Just when you thought we had enough money for the Social Security ponzi scheme, it turns out we don’t.
Republican Minority Leader John Boehner says we need to reform the country’s entitlement system, starting with Social Security:
Eventually getting the retirement age to 70 is a step that needs to be taken.
I think, secondly, instead of using the wage inflator, that increases in social security should be based on the consumer price index. I think it’s a more accurate reflection.
And third, we need to look at the American people and explain to them that we’re broke. If you have substantial non-Social Security income while you’re retired, why are we paying you at a time when we’re broke? We just need to be honest with people.
I think if we did those three things we would solve the problem.
Good luck Mr. Boehner. It’s never going to happen, well, not until we get to the point where the entire system comes crashing down, then it will be forced on us by the free market.
First, the wage inflator exists because we have an out of control Federal Reserve that prints money like a Hasbro board game factory. If we want real price stability, then we need to get the central bank under control.
Second, we need to get Congress and the Executive under control, including you, Mr. Boehner. You continue to commit trillions of dollars to programs that are simply not necessary. Entitlements like social security, Medicaid, Obamacare and welfare are just part of the problem. Over-bloated, inefficient government is the real issue. You’ve been in Congress for twenty years. What have you really done to curb spending?
Third, if you made a commitment to pay a retiree social security, then regardless of how much money they have, they should be paid what they’re owed. You, the government, seized assets by force, and are now reneging on your promise.
Of course, this was to be expected. Social Security, unknown to most Americans, is one of those programs that can be eliminated at any time and for any reason. There is no obligation on the government’s part to pay you what is owed.
Going forward, we should eliminate social security, as well as GovHealthcare and let the private sector handle these issues.
By eliminating social security and current GovMedical care programs, working Americans would be able to keep in the area of 8% of their income which is currently sucked out of their paycheck every month. In addition, employers would be able to keep an additional 8% or so, giving them more money to invest in their employees and businesses. Those who are self employed would keep around 16%-17% of what they currently pay to government for these programs.
As Mr. Boehner said, we are broke. Solution: Stop Spending.
How hard is that?
It’s either going to happen voluntarily right now, or it will be forced upon us in a catastrophic collapse of the entire system as we know it at some time in the near future.
For those under the age of about 45, this should be a huge warning sign. Do not expect social security to be there for you, especially considering that the rules of the game can change at any time. It’s time to start planning your retirement without any government support. For those over 45 and depending on social security, we hope that the system can hold on long enough, but we’re not holding our breath.