US Government Imposes Retirement Curbs On Six-Year Olds

Tyler Durden's picture

Via Simon Black of Sovereign Man blog,

In 1729, that Jonathan Swift (of Gulliver's Travels fame) penned a famous satirical essay from England entitled "A Modest Proposal." It's still famous to this day as mandatory reading in many a high school literature class.

As you may recall, Swift addresses the problem of the ultra-depressed Irish economy and mockingly advocates that the Irish should sell their children for rich Englishmen to eat. Lovely thought.

I thought about the essay this morning when one of our Liberty Alert Service researchers alerted me to a new bill just introduced in the Land of the Free, HR 1160. The bill aims "to set the retirement benefits age for today's six-year-olds at age 70."

Maybe Swift wasn't so far-fetched. Screw the kids.

No doubt, governments are adroit at finding ways to steal from people. As the case of Cyprus demonstrated over the weekend, they're quite happy to propose confiscating funds at gunpoint.

They're also adept at seizing assets. In the Land of the Free now, there are hundreds of state, local, and federal agencies which have all the power they need to seize your property for violating some obscure regulation.

Then there are more subtle methods like inflation-- a slow, steady theft of people's purchasing power. Or taxation-- outright theft masquerading as patriotism.

This legislation is just another form of theft, and one of the most despicable-- pushing today's obligations onto the shoulders of future generations.

Moreover, based on the government's own monkey mathematics, social security faces an $8.6 trillion shortfall over the next 75-years... which is precisely the window of today's kids.

It seems almost surreal that a politician's solution to this is to move the goalposts back by a mere 3-5 years on receiving benefits.

It's the same sort of thinking that pervades the political elite-- that they can afford to kick the can down the road indefinitely, forever, with only the occasional band-aid fix.

It seldom works out that way. History shows that collapse comes very suddenly, often after months (or years) of false government promises. Just look at Cyprus.

Today's youth is going to have to pay into this bankrupt system for their entire working lives. And when it comes time to collect, there won't be a penny for them.

It's a terrible situation when you think about it-- if this Ponzi scheme collapses soon, it's today's retirees and working adults who get screwed. If the Ponzi scheme collapses in the future, it's today's kids who get screwed.

Neither option is particularly attractive. And anyone under 50 should plan on heading into retirement without government support. 

Maximizing IRA contributions certainly helps; just make sure to set up a Global Self-Directed IRA to ship your retirement savings overseas. You'll be able to do things like buy foreign property or store physical gold abroad.

Moreover, if you set yourself up overseas, it's possible to LEGALLY reduce the amount that you're paying into the system through the Foreign Earned Income Exclusion and Double Taxation Agreements.

All of these steps are completely legitimate. And they're some of the best ways to avoid the coming theft.

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MiguelitoRaton's picture

Set it for 100 years old, they will never see a penny anyway. Or if they do it won't buy jack-squat.

Dr. Engali's picture

I've never been a big end time person, but I must admit sometimes I have to wonder.

ACP's picture

Logan's Hunger Games Run, I guess, is the future?

Fish Gone Bad's picture

If you are going to steal, then it is best to steal from those who can not fight back...  Just like fighting, its always easier to beat up the handicapped kid.

knukles's picture

Strange, for I've had a number of folks who I've never thought of as particularly spiritual or religious unsolicitedly wonder out loud about end of days, Revelations, etc. 
It's gaining traction.
My guess is that it's a significant indicator of the public's current psychology.  There is absolutely no get up and go, sense of recovery, triumphing over difficult times, of good winning out, better days ahead.... none.
The animal spirits have flat lined

Which in turn bodes poorly for the economy...
Unlike what the Propaganda Mouthpieces would have us believe that all's well in heaven and upon the earth, so to speak.

Another indicator.  Have you all seen that newish (year or so old) quarterly WSJ supplement?  The largesse, bling, ticket prices and garishness are astoundingly tasteless and insulting.
Akin to the New Money of the 60's in the UK
New Money Trash
Is indicative of immaturity and questionable values.

ceilidh_trail's picture

I stopped getting the wsj a few years ago (after getting it for 20+years). The news and data flow are just not there anymore. I'm about to dump Barrons for the same reason. Five bucks for minimal investing leads and the data in the back is mostly gone. Certainly what's left is not worth the dinero. O/T- Alan Abelson hasn't been doing his section for the last month or so. Anyone know why?

willwork4food's picture

@knuks- I've see it too. But what is amazing to me is the ones you would always know would be shouting end times scenarios (i.e. the funamentalist Christians) are more focused on the state gay laws passing as proof were near it. Most of them don't have a fucking clue what is really going on.

Antifaschistische's picture

hey, don't forget praying in school.....even though they don't do it at home.  They made a big deal out of that too.   Fundamental Christians seem to be the most oblivious...I don't get it either.   Shut up and pass the potato salad only goes so far.   You'll hear them all thanking God the economy has turned around...pass the collection plate and thank you Jesus.  They just have no clue what's about to hit them.   They only reason they think the economy has turned around is because of their faith in 401k stock market ramp paper appreciation.  

Doomer's picture

"In 1729, that Jonathan Swift (of Gulliver's Travels fame) penned a famous satirical essay from England entitled "A Modest Proposal.""

Actually, Tyler, the essay was not written "from England".  Swift was Irish ("Anglo-Irish") and wrote "A Modest Proposal" from Dublin, while Dean of St. Patrick's Cathedral.

Dr. Engali's picture

You're addressing the wrong person. Tyler didn't write this article .... Simon did.

johnQpublic's picture

are you implying that simon black is actually Gulliver of Gullivers travels?

Element's picture

It's what happens when you let a Govt tell you what you can and can't do. Give them an inch and they take a mile, so give them nothing at all. For sure they'll have a version of this ready to go in Victoria and Queensland - via Royal Ascent of course.

So it's 'legal'.

ZeroPoint's picture

This is what happens when you let a tyrannical government take your guns. Aussies need to burn their motherfucking government into the ground.

Punch Bag's picture

Looks like the shooters party supported the legislation.

grid-b-gone's picture

100 yrs for today's six-year-olds is reasonable. Advances in molecular genetics over the next 15-20 years will significantly extend life.

Pre-teens today can expect 20 years of school, 60 years of work, and 20 years of retirement.

One reason governments plan so poorly decades into the future, is that they, by nature, only have a 2,4, or 6 year planning horizon ... and much less vision than people in policy-making positions need to be effective.

The 40-quarter qualification for Social Security, for example, is one blatent example of long-term lack of vision and planning. Work ten years over a lifetime and collect for thirty. How could any program run out of money with that kind of foresight?


Fish Gone Bad's picture

I call bullshit:

Advances in molecular genetics over the next 15-20 years will significantly extend life.

Today's kids will actually have a shorter lifespan.  If you take a look at what (U.C.S.F. pediatric endocrinologist) Robert Lustig put out a few years ago ( you would know we are in an epidemic of metabolic syndrome.

Add to that the constant radiation coming from Japan and the Gulf of Mexico spewing oil, there is plenty to be worried about.

MeelionDollerBogus's picture

30 years of school, 10 of it remedial

10 years unemployment

30 years part-time employment

0 years retirement

And we’ll see about life-span once the real food & clean-water situation actually pans out. The economic disaster is only part of what is addressed often here: the ecological disaster is huge. Yes, there’s clean water shortages from industrial waste & water isn’t moving as it used to, to regions already set up as farms, thanks to global warming’s effect on humidity uptake & rains. But let’s not forget FUKUSHIMA.

Yes, that will STILL be a problem when today’s 6 year olds are RETIRING.

And yes, that definitely will affect life-span.

lolmao500's picture

Didn't the math actually showed that LOWERING the retirement age would actually reduce the cost??

I remember reading an article about this on ZH...

hannah's picture

this only works if you lower the 'dying age'...

Kitler's picture

Or just move the 'misery index' up a couple of notches and legalize suicide.

hannah's picture

obama would tax you and i dont have enought money to kill myself....

Element's picture

Free barbiturates for everyone!

That would very quickly lower deficits and hospital waiting times - guaranteed.

knukles's picture

The mathematical effect of declaring that a 6 year old retires at 70, 100 or 50 is just about zilch from a discounted present value perspective.
There is no "savings" today from tomorrow's hamburger 70 years out.

But WTF anyway, given that our Illustrious Leader's Health Care System will ensure Everybody Lives Farily and Equalliy in a Socially Justifiable Manner Struggling in the Mines to 1,000 it will be meaningful to the dead.

EscapingProgress's picture

I'm in my early twenty somethings. I know that I will be receiving a social security check when I turn 67 (I think it's 67 for me, I don't really give a fuck though). The number on the check signifying its value will be fairly high, however, it will not buy me more than two saltine crackers. If I'm lucky I'll be able to trade one saltine cracker for one piece of cheese.

dark pools of soros's picture

You were that first Etrade baby right?

gwar5's picture

But they'll be too old to eat when they're 70.



Sick joke:

Banker and small boy walk into a dark forest after sunset.

Child: Oh no, it's all dark and scary!

Banker: Well how do you think I feel? I have to get out of here by myself.


michael_engineer's picture

Suspect they are just setting precedent as justification for when they soon deny retirement to people now approaching retirement age.

And as far as Europe goes, Quick, someone take a hundred dollar bill over there to the euro zone and run it around like super crazy as in the below example and all of the problems will be solved.

kaiserhoff's picture

Say what?  I can't predict what sort of mood Mistress du Jour will be in tomorrow morning.

lolmao500's picture

Predicting this kind of stuff is pure lunacy, history shows it. Predicting the future, especially 64 years out, is IMPOSSIBLE... Average folks will be wrong by a ratio of let's say 1000-1. When it's government, it's especially bad... the ratio would be 10 trillion to 1 off the wall.

Dr. Engali's picture

Yes maximizing your IRA helps... but it just provides another juicy asset for the globally coordinated government crime syndicate to steal.

McMolotov's picture

I store my children overseas for just this reason.

knukles's picture

I hope they're segregated and allocated from the rest of the open pit mine slaves


(owwwww touchy Knuks, touchy)

And BTW Fuck Paul Krugman.
Yesterday he'd rattle on and piss and moan about tangential shit but not answer any problematic questions whatsoever.  Duck the issues, personal attacks...
He is a threat to the very Existence of Humanity

Cognitive Dissonance's picture

"All of these steps are completely legitimate. And they're some of the best ways to avoid the coming theft."

For now maybe. But CONgress has a tendency to pass retroactive laws that tax or confiscate the good old days (long past) in order to get around the fact that some people are preparing for the coming heavy hand of government.

Think this won't happen here in the good old US of A? Just you wait. Desperate men can and will do desperate things.

<The games are about to begin.>   

Kitler's picture

I wonder what that little kid's kidneys are worth?

He's got two of them you know.

knukles's picture

Where's he from?
Depends... the death panel just might let you harvest both....

bank guy in Brussels's picture

Sovereignski Manski should be in Moscow right now

Helping make a deal for the Cypriots to avoid all the bullshitski

Bunga Bunga's picture

Zhirinovski wants Cyprus leave the EU and join the Russian Federation.

knukles's picture

Deal Will Be:

Russia bails out the banks (to keep their own hidden illegal illicit offshore money safe) in exchange for gas rights (keep the monopolistic choke hold on Europe) and basing rights for the Russian Navy

Remember, the Dream of Mother Russia has Always Been a Warm Water Port.

Pure Evil's picture

Well, actually the whole scam is to warm mother Russia up to allowing NATO to have its way with its wayward mistress Syria. Without the KGB's (Putin) consent NATO can't bring democracy and freedom to the Syrians by bombing it back to the stone age.

In other words allow us to ramp up the carnage, thereby drawing in the Iranians and by default, Hezbollah.

From Spengler:

"Iran responded to the Sunni insurgency in the obvious way, by sending Revolutionary Guard regulars as well as its Lebanese-based Hezbollah auxiliaries into Syria to fight for its ally, the Assad regime. Iran’s involvement prevents the loosely organized insurgent coalition from toppling a minority regime."

In order for Ben to keep printing, the war must go on.

Seasmoke's picture

To sum it all up..... Someone always gets screwed in a Ponzi pyramid scam.

buzzsaw99's picture

Am I the only one who sees how absurd this bill is and by extension this post? H.R. 1160, were it to be enacted, would have to stand unchanged for 64 years. Talk about kicking the can. Allow me to translate: We have no intention of cutting spending now or in the near future, but 64 years from now LOOKOUT!

knukles's picture

Great Political Kabuki Theater

Fits right in with the Hegelian Dialectic divert and distract


Happy Days are Here Again!

Leto II's picture
"If current trends continue, the typical U.S. worker will be considerably more productive several decades from now. Thus, one might argue that letting future generations bear the burden of population aging is appropriate, as they will likely be richer than we are even taking that burden into account."

-Ben Bernanke (October 4, 2006)
dark pools of soros's picture

What does a banker know about being productive?

hannah's picture

todays 6 yr olds will live to either 150yrs ....(so that retiring at 70 would be great)...or they will only live to the age of 23 so it wont matter. my opinion is that when the shtf, the average live expectancy will be 23 years.

RafterManFMJ's picture

Today's 6 yr olds will not live past 25 as they pick through garbage piles for Fukashima irradiated melon rinds while dodging insane sentient killer drones.

hannah's picture

maybe we are too doomer. maybe obamacare actually works and we live for 75 more years....but my luck, obama would be the first dictator for life and those 75 years would be spent waiting for him to speak at an event every fucking day....

RafterManFMJ's picture

Dear Hannah, ObamaKare requires you to report to the Sleepshop, where a Sandman is waiting; say your goodbyes, and thank you citizen. FORWARD!