My first thought was how anyone could turn their car over at the usual 25 mph speeds on the Schuykill Expressway. My second thought was that I was damned to having to take the route from 69th Street in Upper Darby down Chestnut Street (aka The 30 Blocks of Squalor) to work. I was still steamed by Obama’s $450 billion “JOBS” plan. His new plan was touted as an infrastructure plan when it is nothing but a “screw future generations” plan. Do these politicians have no shame?
Obama and his minions will tell you that Social Security is a fantastic program. It should not be touched. They declare that it is self funding. That is a bold faced lie. The Social Security Trust Fund has a $17.5 trillion unfunded liability. This is why:
“A male average earner who retired at age 65 in 2010 paid out $345,000 in total Social Security and Medicare taxes, but will receive $417,000 in total lifetime benefits ($464,000 for a woman).
A much bigger disparity in taxes versus benefits occurs for couples. In the case of a household with only one wage earner, the taxes paid out were $345,000, but the benefits received by both parties will be $778,000. For two-earner couples where one earned the average wage and the other earned a low wage ($19,400), tax payout was $500,000, but benefits will be $800,000.
Those who retired in decades past saw much bigger returns for their payroll tax investment. But clearly this situation is not sustainable. It’s like putting all your expenses on a credit card knowing full well you don’t have the means to pay it back.” – Bankrate.com
3 comments:
This newest remake of Obama's failed policy is designed to try and pin Obama's economy on the republicans. Nothing more.
It is a disaster that can get passed in the house or senate. Obama will then try and say that the economy sucks because the republicans blocked his fix 2-3/4 years into his term.
Didn't this blog recently post a refutation of the argument posited here? Along the lines of the employer ALSO contributing to the workers total contribution and the thousands of people who never collect a dime because of death and the fact that the government doesn't pay any interest to the worker on that $340,000 over a 30 year period? The CONGRESS, which steals theis money as soon as it is collected and the fact that millions of people collect from the fund in ways that were never intended to be (i.e., the millions of black children whose parents have them classified as "diabled" because they beat other kids up in school and then get $600-700 a month -- each child). The SSI fund would be absolutely and unequivocallysolvent if it was used expressly for it's original intended purpose. Thank you congress, LBJ, and Jimmy Carter.
you forgot to thank bill & al who "cut" the strings & dipped into a fund, which, before the 2 of them came along, was UNTOUCHABLE!
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