Day: November 3, 2022

ECONOMICS: Social Security is a Ponzi scheme that is a national disaster and getting worse

Published on by reinkefjLeave a comment

https://www.dailysignal.com/2022/11/02/7-facts-biden-ignored-about-social-security-in-his-speech-to-florida-retirees/?utm_source=TDS_Email&utm_medium=email&utm_campaign=MorningBell&mkt_tok=ODI0LU1IVC0zMDQAAAGH2-4XvReNlf-88oulRzrqa4RzRxEmWEZbT5rnJoS1tumDrnI9892TnNi09M5trdns5w9_APQOfhNXa47MWqPTZVlYwUJcobrXBm7-PtbXZWG3ovRJ

7 Facts Biden Ignored About Social Security in His Speech to Florida Retirees
Rachel Greszler / November 02, 2022

  • Rachel Greszler is a research fellow in economics, budget, and entitlements in the Grover M. Hermann Center for the Federal Budget, of the Institute for Economic Freedom, at The Heritage Foundation. Read her research.

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Social Security is a bad deal for current and future workers. Social Security may have been a good deal for Biden’s generation, but it’s not a good deal for current and future workers. A Heritage Foundation analysis showed that the average younger worker could receive nearly three times as much as Social Security can provide if they were instead able to save Social Security taxes in their own retirement accounts. (The Daily Signal is the news outlet of The Heritage Foundation.) Even low-wage workers making about $20,000 a year could have 40% larger incomes in retirement as a result of saving on their own. And personal savings can be passed on to family members or friends, something that’s especially important for lower-income Americans, who are less likely to be able to save outside of Social Security and also for individuals with shorter life expectancies. One in five black men will die between the ages of 45 and 65, meaning they will pay tens or even hundreds of thousands of dollars into Social Security and could get little or nothing in return.

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It’s often been asserted and proved that Social Security is a racist program that transfers wealth from poor minority men to rich white women.

If for no other reason, it needs to be eliminated.  I’m sure the financial gurus can transform the unfunded liabilities fairly.  Yes, it will be painful and not pretty.  I can foresee the under 40 participants getting a 25+ year bonds for their “benefit”.  The 40 to 67 get a similar but non-transferable bond ladder.  Current recipients will have to be paid out of the current budget.  It’s going to require pain, but it’s better than future financial disaster when all the politicians and bureaucrats who created the mess are long dead.

Argh!

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GUNS: Could the US Gooferment ever sieze all the guns?

Published on by reinkefjLeave a comment

FROM QUORA

Kelly Jones
Knows a bit about firearms, and about physics

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If firearm confiscation were to become law, and gun owners fought against it, how many fatalities of either police or civilians would gun control activists be willing to accept before abandoning the effort?

Why would there be ANY fatalities?

Let’s think about the sides here:

On one side, you have gun owners, who aren’t willing to surrender their rights. They have guns.

On that same side, you have police, who (for the most part) are in favor of ‘civilian’ ownership of guns, and who (for the most part) have taken an oath to defend the constitution. They, also, have guns.

The only ones on the other side are the misguided citizens and politicians who illegally voted for gun confiscation. They, for the most part, have no guns. How, exactly, are they going to pose a lethal threat to the other side? This just seems like a non-starter, and possibly the shortest conflict ever.

The only question is, how will the victors handle those who sought to deprive them of their rights?

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Sorry, but it is an interesting “thought experiment”.

I’d think it would be interesting to consider what would happen in the “inner city” first.  I’ve often written that the drug gangs would be a fine example of a guerrilla militia since Viet Nam.  Farmed by day; warrior by night.  The police can’t currently control the guns in the streets today under today’s rules.  What will happen if the elite Gooferment officials (i.e., ivory tower politicians and bureaucrats) declare it “open season”.  I doubt that police would enforce those orders.

Now let’s consider what happens in the rural areas where the average hunter may have better and more practiced with arms.  That’s not going to be pretty.

Now let’s consider all the arm chair keyboard warriors.  I’d bet that half give up their guns, but the other half would give a good account of “from my cold dead hands”.  That will be be a blood bath. 

In short, it would be short, bloody, and a reaffirmation of the RKBA.

Consider that in the USA there are probably a lot more guns than people.  And, those trains will not be loading willing participants.

Most patriots will remember the Holocaust, the Japanese American interment, the Trail of Tears, and Gooferment’s violent history of suppression here and abroad.

Yes, how will the trials after work out for the gun grabbers.

Hope it never comes to that.

Peace.

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