Proud to be an American
An interesting poll taken by a Canadian show "Walking with Americans"
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The Ponzi scheme known as Medicare/SS is by definition waste, fraud and abuse.
I'm quite pissed that unlike other Ponzi victims, I am KNOWINGLY paying into a pyramid scheme by threat of dispossession and imprisonment by Uncle Sam.
Everyone is in a tizzy about throwing the geezers out in the cold today, but how about the geezers of tomorrow? They won't see a dime because we will have MugabeBucks by then.
Fuck the 401k and Roth. The day will come -- mark these words -- when we will be forced to "invest" in US treasury securities as some % of our private retirement account elections. That's when the final confiscation of our personal savings goes into full force. This is just what the HFT robots haven't already picked off our pensions and IRAs yet, of course.
I don't understand why SS and medicare is so trash. Don't they have bright portfolio managers to grow those funds? I mean, if you look at Canada, CPP and other pyramid schemes seem to be doing very well.
the portfolio management scheme is to raid all contributions in real-time to spend on other non-SS/Medicare expenses.
Exactly. If they left the money in the piggy bank, a lot more of it would be available in the future. Of course that wouldn't necessarily solve our problems going forward but it would certainly help.
Regards
Kind of funny how i believe public sector employees have way too big of pensions, yet I have a job because of large pension funds investing....
Social Security legislation was signed into law in 1933 to provide funds to meet life’s basics. The idea was money would be collected during workers lives, placed in a fund and then paid out to retirees. It was a solvent entity until the 60’s when the entitlement and great society programs were passes into law under the auspices of the social security act, which gave those programs access to the social security trust fund (check the program legislation authority, i.e. 1933 SSA). This way, Congress didn’t have to raise taxes initially.
The medical community quickly became aware there were no limits on what they could charge for services, Drs., drug companies, medical equipment providers, hospitals, etc., resulting in an explosion in costs and a depletion of the SSA trust fund. There were other programs, as well, medicade, aid to dependent children, etc. Regan implemented managed care in the 80’s in an attempt to stop price increases, but the genie was out of the bottle.
Now, money goes from workers checks directly to fund these programs, and it still isn’t enough.
Once an entitlement is given, good luck trying to take it back.
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