Thursday, January 20, 2011

No SSN For You

Social Security Is in the Red Already: Are We Borrowing Trouble? - DailyFinance

Social Security is out of money. Back in 1983 President Carter increased our Social Security taxes from only 2% to over 6%. We were told at the time that the system was saved by this massive tax increase. Those same workers who started paying those higher taxes have not even begun to retire and now they are being told the system is broke, again.

Social Security should be made a private system, mandatory for every employee, including every elected official and every government employee. All government pensions should be voided and all retired government officials should be put on Social Security. I would include Congress, the military, local police, everyone in the new retirement system.

If people wanted more from the system, then they should be able to invest in a 401k retirement account. The government at all levels provides itself with huge retirements while the rest of us struggle to survive. Many government employees retire as young as 40 or 50 years old while the rest of us are expected to work until we are 65 or even older before retiring on a fraction of what government employees get when they retire.

Now I am sure the Democrats will propose more of the same failed government responses to “save” Social Security that we have had pushed on us in the past. Higher Social Security taxes will be the first thing they will want to do to us. The next thing will be to increase the retirement age even further than it is now. They will not provide us with any real reform that might actually fix the problem; that’s the view from the Hysterical Right Wing.

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