Skip to comments.Rick Perry says Social Security is a "Ponzi scheme" and a "monstrous lie" (Perry speaks the truth)
Posted on 08/29/2011 12:04:46 PM PDT by tobyhill
Republican presidential candidate Rick Perry continued his attack on Social Security over the weekend, calling it a "Ponzi scheme" and a "monstrous lie" to younger Americans who should not expect to get back their contributions upon retirement.
"It is a Ponzi scheme for these young people. The idea that they're working and paying into Social Security today, that the current program is going to be there for them, is a lie," Perry said, according to the Houston Chronicle.
"It is a monstrous lie on this generation, and we can't do that to them," Perry told a crowd a The Vine Coffeehouse in Ottumwa, Iowa.
(Excerpt) Read more at cbsnews.com ...
In the same breathe, he’s saying something has to change...
It may be a ponzi, but until a better solution presents itself....
Yes of course he speaks the ABSOLUTE TRUTH. At the same time he provide plenty of ammo to Plouffe and Axelrod to scare senior citizens.
I do not think so.
Obama 2nd term confirmed.
The solution was proposed during the last administration. Allow workers to keep some of their own money and invest it in the actual private retirement markets, not letting the thieves in Washington keep stealing it.
Sometimes the truth hurts.
... then we'll just let it destroy America's future, reducing our grandchildren into a life of poverty and ruin, because a nice man promised us Social Security one day during one of his fireside chats.
According to the 2009 Social Security and Medicare Trustees Report, the unfunded liablilty for Social Security is $17.5 trillion (it’s certainly greater now).
Now once Perry’s critics tell me where they’re going to find that $17.5 trillion, I’ll take their complaints about Perry seriously.
There has always been a better solution: Family and charity.
Gov. Perry needs to stop trying to be so tactful. He left out the word “Giant” when describing the grandaddy of “entitlement” taxes.
Tell it like it is Governor Perry, tell it like it is.
Michael Reagan says in an interview that Rick Perry is the most reaganesque of the whole group. But, what does he know?
“It may be a ponzi, but until a better solution presents itself....’
Ask the Chileans about their government retirement system.
I that’s too exotic, talk to the people in Galveston, Texas.
Let people keep and invest their own money. Instead of getting a $700/month check from Social Security; the same 40 year amount of contributions would probably give that same person $3,000/month.
We would have a revolution in the streets if people understood this.
Ultimately, FDR is the worst president this country has ever had. Even if you add the damage done by all the lousy presidents together, (Carter, Obama, Johnson, et al), you don’t get anything close to the damage FDR wrought - he paved the way for them all. Unfortunately, the American voter rewarded his misrule with 4 terms. I have a feeling that these attacks could ultimately sink Perry, given FDR’s status as some kind of American deity.
Obama 2nd term confirmed.I don't know if I would go that far but I certainly don't see this as a winning issue.
It sure didn't help Bush trying to push this after his 2004 re-election.
What's Perry doing here?
We can demand the SS is put under lock and key as it was originally until LBJ under his “Great Society” gave it to Congress to spend and Algore voted to tax it. Remove the tax and remove Congress’s ability to spend it.
Don’t worry, Don. No one is talking about taking existing SS away.
If the corrupt government is broke, and SS is just a ponzi scheme, how are they possibly able to support half of Mexico who are choking off our hospitals, our welfare, schools, health care, and choking off social services.
Americans are not only being gang raped by this lying government, but their being robbed while being gang raped.
More importantly, if a worker participating in Social Security dies before retirement, he loses his contribution (though part of that money might go to surviving children, if any, or a spouse who didnt work and therefore didnt establish his or her own benefits). But a worker in the Alternate Plan owns his account, so the entire account belongs to the estate. There is also, among other benefits, a disability benefit that pays immediately upon injury, rather than waiting six months, plus other restrictions, as under Social Security.
And those who retire under the Galveston model do much better than Social Security. For example: ..
It’s amazing how much different this duplicate thread is from the original one.
“Instead of getting a $700/month check from Social Security; the same 40 year amount of contributions would probably give that same person $3,000/month.”
Not if we keep getting markets like the last decade; not that the decline in the standard of living in this country affords many folks to put back money in that quantity anyway. Face it folks, privatization is dead. I can see a serious increase in retirement age and the $100k income cap going away and if that don’t do it, the amount paid out will be frozen. Worse case, Pelosi said years ago if nothing was done, half the liability could be paid, and that could be very well what happens.
And therein lies the big question.....
Is he just speaking what we want to hear, or does he mean it (and will he actually do something about it)?
And don’t forget personal responsibility and saving for your own retirement!
That makes it worse than a ponzi scheme. It makes it highway robbery.
I see exactly what Perry is doing. Let anyone claim that what he said is not the truth and that Social Security is sound then he will sit there and point out the liar.
Michael Reagan also said that Palin is Reagan with a skirt.
Which is it, Michael ?
I’m not sure why Perry is singling out Social Security and not railing against Medicare/Medicaid. Social Security is fixable, but Medicare and Medicaid will bankrupt the country far faster because there is no way to control costs. Those two are the frauds and the Ponzi schemes.
Lucky, look at his record in Texas. Look at him poking his finger in reporters’ chests. Read his book. He says what he means, and means what he says. And sometimes, oftentimes, the Earth shakes below him. And it is good.
Speaking of monstrous lies.
Did Mr. Perry, tell the younger generation your government and Wall Street were bailed out to the tune of trillions by the tax payers, all while forcing Americans to pay for and subsidize tens of millions for illegal aliens, who work cheap while big biz bankrolls their political campaigns?
SS is not a solution, it’s a problem.
Nope. SS worked until we exported jobs. SS was designed for the working generation of Americans to support their parent’s generation. Mayor Bloomberg said there used to be 20 people supporting the retired person. Well there still are. Now only 3 are in this country and the rest are elsewhere. Those working elsewhere do not contribute to SS nor does their employers.
The answer is to place a SS tax on imported goods and the system will be restored to what it once was.
Don’t get me wrong. I agree with what Perry is saying. It’s totally and obviously true.
But it doesn’t seem to me that the 2012 election is the place to fight that battle.
I’m not sure he’s picking up “every single non-black youth voter from 18-50”.
I would love to think that he is but I can’t help thinking of how poorly this issue played out for Bush in 2005.
“It may be a ponzi, but until a better solution presents itself....”
Seriously? Or is this sarcastic?
You want to participate in a Ponzi scheme until something better comes along?
You don't make Social Security a campaign issue. It should be jobs, jobs, jobs.
Obviously, Perry is not proposing taking away Social Security for anyone.
He does, however, need to clarify his full position, and ideas on how to keep it solvent and transition to a better plan for those of us under 40 to 50 years old.
That would be the next “controversy”.
It's already being taken from their paychecks.
txrangerette to DRey
Perry to be on radio with Hannity at the top of the next hour...just announced on air.
I figured much more conservative returns and still came up with about a 25% increase over current payouts on SS.
Good thread over here heated up with freepers comments:
I Earned These Entitlements
Redding Record Searchlight ^ | August 29, 2011 | John Cleckner
Posted on Monday, August 29, 2011 9:22:55 AM by Poundstone
I earned these ‘entitlements’
I think "the most" reaganesque would be the two key words Michael Reagan used. He did not say (nor did I post) that Perry was the only reaganesque candidate in the group.