[Willie Green]

You've heard it's going to happen --- that in 2012 or 2016 or 2038 or some other ever-shifting date the U.S. social security system will run out of money.

Yes.

The dirty little secret is that this is the Republicrat's BIG LIE.

BOTH major political parties perpetuate this lie in order to frighten senior citizens into believing that "something must be done to fix Social Security". Of course, this usually involves increasing the SS Tax to increase the amount of money in the so-called Social Security "Trust" Fund.

The "Trust" Fund is actually a slush fund that government bureacrats (at the urging of Democrats) misappropriate for other purposes, leaving behind government IOU's that must be repaid from General Revenue. GOP proposals to "reform" Social Security through "privatization" are merely a ploy to divert SS Tax revenues to brokerage firms and financial institutions so that these wheeler-dealers can get a cut of the action.

The TRUTH is that Social Security is NOT a retirement savings plan. It is also NOT a Ponzi scheme about to go broke!!! Social Security is merely a socialist income redistribution system that places a tax on working people in order to provide a "safety net" for those who are too old or unable to work. And for such a redistribution system to continue working and remain solvent in perpetuity, THERE IS ABSOLUTELY NO NECESSITY TO ACCUMULATE A BLOATED "TRUST" FUND!!!

In todays age of computerization, the only rule necessary to stabilize the Social Security system is as follows:

This month's total SS receipts = next month's total SS distributions

To maintain this equilibrium, monthly payments to eligible recipients would be variable rather than fixed. So in good economic periods, recipients checks increase as SS collections increase. In slow economic periods, recipients checks decrease with collections, but they still recieve something as a "safety net. Overall, all boats rise and fall with the same tide.

But to repeat the main point: a bloated Social Security Trust Fund is absolutely unnecessary for the system to remain solvent.

So the next time a politician tells you that Social Security is going broke, you know that you're not just listening to a liar, but also a thief!!!

[M Kehoe]

Interesting scenario...but the markets (bond and stock esp.) will give you a 'heads up' long before the actual need for combat takes place.

If social security is not privatized (in some form or another) or taxes raised to astronomic levels, this novel could play out.

The Ponzi scheme can't work forever ya know.

5.56mm

[Atlas Sneezed]

Ping

[Sloth]

The correct approach to Social Security: ABOLISH IT.

Stop SS withholding immediately. For people retiring today or within the next couple of years, give them 100% of the benefits they'd otherwise receive. Prorate it down to 0% for people retiring 30 or 40 years from now, but pay back to everyone at least the amount of their SS taxes paid, plus interest & adjust for inflation. Use general revenues.

[Atlas Sneezed]

When it's time to start burying your guns, it's time to dig them up!

[Centurion2000]

bump

[Xenalyte]

Why does this guy not capitalize Social Security? It's the name of the program and the administration - it's a proper name. Irritated me enough that I had trouble reading the whole thing.

[metalurgist]

Future violent old geezer bump

[AK2KX]

Bumping this old article up for a new look. Seems more feasible as time goes by.