and this is the guy u want in charge???? Political correctness?? How bout common brains???
Yes. It's nice to hear a politician tell the truth. Kinda refreshing.
Of course, the real problem has sveral key components. First, there is no provision in the Constitution to establish a "National retirement system". The gov't has no authority to "make us save for our retirement." (much less, pay for someone else's.)(ie. the current system.)
Second, the SS system is a the largest Ponzi Pyramid Scheme on the planet. It would be illegal, if run by anyone but gov't. The Pyramid makes grand promises that it can only keep by continuing to enlist new "payers" (ie. suckers) into the program.
As long as 10 new workers pay in for the oldest retirees, everything works. Even 4 or five will work.
Problem #3 is demographics. We now have only three workers paying in for every retiree and soon it'll be just 2. The promised payouts are so huge to the vast sea of baby-boomers, that the system is unsustainable. The bottom of the pyramid is contracting along with the birth-rate and we will have to raise SS taxes, delay or lower payouts and extend the retirment age to keep the system solvent.
The last significant problem is that participation in the scheme is mandatory. If you work in America, you will pay into the system. That "forced participation" is a critically important element. People rightfully say, "Yes, I will get all my benefits, as promised, since I was forced to pay into the system." That is a powerful incentive to vote and do whatever it takes to "get out, what we put in."
It behoves us to be very careful about allowing gov't to force money from our pockets. It almost always ends badly.
The whole SS System is headed for collapse.
There is a solution, however, and I'll gladly post if anyone is interested.
Social Security was just fine and would have had plenty of money except the government decided that the money provided a nice fat cash cow! They took the money and replaced it with worthless vouchers.
Yes they did, and now they need to pay it back. If they can't honor that promise perhaps it's time for the pitchforks to come out, and start over.
A nation can be rated on how well they care for thier elderly, poor and disabled. The Government is the people, so it would only make sense that the government would provide some type of retirement program. I am sure dillio would say "your drinking too much of that government cool aid" but this still is The United States Of America last time I checked.
There is a great way to solve the SS issue of running out of funds. Higher sin taxes!!! Tax the hell out of alcohol, tabacco products, pop, candy, etc. This would also solve many health care problems in this country. Why add more taxes to the working class when you can tax the so called bad people for thier negative behavior. You have to admit eating your veges is better for you then smoking.
Face it, someone is going to pay, so let it be the more of "the two evils" in this case. Finally evil wins.
A milk cow with 310 million tits? We sure could make alot of cheese.
So, pop and candy are "sins"? Glad I don't live in that country.
"Because gov't is the people,it makes sense for the gov't to run a retirement scheme." How does that follow? I see that as an illogical non-sequitor.
The starting point for the gov't to do Anything, is the document tnat authorizes it's action, the US Constitution. Gov't is not allowed to run a retirement plan. That authority rests with the individual.
The ponzi-pyramid scheme, we call Socialists In-security, is unconstitutional and illegal, they just haven't been challenged on it, yet.
For the gov't to set up a retirment plan, they would have to point to the section of the constit. that allows them to do that. There is no such authority in the Constit.
And, yes someone will pay. But that someone is the individual, putting his own money into his own retirement account. The current system has deteriorated to a generational cost-shifting scheme that amounts to theft from our children.
The original scam was sold to us a having a numbered account that we and our employer would pay into. That's why we have SSN's.
Porn is generating close to 10 billion dollars a year. Wouldnt hurt to tax them a little more for the benefit of society on a whole.
Pop and candy will be taxed more due to the fact 2/3 of americans are obese. Are they sin? Anything that humans abuse could be considered a sin.
Life is this simple. Those who make more, tax more. Those who make less, tax less. This is not rocket science. Very simple concept convoluted by years of political BS.
Give to ceaser what is ceasers and you know the rest of the phrase.
POWER TO THE PEOPLE.
We could just tax all earned income. Right now once you hit $106,800 you quit paying into the SS system. So, only the lower middle and low income people are paying into the system. Just think how much LeBron and Tiger could add to the piggy bank if they taxed them on all their earned wages???
Taxing the sin products only hurts the working folks, i don't smoke or chew but i think they are being taxed enough already.
Good point Zebra. I think most of us are, indeed, Taxed Enough Already. And because there's an income cap at the top of the SS system, it functions like a regressive tax. These are two good reasons to allow some, slow privitization of our gov't-run ponzi scheme. It should keep the promises to our seniors and those about to retire, but the younger payers should be allowed the option of remaining in a dismal return, failing system, or opting to plan for their own retirement.
The regressive nature of the SS sytem and the forced participation are more than sufficiient reasons to alter or abolish it. The same is true for the one-percent mandatory sales tax. We should lift that regressive burden on our friends and return to the joy of giving, vice force.
Now more than ever we need to question all our taxes and liberate ourselves from as many as we can.
Remember: Freedom in November.
It seems to me that since it's the very rich types that have benefited from the Bank bailouts that this would be an excellent idea. Perhaps we could end involvement in endless overseas conflicts too? I think the country needs to be run more like a business as opposed to the drunken frat party of the last 40 years!
Here is some food for thought:
This video was produced by Shane Killian, who has created several videos illustrating the use of critical thinking and skepticism to debunk conspiracies and other "bogosities" (as he calls them.)
Shane's description for this video:
"Understanding how Social Security works is vital to seeing what a horrible scheme it is and how we need to end it before we all go broke."
I don't disagree with the principle of what you say, it just burns my *** that the American people have already more than paid for these benefits. Social security should be solvent for many years yet but the government spent the surplus elsewhere. If this happened in the private sector it would be called fraud and people would be headed to jail! Now the very same crooks who created the problem are proposing the solutions!
Great comment. Just curious, what do you propose as a solution?
I'd say if anyone is on the government tit right now it's the 535 members of congress both democrat and republican, and of course let's not forget their wealthy banker friends like Wells Fargo, Goldman Sacs and Citibank! If we can afford to bail out rich bankers so they can keep their bonuses we can sure afford to pay the elderly what they were promised!
Anyone that knows Alan should be fully aware of AND totally appreciate his rather unique version of euphemisms. I find that every time he uses one of his GREAT phrases, the message he brings is totally clear.
This whole "political correctness" thing is totally ridiculous!! People are far too "thin skinned" when it comes to being offended. Granted it is expected that we moderate our language somewhat in respect to our audience, and I wouldn't be surprised if maybe Alan wishes he would have used the word "teats."
In my opinion, the whole nation would be far better off if we had a lot more people of Alan's demeanor employed in our governments at all levels.
Actually it doesn't have 310 million tits. it just has 310 million wanting to suckle and that's why it's running dry.
This guy is a clown who could not have been elected dog catcher in any other state than Wyoming. He will only make the state look more stupid that it already does on the national stage.
You are either a liberal or too young to know anything about this great man. He didn't become a powerful and popular senator in his tenure because a few dumb hicks in Wyoming voted him into office. This man is an actual leader who is not afraid to tell it like it is and step on a few toes if need be. In the future Wyoming would be lucky to have men similar to him who become prominent in Washington. We need more people like Alan Simpson.
I generally like and respect him, but I have to say almost everyone who ran this country the past 40 years is part of the problem. I believe he had some hand in granting amnesty to illegal immigrants back in 1986 or so. There's almost no one who served in congress the last 40 years who didn't vote to spend that surplus, and now they accuse those who want to collect as promised of being on the government tit?
I voted yes at least he's honest. Maybe we should start asking the congress critters what they have been doing with the surplus funds all these years, I know they wont leave old people who paid into this mess hanging in the wind, will they?
Is it because people might be offended with the analogy? I think he's right on. It's really too bad that most people don't think far enough ahead to properly plan for their own retirement.