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Old 04-03-2010, 02:27 PM   #1
Vincent
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Default Social Security

This gives us a glimpse of what will come with gubmint "health care". History repeats.

Oh. Except with "health care", they get to kill you.

http://www.congress.org/congressorg/..._id=4726967616
Subject: Social Security....why can't you undo what’s already been done to ruin it

To:
President Barack Obama
Sen. Charles Schumer
Sen. Kirsten Gillibrand
Rep. Maurice Hinchey

February 24, 2010

WHAT A COMPARISON

Why did Bernie Madoff go to prison? To make it simple, he talked people into investing with him. Trouble was, he didn't invest their money. As time rolled on he simply took the money from the new investors to pay off the old investors. Finally there were too many old investors and not enough money from new investors coming in to keep the payments going. Next thing you know Madoff is one of the most hated men in America and he is off to jail.

Some of you know this .. but not enough of you . Madoff did to his investors what the government has been doing to us for over 60 years with Social Security. There is no meaningful difference between the two schemes ... except that one was operated by a private individual who is now in jail, and the other is operated by politicians who enjoy perks, privileges and status in spite of their actions.

Do you need a side-by-side comparison here? Well here's a nifty little chart.

Bernie Madoff........Takes money from investors with the promise that the money will be invested and made available to them later
Social Security........Takes money from wage earners with the promise that the money will be invested in a "Trust Fund" and made available later.

Bernie Madoff.......Instead of investing the money, Madoff spends it on nice homes in the Hamptons and yachts.
Social Security..............Instead of depositing money in a Trust Fund the politicians use it for general spending and vote buying.

Bernie Madoff............. When the time comes to pay the investors back Madoff simply uses some of the new funds from newer investors to pay back the older investors.
Social Security.............When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the geezers.

Bernie Madoff......... When Madoff's scheme is discovered all hell breaks loose. New investors won't give him any more cash.
Social Security............When Social Security runs out of money they simply force the taxpayers to send them some more.

Bernie Madoff is in jail. Politicians remain in Washington.

Your Social Security

Just in case some of you young whippersnappers (& some older ones) didn't know this. It's easy to check out, if you don't believe it.

Be sure and show it to your kids. They need a little history lesson on what's what and it doesn't matter whether you are Donkey or Elephant. Facts are Facts!!!

Our Social Security

Franklin Roosevelt, a Donkey, introduced the Social Security (FICA) Program. He promised:

1.) That participation in the Program would be Completely voluntary.

No longer Voluntary

2.) That the participants would only have to pay 1% of the first $1,400 of their annual Incomes into the Program,

Now 7.65% on a >$100,000

3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year.

No longer tax deductible

4.) That the money the participants put into the independent 'Trust Fund' rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,

Under Johnson the money was moved to The General Fund and Spent

5.) That the annuity payments to the retirees would never be taxed as income.

Under Clinton & Gore up to 85% of your Social Security can be Taxed

Since many of us have paid into FICA for years and are now receiving a Social Security check every month -- and then finding that we are getting taxed on 85% of the money we paid to the Federal government to 'put away' -- you may be interested in the following:

------------ --------- --------- --------- --------- --------- ----

Q: Which Political Party took Social Security from the independent 'Trust Fund' and put it into the general fund so that Congress could spend it?

A: It was Lyndon Johnson and the donkey controlled House and Senate.

------------ --------- --------- --------- --------- --------- --------- --

Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?

A: The donkeys.

------------ --------- --------- --------- --------- --------- --------- -----

Q: Which Political Party started taxing Social Security annuities?

A: The donkeys, with Al Gore casting the 'tie-breaking' deciding vote as President of the Senate, while he was Vice President of the US

------------ --------- --------- --------- --------- --------- --------- -

AND ALL OF OUR FAVORITE:

Q: Which Political Party decided to start giving annuity payments to immigrants?

A: Jimmy Carter and the donkeys - immigrants moved into this country, and at age 65, began to receive Social Security payments! The donkeys gave these payments to them, even though they never paid a dime into it!

------------ -- ------------ --------- ----- ------------ --------- ---------

Then, after violating the original contract (FICA), the donkeys turn around and tell you that the elephants want to take your Social Security away! And the worst part about it is uninformed citizens believe it!

A government big enough to give you everything you want, is strong enough to take everything you have. -Thomas Jefferson
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Old 04-03-2010, 07:06 PM   #2
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Default Re: Social Security

Quote:
Our Social Security

Franklin Roosevelt, a Donkey, introduced the Social Security (FICA) Program. He promised:

1.) That participation in the Program would be Completely voluntary.

No longer Voluntary

2.) That the participants would only have to pay 1% of the first $1,400 of their annual Incomes into the Program,

Now 7.65% on a >$100,000

3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year.

No longer tax deductible

4.) That the money the participants put into the independent 'Trust Fund' rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,

Under Johnson the money was moved to The General Fund and Spent

5.) That the annuity payments to the retirees would never be taxed as income.

Under Clinton & Gore up to 85% of your Social Security can be Taxed
Wow. That is amazing.

How did social security start out?

Were there people who paid in one paycheck, retired and then received Social security checks for 30 or 40 years.

If so, it sure started out nice.

Is it now possible that there will be people who will pay into Social Security for 30 or 40 years and get nothing in return.......

I am sure the government started this program with good intentions....
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Last edited by GBMelBlount; 04-03-2010 at 07:25 PM.
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Old 04-03-2010, 07:36 PM   #3
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Default Re: Social Security

Quote:
Originally Posted by GBMelBlount View Post
I am sure the government started this program with good intentions....
Oh. with the very best of "intentions". Just like hellth care.
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Old 04-04-2010, 12:48 AM   #4
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Default Re: Social Security

Not much point in debating the topic IMO. Social Security will cease to exist in a few years 'cuz the money is tapped out.
I feel bad for the baby boomers; they're gonna be stuck with no retirement and not enough years to build one. At least I'll have some time to recover.
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Old 04-04-2010, 07:55 AM   #5
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Default Re: Social Security

Quote:
Originally Posted by GoSlash27 View Post
Not much point in debating the topic IMO. Social Security will cease to exist in a few years 'cuz the money is tapped out.
I feel bad for the baby boomers; they're gonna be stuck with no retirement and not enough years to build one. At least I'll have some time to recover.
What does "tapped out" mean? If "noone" is getting any benefits, then why pay into it? I can understand me, at 40, paying into it to support people retiring but if the people retiring are not getting paid and I won't be getting paid, then why pay into it?

Besides the givernment (mispelling but it looks good) stealing it from my paycheck of course.
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Old 04-04-2010, 08:22 AM   #6
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Default Re: Social Security

Quote:
What does "tapped out" mean?
Broke. Insolvent. Bankrupt.
Quote:
If "noone" is getting any benefits, then why pay into it?
Because the government won't let you *not* pay into it.
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Old 04-06-2010, 07:06 PM   #7
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Default Re: Social Security

Quote:
Vincent

This gives us a glimpse of what will come with gubmint "health care". History repeats.


Franklin Roosevelt, a Donkey, introduced the Social Security (FICA) Program. He promised:

1.) That participation in the Program would be Completely voluntary.

No longer Voluntary

2.) That the participants would only have to pay 1% of the first $1,400 of their annual Incomes into the Program,

Now 7.65% on a >$100,000

3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year.

No longer tax deductible

4.) That the money the participants put into the independent 'Trust Fund' rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and,

Under Johnson the money was moved to The General Fund and Spent

5.) That the annuity payments to the retirees would never be taxed as income.

Under Clinton & Gore up to 85% of your Social Security can be Taxed

Since many of us have paid into FICA for years and are now receiving a Social Security check every month -- and then finding that we are getting taxed on 85% of the money we paid to the Federal government to 'put away' -- you may be interested in the following:

Wow.....

and now they have their hands in health care.....

at least they always start out with good intentions.....
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Old 04-06-2010, 07:11 PM   #8
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Default Re: Social Security

Slash is right....it was supposed to run into trouble around 2014. It's already in trouble now.

Forget insolvency by 2037 (EXACTLY when I would be retiring). Social Security, barring some kind of fiscal conservatism kicking in in the next few years, will be belly-up for anyone NOT a baby boomer by 2020. Retire after 2020 on your own dime...or keep working. Those are the only choices.
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Old 04-06-2010, 07:13 PM   #9
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Default Re: Social Security

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Originally Posted by revefsreleets View Post
Slash is right....it was supposed to run into trouble around 2014. It's already in trouble now.

Forget insolvency by 2037 (EXACTLY when I would be retiring). Social Security, barring some kind of fiscal conservatism kicking in in the next few years, will be belly-up for anyone NOT a baby boomer by 2020. Retire after 2020 on your own dime...or keep working. Those are the only choices.
I wonder how much some people will have been forced to pay the government towards for their social security pension and not get one dime from it?....
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Old 04-06-2010, 07:17 PM   #10
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Default Re: Social Security

Quote:
Originally Posted by GBMelBlount View Post
I wonder how much some people will have been forced to pay the government towards for their social security pension and not get one dime from it?....
Oh, make no mistake about it. All of us who will NEVER reap a dime of it will be forced to pay our whole lives. As will our employers with their match. It's just the way it is....
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