Author Topic: The Hidden History of Social Security  (Read 730 times)

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Offline jpatrickham

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The Hidden History of Social Security
« on: September 13, 2011, 02:47:37 PM »
Filed under Economics

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"Social Security is in the news. People are finally telling the truth: It’s a government sponsored Ponzi (Pyramid) scheme. In the beginning, the costs of Social Security were not that great and not everybody was in the system. In fact, Congress had exempted itself. Most federal and state workers were not in the system. Public school teachers were exempt. They could opt for a private system. Members of Congress had their own private government (taxpayer)-funded system. This didn’t change until 1984. Compared to today, the costs of Social Security were small. Those in the system paid two percent (employee and employer pay-in combined) on $3000 per year for a total of $60. Now it’s nearly 12.5 percent on more than $106,000 per year.

According to the Social Security board of trustees, there were 42 “covered workers” per Social Security beneficiary in 1945. For every person receiving benefits, 42 people paid for that single recipient. Seemed like magic, except that few people anticipated the “birth dearth,” a decline in family size, legalized abortion, increased SS benefits, a larger recipient pool, and that taking money from people to pay other people is immoral. But we’re talking about “government funding.” Immoral is its middle name.

Since 1945, the number paying into the system has changed dramatically:"



Read more: The Hidden History of Social Security | Godfather Politics http://godfatherpolitics.com/916/the-hidden-history-of-social-security/#ixzz1Xrbb7fwR

Online Libertas

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Re: The Hidden History of Social Security
« Reply #1 on: September 13, 2011, 03:57:59 PM »
Government sponsored Ponzi scheme, 'nuff said.
We are now where The Founders were when they faced despotism.