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Economic rationalism is the Ponzi scheme. Relying on the invisible hand of greed to heal all Ills. This economic train of thought is whats wrong with America first and foremost.
there is also a quote from Milton where he says in effect that SS is not a insurance policy, but a flimsy promise by current politicians that future politician will to continue to fund the benefits from future tax payers- no matter how ridiculous those current promises are.
The DJIA, from 1935-1965, made 4.57% above inflation. Imagine if we could keep all that money that goes to social security (let's say 10% of our salary back in our pockets, since our salary would likely go up a bit just like Friedman said). That'd be so nice to invest.
• Socialism is an evil though in the time of the great depression Social security did what the government is supposed to do; to help provide relief in troubled times. And that they should continue to do; it is what they are put in that place to perform. The awful fact is with corruption in full swing the very people whom we elect - 'supposedly'; are taking this thing as one of their spokes to take away peoples freedoms.
@shamgar001 ... From the point that they are elected by the people and are supposed to be for the people... I don’t mean to be rude though your question does sound peculiar; I don’t understand your reason for your question? do you work for the government? Aren’t the government meant to protect the people that is why people pay taxes? Else they do not belong there.
@CTR831 The government's purpose is to protect our rights from people who would take them away. The state isn't supposed to give us anything, just protect those things which we already have.
The point of my question it that the government is constrained to only perform the actions outlined in the constitution. Military defense? Constitutional. Police? Constitutional. Building roads? Constitutional. Social security? Not constitutional.
In the end. What was the difference? Still we millions of senior citizens shoved into old age homes waiting to die and woe to those who retire only with Social Security as they will get the most substandard of care.
The baby boomer generation began 65 years ago this year (in 1946). 65 is the age at which people can start collecting SS. If SS is stretched thin now, just imagine how it's going to look ten years from now.
I was looking for the current percent of income taxed by "Social Security" and found this
" . . . 6.2% of wages, with the matching 6.2% being paid by the employer. For workers who are self-employed, 15.3% of their income must be paid as Social Security tax."
@LeedansParis There is a temporary 2% break for the taxpaying workers this year paying so their portion of the social security tax are 4.2% and the SE tax will be 13.3%. I would have preferred a permanent break instead as the bad part about temporary tax breaks as there is an automatic increase later. Our elected government leaders love those later automatic increases (they are addicted to them) and we shouldn't let them have any of them.
Government should not be in the business of engineering a "happy old age," but rather be limited to just protecting our rights. The "happy old age" concept was simply a vote-buying mechanism, providing plenty of goodies and very little pain for the original voters, while condemning faceless future generations as beasts of burden. It was the king of all Ponzi schemes.
@fzqlcs Vote buying... goes on with both sides. Unfortunately, the vote buying by the liberals and democrats is "what we'll give you" TAKEN from someone else! And now they've TAKEN 14 Trillion more than taken in already.
In reality back when SS was invented 90% or more of old people would have lived with their families when they got old. Now 90% go to government run old people warehouses. Why? Because their families have been sold on the idea that old people are the governments responsibility.
@XCritonX Look at it from the old person's perspective. Put yourself in their shoes. How would feel about becoming a burden to your family. The indignity after an independent life would be unbearable. So sad. We should do more to help people retire with dignity and peace of mind not less. We should be strengthening Union participation and increasing income on the organic level. The root of the problem is not entitlements. It is a system guided by greed and not compassion.
@wesrackley Its to bad that you feel that old people living with their families is a burden. So sad.
Unions are a relic of the past. We will see their extinction in our lifetime because they are no longer needed in the modern world of high tech jobs. Unions only help the unemployable, lazy, leaches of society get "jobs" and their union bosses get fat unearned pay checks.
Only you can increase your earned income. Only I can increase mine, by working harder, smarter, better and more efficiently.
@XCritonX I wonder what condition the SS liability would be in if people had been working for the last 30-40 years for wages based on contracts derived from collective bargaining?
@wesrackley Worse, the whole country would be bankrupt and uncompetitive. Think Greece and Portugal. Almost everyone works for union "jobs" and the companies are going bankrupt due to the uncompetitiveness of the lazy and feckless labor forces. No one wants to work because they are guaranteed a wage as long as they show up.
Union greed for unearned money is the worse kind of greed. It ruins peoples work ethic, self esteem and ultimately leaves them unemployed and unemployable.
I don't know LP, this one was missing something. It didn't really have that 'pop' I've come to expect.
Also, why didn't you address the fact that SS became a total mandate, only after it was discovered that people were not voluntarily participating. That has always seemed an important point to me.
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Peace Maker Society supports the message in this video! Google us, search our page on facebook. We teach you what you need to know to hold the system accountable. To learn your unalienable human rights. The government acts under corporate law. You need to learn how that affects your rights, & how to not contract with the corporation acting as government. No corporate entity has the right to tell you what to do without a contract. Learn what contracts they have over you, how they work. Join us!
Marcerileybessette 8 months ago
Economic rationalism is the Ponzi scheme. Relying on the invisible hand of greed to heal all Ills. This economic train of thought is whats wrong with America first and foremost.
wesrackley 9 months ago
I think this is your best video libertypen!
eiffuy 1 year ago
The ghosts of FDR and LBJ didn't like this video.
kev3d 1 year ago
there is also a quote from Milton where he says in effect that SS is not a insurance policy, but a flimsy promise by current politicians that future politician will to continue to fund the benefits from future tax payers- no matter how ridiculous those current promises are.
sgsst 1 year ago
if i pay in all my life and get screwed at the end, im gonna be pissed..
qwezzie 1 year ago
The DJIA, from 1935-1965, made 4.57% above inflation. Imagine if we could keep all that money that goes to social security (let's say 10% of our salary back in our pockets, since our salary would likely go up a bit just like Friedman said). That'd be so nice to invest.
jrsub3 1 year ago
Just invalidate your social security number by advertising it on You Tube.... if millions did this, the system would collapse.
TheKaffeeKlatsch 1 year ago
• Socialism is an evil though in the time of the great depression Social security did what the government is supposed to do; to help provide relief in troubled times. And that they should continue to do; it is what they are put in that place to perform. The awful fact is with corruption in full swing the very people whom we elect - 'supposedly'; are taking this thing as one of their spokes to take away peoples freedoms.
CTR831 1 year ago
@CTR831 Where in the constitution does it say the government is supposed to "provide relief for troubles times"?
shamgar001 1 year ago 3
@shamgar001 ... From the point that they are elected by the people and are supposed to be for the people... I don’t mean to be rude though your question does sound peculiar; I don’t understand your reason for your question? do you work for the government? Aren’t the government meant to protect the people that is why people pay taxes? Else they do not belong there.
CTR831 1 year ago
@CTR831 The government's purpose is to protect our rights from people who would take them away. The state isn't supposed to give us anything, just protect those things which we already have.
The point of my question it that the government is constrained to only perform the actions outlined in the constitution. Military defense? Constitutional. Police? Constitutional. Building roads? Constitutional. Social security? Not constitutional.
shamgar001 1 year ago
Comment removed
CTR831 1 year ago
In the end. What was the difference? Still we millions of senior citizens shoved into old age homes waiting to die and woe to those who retire only with Social Security as they will get the most substandard of care.
WhoIsJohnGalt4279 1 year ago
PHASE OUT SS !!
Up age to 72, and people under 50 get NO BENEFIT ! Get an IRA !!
Brantoc 1 year ago
News flash:
Government is neither:
1) A bank. They spend all the money they take.
2) An investment. It produces nothing. Therefore it has nothing to sell. Therefore it can't make a profit and pay you a return.
aisarosenbaum 1 year ago 5
Ponzi scheme = FAIL!
Fiat currency = FAIL
Socialism Pyramid = FAIL
Self Determination and individual liberty = WIN!
espada9 1 year ago 8
Not a bad piece but this really deserves to be longer and more detailed so that people really get that they have been conned.
kmg501 1 year ago
The baby boomer generation began 65 years ago this year (in 1946). 65 is the age at which people can start collecting SS. If SS is stretched thin now, just imagine how it's going to look ten years from now.
scrappmutt2 1 year ago
I was looking for the current percent of income taxed by "Social Security" and found this
" . . . 6.2% of wages, with the matching 6.2% being paid by the employer. For workers who are self-employed, 15.3% of their income must be paid as Social Security tax."
LeedansParis 1 year ago 2
@LeedansParis There is a temporary 2% break for the taxpaying workers this year paying so their portion of the social security tax are 4.2% and the SE tax will be 13.3%. I would have preferred a permanent break instead as the bad part about temporary tax breaks as there is an automatic increase later. Our elected government leaders love those later automatic increases (they are addicted to them) and we shouldn't let them have any of them.
CPAsheldon 1 year ago
Government should not be in the business of engineering a "happy old age," but rather be limited to just protecting our rights. The "happy old age" concept was simply a vote-buying mechanism, providing plenty of goodies and very little pain for the original voters, while condemning faceless future generations as beasts of burden. It was the king of all Ponzi schemes.
fzqlcs 1 year ago 23
@fzqlcs Vote buying... goes on with both sides. Unfortunately, the vote buying by the liberals and democrats is "what we'll give you" TAKEN from someone else! And now they've TAKEN 14 Trillion more than taken in already.
ProudConservative2 1 year ago 2
In reality back when SS was invented 90% or more of old people would have lived with their families when they got old. Now 90% go to government run old people warehouses. Why? Because their families have been sold on the idea that old people are the governments responsibility.
XCritonX 1 year ago 44
@XCritonX Look at it from the old person's perspective. Put yourself in their shoes. How would feel about becoming a burden to your family. The indignity after an independent life would be unbearable. So sad. We should do more to help people retire with dignity and peace of mind not less. We should be strengthening Union participation and increasing income on the organic level. The root of the problem is not entitlements. It is a system guided by greed and not compassion.
wesrackley 9 months ago
@wesrackley Its to bad that you feel that old people living with their families is a burden. So sad.
Unions are a relic of the past. We will see their extinction in our lifetime because they are no longer needed in the modern world of high tech jobs. Unions only help the unemployable, lazy, leaches of society get "jobs" and their union bosses get fat unearned pay checks.
Only you can increase your earned income. Only I can increase mine, by working harder, smarter, better and more efficiently.
XCritonX 9 months ago
@XCritonX I wonder what condition the SS liability would be in if people had been working for the last 30-40 years for wages based on contracts derived from collective bargaining?
wesrackley 9 months ago
@wesrackley Worse, the whole country would be bankrupt and uncompetitive. Think Greece and Portugal. Almost everyone works for union "jobs" and the companies are going bankrupt due to the uncompetitiveness of the lazy and feckless labor forces. No one wants to work because they are guaranteed a wage as long as they show up.
Union greed for unearned money is the worse kind of greed. It ruins peoples work ethic, self esteem and ultimately leaves them unemployed and unemployable.
XCritonX 9 months ago
You think that living on reduced means is a "happy old age?"
billyguns2 1 year ago
I don't know LP, this one was missing something. It didn't really have that 'pop' I've come to expect.
Also, why didn't you address the fact that SS became a total mandate, only after it was discovered that people were not voluntarily participating. That has always seemed an important point to me.
UtubeMyAccountName 1 year ago
sounds like the story for Obamacare.
panzer903 1 year ago 4