As usual, Mikey can’t keep his facts straight. I’ve been paying for my ‘entitlements’ for more than 40 years. A politician (or cartoonist) telling me the government shouldn’t have to keep it’s promises is is demonstrating what a low lying piece of garbage he is.
IMHO, having paid IRS income and SSA taxes since age 16, we paid not for our own benefits, we paid for the benefits that were given to current recipients. (and with the 1973 legalization of abortion, the number of future workers and future payments into the system was lowered by millions of potential taxpayers….)….
Social Security was from Day One a Ponzi scheme.
there never was a “Trust Fund” holding our payments in interest-bearing accounts for us!
the “retirement age” was rigged to be in tune with life expectancy…..and with life expectancy growing longer and longer….the Liberals scream if anyone suggests Soc.Sec. benefits be given at an average age closer to life expectancy numbers.
There is a day coming—it is already here—when SSA income is below payouts…
Virtually nobody ever paid anywhere near the 90% tax rate, because of the enormous number of ‘tax shelters’ that often reduced the effective tax obligation to negative … .
Reagan got rid of many of the most egregious once … .
^^You know you could simply opt out of Social Security if you think its that big a ponzi scheme.
^Actually Jack Kennedy got rid of the tax shelters when he lowered it from 90% to 70%. Then Reagan comes along and lowers them to 35% and thus starting the deficit and debt problems we’ve encountered today.
since both parties are just two sides of the same coin, once a power is usurped by any branch of government, it is not likely or easily given back to “we the people”.
Disgusted, anyone who knows so little about the workings of Social Security should do a little reading before showing what a fool he is.
Do you think the Social Security funds have been sitting in a vault somewhere? The HAVE been invested; they have been loaned to the US Government!!! There has been a big deal made that for the first time in it’s history Social Security will be withdrawing money from it’s trust fund, rather than only depositing money into it.
Only an ignorant fool or a Republican - (same thing) would call it a Ponzi Scheme.
Dtroutma about 13 years ago
Where’s the burger, Wimpy?
PlainBill about 13 years ago
As usual, Mikey can’t keep his facts straight. I’ve been paying for my ‘entitlements’ for more than 40 years. A politician (or cartoonist) telling me the government shouldn’t have to keep it’s promises is is demonstrating what a low lying piece of garbage he is.
disgustedtaxpayer about 13 years ago
IMHO, having paid IRS income and SSA taxes since age 16, we paid not for our own benefits, we paid for the benefits that were given to current recipients. (and with the 1973 legalization of abortion, the number of future workers and future payments into the system was lowered by millions of potential taxpayers….)….
Social Security was from Day One a Ponzi scheme.
there never was a “Trust Fund” holding our payments in interest-bearing accounts for us!
the “retirement age” was rigged to be in tune with life expectancy…..and with life expectancy growing longer and longer….the Liberals scream if anyone suggests Soc.Sec. benefits be given at an average age closer to life expectancy numbers.
There is a day coming—it is already here—when SSA income is below payouts…
petergrt about 13 years ago
Virtually nobody ever paid anywhere near the 90% tax rate, because of the enormous number of ‘tax shelters’ that often reduced the effective tax obligation to negative … .
Reagan got rid of many of the most egregious once … .
WarBush about 13 years ago
^^You know you could simply opt out of Social Security if you think its that big a ponzi scheme.
^Actually Jack Kennedy got rid of the tax shelters when he lowered it from 90% to 70%. Then Reagan comes along and lowers them to 35% and thus starting the deficit and debt problems we’ve encountered today.
Dtroutma about 13 years ago
“Reaganomics” was economic “shock and awe” at home.
dannysixpack about 13 years ago
disgusted, you are incorrect. Bush 1 embezzled the social security trust fund.
http://yubanet.com/opinions/BushBrokeSocialSecurityLockboxPromiseSaysAu16532_printer.php
dannysixpack about 13 years ago
yes, clinton continued the bush policy.
since both parties are just two sides of the same coin, once a power is usurped by any branch of government, it is not likely or easily given back to “we the people”.
petergrt about 13 years ago
http://en.wikipedia.org/wiki/TaxReformActof1986
http://www.ipi.org/IPI%5CIPIPublications.nsf/PublicationLookupFullTextPDF/D363A0E54E2E40AB862567ED00213FCA/%24File/kennedy.pdf
Wraithkin about 13 years ago
@ War: So .. if I opt out of SS, does that mean I can stop paying my “contribution” into it too?
oneoldhat about 13 years ago
^ yes become amish
PlainBill about 13 years ago
Disgusted, anyone who knows so little about the workings of Social Security should do a little reading before showing what a fool he is.
Do you think the Social Security funds have been sitting in a vault somewhere? The HAVE been invested; they have been loaned to the US Government!!! There has been a big deal made that for the first time in it’s history Social Security will be withdrawing money from it’s trust fund, rather than only depositing money into it.
Only an ignorant fool or a Republican - (same thing) would call it a Ponzi Scheme.
4uk4ata about 13 years ago
Oh you will, Mr. Taxpayer. And you will pay for the tax breaks on Friday.