https://theprogressiveinvestor.org/protecting-social-security-the-key-to-the-2018-election/ Money . Power . Politics Wed, 17 Apr 2024 18:37:57 +0000 hourly 1 https://wordpress.org/?v=7.0.4 https://theprogressiveinvestor.org/protecting-social-security-the-key-to-the-2018-election/#comment-3556 Thu, 25 Oct 2018 15:39:00 +0000 http://theprogressiveinvestor.org/?p=7253#comment-3556 There’s so many falsehoods here I guess we’ll start at the top and take em as they come in order.
1. You say that Social Security has never failed to deliver on its promise. False! Social Security has never kept it’s promise. It was sold to Americans by claiming that it would NEVER require contributions above 3% of their paychecks. It is now a bigger tax than Fed income tax. It was promised that the money would not be touched by the gvt. or ever be used as a general fund. FALSE!
2.Social Security is a paid in benefit and you collect what you pay in. FALSE!! Today, Joe Blow collects 8$ for every 1$ that Joe Blow paid in in 1963 . In other words Joe pays in one dollar and collects eight dollars. Social Security is a Ponze scheme, meaning it cannot pay the seniors etc. who are collecting Social Security benefits unless they get the money from today’s pay ins. Joe Blow isn’t collecting the money he paid in because that money is gone, Joe Blow is collecting the money that his son and grandson are paying into the system now. That is a dangerous and irresponsible system that would be highly illegal for anybody outside the gvt to run. Remember Bernie Madoff?
3. It’s administered by get employees blah blah blah….. Bullshit! It’s administered by gvt. Because it is highly illegal for any private firm or individual to run any kind of a fund that is structured that way….Bernie Madoff?
4. The New Deal policies helped lift US from the depression. FALSE!! After the crash , unemployment never hit double digits and was dropping until the New Deal, after which unemployment shot to over 10% and stayed in double digits for the next decade. The New Deal prolonged the depression for 10 yrs.
5. Social Security is absolutely an entitlement unless you think that somehow recipients aren’t entitled to their money after paying in for years. The tax cuts did not disproportionately direct trillions to 1% of Americans and that has nothing to do with Social Security.
6. Tax cuts do not require financing and we did not go into the red financing tax cuts for wealthy people. That is just an outright lie and an obvious red flag regarding the competence and integrity of those who would make such an outrageous FALSE claim.
Social Security needs to go!

]]>