Govt. Discussing Looting Social Security - to Give to Banks for Bailout -

Some Govt. Elites want to Loot Social Security - Medicaid and Medicare and give the money to the Banks for Bailout! Now, if that doesn't get EVERYONES attention, I don't know what will! They are already seriously considering taking Pension Plans - thread here
now they are talking about Social Security, it is being done behind closed doors. They don't want the public aware of this, at this time. (Ya wonder if it is because people would get upset?)

article: Looting Social Security

Governing elites in Washington and Wall Street have devised a fiendishly clever "grand bargain" they want President Obama to embrace in the name of "fiscal responsibility." The government, they argue, having spent billions on bailing out the banks, can recover its costs by looting the Social Security system. They are also targeting Medicare and Medicaid. The pitch sounds preposterous to millions of ordinary working people anxious about their economic security and worried about their retirement years. But an impressive armada is lined up to push the idea--Washington's leading think tanks, the prestige media, tax-exempt foundations, skillful propagandists posing as economic experts and a self-righteous billionaire spending his fortune to save the nation from the elderly.

These players are promoting a tricky way to whack Social Security benefits, but to do it behind closed doors so the public cannot see what's happening or figure out which politicians to blame. The essential transaction would amount to misappropriating the trillions in Social Security taxes that workers have paid to finance their retirement benefits. This swindle is portrayed as "fiscal reform." In fact, it's the political equivalent of bait-and-switch fraud.

Defending Social Security sounds like yesterday's issue--the fight people won when they defeated George W. Bush's attempt to privatize the system in 2005. But the financial establishment has pushed it back on the table, claiming that the current crisis requires "responsible" leaders to take action. Will Obama take the bait? Surely not. The new president has been clear and consistent about Social Security, as a candidate and since his election. The program's financing is basically sound, he has explained, and can be assured far into the future by making only modest adjustments.

Those are just a few paragraphs, the article is actually 3 pages long.

BUT - what needs to happen NOW - (though I know we have all done this in the past, to no avail) -- EVERYONE needs to CONTACT your Govt. officals and tell them "DON'T EVEN THINK ABOUT IT"!!!

Another thing, is please, anyone who knows someone in the media, needs to get some BIG attention to this matter!

THIS CAN NOT HAPPEN!!

As I see it, what is happening, is there seems to be a concentrated effort on SERIOUSLY taking EVERY bit of money there is for the regular hardworking American citizen.

If this is allowed - do you realize - NOT ONE OF US will have ANY money for any type of retirement. All that money we have put in our Social Security could be COMPLETELY WIPED OUT!!

Please - if you haven't ever taken a step before with a political action - there has NEVER been a more DIRE time to do so, THAN NOW!!

This is going to be interesting. Medicare and Medicaid along with Social Security is already bankrupt.

The politicians have already looted Social Security, this really gets me heated.

They are going to do this so they don't have to payback what they have already stolen.

This is screwed up. The dems are racing too to civil unrest. The thing that upsets me the most though is all the partisan bickering. Both parties are guilty.

I think we should get rid of social security it should have never been created to begin with, its just a very big ass ponzi scheme anyway the only difference the government says that it is legal.

Talk about history repeating itself.

Clinton also looted the SS fund. and people today call his actions "having left office with a surplus" in the federal budget.

Oh how soon they forget how that was managed.

See my signature, and you will understand...

reply to post by questioningall

THIS CAN NOT HAPPEN!!

I guess you are not aware that they already are stealing from the Social Security Fund, because it is hidden in the "Stimulus Bill".
You know that $400 tax credit that workers are getting ($13 per week for 31 weeks this year, and $8 per week for 50 weeks next year)?
Well, what they are actually doing to give you that money is reducing the social security tax(6.2%) on your first $6,500 of earned income. That means that social security, which was supposed to go negative in 2016, will now go negative much sooner.
I've posted this on several threads, but I've never even gotten a response. I guess people don't care if Social Security goes under.

reply to post by ProfEmeritus

I guess people don't care if Social Security goes under.

I care. I just know it's going to go bust. There odds of us getting out of this mess are almost zero.

They are going to drain the people of every last penny before we go belly up.

They are like vultures picking off scraps on roadkill. They are getting us for all we are worth.

We need a damn revolution.

I'm tired of this.

It's not right I'm sick of seeing everyone get beat down for no good reason.

I care. I just know it's going to go bust. There odds of us getting out of this mess are almost zero.

Sorry, David. I know you care. Let me modify my remarks. Some on ATS don't seem to care whether Social Security goes bankrupt. Of course, they should, because it is their money that they contributed that is being misappropriated. Social Security is a big cookie jar, that is running out of cookies.

reply to post by ProfEmeritus


My parents wisely told me as I was growing up that SS would not be around by the time I was eligible for it and that I better learn to put money away for my old age.

I listened.

Of course, I have to pay capital gains taxes on that wisdom, because in this brave new world, being prudent gets you poked in the one brown eye that doesn't see sunlight

reply to post by redhatty

My parents wisely told me as I was growing up that SS would not be around by the time I was eligible for it and that I better learn to put money away for my old age.

I told my children the same thing. Of course, at this point in time, none of them have any money to spare to put away for retirement. I took the same attitude, but my 403B (educational equivalent of a 401K) is now a 103B, and going down quickly. Luckily, we have no mortgage and no loans of any sort, or we would be in trouble also.

I could care less at this point to be honest. We were the prophets crying in the wilderness during the primaries and during the elections. Most people considered us weird or just plain paranoid. So let them loot it all so the people will learn the hard way. Hell people might actually turn off the TV's and protest or maybe a corrupt evil politician will get lynched "God Forbid if that happened!"

reply to post by ProfEmeritus

Social Security is a big cookie jar, that is running out of cookies.

The government must be the Cookie Monster.

Every pay stub I get, I look at the Social Security tax knowing that I'll never get a dime of it back. It's maddening but I've known it for a long time. They'll either keep upping the retirement age to 100 so I'll be dead long before I can collect or it will go belly up.

Either way it's fraud. It's really just another tax we have to pay, nothing more.

Sigh...bloodsucking bastards!!

[edit on 18-2-2009 by David9176]

[edit on 18-2-2009 by David9176]

Originally posted by ProfEmeritus

I care. I just know it's going to go bust. There odds of us getting out of this mess are almost zero.

Sorry, David. I know you care. Let me modify my remarks. Some on ATS don't seem to care whether Social Security goes bankrupt. Of course, they should, because it is their money that they contributed that is being misappropriated. Social Security is a big cookie jar, that is running out of cookies.

So whats another 13% seriously. I get raped every year with 30+% income taxes so whats another 13%. Do You actually think You will ever get that money in the first place? Social security is going to go sooner or later. The boomers want it to go later so my age group can be crippled with taxes and then loose it when We get older. I say end it now so my generation can fix all the problems in this country which are caused by the government. I have no problems with taking in my parents and I will more than likely have to in the future. So boomers get ready its coming because Your generation wanted this crap and thats what You will get.

The worst part of this whole thing is that we are all screwed in the end. The stimulus isnt really helping, due to the fact its a bunch of bull crap. Then here they are stealing from Social security. So now your future is even screwed up. Then on top of all of that they want to send back all of the illegals. That have been paying into SS all these years and that is where most of the older folks cash has been coming from over the past few years. So that means now we have more bills to pay because we will have to take care of our parents and grand parents.

No more nursing homes for grams and gramps. We will have to quit our jobs and take care of them IF were still working. If we are not working then we will all have to live off Obamas wonderful welfare program. Yeah Obama is a savior alright of what I dont know other then maybe the Bull $hit.

So that means now we have more bills to pay because we will have to take care of our parents and grand parents.

I hate to tell you, but with my wife and I, it's the other way around. We're helping some of our kids financially, and babysitting grandchildren. About 1/3rd of the people in our neighborhood are retired, like we are, and have one or more married children and families living with them, because their kids lost their jobs and homes. I think if you research, you'll find my situation is much more common than what you suggest.

This is what we get when the government asks us, the people, to trust them with our future, and we do.

Defending Social Security sounds like yesterday's issue--the fight people won when they defeated George W. Bush's attempt to privatize the system in 2005.

To be clear, I'm for allowing people to opt out of SS - with the ultimate goal of dismantling the program all together, while being mindful that there are those who've been paying into the system their whole lives and are counting on it when they retire.

Anyway, I'm not sure the details of what Bush's plan was, but if we're going to be forced into paying into SS, why would people not want to be able to chose where their money is being held? At least private accounts couldn't pull the old bait-n-switch and loot your savings, and if they did, perhaps it would then be seen for what it is - fraud or theft. Because when the government does it, it's termed "borrowing".

How easily people were tricked into doling out more of their hard earned money to the government in the name of "social security". What a scam.

reply to post by questioningall

Looting Social Security is a tradition here in the US, LOL.

Before George Carlin died he said this would happen, smart man.

I do not think ppl fully realize all the monetary disasters that are
being engineered to have a massive looting of the common man
by the globalist elite thieves in nice clothes.

The coming derivatives collpase of 100's of trillions will be the
final nail in the coffin in my opinion, Buffett thinks so too.

This has been done in the past, just not on this scale.

And to be honest the money issue is the painless part of what is
coming here in the US, and likely around the world.

One World Government, Codex Alimentarus, Forced GMO food.

The New World Order that was mentioned by G. Bush Sr. and has
been mentioned by many others since on mainstream news.

Good Luck to you all !

reply to post by Ex_MislTech



When will the bills of the derivatives come up? I keep hearing about that, but when will it actually be time to pay the piper?

Also, for anyone who has never contacted their govt. official, right now - is the time to do it.

I am not anywhere near SS age, but I am thinking of the millions that depend on it.........

I am so depressed over everything our govt. has been doing, it is a complete systematic bankrupting of the middle and lower class of people and literally leaving them with nothing!

I just do not see the Why of raiding the weekly inflow of income the Social Security & Medicaid Deductions supply to the US Treasury.


there is no multi-billion fund holding only Social Security money...
its a pay-as-you-go system, with whatever weekly SS tax withheld
going into a General Revenues slush account & then paid out in benefit checks on the 3rd of each month....
and continuing 12 X per year, after year, after year ...


Hasn't everyone & anyone heard that the funding for the bank bailouts will be financed by the Federal Reserve immediately buying the Trillions in US Treasury Notes & Bonds that will be issued.
And the Federal Reserve then immediately making electronic additions to the 12 primary banks balance sheets...

the current & existing flows of money to do with taxes & social security will not be changed or impeded by any seizures of SS funds.


This is all scare talk in the Article at the web site,
and picked up by persons at forums who want to flesh out the real truth

I figure if they want to keep taking my cash out for SS then it better be there when I get older. Or else they had better stop taking it out and let us the Citizens put away cash in the banks, or in a cookie jar for our retirement. That way we will know we will have something to fall back on. If you ask me it should be that way anyways. If I had that extra cash every month I could pay my house off faster. Luckily I can get it payed off in 2 years. But still. If I had the extra I would get it payed off in less then a year. Then I could spend cash in the economy and give other folks more business. But nope. They wont do that instead tey think its fine to steal cash from us every day and get away with it. Which reminds me I need to go to work now. So they can dip there hands in my check again.

Just to clarify, as others have stated, there is no trust fund for any of these programs. Social Security has been pitched as an investment for seniors to make for retirement, when in fact it is a transfer payment program, or, in essence, welfare for old people. The same thing is true of Medicare.