Monday, September 12, 2011

I hate to say it but Rick Perry is correct, SS is a ponzi scheme

Financial Sense.com:

The fakes that present themselves as journalists in the MSM have been foaming at the mouth over the description of Social Security as a ponzi scheme by Rick Perry. How could this man tell the truth about FDR’s beloved legacy? After trying to poke holes in Perry’s truthful assessment of this bankrupt program, the pundits declare it isn’t a ponzi scheme because Social Security isn’t voluntary, and a ponzi scheme is. These morons are right. Social Security is a ponzi scheme with a gun pointed at your head by Federal Government thugs. That is a much more accurate description.

The party that presents Social Security as a well run outstanding example of government at its finest has decided the best way to create jobs is to double down on you paying even less in payroll taxes than you did this year. We know for a fact the average person will get between 25% and 125% more than they paid into Social Security. The Obama plan last year and again this year is to drastically reduce the amount paid into the Trust fund, so you can have the privilege of consuming the same amount of food and energy at a much higher price. Brilliant plan! It is amazing how liberals and Keynesians can have such disregard and scorn for future generations who will be handed this bill with no means to pay.

The Republicans went along with the 2011 payroll tax cut of 2%. They will go along with the 3.1% payroll tax cut. You see, this is how politics works. Since the payroll tax was “temporarily” cut, whoever lets the payroll tax cut expire will be declared a tax hiker. Therefore, the “temporary” payroll tax cut will be extended indefinitely, further impoverishing future generations. Meanwhile, how many jobs did the first payroll tax cut create? How many will the extended and increased payroll tax cut create? None! Obama is using the George Bush tax rebate check method of destroying the country. Both decided to address a government spending problem by reducing revenues. This is par for the course and explains why the economy is teetering on the verge of collapse.

As usual both parties are at fault. We need to scrap this program along with the other programs and wealth transfer schemes before they bankrupt the whole country. Chances of that happening are zero. In the end you will be responsible for yourself and your own. This is how it has always been and this is how it should be. Its too bad we will have to find this out the hard way.

1 comment:

Craig Cavanaugh said...

Now if he would only admit that our entire economy is a Ponzi scheme, completely dependent on continual growth which is impossible in a finite world. 3% on top of last year's 3% on top of 3% from the year before that, on and on ad nauseum. Starts to look like Al Gore's "hockey stick" chart after a while...

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