President Donald Trump on Saturday afternoon openly vowed to permanently "terminate" the funding mechanism for both Social Security and Medicare if reelected in November.
The Trump campaign was apparently so satisfied with the public acknowledgement of the president's promise to make the payroll tax permanent—a move that would inherently bankrupt the Social Security system—that it clipped the portion of the press conference and
shared on social media immediately after it concluded.
Getting Baby Boomers off the federal dole will be the greatest accomplishment by any U.S. president of the past 100 years.
Workers can now spend the money the government had held for their retirement from the first day of their employment. Waiting until later years to begin saving for one's old age is a much more viable system, since everyone will be diligent in this effort.
You realize that social security is just a government mandated Ponzi scheme. You find an initial group of investors, then find a second larger group of investors to pay off the first group, then find an even larger to pay off the 2nd group, and so on. The problem with ponzi schemes is that you get to a point where you never have a large enough group of investors to pay off the previous groups of investors. We’ve hit that point long ago. Social security was projected to go bankrupt in a decade back when Obama was still president. Pensions for government Union workers are also ponzi schemes, which is why a judge ordered Chicago to pay pensions for police, firefighters, and other city workers even though the cost is Chicago’s entire budget...on the pensions alone. The solution to a ponzi schemes is not to keep pumping money into the system. You don’t want to turn into Chicago where the city kept promising to deliver money at a later date that it knew it wouldn’t ever have. Social security was always going to need a reform. Ages to receive benefits pushed up, and privatization opt out systems that would be completely tax free in order to incentivize use of the private system. I’m 30, there’s no way in hell im ever going to see the money that I put into social security. Mathematically it isn’t going to happen.
The entitlement programs we put into place many decades ago have been growing into unsustainable monsters. They alone make up more than 60% of the fed budget. They continue to grow at an alarming rate. The answer is not to throw more money at it. Especially considering it’s the very same Federal government that misspent 1 trillion from 2006-2016. Misspent not meaning wasteful spending on clown collages in Argentina (yes we are giving money to clown collages in Argentina) but money going to the wrong places, double charging, or just straight up disappearing. Think about that. The government essentially lost 1 trillion in ten years. It took apple 40 years to become the most wealthy business in human history valued at 1 trillion. Government lost what the most wealthy business is worth in 10 years. It lost a full 1/3 of tax revenues it receives yearly. 5% of the national GDP was disappeared by the government. That’s something to get enraged about.
The solution is NOT to keep throwing money at the government. It’s to demand government get its shit together, cut back on spending, streamline, stop passing omnibus budgets, stop being a cesspool for fraud, stop passing regulations by big companies for big companies at the expense of small ones, have a balanced budget amendment...and oh yeah, ******* reform these damn programs that we know for a fact are going to bankrupt us in a matter of decades. They’re spending like a spoiled 20 year old girl with daddy’s credit card. It’s ridiculous.