The Social Security Ponzi Scheme/Scam
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- shanklinmike
- added this
http://www.youtube.com/user/shanklinmike
The release of the 2009 Social Security Trustees Reportindicates that the current economic crisis has negatively impacted the Social Security budget. It’s now projected that by 2016 Social Security spending will exceed revenues. According to the report, the financial condition of the Social Security program “remains challenging” and “need(s) to be addressed soon.” A look at the numbers shows us the severity of the Social Security budget problem.
Social Security is a “pay-as-you-go” system. This means that when you work, the government takes your money and gives it to Social Security recipients. In order to get workers to accept this system, the government promises to take other people’s money and give it to you when you retire. Think of it as an exponentially larger version of Bernie Madoff’s Ponzi scheme.
As long as a lot of people die before collecting any benefits, or die without collecting many benefits, the system is financially sound. In 1950, the worker-to-beneficiary ratio was 16.5-to-1. With people living longer, the worker to beneficiary ratio has fallen to 3.1-to-1 and within 20 years it’s expected to drop to 2.1-to-1. Due to this falling ratio,....
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librelover
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Social security is a perfect example of why government programs are not as socially beneficial as private programs. If less money was required to be taxed into federal programs and then disbursed as the federal government sees fit, people would be able to invest in private programs that they find most beneficial to society.
The misinformed think that libertarianism would simply promote people to horde their money and do nothing, while the society around them collapsed. Do you think people would really just watch society collapse into chaos or do you think they would invest in making it a better place? Given the ability to choose for themselves, there would be far less need for legislation to enforce their concept of social welfare which would actually reduce costs to the people. This doesn't even take into account the funding of wars that a large majority of this country does not support. What about using trade and diplomacy rather than troops and destroyers?
What if government was there simply to govern rather than rule? Inform the people of the country of the social needs and let the people do what is required rather than simply forcing them to do the bidding of the Washington elite. There would likely be far fewer people in prison with far less enforcement of superfluous, misguided, and prohibitionist laws, which would also further reduce costs to the people.
Of course, this is all hypothetical. Any concept of Libertarianism is hypothetical. Libertarianism, just like most other social theories, will likely never be absolutely exercised. We simply find balances between them. My point is that the demonization of Libertarianism is seriously misguided.
- 2 years ago
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librelover
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Gravity_Man
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Starvation IS happening in America but it's mass malnutrition with a resulting slow burn degradation of their mind & body on the cellular level. Slow Burn as in what the Bible said was coming "all the elements being intensely hot will melt".
Humans made of elements are melting. Pensions and retirements and 401k values and home values, all melting down into cheap slag. Children wearing glasses and visiting pill pushing "child psychologists" is another meltdown, a melting down of new humans.
2 Peter 3:7 is right on target.
- 2 years ago
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Gravity_Man
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nikelibertate
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Why is it more people die of deprivation and starvation in socialist countries and communist countries and yet capitalism is supposedly "sociopathic"?
Sorry, you are misinformed. If libertarianism is sociopathic then socialism is nihilistic co-dependent malignant narcissism.
- 2 years ago
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nikelibertate
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librelover
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nikelibertate:
lol. bravo.
- 2 years ago
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librelover
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Paratus
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What I don't get is why was Bernie Madoff charged with this. The government has been running a Ponzi scheme for years without consequences. Of course, the government also practices legal theft (property tax, income tax etc.) and no one complains. Confirms what I have known for years. If you have the power you can get away with anything.
Welcome to the tyranny. - 2 years ago
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Paratus
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shanklinmike
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It's not a battle between selfishness and altruism....it's a battle between slavery and freedom...the problem is the enslavers view it as the first and not what it truly is....the latter...
Until they realize the monopolization done in by protectionism it will continue, until they see the debt slavery they have brought upon their kids it will continue blindly, until they see the interventionist wars that breed off of domestic interventionism......the world will continue it's decline outside technological advances all due to oligopolization and the loss of liberties by big government and big business (economic fascism). If anything, people in liberty and freedom are MUCH MORE altruistic than countries that are starving to death due to central economic planning.
- 2 years ago
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shanklinmike
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uppityprogressive
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Marxism of the Right. If Marxism is the delusion that one can run society purely on altruism and collectivism, then libertarianism is the mirror-image delusion that one can run it purely on selfishness and individualism. Society in fact requires both individualism and collectivism, both selfishness and altruism, to function. Like Marxism, libertarianism offers the fraudulent intellectual security of a complete a priori account of the political good without the effort of empirical investigation. Like Marxism, it aspires, overtly or covertly, to reduce social life to economics. And like Marxism, it has its historical myths and a genius for making its followers feel like an elect unbound by the moral rules of their society
- 2 years ago
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uppityprogressive
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librelover
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uppityprogressive:
Yea, I'd like to see a citation of the sources the author used.
People keep thinking of libertarianism as an ultimate individualism. A system where it is everyone for themselves. In truth, it does not necessitate everyone for themselves. It allows for the individuals to invest their capital as they see fit. That includes social welfare programs that individuals find beneficial to the society as a whole without it having to go to other programs the individuals do not support.
Think about it. Allow individuals to invest their wealth in programs they support and you remove the alienation of the taxpayers and voters of the country as they watch their money, their interests, get hijacked for someone else's concept of what the greatest good is.
If we didn't have to pay taxes for government spending that we have no control over, we would have the capital to invest in programs we the people find beneficial. Do you think we would have the domestic issues we do now? Do you think the federal government would be empowered enough to fight wars the people don't support?
Your logic is flawed.
- 2 years ago
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librelover
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slvrGelatin
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Society would have to be cleansed for the elite. The rope is getting tighter and tighter.
- 2 years ago
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slvrGelatin
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shanklinmike
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slvrGelatin:
In corporatism (fascism), the elites are both a mixture of big business and government bureaucrats.....and both sides blame one another without looking at the big picture.
- 2 years ago
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shanklinmike
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slvrGelatin
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Society would have to be cleansed for the elite. The rope is getting tighter and tighter.
- 2 years ago
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slvrGelatin
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slvrGelatin
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Society would have to be cleansed for the elite. The rope is getting tighter and tighter.
- 2 years ago
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slvrGelatin
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Gravity_Man
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Wait a minute, 59? I'm about triple that. I'm not getting what I'm supposed to be getting. Waiter!
- 2 years ago
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Gravity_Man
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MoonLoon
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Gravity_Man:
G. Man,
Goggle the various S.S. sites. You will be stunned at the obvious loopholes written to serve "special purposes", not related to retirement of the payees. - 2 years ago
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MoonLoon
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Gravity_Man
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Gravity_Man:
Yeah I know enough about it just from listening to others moaning in agony. I'm not a real fast reader so I trust you. I'm more into inventing new energy sources. I fixed a car engine in 2003 that had already run as a prototype but the inventor was very old, but a brilliant man who made some mistakes.
It took me a few days as I was very ill with Gout at that time but 3 days after finding his 1997 prototype I understood what he did wrong. So I know how to make an air+steam engine, no combustion but plenty of explosion, and no pollutants. Last year it occurred to me how to make the engine designed like a mechanical heart so I'm working up the designs to publish this week.
The supercold liquid air is minus 320 & the steam can be plus 320 give or take (desert or snow as required), and I figured out several ways to make it producing 11 times a combustion engine (1100%).
If people had my engine, SS wouldn't be such an astromically large beat to pay, albeit it needs to die. But this past February I got sidetracked to working on a Gravity Wheel that can power up each person's home => http://tinyurl.com/GravityWheelOne so right now I have about 6 or 7 other designs for those.
I am on disability and every day is an adventure healthwise but I don't have much left from my disability check to do anything with, so I just do what I can while the country puts its hopes in a bunch of stupid windmills...
However, I think President Obama knows of many engines and health advances and is planning some kind of big release in a few months. He's giving the talking heads plenty of time to talk their way deep into the ground damning him and then he's going to break loose (I think). For instance, I've heard some scientists decided to go backpacking into the rain forest and powwow with some shaman healers, and word is one of them showed them some soil that is so incredibly fertile when added to worn out soil it fertilizes back to where it should be.
They call it self-fertilizing soil. And there's a new type of printer that prints metal dots real tiny, so it can print a crystal-like web so strong it makes a fabric many times stronger than steel... so they're going to enrobe bridges and sagging buildings with it giving them a new lease on life in excess of what they ever had.
All these other arguments about SS and men getting married is almost as if they're using them to keep people distracted by making them worse. Apparently a Renaissance is about to be sprung but the question is will it be for everyone or will it be for a few after the dust settles?
I personally think this is a time for prayer. Not many people ever get keys to the executive wash room.
- 2 years ago
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Gravity_Man
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MoonLoon
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Reduce benefits to people that have never paid into the system. Remove the criteria of a below 59 I.Q. allowing for benefits. There are too many people that meet this standard, yet can still sell drugs, hijack cars, and rob businesses. These activities do not require high intelligence. Next tax all illegal drug proceeds. If a dealer attempts to make a large cash purchase of a house , car or boat, they should be required to show prove of income and S.S. taxes paid and source of income.
- 2 years ago
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MoonLoon
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Gravity_Man
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I have two points to make:
#1 What does politician's healthcare have in to do with citizen health care?
#2 Why not just give everybody what I get in my monthly disability check? I do alright + have enough to buy some great nutrition products. I haven't needed a doctor in 3 1/2 YEARS. My Blood Pressure is coming down naturally I'm losing weight by adding muscle that BURNS MORE FAT.
An aspirin a day keeps the doctor away, but did you know that when aspirin get a little age on them they turn to Vinegar? Do you have any idea at all how good vinegar dissolves cholesterol plaques from the inside of blood vessels?
Vinegar raises alkalinity and an alkaline-leaning body has more oxygen = less cancer. Who needs healthcare when your body has what it needs for health you got everything. Just not a Senator's Salary is all... but so what? Many of the politicians just burns a hole in their wallet visiting prostitutes anyway so they end up Poor and Destitute eventually just like everybody else drawing my disability check.
Get everybody a monthly voucher check that covers a can of Oxy-Nectar, a couple cans of Dr. Newton's Gold Standard Protein mix and a couple packs of STEMULITE and some aspirin NO ONE WILL NEED MEDICARE. Get yer health back and make the doctors start negotiating for your business.
Lose weight on your own without doctors, stop all the obesity' cascading disease syndromes, and ride the white horse. Charge up the hill and make doctors start COMPETING FOR YOUR DOLLARS.
- 2 years ago
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Gravity_Man
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artemis6
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Lift the cap .
- 2 years ago
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artemis6
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critic
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By law, the government collects Social Security taxes, 12.4% from every employee and employer combined and pours it into a system that is headed for economic collapse. Even the Social Security Board of Trustees admits this. According to the board, the Social Security system will start running a deficit by 2016. By 2032, the so-called Social Security Trust Fund will be depleted, and the system will be insolvent.
Fortunately, there’s a better way. Instead of relying on a bankrupt government system, we could allow individual Americans to control their own retirement accounts. Under such a system, average wage-earners could retire in comfort and security, with more than $1 million in the bank.
Sound too good to be true? The Cato Institute crunched the numbers. Over the past 70 years, Wall Street investments have returned an average of 7% a year (after inflation). By contrast, Social Security pays an average family a paltry 1.2% annual return. Over the years, thanks to compound interest, the difference between those two numbers adds up to staggering amounts of money.
For example, a typical single wage-earner with an income of $36,000 could accumulate $1.2 million in a stock-invested pension fund by retirement, according to the Cato Institute. That would pay an annual retirement income of $124,000. Under Social Security, such a wage-earner would get one-fifth as much: $24,000 per year. Other countries like Chile, Mexico, Britain, and Australia have already made the transition from failing social security systems to secure individual retirement accounts. It’s time to follow their lead. - 2 years ago
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critic
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MoonLoon
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critic:
You are correct, Critic. 40 years ago the S.S. sytem was being critizised by actuarial specialists. Yet the politicians chose to ignore the predictions and approve even more mandated expenditures. It has been a honey pot used to support general gov't. expenditures and welfare programs. I predict a cut in benefits to the retired and no cuts to the mass of unemployable baby producing misfits in this society.
- 2 years ago
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MoonLoon
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librelover
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critic:
Good one critic
- 2 years ago
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librelover
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critic
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As recently as the 1960s, low-cost health insur-ance was available to virtually everyone in America —
including people with existing medical problems. Doctors made house calls. A hospital stay cost
only a few days’ pay. And charity hospitals were available to take care of families who couldn’t
afford to pay for health care.Then the federal government moved in — with Medicare, Medicaid, the HMO Act, and tens of thousands of regulations on doctors, hospitals, and health-insurance companies. Medicare regulations alone run more than 100,000 pages. Today, more than 50% of all healthcare dollars are spent by the government. Health insurance costs are skyrocketing. And government health programs are
heading for bankruptcy. Rather than roll back the government obstacles to afford-able health care, politicians continue to pile on more regulations.The Libertarian Party knows the only health care reforms that will make a real difference are those that draw on the strength of the free market.
Its time to:
Establish Medical Savings Accounts.
Remove barriers to safe, affordable medicines.In June 2000, World Wrestling Entertainment star Val Venis traveled to the United States to get hip surgery. A Canadian citizen by birth, the buff, 250-pound WWF wrestler was entitled to “free” health
care in his home country. But like thousands of other Canadians every year — some estimate tens of
thousands — Venis crossed the border to get the prompt, high-quality health care he could only find in
the United States.
In Canada, he explained, he would have to wait months (or even years) for the “non-critical”
surgery that would allow him to walk again without pain. And many Canadian hospitals don’t
have the state-of-the-art equipment their U.S. counterparts do. So Venis chose to pay for his
surgery, rather than settle for slow, questionable care in Canada. Unfortunately, Republican and
Democratic politicians don’t seem to have the same grasp of medicine and economics that professional wrestler Val Venis does. Through regulations and mandates, they are trying to mimic Canada’s failed system. In doing so, they are damaging what was once the best health care system in the world.I suggest that you check your premise and do research before you make ignorant statements!
- 2 years ago
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critic
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MoonLoon
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Go onto the S.S. web site to discover the real reason for underfunding of this system. This an outright social welfare system designed to meet the needs of inner city unmarried mothers and their socially disfunctional off spring. It is a disgusting and illegal tax imposed on American workers. These payments along with the cost of crime and incarceration of criminals supported by the s.s. system is crippling our society.
- 2 years ago
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MoonLoon
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Gravity_Man
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Dissing dying in the streets? Beats heck out of a hospital ward.
Fresh air, Times Square. Snow falling, the air is even fresher. Snowflakes landing on your cheeks reminding you of when you were a little boy or girl and your parents were making snowcream back before it got filled with radioactive soot? Dying in the streets has a lot to recommend it.
I've been to NY and seen people sleeping midday on the narrow concrete dividers. They looked rather content watching EVERYBODY ELSE DRIVING TO WORK.
- 2 years ago
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Gravity_Man
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MoonLoon
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The real problem has been the hi-jacking of the S.S. system by politicians. It was originally designed and sold to the public as a retirement benefit to the elderly. However, now much of the money has been diverted into welfare programs, in a desperate attempt to buy votes. How many current members know what "crazy money" is? Look it up. It is S.S. money disbursed to drug addicts and certified alcoholics. Not to mention food stamps, housing assistance, and aid to dependent children. Is it any wonder that the system is failing. By the way, stop the ill considered comments about people dying in the streets. If they would get off drugs and alcohol, or seek taxpayer paid mental assistance they could live. But as usual, they continue to make the wrong decisions.
- 2 years ago
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MoonLoon
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titvol
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MoonLoon:
I have a drunk cousin who gets over $300 a month in food stamps. That buys him steaks to trade to his neighbor for beer and peaches and sugar to make some home wine. The mindless bureaucrat who approves people like him would think twice if it was their money they were handing out.
- 2 years ago
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titvol
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RFIDemocracy
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MoonLoon:
Easy for you to say.
If you were on the streets and mentally ill AND addicted, would you have the presence of mind to seek help? You cannot fairly judge that which you do not comprehend from experience.Your comment reflects typical right-wing attitudes. First, more for me, and if you are sick or feeble of mind, tough shit. You are on your own.
- 2 years ago
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RFIDemocracy
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MoonLoon
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MoonLoon:
The actual "crazies" are in very small minority, who do need assistance. It is the con men/women sucking the life out of a system meant to serve the truly needy. They are the one's that should be cut off from the system. Why should workers support a population of moron's that have proven themselves capable of nothing beyond producing generation after generation of wards of the state.
- 2 years ago
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MoonLoon
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titvol
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MoonLoon:
>>typical right-wing attitudes. First, more for me,
- 2 years ago
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titvol
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cybexg
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MoonLoon:
NOT welfare programs. The largest portion of money was diverted to help finance the buildup of the armed forces. I believe it was the Regan administration that permitted this.
- 2 years ago
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cybexg
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RFIDemocracy
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Yep, it's a Ponzi sceme alrighty.
In fact, isn't the entire US economy a giant Ponzi scheme?
The Federal Reserve: Made-Off Securties head office - 2 years ago
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RFIDemocracy
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kennymotown
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Raising the cap is truly the answer, I am not real sure how the rich can live with thereself's if the social security system fails. We all know where the money is and after all gated communities are not that hard to storm, it's just a gate.
- 2 years ago
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kennymotown
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uppityprogressive
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Or, the wealthy pay their fair share of all taxes including Social Security Tax and the system works fine. Libertarianism is sociopathic. No taxes, no public holdings or services. The poor die in the street and the greedy survive. Great society...not.
Social Security taxes are capped at about $90,000 of income per year. So the millionare pays the same as the working stiff. Take the cap off, it works fine. It has been the most successful social program ever. Before that, we were collecting bodies of the poor off the streets.
Sociopathic Libertarians.
- 2 years ago
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uppityprogressive
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titvol
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uppityprogressive:
I've worked my ass off for what I have and I fucking resent assholes like you claiming whatever portion you feel is "fair" in order for you to feel good about your ideals. I've planned for and took responsibility for my retirement. Try teaching that simple idea to kids in school instead of your fucking Marxist redistribution schemes and maybe we wouldn't have so many people depending on SS.
- 2 years ago
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titvol
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critic
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uppityprogressive:
@uppityprgressive - I suppose that you are entitled right? - Go and check your premise about Libertarians being "sociopathic. No taxes, no public holdings or services. The poor die in the street and the greedy survive. Great society...not."
As recently as the 1960s, low-cost health insur-ance was available to virtually everyone in America —
including people with existing medical problems. Doctors made house calls. A hospital stay cost
only a few days’ pay. And charity hospitals were available to take care of families who couldn’t
afford to pay for health care.Then the federal government moved in — with Medicare, Medicaid, the HMO Act, and tens of thousands of regulations on doctors, hospitals, and health-insurance companies. Medicare regulations alone run more than 100,000 pages. Today, more than 50% of all healthcare dollars are spent by the government. Health insurance costs are skyrocketing. And government health programs are
heading for bankruptcy. Rather than roll back the government obstacles to afford-able health care, politicians continue to pile on more regulations.The Libertarian Party knows the only health care reforms that will make a real difference are those that draw on the strength of the free market.
Its time to:
Establish Medical Savings Accounts.
Remove barriers to safe, affordable medicines.In June 2000, World Wrestling Entertainment star Val Venis traveled to the United States to get hip surgery. A Canadian citizen by birth, the buff, 250-pound WWF wrestler was entitled to “free” health
care in his home country. But like thousands of other Canadians every year — some estimate tens of
thousands — Venis crossed the border to get the prompt, high-quality health care he could only find in
the United States.
In Canada, he explained, he would have to wait months (or even years) for the “non-critical”
surgery that would allow him to walk again without pain. And many Canadian hospitals don’t
have the state-of-the-art equipment their U.S. counterparts do. So Venis chose to pay for his
surgery, rather than settle for slow, questionable care in Canada. Unfortunately, Republican and
Democratic politicians don’t seem to have the same grasp of medicine and economics that professional wrestler Val Venis does. Through regulations and mandates, they are trying to mimic Canada’s failed system. In doing so, they are damaging what was once the best health care system in the world.I suggest that you check your premise and do research before you make ignorant statements!
- 2 years ago
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critic
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RFIDemocracy
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uppityprogressive:
@ critic
That's funny.
Critic is trying to school uppityprogressive on Canada's healthcare system.Tell you a secret, pal. I know the person in question very well and I can tell you that same was raised in Canada and is a Canadian citizen who resides in the US. So, your one-off anecdote isn't schooling anyone.
Also, I have lived in Canada all my life and I can tell you that elective surgery can make for long wait times but let me tell you that Canada's gov't.-run system kicks the shit out of America's exceptionally poor health care system, ranked one of the worst in the first world. Those with the coin to pay for expensive treatments and queue-jump can opt for going outside the country. Most Canadians will tell you that they pay between 60.00 and 75.00/ month for full coverage and the insurance company (the gov't.), you ready? ******CANNOT DENY YOUR CLAIM**
World Health Organization Report: The U.S. health system spends a higher portion of its gross domestic product than any other country but ranks 37 out of 191 countries according to its performance, the report finds. The United Kingdom, which spends just six percent of GDP on health services, ranks 18 th . Several small countries – San Marino, Andorra, Malta and Singapore are rated close behind second- placed Italy.
That is #37 out of 191 countries.
Now, lets look at the cost:
In 2006, per-capita spending for health care in the U.S. was US$6,714; in Canada, US$3,678.No system is perfect but, for my money, I'd go with the single payer solution and if you don't agree, well you are welcome to go through life voting against your own best interests.
One more thing, the propaganda talking-points often claim you cannot choose your own doctor.
Totally false and made up out of whole cloth. Same with all the other memes. I moved to the west coast 11 years ago and by new business partner recommended a physician to me because I needed a new one that was close to the office. One phone call, I had an appointment the next day.Remember: Virtually all of Congress is on the take from industry lobbyists and the system is unfotunately one of legal bribery and disinformation. They will tell you any lie to make you believe anything other than the American way is evil and wrong and impractical. It is a huge lie.
I laugh when I hear republicans and Blue-dog Democrats repeating the mantra 'I don't want the government coming between me and my doctor'.
Bullshit. The government is virtually invisible in such a system and doctors don't have to go begging to validate treatments. They simply perform them and the government opays the bill. And guess what? it's a smaller bill. (see figueres noted above) - 2 years ago
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RFIDemocracy
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RFIDemocracy
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uppityprogressive:
titvol
"I've worked my ass off for what I have and I fucking resent assholes like you claiming whatever portion you feel is "fair" in order for you to feel good about your ideals. I've planned for and took responsibility for my retirement. Try teaching that simple idea to kids in school instead of your fucking Marxist redistribution schemes and maybe we wouldn't have so many people depending on SS."That's a happy story. And if you get an unexpected medical condition it's wiped out and then your plan is up in smoke.
But for the grace of God, there goes you.
Only billionaire's needn't worry. A retirement nestegg can be vaporware overnight. Are you sure it's not invested with Madoff Securities? - 2 years ago
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RFIDemocracy
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librelover
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uppityprogressive:
First, I'd like to know where you learned your history. Second, just because a libertarian doesn't want their money going to government programs they don't have a say in does not mean they wouldn't give their money to privately run social programs they do support. Your logic is limited and ignorant.
Second, the talk about GDP spending in the United States versus actual care is very skewed. It does not distinguish between medical spending on research and insurance claims versus actual care. Insurance, due greatly to government regulation, has become a racket. Due to runaway costs for litigation on claims, abusive profiteering by executives, and even doctors charging excessive amounts because of access to the massive amounts of money funnelled into the insurance industry (to pay for their own runaway E&O policies).
Further, the United States does have some of the world's best medical services, but the access and costs are very limiting. Massive amounts of money goes into research and development in the United States. Look at how much money is going into the research for limb regeneration from the Pentagon.
- 2 years ago
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librelover
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MotherForTruth
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Great post and videos. Thanks.
- 2 years ago
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MotherForTruth
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titvol
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No biggie. We'll just borrow another few gazillion dollars from the Chinese.
- 2 years ago
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titvol
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regjoeschmo
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titvol:
China has refused to lend us any more money......
- 2 years ago
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regjoeschmo
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titvol
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titvol:
Aw shit. What now? We might have to, *gasp*, live within our means.
- 2 years ago
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titvol
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mikeshanklin [removed]
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It is a sad world where people are so blinded by Obama they won't even stop to smell the economic education!
- 2 years ago
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mikeshanklin [removed]
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mikeshanklin [removed]
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How can people believe these fraudulent politicians that lie?!?
- 2 years ago
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mikeshanklin [removed]
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mikeshanklin [removed]
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Social Security is a scam!
- 2 years ago
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mikeshanklin [removed]
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mikeshanklin [removed]
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What a scam! Congress even promised that Social Security would never become a form of identification, too bad they lied to We The People once again....
- 2 years ago
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mikeshanklin [removed]
