SS Ponzi like 310 million tits

[sine-qua-non]

Simpson wrote this week in an email to one of his critics the Social Security retirement program has reached the point "where it's like a milk cow with 310 million tits."



 "the Social Security retirement program has reached the point "where it's like a milk cow with 310 million tits."


 
The analogy is wrong. Social Security is a leaky milk pail and the taxpayers are the tits being squeezed by the government until they're bone dry.

I and my employers were forced to contribute 15% of the money I earned into this Ponzi scheme -- I didn't hear Mr. Simpson complaining about all that money coming into the treasury, money he immediately spent on social programs to get re-elected.

Now there's no money left in Social Security and it's OUR fault?

[bhsgrad1972]

They SAY it won't run out for years, yet. I myself don't really believe it will be available to me in 10 years, when I am 66 and eligible to retire.

[dondc]

You pay 8%, and your employer matches it...
It been doing fine up until 2009, the first year it didn't have a surplus that went into government interest paying bonds. 
A chuck of the national debt is owed to the SS fund..
It won't dry up in my life time, and probably not yours.
A Ponzi scheme enriches the few at the expense of the many.  SS doesn't quit met that definition..
Now if it were half going into the stock market it might. Stock brokers would take a large percentage off the top.  there would be ups and downs.  Good investors might do well, many would not..
No one can know what what SS has done for the stability of the economy since 1934.  The economy did have more ups and downs before that and the drag on families taking total care of the elderly can't be estimated..  Culturally we had more options than Asians which are good at that.  You'll find they appreciate SS a great deal..
FICA also pays for Medicare, and much of welfare.  The rich don't pay it, at least not on anything over $110,000.  They pay none on dividends and investment income...  The working people do.  Some thing that is over looked by people claiming the rich pay too much income tax..

[sine-qua-non]

A Ponzi scheme enriches the few at the expense of the many.  SS doesn't quit met that definition..






Seeing as how the SS money is already spent, and new sources must be found to keep it solvent, it most certainly DOES fit the definition of a Ponzi scheme.

[dondc]

Well it isn't spent, it in invested in government bonds.  We owe it.. Just like we owe the Chinese...  Some day we'll have to realize that Cutting income tax doesn't bring in more money.  If it did we could do away with it all together and pay off the national debt.

[sine-qua-non]

Yeah, it's broke, there is no lock box full of money or bonds, just IOU's dondc.


Some day we'll have to realize that Cutting income tax doesn't bring in more money.  If it did we could do away with it all together and pay off the national debt.



LOL!  is the REALLY what will happen


Again,  for the naivete among us, "some day Americans will realize that getting rid of the Fed will mean NO income tax, and No national debt, once we are rid of this bogus debt based money system."

[caserio1]

get rid of the fed?
 
who will take care of you?

[moneill16]

It is my money to retire on...I paid into it and I expect to get it back.  You dumb Republicans can give your money to the Rich if you want.

[sine-qua-non]

Sorry Mon, your dumb Dems spent it all on their social programs everyone told you they didn't want
but the Dims passed anyway, so you now know who to blame, your very own Dimtards!

[dondc]

Actually the money comes from FICA, which is a social program tax.  The surplus has been spent on non social programs.  More than one B1 bomber and anti ballistic missile system has been bought with the money loaned to the general fund by FICA.
Maybe every one should pay that FICA tax not just the working stiff.
Dream on about taxes.  It doesn't work that way and won't work that way.  Cutting taxes while spending big is our major problem.