Social Security

Letter writer Stewart B. Epstein argues that supporting programs like Social Security and Medicare don't make a person a socialist.

According to President Trump and the national conservative news media, someone who simply supports a federal government social program that helps people such as Social Security and Medicare is a "crazy socialist."
 
If we go by that definition, then that would make Dwight Eisenhower and Richard Nixon "crazy socialists" because they both signed new federal government social programs that help people into law/existence, and they both supported Social Security.
 
In fact, Ike wrote a letter to his brother in which he stated that any Republican who wants to abolish Social Security is "stupid." It appears that conservative-Republicans have become a lot more conservative and "stupid" since around 1980 because we sure do have a lot of them nowadays who want to abolish Social Security and move our country toward "Survival-of-the-Fittest" Social Darwinism.
 
I recently saw President Trump's "Acting Chief of Staff" and "Budget Director" Mick Mulvaney on television. When he was a Congressman, he was a favorite of "The Tea Party" and was well-known for stating that Social Security is a "Ponzi scheme," that it is "unconstitutional" and that it should be abolished.
 
More and more, today's national Republican Party stealthily advocates for a crazy, cold-hearted and creeping "Survival-of-the-Fittest" Social Darwinism.

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Letter to the Editor Submission Link

(3) comments

Steve Gregg

I agree completely that helping people is not socialist. Socialism helps nobody but socialist dictators. Socialism in practice steals the wealth and liberty of its subjects. It impoverishes every nation which adopts it.

Social security was not set up to be economically sound. Your money does not go in a lockbox nor is it invested. It's simply transferred from the payers to the paid in a pay-as-you-go system. The first wave of people who collected benefits never paid into the system at all. The last wave of people who will pay into the system will not collect benefits. That last wave is you college kids.

After WWII, the US had the only intact industrial base left in the world which provided the foundation for a strong economy. New famiiles flush with cash began a baby boom which added a huge cohort of employess to the work force who paid lots of taxes. The government was rolling in tax money. Social Security was running a surplus. The federal government spent it all buying votes with new benefits and left the Social Security fund with a pack of IOUs which have never been paid. Social Security has been running at a loss ever since, paying out more than it collects. It is slowly going bankrupt.

When Social Security began in 1937, there were 4.5 workers for each retiree. Today, there are 2.1 workers/retiree. When today's college kids retire in 2060, there will be 1.5. The way Social Security works, the benefits decline as its revenue declines. Of course, if there is no money, there will be no benefits. You're looking forward to paying Social Security benefits your forty year working life to get nothing in return, just like gullible dopes who invest in Ponzi schemes.

Social Security's rate of return is only 1%. A couple in 1996 who made $52,000, the average household income in the US, would pay $320,000 total in Social Security taxes and receive benefits worth about $450,000 after retiring at 67. Had they conservatively invested that same amount of money in the free market, reaping a 5% return buying mutual funds focused on T bills and blue chip stocks, they would have collected $975,000. That's more than twice the government return, a half million dollar difference.

For black men, who don't live as long as whites, Social Security is a dead loss. A black guy only gets 88 cents back on every dollar he's taxed by Social Security, for an average loss of $13,000 per black man. It's hardly surprising that Democrats, who created and manned the Ku Klux Klan, have developed a social security system that takes taxes from black men and gives it to white people. It's like the Imperial Wizard is running Social Security.

Social security should have been set up as a personal savings plan where your tax money is placed in an account you control, as some South America countries have done, successfully. When Reagan tried to transition social security to this system, outraged liberals fought it to a standstill because all your money should be theirs. If anything, Democrats, having blown Social Security funds, are determined to find ways to loot workers' IRAs and 401(k)s. When Jessie Jackson ran for president as a Democrat, he had a cockamamie scheme to confiscate everyone's savings and "invest" it urban renewal, ie grab suburban savings and give it to the ghetto. Bill Clinton floated a plan to confiscate everyone's savings and turn them into government bonds. He retracted it the same week after fierce popular resistance.

There are bills floating around the backrooms of Congress to confiscate your savings. They have little chance of passing under Trump, but every once in a great while, Democrats get a chance to pass their loot-the-taxpayer bills, as they did under Obama. Obamacare was hundreds of Democrat wet dream bills rolled into one rotten, stinking mass. Some day during your lifetime, an opportunity will come for the Democrats to pass these bills to loot your savings.

The 2019 annual report of Social Security declares that its funds will be depleted in 2035, sixteen years away. That means the government will need to find new ways to tax you just about the time you have been married a while, bought a house, and started your family. Just about the time you start thinking about saving for your kids' college, Social Security will die. That makes a hard choice for you: Do you use your savings for your kids college or for your retirement? If you choose to fund the kids' college, you also need to decide what brand of dog food you want to eat in retirement when you're living under a bridge.

But wait, it gets worse.

The latest GAO report from April is titled "The Nation's Fiscal Health: Action Is Needed to Address the Federal Government's Fiscal Future." It goes on to declare, "The 2018 Financial Report, the Congressional Budget Office, and GAO all project that federal debt held by the public will continue to grow unsustainably into the future." There is a cute chart that shows that public debt will consume 100% of the gross domestic product sometime between 2030 and 2040 and then increase to as much as 200% in 2048. That means that everything that every American earns everywhere must go to pay for all that useless crap the government bought on credit in the last century. At that point, the government will be desperate for cash and pass all those wet dream bills to confiscate your savings, probably giving you lots of false promises in return. The Democrats will probably pass some bill to grab all the nickels under your sofa cushions, as well.

But it could get even worse than that. No, really, it can.

Senator Elizabeth Warren of the Cherokee tribe is the front runner in the Democratic primary and will probably be the Democratic candidate for president. She is running on a platform of Free Everything! Education will be free along with health care, childcare, housing, and God knows what else. You'll have to pay reparations for all those slaves you owned, plus the Green New Deal. All of this would cost upwards of $93 trillion, or $600,000 per household. To put that in perspective, the federal budget now is about $4 trillion, our GDP about $20 trillion, and world GDP $80 trillion. All those bad things that Social Security would do to you come 2035 would begin happening the day after Warren is elected president. Warren and the certifiably insane Democrats want to tax you literally back into the Stone Age.

Now, you can avoid all that by pushing the government out of your life. Take control of your own retirement savings. Tell the government their free stuff is too expensive. Otherwise, stock up on Alpo and warm clothing and run to the bridge to pick out your spot before the competition gets fierce for shelter.

Andrew Deick

Take out some of the loaded emotional words and publish your own article.

You're making good points.

Steve Gregg

Thank you so very much, Andrew. However, if I published my own article, I'd probably lard it with more emotionally loaded words because I'm just that kind of guy.

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