Wednesday, January 12, 2005

Observations Part 6: Social Security and You (Joe American)

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What the hell is your problem people? You want to go along with our President's new reform program? Yes, our own "dumbass" President Bush is real shady now. What the hell is he thinking? If you don't know or haven't followed the news, get this.... President Bush wants you to be able to decide where your hard earned Social Security Tax money goes until you retire. It get's worse, your choice is going to benefit..... YOU! The hard working tax payer that can't wait until you retire. This guy can't be real. He must be crazy. Allowing stupid Americans to take their government retirement plan and actually make money with it. All this because, Social Security, the government program for all Americans is going to run out of money in 20 some odd years. Whoa Bush... you've gone off the deep end now!

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You see, back in ole 1935, during the heart of the Depression Era of the United States, American's like those above had no real future. You went to work for 15 hours a day, 6 or 7 days a week and when you got 62 years of age, you were out of luck or could not get work. So you stole money from the kids above to make ends meet. You see, you lived with your kids, who set you up in the back of the house to slowly die. A smart President came along and established something called Social Security. You and your employer would be "taxed" for your wage earnings and these earnings would give retired people money to live and eat. What a concept. You see the average American lived to be 62 so it made sense. Half made it and half didn't and America was the winner. It helped the government and the economy grow. If you were black, well, this program was not for you because sadly you lived to be 47 on average in 1935. So this program was racially biased and should have been changed long ago... Again whitey stuck it to the black man. IMO.

Well, 70 years later, due to the privitized Medical Industry and not a Socialized one, America made great advances in health care. We discovered it was not ok to smoke. You needed to eat healthy. You needed to excercise. We got paid vacations. We made great medicines and new drugs to cure a lot of diseases and man, people are freaking living forever. And well, in 1935 there was 1 working person to every 3 retired. The program made money. Well since people are living forever there are now 10 retired people to ever 1 working person. It will only get worse when the Baby Boomer generation retires. In other words, the program is out dated and no longer works.

Enter Ted Benna, Mr. 401k. This guy found a loophole in the tax code 20-some years ago. You can actually put money away in a program that earns money that you can't withdraw until retiring, that is not taxed. What a concept. And the IRS approved of this!!! And guess what? People are making more money for retirement than in Social Security even if invested in the most conservative low yield safe programs, which run at 2 to3% increases on average per year. These programs are generally aligned with the Stock and Money Markets.

Mr. Bush, our RIGHTFULLY VOTED BY MAJORITY PRESIDENT of the USA, thinks this concept would be ok to do with our Social Security money. Currently our Social Security dollars that we pay from each paycheck yield 1% a year and are deceasing! That means for every dollar you put in you get a dollar plus a penny back when you retire. Has our country ever heard of banks? But... you liberals that liked my first paragraph and have now realized I am slamming you think otherwise. You don't want people to have a say so with their money just as you don't want them to have a say so on who is President. You think money is better left in the hands of the government. (yet complain when it's pissed away on a war you don't like, run by...our government... That your leaders could change if it was so wrong!) Oh and by the way, when my Baby Boomer parents retire in a few years, you guys will want to increase taxes 27% to fix the program (I heard a local respected radio talk show guy say this today, and this guy knows what he is talking about because he is an investment banker, by trade). Good luck passing that through Congress, beeyatch!

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