| "Social
Security benefits are not:guaranteed"
- Michael
Tanner, - HERE
Insane System: "Many people are unaware that the money that is taken out of their paychecks for Social Security is not -- repeat, not -- being put aside to pay for their retirement. That money is paying for people who are retired right now, and anything that is left over is being spent by politicians in Washington for anything from farm subsidies to Congressional junkets. ... Liberals are desperate to keep Social Security the way it is, because that means they can keep spending your money as they see fit and keep you dependent on them. That's what the welfare state is all about." -- Thomas Sowell, HERE. Further, the trustees of the Social Security Administration now say the system will begin paying out more in benefits than it receives in taxes in 2017, twelve years from now.
"Your estimated benefits are based on current law. Congress has made changes to the law in the past and can do so at any time. The law governing benefit amounts may change because, by 2042, the payroll taxes collected will be enough to pay only about 73% of the scheduled benefits."-- printed at the bottom of page 2 of your Social Security statement "Private accounts and reduced benefits are the only way out of this one, folks. To make the program truly solvent, the government would have to confiscate so much wealth it would destroy the economy. Maybe the Congress will make the right choice and fix the problem. I doubt it." -- Neal Boortz, HERE. "An economy hampered by restrictive tax rates will never produce enough revenues to balance our budget -- just as it will never produce enough jobs or profits." -- John Fitzgerald Kennedy |
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