Former US Senator Alan Simpson - Reuters
Former US Senator Alan Simpson - Reuters
Here’s the latest freakin joke coming out of Washington DC. We citizen serfs are greedy.
Alan Simpson, a man who worked most of his entire life in government – some 50 years, has called us the greediest generation partially because seniors are against cuts in social security. Yes, many of us really do expect to get a decent return on the money the US government took from us at gunpoint. After all, unlike private business where we can choose to spend our money on a product or service, you and your government cabal gave us no choice in the matter.
Yes, social security is in big trouble. The federal government has plundered the Social Security Trust Fund and replaced the money there with IOU’s. If a private company did this, government storm troopers would blitz the company offices with shock and awe, arresting the officers and directors. Press releases would be dutifully published in the mouthpiece media by puff piece writers posing as reporters, denigrating each of the company’s managers. Once again, the government would trumpet their victory over evil private business.
Social security is yet another botched US federal government administered program that’s contributing to dangerous budget deficits that may bankrupt the nation. And these deficits must be eliminated. The government must get on sound financial footing or America will cease to be a nation of any relevance. Or worse, the oligarchs giving Senators, Congressthugs, and the President their marching orders will use the collapse of the American economy to force this once free nation into a world governing organization – that they control of course.
But let’s get back to greedy – who is really greedy here Mr. Simpson? You want to lay the burden for the excesses of an out of control socialist government on the backs of seniors – people who are least able to defend themselves against the thugs in Washington DC. Let me repeat myself. Most of the people who rightfully expect Social Security to be there for them, were forced virtually at gunpoint by the federal government to pay into this system. It’s not like any of us were given a choice.
Many of us have seen the 15% social security withholding from our income disappear into government coffers for decades. This is not chump change. There is credible evidence that 15% invested in the private market would yield a considerably greater return; up to 4% vs. the 1% or so you currently receive from the government system. Plus in the private market, the money is yours. You can will it to someone else when you die. But you have risk if you take your social security monies and put them in the private investment market, the socialist governing yappers say. Well, I see a bigger risk to my “investment” in the US government – I may never see a fair return on the money I was forced to pay into the government system.
The US federal government has mismanaged its finances for over 100 years and now this failure to apply the simple economics that most homeowners do in running their own homes, has brought America to the brink of insolvency. In fact, if the USA were a business, government regulators would step in, shut-it down, and arrest its officers and directors. Where are the enforcers who swore to obey and protect the Constitution of the United States? Shouldn’t they be locking up the villains who have led this government into an Enron or WorldCom like financial position? Instead, they along with the mouthpiece media spin this yarn about raising taxes on the rich.
Meanwhile, the Royal Family occupying the White House, Congress, and the Senate, live in the lap of luxury. After fleecing the productive members of society for decades, they now want to cut a program (Social Security) that is largely funded by you and me. Why not? Their perquisites and benefits ensure they all live in rich luxury during their retirement. What do they care about social security other than to use it as a political bargaining chip?
Consider what you and I are paying to ensure our elected and un-elected government officials spend their old age in comfort and style.
Under FERS (Federal Employees’ Retirement System), “a member becomes eligible for benefits upon retirement from Congress if he or she is 62 years old with five years of congressional service; 50 years old with 20 years of service; or any age with 25 years of congressional service.” Compare to your benefits package if you work in private industry. “The amount of a congressperson’s pension depends on the years of service and the average of the highest 3 years of his or her salary. By law, the starting amount of a Member’s retirement annuity may not exceed 80% of his or her final salary.” (from About.com)
Let’s see now. A Senator serves one term. He or she is now eligible for retirement at 62 years of age, receiving up to 80% of the average of the highest 3 years of salary. Plus they receive family health care benefits for life. So we’ll just average the last 5 years of those overstuffed civil servants in the Senate: $847,700 divided by 5 equals: $169,540. At 80%, their annual pension would be $135,632. Well bless their hearts – how will they get by on that pittance paid for by you and me?
Why would Alan Simpson care about social security benefits? He’s covered with some of the richest benefits in the world. If anybody’s greedy Mr. Simpson, it’s you and the thugs who occupied the Senate and Congress for decades, using money taken by force from the US citizens and then handed over to special interest groups as payoffs to get you re-elected.
Should social security be fixed? Yes. But not at the expense of people who actually worked for a living and had their sustenance taken by an out of control government. If this is how the budget will be balanced, then America truly needs a privatized social security system. One where the US government is forbidden to meddle.
Alan Simpson Photo: Reuters (http://www.pictures.reuters.com/c/C.aspx?VP=XSpecific_REU.HomePageSpotlight_VPage)
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