February 19, 1999
Social Security Is Going Broke
Social Security is going bankrupt. The federal government's largest spending program, accounting for nearly 22 percent of all federal spending, faces irresistible demographic and fiscal pressures that threaten the future retirement security of today's young workers. According to the 1998 report of the Social Security system's Board of Trustees, in 2013, just 15 years from now, the Social Security system will begin to run a deficit. That is, it will begin to spend more on benefits than it brings in through taxes. Anyone who has ever run a business--or balanced a checkbook-understands that when you are spending more than you bring in, something has to give--you need to start either earning more money or spending less to keep things balanced. For Social Security, that means either higher taxes or lower benefits.
But even if Social Security's financial difficulties could be fixed by raising taxes or cutting benefits, the system would still need to be reformed because it is a bad deal for most Americans. Social Security simply costs too much and pays too little. Social Security's rate of return on payroll taxes is dismal (about 2 percent) and declining. Workers deserve a retirement system that will make the most of their money.
"It's your money, your choice, your future."
THE GREAT SOCIAL SECURITY RIP-OFFby Roger EllmanSaturday, 16 April 2011
Back under Ronald Reagan the Republicans engineered the biggest increase in the national debt ever [until the junior Bush exceeded even that]. Those oh so fiscally conservative and financially sound Republicans more than tripled the national debt, from about $1˝ trillion to about $4˝ trillion.
Well, what did they use all that money for ? They used it for the biggest arms build up in history. But, they didn't want to pay for it themselves, so they drastically reduced their taxes at the same time. Of course, anyone can see that if you run expenses up [the arms build-up] and run income down [the reduction in taxes on corporations and wealthy individuals] there's going to be a lot of debt incurred. And there was, trillions of dollars of new additional debt -- more than ever before [again, until Bush, Jr. “did it in spades”].
Well, but it takes cash to pay. Where did the cash come from ? Some of it came from borrowings from the public and some from foreign investors. But, the biggest single piece of it came from our pension fund, our retirement money -- the Social Security Trust Fund. All that money paid into Social Security by all of us over the years has been taken right back out by the government to finance that great indebtedness. The government took our pension money, used it to buy weapons, pay bribes, and reduce their taxes, and gave us little notes, pieces of paper saying that they owed us the trillions that they had taken.
But, surely the word of the U.S. government is good; surely the government will pay on those notes; surely our government is not going to borrow our money and then welch on the loan; surely ... ?
That's what all the noise about Social Security is about. That's what the propaganda and beating drums for changing Social Security are about. If they can't make changes, if they can't do something on this one as they have so often in the past, then -- my God, they'll actually have to pay on those notes, pay on that debt !
They're scared stiff that they might have to live up to their word and pay off the debt, and they're hell-bent on welching. And the way they intend to welch is by dismantling our Social Security System. They're going to make their debt go away, make it just disappear, by doing away with what that money was supposed to be for -- our pensions.
So, there's the deal. They take our pensions, which we paid for with the money they took from our earnings, and they use it to give themselves a big tax cut and to buy the weapons they want and they leave us with shattered Social Security retirement. How democratic ! How free !
SOURCE: THE GREAT SOCIAL SECURITY RIP-OFF
THE SOCIAL SECURITY SCAM
by David J. Stewart
It is sad how the American people don't read beyond the daily newspaper. One of my favorite statements was made by Thomas Jefferson, "The man who reads nothing is more educated than the man who reads nothing but newspapers." So true!
The average person believes just about everything they read in the newspaper or hear on the news, without ever really question the source and validity of these stories. Who owns and controls the media? Rich, greedy men and women (Big Business)! Who controls the government? Big business! If you don't believe me, just look closely at the whole Enron ordeal. You'll find that a whole bunch of high powered politicians and rich people were involved in the hundreds-of-millions-of-dollars that disappeared before Enron filed for bankruptcy protection.
Another 50,000,000 were stolen in promotions and bonuses for company execs right before they filed for bankruptcy. The investigation continues. There should be no protection for any people who deliberately break the law, especially when they knew thousands of innocent people were going to suffer. How horrible! So ask yourself, who controls the media?
Anytime you read a newspaper article or listen to the news about anything concerning government, ask yourself, "Why do the rich people governing over us want us to think this way?" "What are they conditioning our minds to accept?" "What is the truth?" "Is this the truth?" The article below is a perfect example of what I am saying:
Read "Social Security's Mammoth Shortfall Lies Ahead"
At first I read the article and was concerned that all my social security confiscations (I am unalterably opposed to paying social security) were not going to be there for me when I retire (and they probably won't, if Lord willing I live to see that day). The article above specifies that Social security payouts will have to be reduced by 27% in 2040 just to keep the system afloat. What next? What a joke! People can't barely survive on the measly social security money given to them today. They're surviving on peanuts (and many of them aren't surviving, they're rotting in poorly-run government nursing homes or dying on the streets).
One-third of state nursing homes don't meet up to government standards and are at the end of the government's list of priorities. I dread the thought of being trapped in a state-run nursing home from what I have seen, I'd rather die on the street. The government has no constitutional right to force me to pay into their money-grabbing scam.
The scam is that there is plenty of money in the government, but they keep telling us OUR social security may be reduced or even bankrupt when we retire. This is wrong in every sense! They are crooks and reckless spenders. Look at all the money collected for social security annually by the government from over 100,000,000 working people in this country (hundreds-of-billions-of-dollars annually). That's just for ONE YEAR! There should be more than enough (MORE THAN ENOUGH!) money in the social security system for those who are entitled to it. So where did the trillions of dollars go? Something is very wrong within our government! It is a SCAM when you forcefully take my money, use it for purposes other than for which it was intended, and then tell me you might not be able to give it back to me when I am entitled to it. Social security is a money-grabbing scam! The government should NOT have touched that money to begin with, it's not theirs... It belongs to the working citizens of the United States. Shame on them!
Do you know why Social Security began? It was the Federal Reserve Act of 1913 that bankrupted the United States by 1933. To collateralize our debt, the Social Security system was started. The U.S. government has operated under emergency powers ever since. We have been operating under bankruptcy since 1933! Our nation's days are numbered. And if you think Social Security is bad, consider that the criminal Banksters at the Federal Reserve, along with their buddies in Washington, have looted 23.7 TRILLION dollars from 2008 to 2010. That's over $30,000,000 spent per day since the time Jesus walked this earth. Evil criminals have taken over the U.S. government.
Any idiot knows that the only honest way to pay your bills, if you are in debt, is to STOP SPENDING! Not the U.S. government, they want to spend more money they don't have. It's called RECKLESS DEBT SPENDING! Do you realize that the entire reason the Federal Reserve (central bank) system was created in 1913 was to allow our government to go on a spending spree? It's true! That's how the Banksters financed World Wars One and Two, and soon to come, World War Three between the Arabs and Israel.
The Social Security scam allowed evil men to spend OUR money by borrowing against OUR future (never a good idea). And borrow they did! Today, 90 years later, our nation is in serious financial trouble, trillions-of-dollars in debt. Because of the consequences of this recklessness, our dollar is worth almost nothing. Gold prices have skyrocketed. America is a big mirage, enjoying a false security that someday will come to an end. The government knows it too! This is why FEMA camps are being built everywhere. They're retrofitting large warehouses, railyards and other public buildings to become FEMA camps. We are buying low-cost goods being manufactured by U.S. companies exploiting foreign slave labor in poorer nations (such as China, where the average yearly salary is only a mere $300.00... that's three hundred dollars a year!).
In Pakistan, the average salary is only $410.00 a year. They have no union representation. Long hours and hazardous machinery has cost millions their eyes, fingers, limbs and even lives. They work 12-16 hours a day for pennies on the dollar (this includes children). There was a day when we could have bought mostly American goods and lived well, not anymore. We could not survive as a nation if we stopped importing. Companies could not pay $20 an hour and still survive. Why? Because our dollar is weakened. The dollar has devalued by 40% since the year 2,000. The system has gotten away from the government, now they're having to operate an illegal trillion dollar a year drug empire to hedge up the US economy, lest it crumble (see www.copvcia.com ). They're doing this right under our noses. Yes, the war on drugs is a big scam too! There is no war on drugs! Ask congresswoman Maxine Waters of California, or congresswoman Cynthia McKinney of Georgia. Nothing is manufactured in America anymore, we are making a living by doing each other's laundry basically. Where is the real value in America? It's not here. So where does the money come from for us to buy/sell back and forth? From laundered drug money and other unethical sources? It's happening! There are hundreds of books written about everything I am telling you, start reading friend.
So if social security is in fact in deep trouble, it is only because of the irresponsibility of our own government leaders. However, I believe the persistence of negative news being released to the public about social securities problems are deliberately created to MISLEAD us concerning our social security. The government knows that we won't tolerate a sudden loss of our money, so they break it to us a little at a time over a couple of decades until social security is gone. I don't believe there is an unfixable problem, I do believe that the evil and rich elite are deliberately stealing our money. They are preparing (conditioning) our minds for what is ahead...very hard times in this country (hard times that they are going to be responsible for). Ultimately, it is the fault of the American people FOR BEING APATHETIC! Don't expect to much, if any, of your social security. The government only gets away with what we allow them to get away with. They've squandered our social security, and yet we keep voting for them (not anymore). If there is any social security in the future, it will only be because Uncle Sam is going to make the working people pay MORE. Now the irresponsible bureaucrats will have even MORE money to splurge with.
Either way, we are going to be the ultimate LOSERS! I calculated that if you were to invest just $3,000 a year (beginning at age 18) in government bonds compounded annually at only 3% interest, by the time you reached retirement at 62 you'd have $271,976.80! Not too bad a nest egg! By placing that same $3,000 into social security, you'd have accumulated NOTHING!. Uncle Sam gives you back under $10,000 a year in MOST cases. This is a raw deal!!! Here's the kicker...do you know how much interest you'd get each year at 3% on $271,976.80 invested in government bonds? You'd get $8,159.15!!! (that's without touching the $271,976.80). Think about it, you could leave all that money to your children (and that's exactly what the rich elite who control government don't want). It is ungodly for the government to hinder parents from leaving an inheritance to their children, but the government gets away with it anyway. If you do leave a big sum of money to your kids, Uncle Sam automatically confiscates 50% of it in the form of an "inheritance tax."
So by the government FORCEFULLY taking your money in the form of "social security," you are wrongfully hindered from accumulating any of YOUR OWN money. This is wrong! Let's go back to what would happen if you invested on your own (NO social security). Even if you lived to be 100, the $271,976.80 would generate $8,159.15 a year (that's about all the government plans to give you). That's if you just invested $3,000 a year. If you stashed away $6,000 a year, you'd have close to one million dollars when you retired. Now you'd receive $30,000 to $50,000 a year to live on (without ever touching the principal). Your children would have a great start in life. You could buy them (or at least help them) buy their own home. Today, it is almost impossible for young people to even think about buying a house without going into serious debt for a lifetime. Unfortunately, the rich elite has decided that we must pay for three houses to buy just one.
Of course, taxes is another story (one way or another, we will never get ahead financially). I can understand the negative implications if everyone had too much money; however, it is a shame that a man cannot buy a home a raise a family without being in debt to the system his whole life. This is the work of the federal reserve corporation (owned by greedy rich families), they want us in debt. By the way, the federal reserve bank is 100% unconstitutional because ONLY congress has the power to create and control money. Unfortunately, we have absolutely NO control over the federal reserve. They can drive us into bankruptcy simply by reducing the amount of cash flow in society. With no money, society stops functioning and bills cannot be paid. This is exactly what happened in the Great Depression and hundreds of thousands of innocent people lost their homes, farms and businesses.
So...it doesn't take a whole lot of thinking to come to the conclusion that the government is doing everything possible to keep us at the bottom of the rung of the ladder of life financially. Think about it! We're supposedly the richest nation upon the earth, yet we're always broke, in debt and can't make ends meet. Something is very wrong! The states are broke! Many of our cities are broke and in debt...Chicago, New York, etc. One has to wonder if all these institutions are legitimately broke, or do they simply want us to "think their broke" (to justify raising our taxes and starting gambling casinos all over the place). Corruption is just getting started in this country and we will be the ultimate losers for all these scams (as tax-payers, we will suffer directly and indirectly as citizens). After all that I have read lately, I will NEVER vote Republican or Democrat again (it's all a bipartisan conspiracy to manipulate the American people out of our money, rights and eventually our freedoms). I used to vote Republican all the time simple because I hate abortion. Then I realized one day that abortion is here to stay and the Republicans are JUST AS GUILTY as anyone else is in the murders of 50 million children.
They may speak against abortion, but they DO NOTHING to stop it. We need a new government in America, one that is not controlled by the globalist elite (Rockefeller family, etc.). In case you don't know, our presidents are all hand picked puppets (all blackmailable). Their chosen by the Bilderberg elitists. The media misleads the people by telling them what the evil world leaders want them to hear. People don't think for themselves, so history repeats itself again and again. America is in big trouble. We need to abolish the federal reserve bank and put control of our money BACK into the hands of the people, not private investors (bankers, like the Rockefellers, Morgans, Rothschilds, et cetera). Our money is worth less and less, our stock market is a mirage of wealth, our economy produces basically nothing. America is headed for disaster! I believe social security is a big money-grabbing scam, but that is only my humble opinion. Unfortunately, we really are powerless in the matter as individuals.
Make sure you are sitting down when you read what I read at the bottom of my official Social Security statement (which is sent out annually). It reads on page 2, and I quote perfectly, "Your estimated benefits are based on current law. Congress has made changes in the law in the past and can do so at any time. The law governing benefit amounts may change because, by 2042, the payroll taxes collected will be enough to pay only 73 percent of scheduled benefits." Shocked! I was! Go read your Social Security statement and sigh in frustration, yours says the same thing as mine (unless your about to retire). Do you really believe that your even going to get 73%? So instead of a measly $9,000 a year to live on, you might get $6,000 if your lucky. Don't count on surviving on Social Security. I recently spoke with a man in his upper 50's who had retired from Lucent Technologies. He is now working as a technician at another company. I asked him why he doesn't just retire? He said, "I am retired." I said, then why are you still working? He really surprised me by replying, "so I can eat!" The sad thing is that he was not kidding.
As a final thought, I really could care less if social security is there or not someday. Lord, willing I hope Jesus will return by that time so I don't have to end up at the mercy of the state. I realize the Lord is tarrying so that more sinners may come to the saving-knowledge of Jesus Christ, but I still long for the Lord's coming more and more each day. The Bible tells us NOT to accumulate riches in this life, but rather to "lay up treasures in heaven." This is what is truly important! I would save money if I could, but raising a family these days is rough. My wallet is nearly always empty (and I thank God because it keeps me humble). I love the Lord and don't care about money, it is only paper. The greatest things in life are not things: God, health, love, nature, sunshine, family, salvation, truth, friends, honor, integrity, respect, decency, forgiveness. These are the beautiful things in life.
"Give me control of a nation's money and I care not who makes it's laws"--Mayer Amschel Bauer RothschildThe Federal Income Tax is Unconstitutional (by Ron Paul)"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States" -- Senator Barry Goldwater (Rep. AR)"From now on, depressions will be scientifically created." -- Congressman Charles A.
Lindbergh Sr. , 1913
Ron Paul warns of One-World-Bank and Governing System
The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered. —Thomas Jefferson (1743-1826)
Listen to G. Edward griffin (Real Media)
The Creature from Jekyll
Island: A Lecture on the Federal Reserve (download:
Real Audio |
G. Edward Griffin exposes the most blatant scam of all history. It’s all here: the cause of wars, boom-bust cycles, inflation, depression, prosperity. It's just exactly what every American needs to know about the power of the central bank.
Disclaimer: I do not advise anyone on financial investments, please consult a licensed professional before making any financial decisions. My website is for research only.