http://www.freestateproject.org/node/13577
http://www.freemindstv.com/episode68.html
Free Minds TV July 4, 2008 (EP 68)
At the 22 minute mark of this video, FreeMindsTV tackles the Social Security Scam.
Forced “saving”!
Younger workers are screwed.
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They nail a few points but overlook many of the flaws and falsehoods of the “plan”.
* It’s racist. It’s sexist. It transfers money from poor minority men to rich white women.
* It’s inter generational socialism.
* It’s unfair to people who die young; cheats their estate of all their savings.
* Ties into cigarettes and the morality around that. Politicians can’t get us to quit smoking because of its impact on tax collections and life span. If we seriously quit smoking, social security would go broke faster!
* It has been changed by politicians to our determent over time — from voluntary non-taxable to involuntary taxable! What Congress bestows; can and will be changed.
* An American educated economist in the 70s successfully moved Chile from socialistic social security just like here to private system without government control. Much to the people’s benefit. In a country where 70% of the people were illiterate. Amazing how people can understand and manage their own money.
* It has a negative rate of return. Not counting inflation, I’ve seen studies that assumed constant value of the dollar, and estimate the ROI of SocSec at between a negative one and two percent. Figure in inflation and it’s a joke.
* It ties into the inflation rate in several ways. Social Security takes your ‘contribution’ wink wink in more valuable dollars now and pays you back in less valuable dollars later. Then you get to spend your social security check on much more expensive stuff. Since inflation is not uniform across products.
* It give the politicians yet another slush fund. And, employs all those relatives and voters.
* It distracts the tax payer from the real issue — liberty!
Argh!
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Posted by reinkefj 
Reinke Faces Life 