There is really nothing wrong with the Social Security system in our country. Social Security is funded via a payroll tax on all income up to $110,000. You pay 6.2 percent and your employer pays 6.2 percent. And since those numbers were set in 1983, and for the next 30 years or so those payroll taxes provided more money than was needed to pay out benefits to retirees and left a pretty whopping surplus…something like 3 trillion dollars worth of surplus!
But did the surplus get invested in high yield bonds or stocks or anything else that would guarantee that 4 trillion dollar surplus to grow like it should have, astronomically, like say, if it had belonged to the Koch brothers or Walton family or any other billionaire worth his or her billions?
No. Instead Congress borrowed it to spend on its pork filled spending programs, gigantic wars and tax cuts for the wealthy, rather than raise additional taxes or balance their budgets, and then they put treasury bonds up as collateral for the borrowed surplus with a promise to repay at 4% interest, which of course is chump change, to any real investor, let alone a trillionaire, like we Social Security Trust funding taxpayers are supposed to be.
But today the SS fund no longer brings in as much in pay roll taxes as it pays out in benefits so it’s time for the Federal Government to pay its debts… And now, Just like any degenerate gambler, who knew all along that he was never going to pay up when the time came to cover his losses because his losses were simply going to be too big to repay. So what are we hearing from Congress now? “Oh no! The SS program is broken. It was never meant to work. There are too many people taking and not enough people paying into the system. It was all a Socialist scam!” Which of course are all lies because our Congressmen simply don’t want to pay back today, what they have been borrowing and spending over the last 30 years of yesterdays.
Nice, huh? Especially since “borrowing” the surplus SS funds is a polite term that Congress has been using, rather than the correct term of “stealing”, because in order to repay the “borrowed” money Congress will have to borrow money. Which would be like that degenerate gambler saying to his creditors, “May I please borrow some money from you so I can pay you back?”
So what to do? Well first the SS Trust Fund needs a champion…a billionaire manager or board of managers who represent the fund and the taxpayers, as opposed to the degenerate gamblers who have been fraudulently managing it. Then that SSTF manager can let the federal government refinance their treasury bond loans as Government “Student Loans”. You know, the ones that the government provides for our students at 8% interest and beyond. The ones that the government has made 41.3 billion dollars worth of profit on in 2013 alone…and that’s a higher profit level than all but two companies in the world. And they would be Exxon Mobil and Apple!
And if we refinanced the Social Security debt as student loans then, as per federal law, those loans would have to be repaid and could never be forgiven…not even if the federal government declared bankruptcy!
Right now our students owe over 1.2 trillion dollars to the federal government that they must repay at outrageous interest rates while the federal government owes Social Security about 3 trillion dollars at a modest interest rate that most Congressmen are now saying they can’t repay! Ain’t that America? Well, it shouldn’t be.
And don’t listen to any politician who says that he knows how to solve the Social Security problem by dissolving it, especially those who are bought and paid for by the Koch brothers who have said in the past, “We favor the repeal of the fraudulent, virtually bankrupt, and increasingly oppressive Social Security system. Pending that repeal, participation in Social Security should be made voluntary.” …And they are currently spending over 1 billion dollars on a Presidential candidate who will do just that, if he is elected.
It’s just too bad that the American Congress has borrowed America’s money. Just like everyone else they have to make good on a loan and pay it back, with interest. Otherwise they all need to step aside, resign their positions as elected leaders and let honest American men and women fill their posts and honor America’s debts. If we can promise to repay the Japanese and Chinese governments the trillions of dollars that we owe them and yet refuse to forgive the trillion dollars that our children owe us…then we can certainly honor debts to ourselves without boo-hooing about how expensive it’s going to be…can’t we?
And Anyone who says otherwise is a degenerate opportunist who needs to go straight to jail!