It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Next... its a rose colored glasses worldview to think that companies/corporations that
were suddenlt relieved of paying each employees 7.5% social security contribution...
that the mamagement & board would redirect those funds for hiring people->
they would most likely award themselves bonuses, then increase the wage disparity
even more than the CEO raking in 450 times more than a blue collar line worker.
Wouldn't it be interesting to see, the " op-ed out " filing for social security. If your in a job that offers a retirement program, why would you need the SS to begin with?
The Social Security Act of 1935. This statute provided for a federal program of old-age retirement benefits... Only employees in industrial and commercial occupations were eligible for protection under the Social Security Act of 1935.
The hiccup comes when you begin to lose that income stream, but people are still retiring and expecting benefits. It would have to be about a 30 year transition plan with benefits tapering off gradually.
Originally posted by Whereweheaded
Courage begins with a commitment to see things as they are, rather than how we wish they were. When it comes to Social Security, we must understand that the system does not represent an old age pension, an “insurance” program, or even a forced savings program. It simply represents an enormous transfer payment, with younger workers paying taxes to fund benefits. There is no Social Security trust fund, and you don’t have an “account.” Whether you win or lose the Social Security lottery is a function of when you happened to be born and how long you live to collect benefits. Of course young people today have every reason to believe they will never collect those benefits.
There is of course a final problem. In 2008 the money supply was $831 billion by the end of 2009 it was $2026 billion. Sooner or later this means prices are going to skyrocket. If the SS is not increased the actual "value" will be half or less depending on how much more money the banks "print" and flood the market place with.