Obama has done more to destory Social Security than any other president in history

Discussion in 'Economics' started by bond_trad3r, Sep 8, 2011.

  1. Good job!

    The Sooner that Ponzi Scheme ends up like the U.S. Postal Service, the better.

    Halving the SS contributions for individuals and businesses. :D
  2. I agree, Social Security is a Ponzi scheme. Here's an excerpt from my blog tonight on Forbes.

    Scrap Payroll Taxes Entirely To Increase U.S. Jobs

    If Social Security is a Ponzi scheme, shouldn’t payroll taxes be scrapped on those grounds too? How can the government continue to collect social security taxes from U.S. workers and employers and then commingle those revenues with general tax revenues and general spending?

    Texas Gov. Rick Perry, a leading Republican candidate for President in 2012, caused a great stir by calling the current state and workings of the U.S. social security system a Ponzi scheme. Gov. Perry correctly points out that there are no longer social security trust fund contributions set aside in a lock box, growing with income to pay SSA benefits to retirees and those on disability. That’s the reason politicians rule out converting to a private social security system, as there are no funds on hand to convert. I would rather have my social security contributions deposited into my own retirement savings account. If I don’t want stock market risk, I’ll buy CDs or Treasuries.

    It’s clear that SSA benefits are paid from new workers’ contributions, not funds on hand and that is the essence of a Ponzi scheme.

    Here’s my main point. If social security is an inappropriate Ponzi scheme, then scrap the payroll tax entirely and stop collecting it from workers and employers. If you want to charge them a higher income tax, then dare to do so in a more honest and straight-forward manner.
  3. Go Go President Obama. This guy is great. 4 more years!! :D
  4. LOL. Good one!
  5. Lucrum


    It'll be better for ET too since you'll be gone.

  6. Ticking time bomb is what it is... The Dollar, SS, Medicare, pensions, insurance, Everything.
  7. That's why Congress needed to authorize Odumbo to run us another $2.4 Trillion into debt (on social spending and payments to his union constituents) before the end of his term. See?
  8. Yo Lucrum, bookmark those posts and if event A or event B happens, I'll be gone from this circle jerk for good.
  9. Lucrum


    You think anyone will notice?
  10. Do you think I would care?
    #10     Sep 9, 2011