Re: OT: Politics [Was:Social Contract]

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On Sunday 30 April 2006 02:10, "Monique Y. Mudama"
<spam@xxxxxxxxxxxxxxxx> was heard to say:
On 2006-04-30, Mumia W penned:
Social Security is not driven by a high profit motive; it's
purpose is to provide stable retirement income to people, and it
does a fantastic job of that.

It's not stable because it doesn't work when the population isn't
booming.

Far worse than that. It's a pure ponzi scheme, if anyone else were
doing it other than government they would be in jail.

There is no "trust fund", there is no fund at all. Every penny
that "Social Security" taxes bring in goes directly into the general
fund. It is spent.

Every penny that "Social Security" send out comes from the general
fund, too.

The bookkeeping fiction is to count SS out verses SS in and notice
that the lines are converging, and then say, "Social Security will be
bankrupt in...." however long. The only effect that raising
the "contributions" (as if I can say no) and retirement age has is to
maintain the gap a little longer so that the money can be spent
elsewhere.

Social Security is bankrupt right now, because the Fed.gov has to
borrow money to maintain its spending even with the extra money that
SS brings in.

As I said, if Congress were held to the same standards as Enron and
WorldComm, they'd all be doing long prison terms where they belong.

- --
September 11th, 2001
The proudest day for gun control and central
planning advocates in American history

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