Social Security is a Pyramid Scheme

reply to post by HauntWok
You have been deluded. There is no trust fund "lock box". That money was raided by vote buying congress critters long ago. The "trust fund" is now full of garbage "IOU's" from the US treasury.

reply to post by DarthMuerte


Actually no, I haven't been deluded. What is happening is you are being brainwashed by the right wing agenda to put more money in the hands of the wealthiest 1%.

Yes, if we don't do ANYTHING about it, between 2036 and 2041 Social Security will only have enough money to cover 3/4ths of the investors.

The last 5 Trustees Reports have indicated that Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) Trust Funds would become exhausted between 2036 and 2041 under the intermediate set of economic and demographic assumptions provided in each report. If no legislative change is enacted, scheduled tax revenues will be sufficient to pay only about three fourths of the scheduled benefits after trust fund exhaustion. Many policymakers have developed proposals and options to address this long-range solvency problem.

www.socialsecurity.gov...

In 1983, Reagan increased the payroll tax for social security ensuring it's solvency until at least 2036. While right wingers want you to buy into the lie that Social Security was looted long ago and it has absolutely no money left in it. The fact that there isn't widespread starvation of the elderly, no reports of elderly being involved in cannibalism, or few reports of elderly committing bank or store robberies, seems to suggest that it is indeed solvent into the near future.

Mr. Reagan's second tax increase was also motivated by a sense of responsibility -- or at least that's the way it seemed at the time. I'm referring to the Social Security Reform Act of 1983, which followed the recommendations of a commission led by Alan Greenspan. Its key provision was an increase in the payroll tax that pays for Social Security and Medicare hospital insurance.

www.nytimes.com...

Yes, there will have to be legislation that increases tax taken for social security in order to keep it solvent into the future, this money is going to hard working Americans who have for their entire adult working lives have invested into this system. But the right wing wants to steal this money from not only the current retirees but future investors who rely on Social Security to be there when they retire. The right wing wants to brainwash you into believing this lie, (just like they brainwashed many into believing that Obama is an illegal alien hell bent on destroying America.)

It's just one of the many right wing lies they pull out every year trying to screw the American people into giving the wealthiest 1% more of their hard earned money without the top 1% having to do any work for it.

These are the same people who brainwashed masses of people into believing that Obama was born in Kenya, is somehow simultaneously a Nazi and a Communist, both a Muslim and the Anti Christ. These are the same people who started TWO wars, and are now blaming Obama for not closing Gitmo (a concentration camp, the same party who ordered the torture of prisoners of war).

The right wing along with their mouthpiece FOX News, consistently lies to you, but for some odd reason, the masses of right wingers buy into every single thing this corrupt party has to say without question like good little sheep.

Originally posted by HauntWok

... The right wing wants to take social security away from the people and give that money to wall street and ensure that each and every social security investor has every single dime ripped off from them by people on wall street who gamble with the economy. ....

For you to stake that claim you must have read a bill submitted in congress endorsed 100% by Republicans which states this. What is that bill number?

Otherwise you are spouting rhetorical regurgitation from the Democrat party disinformation and fear entrenchment division. Fear-mongering lies is bearing false witness with mortal consequences in this life and the next.

reply to post by DarthMuerte


Exactly!!

It's a Pyramid Scheme. This is why Liberals don't want Savings Accounts. This would mean they couldn't spend the money and replace it with I.O.U.'s.

This would also mean people could leave the money in their savings account to a grandchild to go to College. Right now if you don't make to retirement age, the Government just keeps the money when you die.

This is why the Government depends on a certain amount of people dying before they reach the top of the Pyramid and start collecting benefits.

If Bernie Madoff said if the investors don't live past 65 years of age, then I get to keep the Principle, he could manage the scheme by adding enough new investors to pay interest to those who live past 65. he could then spend all of the Principle.

This would work until Investors started living longer. Then there eventually wouldn't be enough new investors to pay out interest and the scheme will collapse.

So Social Security has to be reformed and phased out. Younger folks need Savings Accounts and a raise in the retirement age. Allow people to put their Social Security into Savings Accounts. A list of low risk funds and bonds. The same group of funds that Senators and Congressmen use to build their retirement accounts.

This has to happen. Sadly, Obama and the Democrats are acting like it's still 1960 and we're not 16 trillion in debt. I hope Romney really takes on S.S. and Medicare. S.S. can't take an increase in life expectancy which is a good thing.

Obama sees it as a bad thing and therefore people are using too much healthcare. So the IPAB is there to ration healthcare to try and control cost and slow down life expectancy. The Progressives see the elderly as an enemy of the State. By living longer, they threaten S.S. and Medicare. This is why Obamacare is so disgusting.