Since the Social Security Trust Fund is nothing but a bunch of IOUs, how long will it take before people realize what a sham the whole system is? It’s nothing more than a legal ponzi scheme.
Before the usual suspects start chiming in about who’s fault it is, keep in mind that neither Democrats nor Republicans ever had the guts to face the issue for fear of losing votes.
Richard
Government run anything is just a 'house of cards'. And the problem goes back to us. As voters, we do not hold our elected officials to the same standard as we do our own children. Until we stop electing 'incumbents', 'personalities' and 'image' and start electing substance, we will just keep getting what we have now. That being a ballooning deficit, a bankrupt Social Security, a plethora of entitlements, a crumbling infrastructure, etc....
We have a chance this November to take a small step in getting rid of some of the moron's in DC. Since Obama was elected, many folks are starting to see that image does not equal results, the Peter's Principle at work.
More trolling J Scott? Here's what I actually said "I suppose that's true, but when you need a $100 TRILLION note to buy a loaf of bread (like in Zimbabwe), it's not MUCH value." But, you knew that, didn't you?
Luckily there's a record of what you said for anyone who cares to scroll back one page. As a reminder (and I quote):
"As soon as reality sets in and the government checks for welfare, medicare, medicaid, SSDI, free cell phones, food stamps, etc, etc, etc. stop being sent or are seriously cut back, the economy will collapse and civilization will break down."
So, which is it...hyper-inflation or economic collapse and the end of civilization as we know it? They are very different things (at least to most rational people)...
Sorry, you can't hide from your ridiculous inconsistencies when there's a record of what you write...it's quickly becoming obvious that you just like to hear yourself speak...
Since the Social Security Trust Fund is nothing but a bunch of IOUs, how long will it take before people realize what a sham the whole system is? It’s nothing more than a legal ponzi scheme.
Before the usual suspects start chiming in about who’s fault it is, keep in mind that neither Democrats nor Republicans ever had the guts to face the issue for fear of losing votes.
:cool:
When hyper inflation comes (if it does), the cost of that loaf of bread will be so enormous that even if all the government monies were transferred into the Social Security Trust Fund it would not be able to sustain even an adequate living for those on it.
This will cause cutbacks so that the payments recieved by those who depend upon them will not sustain their life. When this is realized by that group the looting and rioting will begin and there will be a breakdown of society (It is currently happening in Greece and other parts of Europe, so dont count on the Euro either.) as these revolts increase.
So Hyperinflation and economic colapse are the same thing as one leads to the other.
Dont forget that civilization as we know it is a civilization of free will not a civilization of being told what we must do!
You can't continue taxing the rich to pay for it. We're running out of rich. The richest 1 % now pay nearly 40% of all income taxes. There are nearly 60 % of the population that pay less than ONE per cent of all taxes. (I might be off a tiny bit, but not much) Freebies sound good to the 60%, and it makes an easy way to get elected. Just promise to take money from those that have it and give it to the 60%. Big mess, imo. Rich
It's true that the richest 1% of Americans pay about 39% of all taxes, although they also earn 20% of all earnings. So they are paying about double their "fair share". The problem is that wages are so lopsided, that even lowering this to 30% would result in a prohibitive increase in taxes on a huge portion of the lower and middle class.
I just found an article that the richest 400 Americans paid an effective tax rate of 17% in 2007 vs. 29% in 1993. If that extrapolates to the rest of the super-rich, that represents a huge loss of revenue for the feds. I'm very politically independent, but the best thing that Obama has said in a year was in a speech in the fall - that there's a disparity between the services Americans want and what they are willing to pay for them.