15. Perhaps the most pertinent question would be whether or not
American government should continue to teach citizens to count on Social Security at all?
Would it be so terrible to have a government that actually abided by our founding document, the Constitution?
The people would be responsible for themselves, and the government would no longer offer entitlements (bribes) for their votes
Time for an... 'amusing'... allegory:
“Once upon atime in the land of America, there lived triplet brothers named Tom, Dick, and Harry Class. They were 45 years old, had virtually
the same aptitude (skill), and were raised in the same home.
Each was married and had two children. All three were employed as carpenters making $25 per hour,
working 50 weeks a year.
While they were almost identical in most respects,
they had somewhat different preferences and values.
For example, Tom, who worked20hours a week,
had a different work ethic from his brothers, Dick and Harry, who each worked60hours per week.
Neither Tom’s nor Dick’s wives worked, while
Harry’s wife worked 40 hours per week as an office manager making$50,000per year (the same hourly rate as her husband).
Tom and Dick spent all of their income, and were relying on Social Security to take care of them when they retired.
Harry and his wife, on the other hand,
saved most of her after-tax income over many years, gradually accumulating$300,000.
They invested this money in bonds and real estate that produced$25,000 a year in interest and rental income. “
Policy Review Hoover Institution
Obama: “
If you’ve got a business -- you didn’t build that. Somebody else made that happen.”
a. Which one had the wisest approach to their finances?… Tom, Dick, or Harry Class?
b. From which one should we ‘redistribute”?
c. And, how much?
