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Congress Proposes A Chilling Resolution On Social Security
Submitted by Simon Black via SovereignMan.com,
On August 14, 1935, President Franklin Roosevelt arrived at his desk to sign the Social Security Act into law.
It had been a contentious legislative process, something like the Obamacare of its day.
Fiscally conservative politicians derided the program for its obvious long-term costs, the massive bureaucracy that it would create, and the huge tax increase that it represented on workers.
But Roosevelt was able to find support, and the law was passed.
And just before signing it, he proudly proclaimed that the law would go down in history “as a protection to future administrations of the Government against the necessity of going deeply into debt to furnish relief to the needy.”
Needless to say, that didn’t happen. Quite the opposite, actually.
Just like most western governments, the US government has gone deeply into debt to fund its social insurance programs.
Officially, the US government is now $18.5 trillion in debt, and Social Security is the biggest financial sinkhole in America.
Social Security’s various trust funds currently hold about $2.7 trillion in total assets; yet the government itself estimates the program’s liabilities to exceed $40 trillion.
And Social Security’s second biggest trust fund, the Disability Insurance fund, will be fully depleted in a matter of weeks.
The trustees who manage these massive funds on behalf of the current and future retirees of America are clearly concerned.
In the 2015 report of the Social Security and Medicare Board of Trustees they state very plainly:
“Social Security as a whole as well as Medicare cannot sustain projected long-run program costs…”, and that the government should be “giving the public adequate time to prepare.”
Wow.
Now, we always hear politicians say that ‘Social Security is going to be just fine’. So this Board of Trustees must be a bunch of wackos. Who are these guys anyhow?
The Treasury Secretary of the United States of America, as it turns out. Along with the Secretary of Health and Human Services. The Secretary of Labor. Etc.
These are the folks who sign their name to the report saying that Social Security is going bust, and that Congress needs to give people time to prepare.
And prepare they should.
The US Government Accountability Office recently released a report showing that tens of millions of Americans haven’t saved a penny for retirement; and roughly half of Baby Boomers have zero retirement savings.
This means that there’s an overwhelming number of Americans pinning all of their retirement hopes on Social Security.
Bad idea. In a recently proposed resolution, H. Res 488, Congress states point blank that Social Security “was never intended by Congress to be the sole source of retirement income for families.”
Apparently they got the message from the Social Security Trustees and they want to start preparing people for the inevitable truth.
This is no longer some wild conspiracy theory.
The Treasury Secretary is saying it. Congress is saying it. The numbers are screaming it: Social Security is going to fail.
Ultimately this is a just another chapter in the same story– that government cannot be relied on to provide or produce, only to squander and fail.
Sure, their intentions may be noble. But this level of serial incompetence can no longer be trusted, nor should we be foolish enough to believe that some new candidate can fix it.
If you’re in your fifties and beyond, you’re probably going to be OK and at least get 10-15 years of benefits.
If you’re in your 40s and below, you have to be 100% prepared to fend for yourself.
Fortunately you have time to recover. Time to build. And time to learn.
Financial literacy is absolutely critical here, which includes the ability to both generate income and manage money, two things that aren’t taught in the government controlled education system.
You might also consider some lifestyle adjustments, which may include moving abroad where your money can go much, much further.
Ultimately, learning to rely on yourself is no easy task, but it is an incredible opportunity to become more free.
And in doing so, one day you will no longer panic about the decisions being made by incompetent bureaucrats, because you will be the one in control of your own fate.
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Can't they just solve the problem by devaluing the $?
After all is said and done, yes.
Yes, and the only difference old people will notice is that their entire monthly check will buy 1 loaf of bread.
yep, read a book in the early '90's called Social Insecurity, good read about the future
http://www.amazon.com/Social-Insecurity-Americas-Security-Financial/dp/0...
IF you believe in this "trust fund" stuff, SSN isn't in that bad shape, and it can be extended another 40 years just by nibbling around the edges, merge the deductions into the general fund so higher incomes are taxed and unearned income is taxed and contributes. Raise the age slightly as scheduled. Cheat on the cost of living increases. Maybe give wealthy recipients a small deduction if they voluntarily forego payments.
The problem is there is no lockbox, the "trust fund" has been a hoax from day one, and the supposed trillions there don't exist, must be printed, and that starts now. But that may be OK too.
.
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"raise the age slightly" (check)
"cheat on cost-of-living adjustments" (check)
"tax higher incomes" (not likely, can't touch the cabal)
"print more FRNs" (sorry, that's for the MIC and TBTF banks)
I find it horribly ironic that those most responsible for the current status of SS are those who most stridently demand someone else save them from the unsustainability of SS.
I too have paid into SS since 1980. But I listened to the SS reform debate in 1981-1983 and came to understand that it was a doomed concept.
If you screwed up, take responsibility.
Be a man (or woman) for God's sake and own up to it.
Don't run to your local politician demanding that they put your children on a sacrificial altar to pay for your mistakes.
If you do they will be right to turn their backs on you.
If you don't, they will likely abandon you anyway, because the scale of the request doesn't let life go on.
But you can go with head held high, feeling proud of yourself.
There is nothing that can stop the end of life for any of us. That is the reality of life. Everyone with a beginning must also have an end.
Do you want to go cursing fate, your children, humanity, and hurting as many as you can?
Or do you want to be someone admirable??
Obviously too few saw "The Cowboys". John Wayne was trying to teach us something.
That relying on children will get you killed?
Great movie, regardless of the sarcasm.
Rewatch the scene with Bruce Dern.
He intentionally provoked the man to kill him in order to save the kids.
Good ole .gov, always there to collect their taxes. Just dont count on .gov for much of anything.
I was thinking maybe I'd start a private fund similar to this... but then though... they would probably send me and all others involved to jail...
humm...
I'd take the cash, if they paid me out what I paid in -- plus Interest at 8%.
I'd then join the MENA Refugee Caravan, headed for Germany.
Bye-bye USSA, hallo Mutti!
I'd take the cash if they gave me 50% of what I paid in.
A bird in hand is worth 50 in the government's future bush.
It is government.
The only way you're getting an additional 8% is if they print it.
In which case your new 108% will only buy as much 'stuff' in the real world as the old "100%".
Haven't you ever played Monopoly long enough to discover that as the amount of money in the bank rises, the prices on all the properties rise to an equal degree?
You can't beg interest from people who "borrow" money from you while sticking a gun in your face. It doesn't work that way.
If they didn't intend to screw you, they'd never need the gun in the first place.
SSA not collecting your "Contributions" at gunpoint?
Stop paying. I promise you will see the guns.
A tax by any other name is still a tax. Different politicians call their tax increases by different names, but it is all fungible (even if they say it isn't), since they borrow between and intermingle all these funds to pay for their various pork projects. Relax and enjoy being taxed, same as your income tax, property tax, sales tax, medicare tax. On the other side, the govt always wants to make handouts to folks on the margin......and it is always going to be debatable whether this enables them to continue to be on the margin or whether they are really needy....this will never go away. If you reap a few pennies in your old age which is supposed to be a SS payment...don't look at it that way....a handout by any other name is still a handout.
But don't count on handouts until you cash the check (and can convert it into something that clinks).
Medicare and Social Security were not ponzi schemes until the government(S) buffed their tills and replaced the funds with worhtless bonds they are not allowed to sell. If Fucking Americans want to spend 60% or more of their money on their military then yoy can expect shortages elsewhere....maybe the CIA and the Marines will open retirement homes for the older population seeing as the people continually give them the lion's share of federal revenues? After all you guys elect 'em without any claims on how they behave after elected so wear you disfunctional society with pride.https://www.youtube.com/watch?v=16Kx0QlksZQ
The reason why we give 60% of our money to the CIA and the Marine Corps (snicker) is so we can loot your country when we run a little short on Retirement Day.
So work harder there, peon. We're counting on your thriftiness and we'll see y'all real soon.
Take a look at this:
https://www.ssa.gov/history/court.html
It is the Social Security Administration's own record of the 1935 "Helvering vs Davis" decision.
And you might want to review this:
"Section 201 of the Social Security Act, “Old-Age Reserve Account,” was replaced by a new Section 201, “Federal Old-Age and Survivors Insurance Trust Fund.” The only substantial change was elimination of the transfer of revenues from the Treasury’s general fund via specific annual appropriation to the Reserve Account. Instead, a sum equivalent to the Social Security taxes received and put into the Treasury “is hereby appropriated” to the Trust Fund for the fiscal year ending June 30, 1941, “and for each fiscal year thereafter”—that is, automatically."
So...
Which year was it not a Ponzi scheme??????
LOL, the SS Trust us fund.
Obama's Myra is really another scheme to swipe money and spend it.
Before they implement any changes to Social Security ...
I want to see a 25% cut in ALL Congressional salaries and a 25% cut in all salaries for the Administration - up to and including the President.
Because for darn sure - these people have known that these problems with Soc Sec were coming for a long time and they didn't get off their lazy b*tts to fix anything. But they did keep lining their own pockets.
You don't understand,,, they fixed it all,,, off shoring jobs,,, on shoring professional whores,,, low wage 'immigrants" ,,, ZIRP,,, QE,,, Nafta, Cafta, Gatt, TPP.
They've been real busy working just for us.
So they are saying: Prepare to not be getting much benefit from SS, but in the meantime, keep sending in that money you won't be getting back so we can pay others. There's a word for this type of scheme.
BINGO
Pretty soon living in a thrid world country is going to be better than this shithole.
And, nobody gets a "thanks" for sending their kids in for cannon fodder to perpetuate the system.
They do collect the insurance if their unlucky hero gets taken out.
The Congress is REPUBLICAN! Do you I need to say anything more? They want to increase the military budget and give every nut-job in the Armed Forces a raise!
Isn't there a huge deficit ALREADY. So the SS Trust Fund is a myth but Congress is free to spend-at-will any amount on the military contractors? How many billions are they going to spend on useless NSA computers and software? Yet the same assholes salivate at the prospect of cutting Food Stamp program by a few billion.
Only brain dead Americans pay tax and work on the book.
90% of the people on early disability should be removed from the gene pool. Forcing the public to subsidize defective people's survival is insanity.
People need to survive any way they can in a monopoly system. If we aren't allowed to fend for ourselves, some people will find ways to eek out a living from "the system".
Besides, "the public" doesn't pay for anything except its own aquiesence to the aristocrats and their "government". The people who are well taken care of by the system can't complain about those who aren't. That's always been the deal.
I'm pretty sure there's money that comes out of my check for them...I don't know what you're talking about but it definitely feels like I'm paying for something.
Your paying for the privilege of living in the land of the fee and home of the banksters all brought to you by our benevolent government that cares about you!
The fact anyone downvoted this is proof we're doomed.
You were down-voted for the stupidity of the statement. I did not down vote nor up-vote...just giving you a reason. BTW - based on your "thinking"; kill all the elderly and the newborns; especially the newborns, all they care about is there milk and contribute nothing.
The "government" can never run out of money. The Federal Reserve printed $14 trillion and handed it out to the central banks of Europe and JP Morgan. They printed money and kept all the usual suspects afloat in the US. And yet somehow when it comes to feeding and housing hundreds of millions of people (the reason the "government" claims to need all its power), there isn't a penny?
Don't give us this bullshit about devaluing the dollar when they've proven there's no inflation after printing trillions. (That's what they claim, right?)
Governments do not need money. Governments can print as much money as they want, there is never a shortage of it in reality. They use money to effect the will of the political class on the people in such a way the people accept the domination. If they didn't, the people would see the gun that is the real power behind "government".
The Social Security farce is a giant crack appearing in the veneer of civility that "government" uses to bludgeon people into submission.
Real money must meet three criteria (1) unit of measure (2) medium of exchange (3) storehouse of value.
Government fiat fails the real money test because number 3 depreciates in value for each piece of paper printed with numbers, text and graphics. My dollar is not a storehouse of value; it is worth far less in the marketplace than the cost of paper, ink and the labor to produce it.
Government has failed the people; it must be dissolved.
I fully expect Obama to gallop in and save the day, just like he did with healthcare.
........or something.
Not too many future overlords will be elected on 'we're ending social security'. LIE LIE LIE.
Well, at least now we will know the "event" that will set off the SHTF type riots we have all been planning & preparing for.
I know my elderly father would actually go rogue if the check didnt arrive. He's one of those who is pinning his golden years on SS.
mobs of armed elderly, god help us all
One of the things that happened after 2008 was that the government cut back on witholding as a way of powering a quick burst of stimulus. But this naturally further imperiled the fiscal stability of the various gimme dats down the road.
And we're down the road. No surprise to me that the bill is mysteriously coming due sooner than anticipated.
When does it end?
Not until they've plundered the last big honeypot on the planet-- your IRA and 401k stash.
Isn't it really all about "faith" in the US backed "currency"; given they counterfeit trillions already; technically they can fund any and all via "thin-air" and isn't this what they are and have done since the Gold Standard was finally done away with?
This always and will always come back to Agenda21; every policy that is put out there is designed to impoverish and destroy with an ultimate goal of 500 million people. Since people buy the lie of the "goo to you via the zoo" or you evolved from apes...then it is perfectly logical to assume that some are superior and others are inferior and assume the earth is some fragile egg and that it has finite resources that are being used way too much and therefore the superiors must eliminate the inferiors in order to protect mankind from self destruction and protect the resources for future generations.
Ones belief about origins will determine their worldview and who they worship (i.e. mother nature) and devalue human life. We see all of this everyday from the womb to the elderly.
You are espousing what they have come to believe, or at least bet everyone's farm on.
But the truth is that they cannot endlessly create new trillions out of thin air. Or, to put it another way, they can but they will be trapped in an internal loop once the populace declines to accept them any longer. The authorities everywhere are entering a phase where they issue bonds in return for newly-shazaamed trillions, which the government then spends to support its bonds by buying them itself. Less and less real world interaction is taking place. But they still fool themselves into thinking that it is only until conditions improve.
Come out of her, my people.
Sorry goyim, Israel needs more of that vassal income: http://www.ynetnews.com/articles/0,7340,L-4721343,00.html
Listen to this interview of Bill Whittle by Stefan Molyneux and you will hear exactly why nobody is saving for their retirement and why nobody will save for their retirement until the day comes where the system implodes.
https://www.youtube.com/watch?v=vY-ueR0OLlQ
Thank You for that link. Immensely interesting.
Human philosophy; foolishness and never solves anything...more like gossip.
I'm sorry...I'm paying 15% of my salary for what again?
-Argenta
And the other 30% called Federal Income taxes?
For the F-35, the 1.5 trillion dollar boondoggle that should be able to get airborne in 2019. The trillion dollars a year going to six sick banks, gambling debts and bonuses. Moving all jobs off shore using treasury money. Enrichening the .1%. Any more questions?
Look on the bright side, after you pay other Federal, state, local and other fees for no services and gas taxes and sales tax and a few others...that 15% is nothing compared to the other 45% they steal from you.
That 45% is just the beginning.
Add in all of the layers upon layers upon motherfucking layers of hidden taxes on anything you purchase and that 45% rises to over 70%.
The biggest sinkhole in the US is the military budget which should be cut by 70%.
This is just letting us know that the time is soon coming when all the 401k funds of those greedy, selfish people who did without to save money, will be confiscated to make up for the SS deficit.
Ive paid in every year to S.S. since 87' Remember one thing. FUCK YOUR GOVERNMENT. THEY ARE FUCKING CROOKS! DONT FUCKING PAY THEM! DONT MAKE THE SAME MISTAKE I DID! IM ONLY 44. Ive worked and paid into a system since I was 15, I hope we fight this pathetic horse shit. Sorry excuses of life run our government. Its time they open up the entire government and we find out WTF IS LEFT? These mother fuckers shouldnt be receiving their benefits either, its only fair! We need to cut these fuckers off!
What is it going to take people? ARE YOU GOING TO LET THEM TAKE EVERYTHING? Everyone needs to refuse to pay income taxes! CUT THEIR BENEFITS FOR POOR/FRAUDULENT HANDLING OF FUNDS!
Its not the system it was the scumbag politicians that took the money! Scum of the earth. They better get to work because they owe the American people some money! I have a bull whip just for these fuckers! We'll learn them what work and money really is!
Long MyIra's
This is what House Resolution Resolved. I don't think this is much of a solution to the Social Security Ponzi Scheme.
Now, therefore, be it
Resolved, That the House of Representatives--
(1) supports the goals and ideals of National Retirement Security Week, including raising public awareness of the importance of saving adequately for retirement;
(2) acknowledges the need to raise public awareness of a variety of tax-preferred retirement vehicles that are used by many people in the United States but could be used by more; and
(3) calls on States, localities, schools, universities, nonprofit organizations, businesses, other entities, and the people of the United States to observe National Retirement Security Week with appropriate programs and activities, with the goal of increasing the retirement savings and personal financial literacy of all people in the United States, thereby enhancing the retirement security of the people of the United States.
Link please..thanks.
https://www.congress.gov/bill/114th-congress/house-resolution/488
There's lot of mythology to debunk, here.
SS did not start getting transferred to the General Fund, to be replaced by Treasuries by LBJ in the 1960's.
SS contributions went into the general fund from the very first day. See the government's argument in the 1937 SS decisions "Helvering V Davis" HERE:
https://www.ssa.gov/history/supreme1.html
WHICH SAYS:
"The first section of this title creates an account in the United States Treasury to be known as the "Old-Age Reserve Account". Section 201. No present appropriation, however, is made to that account. All that the statute does is to authorize appropriations annually thereafter, beginning with the fiscal year which ends June 30, 1937. How large they shall be is not known in advance. The "amount sufficient as an annual premium" to provide for the required payments is "to be determined on a reserve basis in accordance with accepted actuarial principles, and based upon such tables of mortality as the Secretary of the Treasury shall from time to time adopt, and upon an interest rate of 3 per centum per annum compounded annually." Section 201 (a). Not a dollar goes into the Account by force of the challenged act alone, unaided by acts to follow."
TRANSLATION:
SS contributions ALWAYS went directly into the General Fund. The government would replace them with a Treasuries sufficient as an annual premium ANNUALLY.
There is no real trust fund. There never has been a real trust fund. Your SS contributions have gone into the General Fund from DAY 1 (in 1935). The government puts enough into the 'Trust Fund' EACH YEAR to cover the payouts according to actuarial tables.
I am reporting 1937's news here.
Why didn't you already know?
thankyou. Yes, the SS Act required State /federal cooperation (compact clause). lOOK at the language of the ACT. Unemployment/ Old age survivor. These are STATE POLICE POWERS. Another fact that seems to have been missed by the majority is that when the States handed the feds their police powers, they gave the feds the power to do that which the States themselves were prohibited from doing. That is INTERFERE WITH THE OBLIGATION OF CONTRACTS.This fact has never beeen adjudicated however the USSC in a separate case explicitely denied the power of the States to do this.
Voluntary application into the system operates in law as a WAIVER of the individuals constitutional judicial protections of Contract and Property in exchange for what the courts would classify as extraordinary protections paid for with money from the publics treasury. A PRIVILEGE!!! And as .gov can tax (EXCISE) the privileges it creates, it was now handed the power to use the WAGE (PROPERTY) as a unit of measurement to calculate the indirect excise.
Another blow to the federal constitution as DIRECT TAXES ON PROPERTY must be apportioned. But that clause is now irrelevent via direct State action AND in addition to the fact that PROPERTY was WAIVED upon application for the PRIVILEGE.
Look to the first Obama Care case and read the comments of the dissent as to the issue of federal direct taxation. The USSC knows tghere is a problem with the taxing ACT that made obama care possible. ALL roads lead back the the SS ACT.
Let's be clear about what will happen when the so-called "trust fund" runs out. It just means that it will no longer legally be able to run deficits any longer. This means that Social Security benefits will be limited to the Social Security tax revenues that come in. It doesn't mean that people will get nothing. If I recall correctly, beneficiaries are expected to take a 20% cut in benefits when the trust fund runs out.
This isn't a defense of the system by any means (personally I think we should allow people to opt out of Social Security and Medicare). It just clarifies what will happen when the trust fund runs out.
Your Quote: "beneficiaries are expected to take a 20% cut in benefits when the trust fund runs out.""
When are our politicians going to take a 20% cut? I think they need a benefit cut immediately. Their performance is dismal and fraudulent. Useless Fuckers! They waste what good air we have left with their B.S. There should be no cuts and we should liquidate the excess government B.S. Cut their salaries and benefits...... After all the corporations are providing plenty of income for them to survive more than comfortably on, why should we have to? Once we cut enough B.S. we can increase benefits for the first time instead of cutting them. Alls I can say is FUCKING CROOKS.
Hey Congress, Instead of IOUs we will take all those aircraft carriers, fully loaded.
Where is Repo Man when you need him.
Got any TPP? Full text is out.
Kinda funny,being the worlds' policeman and going around the globe bombing countries into rubble.Lots of aircraft carrier groups to spend money on.I've never liked the way U.S. Government treats its own people yet it is best bum-buddies with an outfit like Saudi Arabia who is responsible for most of the terrorism today around the world.No money for your own.
Works fine...give money to terrorist host countries that in turn fund terrorism so you can continue to borrow on the backs of your citizens to "fight" the terrorism.
Anyone who has ANY faith in "the system" to take care of them in the future is a willful idiot. To believe in social security is to believe in this: "We take your money NOW and give some of it back to you decades later...maybe." It is 100% a scam of multigenerational theft. The old parasitize and destroy the young: the opposite of any functioning organic system.
Anything you depend upon government, think about it then fingure out how you could live with out it. I've divested as much as I reasonably can out of this corrupt system. You should too if you have not yet done so. I mean, DUH!
But Im forced to pay into it. FUCK THEM!
Funny you used the term "willful idiot"; that is what God says about mankind when he works his way to hell then can't understand; the term is "willful ignorance". I digress.
Maybe I'm missing something but "H. Res. 488, Supporting the people of Venezuela as they protest peacefully for democratic change and calling to end the violence" doesn't seem to be about social security.
Nice try, play again.
H.Res.488 - Supporting the goals and ideals of National Retirement Security Week, including raising public awareness of the various tax-preferred retirement vehicles, increasing personal financial literacy, and engaging the people of the United States on the keys to success in achieving and maintaining retirement security throughout their lifetimes.
https://www.congress.gov/bill/114th-congress/house-resolution/488
Nice try, play again.
H. Res 488 in 114th Congress. There is probably a H. Res 488 for every Congress going back to the Lincoln presidency.
I am on disability and my spouse has already decided that retirement is out of mind and out of sight & Social Security will not be there. Retirement is a new phenomenon in recent times (1940 ish) and was only for the very wealthy who can never really retire because of all the responsibilities that come ith being filthy rich.
Since I am in forced retirement; I now appreciate my work more than I ever did and looking back...I complained, along with everyone else, about what was wrong here & there, rather than appreciating what was right and not getting caught up in "gossip", which is sin.
Believe me you cannot retire on disability nor is it easy to get as many suppose. With one major exception; take SSRI's (depression) and do drugs, but that presumes you have a work history.
I suspect that in the next 10-20 years that multiple marriage partners will be the new norm in order for people to survive. They better start planting the seed now; no I do not approve of such a thing...marriage is ONLY between one woman and one man till death do you part.
I hear you! However I live where polygamy is common and it's not an answer as there get to be numerous kids and the parents go on welfare. A better idea is a sort of commune or quasi religious group as in the monastaries and convents, Hutterites, Mennonites and Amish. Most people do not have what they take. I have studied social groups of these sorts for years. I am also thinking that the people are being actively "herded" via the terrorists who really run what's left of this country.
Can we remove this asshole fascist's face from Mt. Rushmore?
Let's do it Taliban style!!!
Done
Edited to add: He was never on Mt. Rushmore.
Washington, Jefferson, Lincoln, and T. R. are the four faces.
Interest rate swap market is closer to $500 trillion, less than 10% of SS liabilities. It's all relative...
It is not a mystery that the fascist in government simply stole the money in the Social Security Fund that would have been self-sufficient without the theft of funds.
The bankster/government Washington Empire of Debt, Fraud and Chaos fascist (merger of government with corporate monopoly) have criminally stolen USA treasure and trashed our democracy.
It is time to take the USA back and trash the cabal of fascist in control by acting in our own self- interest.
There is no money for the sick and elderly. But there is always plenty of money for war and bombs and bullits and killing people and overthrowing governments that don't embrace private central banking and Zionist rule. What fucking bullshit. If you believe this, you might as well bend over and grab your socks.
Translation: You old folks can starve to death, because we neo-cons need the money to bomb foreigners to death (which gives us too much joy to cut back on).
I'm going to disregard game laws and use a crossbow in the off-season for free meat.
Already got the area I'll be poaching in staked out. Be a good place to grow dope too.
You are a real peach, honestann.
Just get a government job. Their pensions will be just fine.
The pensions already have been stolen. This will be obvious by the next market crash and when hyperinflation kicks in.
Good thing the Social Security Administration stocked up on .357 Sig 125 grain bonded jacketed hollow point pistol ammunition!
/sarc
And people are supposed to save for retirement WHERE??? I suppose YOUR IRA and pensions are all well funded? Even the most conservative have been slaughtered with near zero interest, "The Market" is an unholy casino owned by machines, gold and silver are being surpressed. There are no term limits on Congress and the people have little control now over elections.
What are we going to do with those genuinely disabled? The quadriplegics. paraplegics and those maimed by other means? We can bomb hospitals and run endless wars that produce endless misery, protect poppy crops for pennies with our troops while mecenaries get the untold big bucks. We can set down pallets of money here there and everywhere. I really want to know! Who is willing to have both sets of in laws and their crippled son in law live in their homes? That is how the Syrians and many others live.
I'm 71 and my husband 83. We DO live in our son in laws basement (though it's an uncommonly nice one) in a nice house our son in law got after spending nearly 1 month in an SICU, another month in critical care and many, many months in and out of surgeries after hed'd been hit by a car while on the job. The only thing not buggered on him is his right leg. He's half blind and his right arm doesn't work at all. Guess he's going to run riight out and get a job? In this mess? HE'S 43... His wife can't get a job unless she wants to flip burgers (she's doesn't) she's an accountant.
So if you think because your're young enough and able enough be warned. A split second and disability could be yours!
And why the hell is everyone just laying down for all this, rationalizing about deadbeats? You know only a few are deadbeats.
Here's one idea, although I don't pretend to be able to touch the skirts of the financial geniuses on zerohedge.
Roll all your money into a self-directed IRA. With that money, purchase some rental property, as part of your 401K. They have banks that can assist you with this. Just look for self directed IRAs won the world wide web. The rents go into your 401K as part of your retirement plan.
The other idea is the wealth widow/widower plan, but that's only Plan E, after all the others don't work out.
There won't be enough greeter jobs at Walmart!
Hey, ya know all you have to do is leave the country and come back as a "refugee"
You seriously need to read this shit. Free money from FEDGOV.
http://www.acf.hhs.gov/programs/orr/programs/ida/about
Lets do it! Too bad chances are they wouldn't be letting our asses back in.
https://www.youtube.com/watch?v=gJ-bhM-xuec
If people die before they're 65 what happens to all the money they paid into Docile Security? I guess .gov sends it all to heaven, right?
I'm in my late 30s and had a teacher in grade school tell the class that we were unlikely to ever see social security and for whatever reason I never forgot him saying that, so this ponzi must have been apparent to those who had the eyes to look going way back.
As this national realization nears it just becomes more likely that the boomers will eat TPTB livers with fava beans, I hope I live to see it. Hopefully the Boomers wont be satiated by Sucking Sam harvesting of the rest of our financial carcases alone. Liver is supposed to be SUPER good for you.
You can easily see a scenario down the road (if it's not a good idea already) where the last of the productive class just throw in the towel, liquidate assets into metals or whatever and refuse to participate in feeding the ugly dark money hole. Once people are paying more in tax then they keep the clock has already begun ticking, of course, the ratchet will continue to tighten from there.
Another conspiracy theory proven fact.
Someone wrote a novel along that line once...
yeah, someone wrote a novel along that line, but the novel stunk, and the fascist that wrote it was a money whore that sucked Corporatist cock like Linda Lovelace in Deepthroat.
All Social Security is, is another tax, nothing else. I would like to see what politician is going to level with the people, and tell them that the giant ponzi that is SS can't continue any longer. THAT IS NEVER GOING TO HAPPEN. At least not as long as we have the system that we have now. maybe later, after the gloves have come off, they will level with us.
Today's FRN USD is worth approximately 0.13 of a 1913 dollar, tomorrow's government funding through whatever smoke and mirrors are necessary to convince the sheep that the thieves are not monetizing will drive the physical goods and services value of the then FRN USD to 0.01 or less.
The Social InSecurity Ponzi will be funded, with essentially worthless fiat.
Long wheelbarrows and unfortunately, lead.
If you do not have a tradable skill, acquire one now.
A failed Social Security is the most accurate sign of a failed state.
We REALLY need to get Hillary into office. She "fix" everything.
LOL! They want me to keep my money in a savings account? Or in a nice safe 401k? Oh thats rich!
I cant wait to see the free shit army eat itself.
That's nice that Congress cares so much about the Social Security obligations it has towards working class Americans in the golden years of their lives. In brief, all Congressional employees are millionaires and will not need social security in their golden years, but their collective empathy for the poor working class Americans they are about to fleece is quite touching, and warms all of our hearts in this seasonal time of year.
Americans must be so proud of the professionalism that members of Congress demonstrate when we are in such financially tough times. Clearly, they are deserving of accolades for their humanitarian concern.
You should see their retirement and benefit program!
I love how everyone blames the baby boom generation for the problem but never mentions the huge surplus that should have accumulated while baby boom generation was all paying in
They never really did the math. Thats the part thats funny. The boomers were actually taught that shit in school. Kids today are not but got it anyway. Yet ask most boomers now about it. They are math resistant. It just bounces right off their mellon. If I was a boomer Id be throwing rocks an shit pissed off!
Oh well if the boomers are ok with it?
Please all boomers dont ask me to fix it for ya. I kinda have a full plate now. Biggr fish to fry as they say. Thanks!
Surplus?
Surplus of what?
SS contributions do not go to any trust fund. They NEVER went into any trust fund.
They were paid directly into the GENERAL FUND since 1935.
Read Section 201 HERE:
https://www.ssa.gov/history/35act.html
It is only a short paragraph.
It says that the Treasury 'Invests' current contributions. Then ANNUALLY, the Treasury was to deposit enough currency to meet the current year's obligations.
What, pray tell, is it possible to invest such an amount on without blowing it up like a bubble?
TREASURIES.
There was no surplus EVER. The money has been spent as soon as received FROM THE VERY BEGINNING.
Read Section 201.
Read it.
This post is almost as long as the paragraph.
Honestly, why do people of your generation continue to assert what you and your parents told yourselves, when the SSA's creation document contradicts you???
If you are in your 40's or below, "you have time to recover"
Oh yeah? How? Negative interest on "savings"? The stawk "market"?
Go fuck yourself.
Exzactly. Their ZIRP, QE and inflartion will devour any savings you have or are trying to have. They don't want anyone to save, you hear it all the time,,, spend, spend and spend. When the data come out monthly they always jump on those damn savers for not spending.
As a boomer I saved expecting a reasonable interest rate. I am now getting screwed on all fronts. Zero interest and massive price increases which never appear in their inflation measuring charts.
The tripple whammy is O-Care. I have a wife I will have to insure through that monster.
All this would not even occur had they not exported our production and good paying work. These trade treaties and wars are killing the economy and they just keep doing it.
I could not come up with a better plan to destroy this country than what this government is doing.
Maybe the people will wake up and start reading the CAFRs for their town and states and realize that the so-called "rainy day funds" have more than enough stashed away to cover their retirement. Maybe the folks will conclude it's already raining, that their govt is really full of sh*t, and will tell their Reps to go pound sand and take back their country and assets, along with the income they generate, which actually belongs to them, not the govt. Wait, Dancin' with the Stars is on - never mind.
funny how welfare and entitlements are never running out...
I'll be 65 in 12 years. I'll be astounded if I ever lay eyes on a social security check.
NAFTA agreement between US, Canada and Mexico allows Americans to go to either country and receive their SS payments based on earnings, it states.
You cannot retire in Canada but there may be methods of getting there if one is creative. Of course, US tax liability is also recognized in Canada.
http://sputniknews.com/politics/20151107/1029727590/canada-dion-israel.h... (more reason to move to Canada)
""Israel is a friend, it is an ally but for us to be an effective ally we need also to strengthen our relationship with the other legitimate partners in the region," Dion said."
Read more: http://sputniknews.com/politics/20151107/1029727590/canada-dion-israel.html#ixzz3qlbknU9Pi thought i read somewhere that they 'snuck' into law that 66 is the new retirement age-
So instead of Congress tryng to fix the problem. They throw gas on to the fire by just recently taken over a hundred billion out of the trust fund.
There is NO trust fund. The scam even extends to ZH'ers.
RELAX, people. This is a lot of excess hype.
The only reason there is an immediate problem is that Republicans have deliberately blocked a routine measure to re-apportion the internal finances of Social Security from "pure" retirement to "disability" retirement -- a trade that has been done repeatedly over the last fifty years with no ill effects when one account is running substantially lower than the other. BOTH funds are Social Security funds based on moneys paid in payroll taxes over a working career -- NOT the infamous Supplemental Security Income, which is paid to people who have never worked a day in their lives.
Technically, on paper, Social Security is fully funded for at least 20 years, and after that the Baby Bummers will start to die out and expenditures should go down. The only problem is that that "paper" is invested in U.S. government debt -- aka Treasury Bonds. Now, if the government decides to DEFAULT, Social Security is in trouble -- but so is just about everything else. The trick is that Certain People have tried to encourage it to do just that -- DEFAULT -- but ONLY on Social Security, and claim that it was the program itself that ran out of money. And that's bullhockey.
The program has been charging every worker since 1982 a good three percent more out of every paycheck than our grandparents, parents, and older cousins paid (you know, the ones who toured the country in souped-up mobile homes for thirty years on their Social Security checks), and it has been charging that for the last THIRTY-SIX YEARS. Social Security was required to INVEST those payments -- which were not needed for current benefits until 2012, I think -- in U.S. Government bonds, because that was considered the "safest" investment on earth. Now, what the U.S. Governement DID with all that money was flush it down the toilet on boondoggles, corruption, and losing wars over other peoples' problems. But that's not due to mishandling of Social Security. That's Your Government In Action. If the Government pays its debt to US, THE PEOPLE as promised, there is nothing to worry about. If the Government decides to default, we should do what any good creditor does with a deadbeat: sue its ass until it bleeds from every corrupt Capitol Office Building.
And if Social Security has a genuine problem after all of that, there IS a solution known to every high-schooler and Millennial: force the rich to pay Social Security on EVERY DOLLAR of their income, capital gains as well as earnings, just like the poor and middle class do. Eliminating the "cap" on Social Security taxes for earnings above upper middle class is enough to generate all the additional funding the program needs until well after the U.S. of A. has dissolved into a bickering collection of regional states.
LOL
Ah, c'mon, don't hold back, and tell us what you really think?
Disengage from the system as soon and as much as possible.
Start a small community of like minded families/undividuals on 100 acres of nowhere.
Community self sufficiency (solar, wind, filtered water from tanks, green house food crops, heirloom seeds, smokehouse, barter etc.).
Amish style but add technology and self defence (security system, wireless internet, battery power storage, legal small arms etc) .
Gift/sell cheap excess produce to neighbors. You will be shocked at how cheap this lifestyle is.
None of this appeals to you?
Sounds hard?
Fucking starve then.
That's why we now have the MYIRA account to sign up for. Because the first Safety net program didn't work but this new and "improved" one will. Because as every shitbird progressive will tell you " we are the ones you've been waiting for."
Dear big government types. PLEASE FOAD YOU PARASITE MAGGOTS!!!
For the record I tried.
How many Americans really believe the government will actually help them, ever?
None, Rember this if you ever are called to grand jury service!
Well put expat.
Well being in my 40's its quite apparent I need to stop paying in to S.S. and start thinking about myself and my family which I already do, but how im I still obligated to pay into S.S. knowing its a fraud? Ive dumped my fair share in the black hole! LEAVE ME BE, I have paid into a fraud S.S. system for almost 28 yrs. What a joke. Just the fact that it goes into the general account makes it a fraud, remember the little statements that used to come once a year that said you were going to get something after paying in to "S.S." the system? This should stop immediately, Im being raped by UNCLE SHAM. FUCK OFF UNCLE SHAM! The people who work need to stop feeding this system money, by no longer supporting it financially and we need to do it together.
What's wrong with recreating Dickensian circumstances???
If that's what's coming, why is then this entertainer in the WH saying that 'America must write the rules" -for TPP that is.
Who wants those rules? I won't live long along to see the Dickensian circumstances coming to my front lawn, but I have a responsibility for future generations to speak up. If this is the result of NAFTA and the second helping of TPP is forcefed to us we might find a way to kick a.....
Not to worry - one of our future transgendered, multi-ethnic Presidents will redistribute large portions of the investment balances you've managed to accumulate (soley due to your white privelege) to the more deserving, impoverished and vibrant elements of the population.
Only if you SAVE in FRN's.
LOL
the money was and is being stolen. the program isnt a fail.. its a kleptocracy of Oligarchs stealing it for themselves
fuck you simon. fuckyou wall st banksters
#BankstersAreTerrorists
FRNs are NOT "money"!
1oz Silver American Eagles €12 @ EurGold
https://www.eurgold.eu/silver/silver-coins/american-eagle-1oz-silver-coi...
It's not just Social Security. Nobody is getting a pension or a carefree retirement except our masters.
Everyone else will see his pension defaulted on or hyperinflated away, leaving him to either work till he dies or depend on the kindness of his children and their just possibly resentful spouses---if any.
Doesn't matter who organized it---a system where everyone depends on someone else's children to support them in their old age isn't sustainable. Eventually the children figure out they have better uses for their money than paying taxes and usury so a pack of old parasites can take their sweet time dying---like feeding their own children.
well, with inflation at only 0.000065%-no SS COLA raise this year!
Im fairly new to ZH, and the first thing Ive learned is that my previously acquired cynicism and pessimism about the state of our country pales in comparison to the folks here. How do you all find the motivation to get out of bed in the morning. This shit is a punch in the damned gut every single day without a break. Constantly reading about how Im being rammed in the ass by Zionists without my consent is emotionally crippling. A week on this site is enought to induce a murderous anti-government rampage. I say this without sarcasm or irony. How long does this garbage continue? If trump were president would he really do the shit he claims he wants to do?
Knowledge gets the mind prepared.
Adolf Shekel Grubber .... an unfortuneate name .... for the architect of the Holocaust ?
the headline is far more exaggerated than the real situation. If you crunch through the numbers ... suppose there are 50 million Americans collecting Soc Sec. and each person gets $1666/month. That adds up to about $1 trillion per year. The country is already sinking with new debt at about this rate anyway. So really what difference does it make? We can afford to pay our Soc Sec recipients. It is complete BS from Congress that these payments cannot be made.
The numbers I just gave are very high. I doubt that 50,000,000 Americans will be collecting. And the system is already functional ... payments are being made. So the real debt incurred is probably more like 200-300 billion. Life is not falling apart.
We definitely have to find a way to put a cap on Medicare. That is true. But basic Social Security - it is possible for this country. It is BS to say that we have to kick little old grannies and Vets in wheelchairs out of the system.
You don't know what "income" is. You need to SAVE! Your COMPENSATION! Not f'n INCOME!
Before SS, there was, and still is, TIAA-CREF. It's what the Chilean system is based on. It's "privatized", but administered be a not-for-profit.
Passed House amended (03/04/2014) H.Res. 488
Supports the people of Venezuela in their pursuit of freedom of expression and assembly to promote democratic principles in Venezuela.
Deplores the violence and political intimidation perpetrated against opposition leaders and protesters in Venezuela and the growing use of politically motivated criminal charges to intimidate the political opposition.
Urges the international community to stand in solidarity with the people of Venezuela and to encourage dialogue between the government and the political opposition.
Urges the Department of State to work with other countries in the Americas to ensure that fundamental freedoms in Venezuela are in accordance with the Inter-American Democratic Charter, and to strengthen the ability of the Organization of American States (OAS) to respond to the erosion of democratic norms and institutions in Venezuela.
Urges the OAS and its Inter-American Commission on Human Rights to seek the most effective way to end the violence in Venezuela in accordance with the Inter-American Democratic Charter.
Supports international efforts to urge the Venezuelan government to guarantee the rights to life, humane treatment, and security, and the political freedoms of assembly, association, and expression. What does this have to so with S.S. or is it a typo by the author of the article? Am I missing something?
Don't know why they have the same number
There's plenty of fiat .... for 94 million imbedded unemployed .... Muslim invaders, welfare rats, illegals, generous pay for burocrats, foreign aid for all .... plenty for the nigs who have been on Social Suck all their lives .... BUT, the white workers .... who were obligated to contribute .... are at risk .... no Obama smart fone for you ?
If you're a DONKEY and you know it, stomp your hoof.
As to the subject of the Ponzi Scheme I often forget that what may seem familiar to me and many Americans is not always common knowledge, the story behind the term is very interesting. To those who are unfamiliar with the term Ponzi Scheme or just would like to know more on where it originated and such see the article below that is titled Ponzi Scheme 101.
http://brucewilds.blogspot.com/2013/04/ponzi-scheme-101.html
All this as the politicians and government unions stuff their pensions and paychecks with increase from your paycheck.
quite a scheme. one that many of use put quite a huge chunk of our life wages into. if it's a ponzi scheme then so is the US dollar itself, it won't be worth shit, with or without it's super duper powers.
But you keep giving your kids SS cards. Why?
Is there anybody that doesn't know the US eCONomy is the Worlds biggest Ponzi Scheme. Treasury Bonds, Welfare, Food Stamps, Pension, these all require one thing to keep it going...Increasing the Population. Hello Mexicans.....And the great thing about these Ponzi Schemes, they don't require skilled, smart, hard working labour, you can just take anybody just to keep moving the money around.
Not a problem! Those lucky duckies who accidentally have saved via IRAs and 401Ks can be converted into SSA assets to help pay for everyone else who weren't so lucky to accidentally have fully owned retirement assets.
Everything government "produces" is defective...
http://incapp.org/blog/?p=2683
What would Vlad do?
A barechested Vladimir Putin would ride in to DC bareback on a hammerhead shark and kick their sorry asses.