To The Daily Sun,
Social Security (SS) is INSOLVENT. The Congressional Budget Office just calculated that in LESS the 20 years the benefits for EVERY RECIPIENT will need to be CUT by a STAGGERING 25 percent. When polled, almost NO ONE says they will agree to a benefit cut. There is not even enough money to pay for the coming gap by taxing every dollar earned from one to a billion. That makes things rather interesting, because SOMEONE is going to pay, and pay BIG for the MASSIVE shortfall of money. It is either workers of beneficiaries.
Even worse, a staggering percentage of retired Americans already depend on SS for more than half their income. The amount of the imbalance is breath taking, but in keeping with every hair brained program dreamed up by Democrats. The fact that SS is bankrupt should surprise NO one, given it's origins in the lower bowels of the Democratic Party and we all know what is in a BOWEL.
It is not that confiscating money for a working lifetime from pay checks is a bad idea to assure people save money to retire on. The problem of our never ending SS bankruptcies stem from the absolute, INSANE, STRUCTURAL DESIGN of the SS system to FAVOR GOVERNMENT over the beneficiaries. Any private enterprise running a pension system that even remotely looked like what SS does would be incarcerated with the keys thrown away. Social Securit's design is an absolute slap in the face to every black worker because they have life expectancies far SHORTER than every other race. The shorter you live, the less you collect and the more GOVERNMENT BENEFITS. Why in hell aren't Democrats SCREAMING RACIAL OUTRAGE at those that designed SS demanding the program cease? That means screaming at themselves.
The Australians, the U.K. and the Chilean's all grew a BRAIN concerning their pension program challenges. Are those countries all smarter than U.S.? Chile changed their national pension plan 21 years ago. It covers tens of millions of workers. There was much angst and uncertainty when the new program was first introduced. Pensions became "individualized" from "GOVERNMENTIZED" and options to invest in several stock market indices were offered. The president urged every Chilean to leave the old program, similar to ours, and like ours yielded almost NO RETURN — after accounting for ravages of inflation. Those who wanted to stay in the old program could. Of course the people who made the change from investing in long term, low return, government debt (the same way we do) into the vibrancy of the Chilean BUSINESS ENGINE began receiving pensions TWICE what those who failed to change did. COMMON SENSE hit the masses. Even what we could call here the hardest of the donkey knot heads saw the LIGHT. Today, 93 percent of Chileans are invested in their equity market through their SS pensions. That investment produces average pensions DOUBLE EACH MONTH what ours is for same wages earned during a lifetime. EAT YOUR HEART OUT!
The CRITICAL calculation to produce MUCH HIGHER monthly income isn't just how much you CONTRIBUTE or earn but what the PROJECTED RETURN is over the very long holding period for such assets. Further, the monies contributed and earned are the property of the BENEFICIARY, NOT THE GOVERNMENT! Democrats LOVE our SS because it keeps TENS of MILLIONS more in poverty and government DEPENDENT allowing them to SCREAM INEQUALITY with the need for even MORE GOVERNMENT WELFARE. Which in the end only increases GOVERNMENT POWER and dominance over a greater percentage of the electorate. That is all any Kool-Aid blooded Democrat LIVES for — more government power and HIGHER taxes on EVERYTHING including PAYROLL TAXES. Which of course in the end leads to BANKRUPTCY EVERY PLACE in every government run program over and OVER.
WE have an opportunity and a SCREAMING NEED to CHANGE our SS system to one that does not REQUIRE BENEFIT CUTS to beneficiaries or increases to payroll withholding taxes or increases in the earnings taxed under SS. All we need to do is follow the lead of Chile and Australia. They grew BRAINS and discovered COMMON SENSE!
- Category: Letters
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