Agree. 
March 25, 2010 5:23 AM Social Security Payouts to Exceed Revenues 
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 ...
For the candidate who cares to inform him/her self about this issue and take the issue to the voters, it can be a huge winning issue.
The GOP candidates have always retreated from this issue like scared rats. The DNC knows how to play that type of candidate very well - they panic the GOP until the consultants freak out and tell the candidate to run like a scared child into a closet.
If a candidate takes a running charge at this issue, armed with facts, the DNC not only has no defense on the facts, they have no playbook. They’ve been using the same playbook for the last 40 years... they have no other.
I’ll tell you one thing, Perry sure knows how to get people fired up, doesn’t he! My heart is pounding! Woo hoo!!
Have to give credit where it’s due. The real question is whether he means any of it or whether saying this is simply a means to an end.
Agree.
March 25, 2010 5:23 AM Social Security Payouts to Exceed Revenues
In 2010 Social Security consumed $695 billion. Medicare and Medicaid cost $743 billion. They're the bigger target. And the one where costs are growing exponentially.
Yup, I'm 34 and I expect nothing from Social Security at this point.
“The cost of employing people is simply too high, and it is easier and easier to justify the export of jobs.”
But on SS, look at what you buy, see where it is made. ALL those workers and their ‘employers’ do not pay SS. If SS was collected on these products, we would not be having SS problems. SS worked until we exported the jobs. American companies and their employees have to pay SS taxes, level the playing field. Put a SS tax on all imports.
The use of the word “attack” is interesting. By my way of thinking Perry is simply “analyzing” a thing. CBS makes it seem that Perry is the Red Barron strafing something.
The truth is that via an unconstitutional governmental thing called Social Security the Federal government is attacking me using thievery at the point of a gun.
Nonsense, that has NOTHING to do with exported jobs. It was ALWAYS a Ponzi scheme, the ONLY way it could work would be if the population and number of working people continued to expand forever, and if LIFE EXPECTANCY had limited the majority to less then the eligibility age.The US population in 1940 was 135 million, 2000 it was 280 million about doubled. In 1940 about 55% if the population lived to the age of 65, in 1990 that number was up to 80%,and they are living far longer staying on SS longer. In 1940 there were a total of 9 million age 65 or greater, in 2000 that number was up to 35 million and climbing rapidly. THATS why the payer to eater ratio has fallen so greatly. Once the birth rate started to fall, AND life expectancy ROSE, it was doomed to fail sooner or later.
I know unemployment is bad, but for this to be true, we'd have to have 7 times the unemployment of the time that Mayor Bloomberg is talking about. Since unemployment is at 10%, he must have been talking about a time when there was 1.5% unemployment - basically never.
Sorry, the basic premise doesn't add up.
Seniors will have to be handled with kid gloves by ANY GOP candidate in 2012. It doesn’t matter who it is, they’ll play the Social Security card.
It can be done, though.
I started a thread entitled In Defense of Social Security when I make these arguments in detail, but in brief:
SS is not a Ponzi scheme for several reasons, notable there is no one profiting off it, there is no fraud, and it doesn’t collapse.
Second, SS is misunderstood. SS takes a fraction of everyone’s paycheck, and distributes it to every retiree in rough proportion to what they had paid in during their working life. It can’t go broke or be hurt by inflation, because it’s income is always a fraction of everyone’s income. It is true that in the future, the income (divided among all retirees) is less than the promised benefit, but it is still very close to 80% of the promised benefit until the year 2063 or so. See page 11 of http://aging.senate.gov/crs/ss1.pdf to see a chart of income versus outflow. Even at the end of the century (year 2100) it is at 74% of promised benefit.
We shouldn’t kill SS just because its future return is only 80% of what we want it to be. We ought to tweak it - be honest and admit after the year 2040 or so benefits will drop 20%, or do some other fix. But its worth to so many retirees out there is too vital to abandon.
I agree with Gov. Perry. I thing SS is a massive Ponzi scheme and a fraud. And have so for a long time.
But the Dems have a long long long long history of whipping up seniors and scaring the bejezus out of them demogoging SS. And seniors are not only an increasing part of the population. They are also have the highest rates of voter participation.
We all know here that BHO cannot win re-election based on his miserable record. Team BHO’s strategy is to destroy the GOP candidate and whip up hysteria. Unfortunately I think Perry is somewhat of a loose cannon and has provided BHO’s goon squad—headed up by Plouffe and Axelrod.
Seniors, who haven”t received a cost of living raise in a couple of years, ought to be the first to be mad at this Administration.
Who will be hurt the worst if Obama does get a moratorium on “payroll taxes?”
I want to see these lying bastards cut off everyone on SS...Every single person who's had their incomes siezed over the past 50 years.
I really want to see them do that, after these lying bastards bailed out wall street insiders and bankster buddies to the tune of multiple trillions, while forcing tax payers to subside millions of illegals.
Tell all those on SS, tough luck!
I'd pay good money to watch this implode around their heads. I want to be real close up and watch this.
Than imagine a Palin/Perry ticket....
But on SS, look at what you buy, see where it is made. ALL those workers and their ‘employers’ do not pay SS. If SS was collected on these products, we would not be having SS problems. SS worked until we exported the jobs. American companies and their employees have to pay SS taxes, level the playing field. Put a SS tax on all imports.
This is what I call (suicidal) political courage - he grabbed on to the Third Rail of politics and held on with both hands as the current was coursing through his vitals.
No. Please do not do that to the man. It is unfair to Perry and to the memory of our greatest President.
You may want to take that up with Michael Reagan. Not me.
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