The Fraud of the Social Security ‘Trust Fund’ Exposed by a Most Unlikely Source
by DON BOUDREAUX on JULY 16, 2011
in MYTHS AND FALLACIES, OTHER PEOPLE’S MONEY, POLITICS, SOCIAL SECURITY, VIDEO, WHAT’S WRONG WITH THE COUNTRY
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Today’s Wall Street Journal exposes the lie that is the so-called “Social Security Trust Fund” – and further reveals the disgraceful flippancy with which politicians and their go-fers mislead the public about it.
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An I.O.U. that you write to yourself and that you yourself hold might be a useful accounting device, but it is not wealth. Unfortunately, many politicians and bureaucrats enamored with Social Security lie (the word is not too strong) repeatedly about the nature of these bonds and what they imply about the solvency of Social Security.
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Using the word “trust” in connection with ANY politician and or bureaucrat is the height of stupidity.
As I tell jobseekers, “the only paycheck you can count on is the ones that you have cashed”.
How can we convince “We, The Sheeple” that there is no “Trust Fund”. If the money was given to MetLife, Prudential, or even used to buy a farm or a factory. That has a chance to bear fruit in future years.
Even if one bought an annuity with their “Social Security Insurance” “contributions”, then you’d have a chance of a return. Even a Ponzi scheme is more moral; the scammer can’t MAKE you give your wealth away. The Gooferment will kill you if you don’t.
Frau Reinke paid in for years, got 8 months back, and I got her $225 death “benefit”. For decades of “contributions”!
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