Friday, September 7, 2012

Social Security in the Voice of the People...

Chicago Tribune, Voice of the People


A writer in the Wednesday 5 September
Voice of the People [True entitlements]
recalls "working for 40-plus years, and every
paycheck I received, there were deductions
for Social Security and Medicare, which I
anticipated would be given back to me upon
my retirement, along with earned interest,
since it was mine to begin with and money I
had earned."

If the writer was a wage earner, somewhere
along the line he also got a note from his
employer effectively saying:  "This is how
much money we must send to the federal
government to employ you.  If we don't send
it  we would go to jail."

When that money gets to Washington, it
goes directly into the general fund (which
pays no interest) also the source of Social
Security checks.  The country gets away
with this scam because it is constantly
growing, and maintains good credit.  But the
resulting debt just passed $16 trillion (thats
$51,000 for each man, woman, and child in
the country.)  Is the writer ready to pay his
share of that debt?

Social Security checks cost $680 billion/year
(not even a healthy stimulus) but there are
only 40,000,000 recipients, and 2 1/2 % of
them die  every year, so in 40 years, the
problem solves itself.  What must be done is
stop adding new recipients!  Tell them to
save their money and get an annuity from a
private sector insurance company.  They're
the people who loan there income to various
projects, and charge for that use.  They make
enough to pay their investors what they
contractualy promised.

Arnold H Nelson  Chicago

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