Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: SeekAndFind

So why is it that they want to bail out the corrupt union retirement but steal Social Security funds to the tune or over $13T??


3 posted on 01/24/2019 9:34:01 AM PST by mountainlion (Live well for those that did not make it back.)
[ Post Reply | Private Reply | To 1 | View Replies ]


To: mountainlion

Because there is no Social Security fund or guarantee to Social Security benefits.

In Fleming vs. Nestor the US Supreme Court ruled that that workers have no legally binding contractual rights to their Social Security benefits, and that those benefits can be cut or even eliminated at any time. To engraft upon the Social Security system a concept of ‘accrued property rights’ would deprive it of the flexibility and boldness in adjustment to ever changing conditions which it demands.” The Court went on to say, “It is apparent that the non-contractual interest of an employee covered by the [Social Security] Act cannot be soundly analogized to that of the holder of an annuity, whose right to benefits is bottomed on his contractual premium payments.”

In an earlier case, Helvering v. Davis (1937), the Court had ruled that Social Security was not a contributory insurance program, saying, “The proceeds of both the employee and employer taxes are to be paid into the Treasury like any other internal revenue generally, and are not earmarked in any way.”

In other words, Social Security is not an insurance program at all. It is simply a payroll tax on one side and a welfare program on the other. Your Social Security benefits are always subject to the whim of 535 politicians in Washington. Congress has cut Social Security benefits in the past and is likely to do so in the future.

So the 13T number that you pulled out of the air is nothing more than conspiracy theory nonsense. There is no theft of “social security” funds.

And on the subject of this article there should be NO BAIL OUT of union pensions by the American taxpayer!!!


5 posted on 01/24/2019 9:44:59 AM PST by CharlesMartelsGhost
[ Post Reply | Private Reply | To 3 | View Replies ]

To: mountainlion

The didn’t steal anything. The politicians could decide tomorrow to end all benefits but keep the tax in place. SS is whatever the politicians want it to be. There are no SS funds and never have been. Today’s taxes are given to today’s recipients any extra is spent on other things. The difference between today’s taxes and todays payments, if positive, is put into US Treasuries which can only be repaid through taxes at time of redemption.

SS and union pensions are about the same thing. Both are political ploys designed to generate Democrat votes. Both have been overused and overpromised and underfunded. The art is to get the recipients believing the are “owed” (when legally they are not) and was “robbed” (sometimes true with unions) so that they will lobby the government to protect them.


8 posted on 01/24/2019 9:53:29 AM PST by FreedomNotSafety
[ Post Reply | Private Reply | To 3 | View Replies ]

To: mountainlion

And government employees don’t pay into Socialist Insecurity.


15 posted on 01/24/2019 10:07:57 AM PST by FrdmLvr (They never thought she would lose.)
[ Post Reply | Private Reply | To 3 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson