4 Social Security Changes Coming in 2011
by Emily Brandon
Tuesday, January 18, 2011
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The Social Security program will be tweaked in several important ways in 2011. Workers will get a temporary tax break on the amount they pay into the entitlement program, and several claiming options for retirees will be eliminated. Here’s a look at how the Social Security program will change this year.
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The Social Security system’s finances are not expected to be harmed because the trust fund will be reimbursed for the full amount of the tax break from the general fund of the Treasury. However, this change also means that the Social Security trust fund will no longer be completely funded directly by citizen contributions. “This pretty much ends the claim that Social Security is self-financing or that it doesn’t contribute to the budget deficit,” says Andrew Biggs, a resident scholar at the American Enterprise Institute and a former deputy commissioner of the Social Security Administration.
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What a bunch of hogwash!
This is all a myth.
Myth: “an unproved or false collective belief that is used to justify a social institution”!
Boy, that sure fits.
If you went to Metropolitan Life Insurance and bought an annuity. They would take your wealth that you gave them freely, invest it in something productive, deduct their fee, and return it to you over time in accordance with your contract. You have “rights”. You know it will be audited. You can sell it. You can rely on their assurances. There’s a risk, but you’ve considered and know it.
Now compare it to the Social Security “system”. (It’s wrong to call it a Ponzi scheme. In a Ponzi scheme, you volunteer to participate. Usually out of greed. But, with “Social Security”, you don’t get a choice.)
They TAKE your wealth. If you don’t want to participate, men with guns will come and possibly kill you.
That wealth is thrown into the General Fund. And, you get a promise. Not even an IOU.
The whole article “celebrates” the system.
Where are your rights?
When the system goes broke, you, and I, will be standing like David Copperfield, hat in hand, saying, “May I have what’s mine, sir?”
“We, The Sheeple” are getting shorn again.
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