Social Security or Social Insecurity?

Social Security is all trust and no fund. There’s no stash of your cash in an account with your name on it that nobody can touch. The money that beneficiaries get comes from the paychecks of their working children, grand-children, friends and neighbors. If you had private accounts, there would be cash in an account with your name on it. Therefore, Social Security is not a“social insurance plan” like it is described by some, but a welfare program that takes money from working people to give to retired people (who, by the way, must pay income taxes on a certain amount of the benefits received).

Just like Ponzi’s plan, Social Security does not make any real investments – it just takes money from later “investors” or taxpayers, to pay benefits to earlier, now retired, taxpayers. Like Ponzi, Social Security, in the future, will not be able to recruit new “investors” fast enough to continue paying promised benefits to previous investors (today and tomorrow’s retired seniors). Because each year there is fewer young workers relative to the number of retirees, Social Security will eventually collapse, just like Ponzi’s scheme. It is now estimated that by the year 2017 (or sooner if the recession continues), Social Security will be paying out more than it will be taking in. It is expected to become insolvent around the year 2040 or there about.

How long will it be before our elected representatives finally try to make Social Security a financially viable program so that future retirees will be able to count on receiving benefits during their retirement years? The most “politically incorrect” answer is what Pres. Bush tried to do a few years ago, after reading a report by the late Sen. Patrick Moynihan (D-NY) and former Sen. John Breaux (D-LA), who suggested using part of the payments, now being made by today’s workers into the present Social Security system, into private accounts that become the property of the worker, which can be passed on to his/her heirs upon death. It has been shown that over the years, a three or four times better return can be realized by letting people put some of their F.I.C.A. contributions into “blue chip” equities or debt instruments (AAA Bonds). Even in today’s down market, a worker would be getting a greater return on his contributions than he would get from the present system, if he had a partially “private” Social Security account as described above (if it was setup 20 or more years ago). Yes, there is no 100% guarantee, but past experience, over the last century, has shown that it is most probable that a worker would be vastly better off with a partially privatized system, even taking into account the ups and downs of the market, through good economic times or bad. We must try something as the present system is going broke, just like Bernie Madoff’s financial empire which came crashing down. Even a “Ponzi Scheme” run by the government is not immune from disaster.
Written by Chuck Lehmann

Obama is Too Busy For Our Troops

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Democrats and the Truth

Michelle Malkin’s column today indicates that Michelle Obama has joined the Democratic Club for the Advancement of Stretching the Truth or Just Plain Telling Lies. Click here! In her column she accurately quotes Michelle O as saying: “Some of my best memories are sitting on my dad’s lap, cheering on Olga and Nadia, Carl Lewis, and others for their brilliance and perfection.” The problem is that she was 20 years old when Lewis competed in the Olympics – a tad old for sitting on Daddy’s lap.

Now she can join the ranks of Joe Biden (I had a private meeting with President Bush), Al Gore (I invented the Internet), Hillary Clinton (I was named after Sir Edmund Hillary after he climbed Mt. Everest, which he did in 1953 some seven years after she was born), the late Senator Kennedy’s false statements concerning Bork, Alioto, and other judges that came before his Committee for confirmation, Nancy Pelosi’s lies about CIA waterboarding and what she claimed was the Catholic position on abortion, etc.
Written by Jim Pirretti

Celebrity Hypocrisy Continued

The Celebrity Hypocrisy continues. First, we have David Letterman who lectured certain Republican politicians on being faithful to their spouse – while he is having affairs with people that work for him. As a retired labor lawyer, this case of sexual harassment would be difficult to defend. Of course it was his “good looks” and “charm” that wowed his employees – not the fact that he was their boss.

Next we have Michael Moore, also known as the Big Fat Slob, making a film about capitalism and all of its evil ways. The slob is all for the common man, the union workers, except when he has to employ them. It seemed that Moore's film crew used non-union stagehands to film "Capitalism: A Love Story." His offer of free tickets to unions was turned down by the American Federation of because Moore didn't hire any members of the International Alliance of Theatrical Stage Employees! http://www.nypost.com/p/pagesix/union_teaches_moore_lesson_sCK9AXSEsqhAtwpyoUkv5K

Some other examples of the hypocrisy of celebrities.

By Jim Pirretti

The Slob, Michael Moore

Moore knows best about Health



The Great Cuban System