Guest guest Posted November 20, 2003 Report Share Posted November 20, 2003 > > > SOCIAL SECURITY WORKS > > 11/18/2003 > > Let me tell you a story of progressive progress. > > In 1939, two-thirds of America's senior citizens lived their " golden years " > in cold, hard poverty. Just a decade later, that percentage was down to > half. By 1959, it was only one-third. Today, the number is less than 10 > percent. > > That's progress. What's progressive about it is that this decline in > poverty is the result of the New Deal's passage of our nation's landmark > Social Security program. > > Yes, the very same program now under attack by Wall Street wolves and > congressional opportunists of both parties who insist that Social Security > is doomed to failure and facing an imminent financial crisis. > > Horsedooties. First, this is a program that actually works, providing the > modicum of income so our gray-haired citizens have a basic level of decent > living when their earning years are over. Second, Social Security is a > model of efficiency, requiring only a single percent in administrative > costs. Compare that to the insurance corporations that suck out one-third > of our healthcare dollars to pay for their corporate bureaucracies, > executive salaries, marble palaces, and advertising. > > But, no, cry the Chicken Littlers, Social Security is going broke! Hogwash. > Without changing anything, Social Security is financially sound for the > next 40 years. Name me a corporation that can claim that! > > Yet, the Bushites on behalf of Wall Street finaglers seek to privatize this > public treasure, pushing people to put their Social Security nest egg into > the stock market. Hello these are the same investment geniuses who only > three year's ago would have advised you to invest in Enron a stock that > fell from $97 a share to 57 cents in only one year! > > Wall Street hustlers, members of Congress, and other > " reformers " already have their own golden retirements covered. I say no one > should be allowed to " reform " Social Security unless they actually need it. > > > ---------- > " Connect the Dots " , New York Times, April, 2, 2002. > Professor Mark Stern, School of Social Work, University of Pennsylvania > http://www.jimhightower.com/air/read.asp?id=11233 > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 22, 2003 Report Share Posted November 22, 2003 Social Security would probably be at the level now to be self sustaining if the feds would keep their sticky fingers out of the pot. The problem lies in that the pot is full of I Owe You's from the federal government. Anytime they want a little extra spending money they just take it out of that pot and leave their IOU's. Then the money is not there to pay out. The next thing done is Social Security rates are incased to build up the fund and the cycle is completed again. When you see Congress has to take special budget action to meet the Social Security payments it is not because the fund is broke as such but because the government has raided the funds and now must put something of substance back into the pot before the public finds out the real truth and the scam would be up. The same goes for funds like the highway trust fund and others. Administration costs may be low but the theft remains high. It is time to make the government start putting those funds back. For get about collecting interest on the funds from the government just make them put the money back and leave the rest alone. Jim Payne Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.