Skip to comments.Ultimate Collapse of Social Security and Medicare
Posted on 03/03/2011 7:26:57 PM PST by Bob Maverick
By congressional action, seniors lean upon younger workers to keep their perceived entitled pension benefits coming. This 'backward lean' is the very 'ponziness' of the debacle because the youngest group has no one to lean upon, hence they will be defrauded.
The crucial problem is that our government has enacted socialistic and immoral institutions into law such as Social Security and Medicare, which are cloaked in many high-moral sounding themes. But if you are a great grandchild (or later) of the 1930's New Deal era, you will grievously and forever be a dining table server at the Ponzi Scheme Banquet for your elders.
Because of misunderstandings and fantasies fostered by politicians, seniors have lived their whole lives under the promise of Social Security and Medicare. Moreover, one must never speak ill of the golden goose politicians who lay real money.
But the veil should be lifted at last and our grand SS-Ponzi and MC-Ponzi operations must be understood for the frauds, which they truly are. Moreover, golden goose politicians fully expect and often receive abundant voter 'reward' for monthly checks, which is the poison pill of corruption within our republic.
(Excerpt) Read more at americanfairhoperetirement.com ...
I think the jig is up for blog pimps...
I will gladly give up my social security if we sentence all democrats to death and I can pull the switch.
That ought to be “spring the trap”.
I collapsed while trying to wade through the minutia in the blog article. I am sure there was a point to be made, somewhere, but I could not see the forest because of all the trees.
I have a problem with the very first line. I don't think anyone in their 70's considers Social Security or a pension benefit to be an 'entitlement'. They understood it to be a Trust Fund to which they (some for over 40 years) paid into. The Trust Fund has been corrupted, raped and left bleeding and dying....but let's not slap the seniors that paid into it as if they are a major part of the problem. They are getting kicked to the curb.....like many other hard working Americans, by miscreant political hacks who really have no interest save that of their own.
There are two issues here. First the trust fund was spent in the past to support overspending by the federal government so current year general fund revenues must be used to make the payments.
Second, the economy is no longer growing. The decision to eliminate tariffs and quotas which opened up our markets to global competition essentially destroyed the manufacturing engine that fueled the greatest economy on the planet and supported a middle class lifestyle for the majority of Americans.
If the manufacturing economy still existed and was strong, it could support social security and medicare. However tax revenues are going away — shuttered factories generate no income and pay no taxes. The millions of good paying manufacturing jobs that have been lost, plus the jobs of the people selling to and supplying the shuttered factories, are now gone and no longer generating tax income for the government.
Imagine if most of the consumer goods in the stores today were produced in this country as they were before 1990. Millions of more Americans would be at work and paying taxes. Higher tariffs would also result in tax revenue to the government.
Recreate the trade and regulatory policies that support a vibrant manufacturing economy and you’ll see America roar back. For proof, look at the US industry and policies from 1865 to 1988 or look at China today.
A country that doesn’t protect its economic foundation is destined to die. We’ve allowed our industrial base to wither and look where we are going. Look in Africa at Zimbabwe, the former breadbasket of Africa. They ran off the white farmers and are now starving to death.
Create the conditions for economic prosperity and you will have prosperity. Nations get to choose and we have chosen not to be prosperous. Now we are beginning to face the consequences.
If a senior truly believes that then they are suffering from dementia.
I’m so outraged because of SS-Ponzi and MC-Ponzi that I’d probably pimp a little, bribe a judge, or kick ass for my children, and grand children.
Momma and I are 62 now and we draw our ‘bonanza’ from Uncle Sam. Sorry, but we’re forced to kick the slop jar and eat soup from it too.
When I look into the beautiful faces of my grand daughters, I’m grieved for the future that awaits their happy little faces.
They don’t comprehend that the American Dream, which is apparent in their grandparents lives, will not be there for them. Sadly but when that day comes, we won’t be here to help save them.
Hopefully, this outline will bring the trees into focus.
Both Social Security and Medicare are indeed Ponzi operations of a special type and shall ultimately collapse.
Social Security and Medicare are broken and irreparable.
The only ‘solution’ is to get a viable long term plan going to ditch both of these socialistic relics.
American Fairhope Retirement Plan: Over age 50 remain on 100% Social Security. Under age 31 convert to fully privatized plan (0% Social Security). Ages 31 to age 50, convert to a prorated share of Social Security and private retirement, by Table-I.
The thrust of the article is dedicated to proving that Social Security and Medicare are indeed Ponzi operations or schemes and thus fraudulent in final outcome, but not by original intent.
However, if one is already convinced of such, then try starting at chapters A5, A6, A7 and A8. Close out with C3.
Then if fully convinced, read the proposed retirement plan in chapters B1, B2, B3 and B4.
Otherwise, the balance of chapters should provide good information for those having additional interest.
Thanks. You succinctly described things in a way I could understand. There are key free market principles you have used that I think have an awful lot of merit. The challenge in situations like these are to transition from the current "home" to a better place. You clearly have defined a better place. Your transition plan seems to make a lot of sense, but I could be persuaded on other transitions that got us to the same "better place."
Thanks mlocher for the kind words!
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