Do you like "for profit" govt?

[flacaltenn]

What I want to know is why our leftist buds are constantly indignant about corporations seeking profits at 6 to 8% while they ignore the multi-trillion $$ profit that the Fed govt has pillaged and squandered from collecting excess Social Security/MC payments over 3 decades. You remember the days when SS would run an excess of $100Bil in a year and that would dissappear into the General Fund to be replaced by a worthless "special-issue" IOU dontcha? Despite the fact that a lot of big govt lovers are still lying to you about the solvency of those funds -- those days are gone. The plunder has stopped, because the TRUE surplus is now pretty much gone.

But for 30 years, the Fed govt OVERCHARGED for these Universal programs and stole that money from the paychecks of even the most distressed workers.

It WAS a gigantic skimming of profit.

The Awful Truth About the Social Security Trust Fund is Beginning to Emerge | Dissident Voice

None of the Social Security surplus revenue has ever been saved and invested in Treasury bonds or anything else. All revenue, not needed to pay current benefits has been put into the general fund and used to pay for wars, tax cuts, and other government programs. Every dollar of the $2.5 trillion that is supposed to be in the trust fund has been “borrowed,” “embezzled,” or “stolen” by the government and spent for other purposes. The trust fund does not hold any real marketable government bonds or any other kind of real assets. It holds only IOUs in the form of ”special issues of the Treasury.” These are a gimmick, created by the government, to make the public think the trust fund holds “bonds” when it holds only IOUs. They are not marketable and could not be sold to anyone even for a penny on the dollar. They are nothing more than accounting devices.

So besides the question of why you big govt types are worried about the miniscule effect of corporate profits on you wallets, while you ignore this ginormous skimming of profit by the govt -- I've got a couple more..

1) Why should Americans TRUST the govt to invent yet MORE UNIVERSAL programs while the current ones are going down in flames from mismanagement and thievery?

2) Why do the big govt suck-ups continue to propagate the lie that "interest paid from the fund" is keeping these programs solvent thru 2037 or so?

Pitchforks out? Don't take MY word for it..

Tax the Rich to Repay Looted Social Security Money | Dissident Voice

In 1990, Reid, along with a few other senators, was trying to protect the future of Social Security by telling the truth about it. In a speech on the Senate floor, on October 9, 1990, Senator Reid made the following statement:

The discussion is are we as a country violating a trust by spending Social Security trust fund money’s for some purpose other than for which they were intended. The obvious answer is yes…On that chart in emblazoned red letters is what has been taking place here, embezzlement. During the period of growth we have had during the past 10 years, the growth has been from two sources. One, a large credit card with no limits on it, and, two, we have been stealing money from the Social Security recipients of this country.

Senator Reid was right in denouncing the raiding of the trust fund in 1990, but he didn’t follow through with his battle. Once he got into a leadership position, he abandoned his fight to end the looting and just ignored the illegal practice after that.

 

[editec]

But for 30 years, the Fed govt OVERCHARGED for these Universal programs and stole that money from the paychecks of even the most distressed workers.

It WAS a gigantic skimming of profit.

In THEORY (and interestingly enough, thanks to Ronal Reagan's enormous SS tax increase) the government was putting aside money to prepare for the boomers' retirement.

That's why the SS fund has $ 4 trillion in US bonds.

Now the Republican game is to cut SS benefits such that those who PREPAID their retirement funds won't be getting what they paid for.

They keep telling people like you that SS is broke, when it fact it is not broke unless the USA reneges on its BONDS.

And if the USA reneges on its bonds, it won't just be social security that goes down, every bank, every insurance company, every PRIVATE pension fund in the land will ALSO go down.

 

[Wiseacre]

But for 30 years, the Fed govt OVERCHARGED for these Universal programs and stole that money from the paychecks of even the most distressed workers.

It WAS a gigantic skimming of profit.

In THEORY (and interestingly enough, thanks to Ronal Reagan's enormous SS tax increase) the government was putting aside money to prepare for the boomers' retirement.

That's why the SS fund has $ 4 trillion in US bonds.

Now the Republican game is to cut SS benefits such that those who PREPAID their retirement funds won't be getting what they paid for.

They keep telling people like you that SS is broke, when it fact it is not broke unless the USA reneges on its BONDS.

And if the USA reneges on its bonds, it won't just be social security that goes down, every bank, every insurance company, every PRIVATE pension fund in the land will ALSO go down.

Where'd you get the 4 trillion number? Every thing I've seen says it's actually 2.5 trillion. Your statement that the GOP would cut SS benefits for those who have already paid for their retirement is a LIE, although there might be proposals to means test the benefits to the rich. Which I assume the dems would be positively orgasmic if that happened,.

The truth behind SS is that we have reached the point where we take in less money than we pay out, you can phrase it any way you want to but the US Gov't will have to borrow money in increasing amounts every year to meet the obligation. Somewhere around 2036 that 2.5 trillion in treasuries will be exhausted, but it matters not cuz the gov't has to continue to borrow money anyway unless something is done to address the problem.

 

[flacaltenn]

Editec:

The jig is up.. Folks know that those are "special-issue" bonds. They have no market value and are not transferable. It is AT BEST -- a pile of IOUs. A notice to future Congresses to just shut up and pay the bills. If they can't be sold or traded, then the Treasury has to fork up EVERY dollar of the fake interest that being used to "pad" the Soc Sec trust income..

The Awful Truth About the Social Security Trust Fund is Beginning to Emerge | Dissident Voice

None of the Social Security surplus revenue has ever been saved and invested in Treasury bonds or anything else. All revenue, not needed to pay current benefits has been put into the general fund and used to pay for wars, tax cuts, and other government programs. Every dollar of the $2.5 trillion that is supposed to be in the trust fund has been “borrowed,” “embezzled,” or “stolen” by the government and spent for other purposes. The trust fund does not hold any real marketable government bonds or any other kind of real assets. It holds only IOUs in the form of ”special issues of the Treasury.” These are a gimmick, created by the government, to make the public think the trust fund holds “bonds” when it holds only IOUs. They are not marketable and could not be sold to anyone even for a penny on the dollar. They are nothing more than accounting devices.

The Universal Everything crowd can no longer keep a lid on this "PROFIT SKIMMING" by blowing smoke about the Trust Fund.. Incredible that you don't even know you were robbed. That's why you worry about the slim profit margins that corporations make. Because you're blissfully unaware of the BIGGER fraud..

 

[editec]

Editec:

The jig is up.. Folks know that those are "special-issue" bonds. They have no market value and are not transferable.

NO! And by that I don't mean you are wrong, I mean are you fucking shitting me?!

Let me tell you something, amigo, just one CITIZEN to another...

The FIRST people to get the US governments debt obligations repaid had god damned well better be the social security admin.

If that doesn't happen, then molly bar the door, because a bloody and violent revolution will not be far behind.

 

[flacaltenn]

Well THERE'S some mighty outrage editec.. VERY impressive... Now we're getting somewhere.

Maybe the fact that those PROFITS that were skimmed are a BIGGER problem to you and the pitchfolk waving folks behind than what Home Depot is doing to you.. I NEVER see the left getting indignant about THESE GOVT profits and thievery.

Let's start by DEMANDING that the accounting for SS "receipts" don't show arbitary interest payments that EXCEED the current year liabilities.

Let me be clear about this point because it is a NEW FRAUD that's being perpetrated. They can no longer skim PROFITS from payroll taxes, but they've discovered a new way to hide the massive debts that have been added to the economy. When the SSA and other CLAIM that SocSec is getting "interest" from the non-existent trust that EXCEEDS liabilities thru 2037 they are lying. Why would the treasury kick in MORE money to SS/SSI/MC than what is needed to cover those liabilities and where does it go?

Well my leftist bud, they can NOW CLAIM that parts of the general debt incurred every year were PAID to SocSec and MC.. When IN FACT, it's a spiffy way to HIDE a large chunk of debt that they incurred in other areas. When the outflow from these funds EXCEEDS the inflow from payroll taxes --- It would only be required to BALANCE the diff. But they are HIDING large portions of debt by ASSIGNING them (uneccessarily) to the SSI/SS/MC funds. The massive THIEVERY continues. And the left needs to understand how untrustworthy and devious these creatins really are. Because they put WAAAAY too much faith in the uncorruptable nature of govt and it's MORAL superiority to the free market..

The left BETTER get on board. Because these tactics are gonna KILL any chances of ever conning the American public into future UNIVERSAL anythings.