How Republicans, Democrats and the Mega-Wealthy Stole Your Social Security Money

Discussion in 'Politics' started by hvactec, Jul 24, 2011.

  1. hvactec
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    hvactec VIP Member

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    As I’ve been reporting for quite some time now, trillions of our tax dollars have been looted by Wall Street, wars, global corporations and the richest one-tenth of one percent of the population. The economic crisis has made this blatant fact much more evident to the average person. Now that these elaborate schemes are coming undone and major cuts to vital social programs are beginning to be implemented, the American public is
    going to get a harsh wake up call.

    With cuts to Social Security on the way, and Obama’s recent comments saying that he cannot guarantee that Social Security checks will go out if the debt ceiling doesn’t get raised, it’s time to take a closer look at why politicians are pushing to cut this vital program.

    The Social Security Trust Fund should currently have $2.5 trillion in surplus. So how is it that these checks could stop being issued if the debt ceiling isn’t raised? Economics professor Dr. Allen Smith, author of The Looting of Social Security: How The Government is Draining America’s Retirement Account, has been reporting on the theft of Social Security funds for years. As he sums it up:

    “The government’s $2.5 trillion debt to Social Security is the real reason that so many politicians want to cut benefits. They are trying to find a way to avoid having to repay the looted money…. Given the fact that much of the surplus revenue from the 1983 payroll tax hike ended up in the pockets of the super rich in the form of income tax cuts, I propose a special tax on this group of taxpayers to recoup the missing Social Security money. The government used revenue from the Social Security payroll tax hike to fund tax cuts for the rich because that was where the money was. I think the government should recover the ‘embezzled’ money by taxing the rich.”

    Here are reports by Dr. Allen Smith that we have featured over the past two years:

    I: It’s Time to Tap the Empty Social Security Trust Fund
    II: The Social Security Fraud Has Finally Been Exposed
    III: How Ronald Reagan and Alan Greenspan Pulled off one of the Greatest Frauds Ever Perpetrated against the American People
    IV: Obama and the Social Security Time Bomb
    V: Censored Social Security Book Back in Print

    I: It’s Time to Tap the Empty Social Security Trust Fund

    AP writer, Stephen Ohlemacher, sent shock waves throughout the nation this week with his story, “Social Security to start cashing Uncle Sam’s IOUs.” Social Security has been running large surpluses ever since the enactment of the 1983 payroll tax hike, and was projected to continue running surpluses until at least 2016. Instead, Ohlemacher reports that the cost of Social Security benefits will exceed payroll tax revenue by approximately $29 billion this year, because of the severe recession which has reduced payroll tax revenue at the very time that many unemployed Americans have been forced to retire early.
    read more How Republicans, Democrats and the Mega-Wealthy Stole Your Social Security Money | UFO'S BLOG PAGES AND WEB SITES
     
  2. kyzr
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    kyzr Gold Member

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    Clinton came up with the "Unified Budget" when the SS money was no longer in Gore's "lock Box".

    Its not just SS that needs to be restored, its also Medicare. SS is supposed to be solvent thru 2037, Medicare goes bankrupt in 2017. I want to see how long the "Big Deal" extends these vital programs.
     
  3. Truthmatters
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    Truthmatters BANNED

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    Raising taxes on the wealthy back to what they used to be can solve this all.
     
  4. Toddsterpatriot
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    Toddsterpatriot Gold Member

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    I'm laughing at your weak math.

    :cuckoo::lol::cuckoo:
     
  5. kyzr
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    kyzr Gold Member

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    Not just on the wealthy, when the Bush Tax cuts expire that helps a lot. They still need to eliminate subsidies, foreign aid, and tax loop-holes. We can't afford to borrow to give largess. Bringing the troops home from most places also helps. Here is the classic NYT "You balance the Budget" and see how easy it really is. That the DC clowns can't do it just shows how stupid they really are
    Budget Puzzle: You Fix the Budget - Interactive Feature - NYTimes.com
     
  6. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    If you stole every penny possessed by your "wealthy", you'd have about $980,000,000,000.

    You're an idiot and a tool.
     
  7. ClosedCaption
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    ClosedCaption Diamond Member

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    see what many wont acknowledge is that it isnt the fault of one party but both are to blame. SS and Medicare has been looted by both parties then when the bag is almost empty repubs claim that the program itself is faulty and ignore the hands that are stealing from that program

    It's like saying a bank has a failing business model because someone just robbed it and took all its money
     
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  8. Toddsterpatriot
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    Toddsterpatriot Gold Member

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    The program is faulty.
     
  9. kyzr
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    kyzr Gold Member

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    Its customary to list WHY so that we can support or oppose. Your trite post style isn't helpful.
     
  10. oreo
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    oreo Gold Member Supporting Member

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    Politicians are the only people in the world who create problems and then campaign against them --Charlie Reese

    There's no doubt that Social Security--is a much bigger and better ponzi scheme than Bernie Madof ever thought of. If you don't make it to now 65--and you're single the Federal Government simply confiscates 12.4% of your gross wages (employer/employee) contribution--if you make it to 65--you get diddly sqwaut in a monthly check.

    The Federal Government has used this fund as their slush fund. To pay for wars--foreign aid--political goodies--earmarks and about anything and everything other than the well-being of the elderly.

    But it's been DEMOCRATS who have flatly opposed putting a portion of your social security into private sector (guaranteed) funds--and for good reason. They wouldn't be able to get their grubby little hands on it--if it were in the private sector.
     
    Last edited: Jul 24, 2011

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