Some good news first - the Tea Party express is about to make its second tour through the country! I'll be there on November 9 and let me tell you, I am FIRED UP. See the detailed map for a location near you.
The bad news - Obama is going to spread more wealth around - $13 billion to be exact. He wants Congress to provide a one-time payment of $250 to help senior citizens weather the recession. The alleged reason is that this year is the first time in decades that seniors on social security haven't gotten a cost of living adjustment. The reason for this is that consumer prices have remained stagnant this year.
Questions for Obama: If the cost of living has stayed the same, why do they need extra money? Is this money being borrowed from China? Is the real reason you are doing this is because seniors are ticked that you are planning to make cuts from their Medicare to "give" everyone health insurance? Are you worried they will vote you and your cronies out since they are the one group that always shows up to vote? Is this going to be a regular ongoing payment? Why don't you just go ahead and resign now? Pretty please?
Showing posts with label social security. Show all posts
Showing posts with label social security. Show all posts
Thursday, October 15, 2009
Monday, January 5, 2009
Privatizing Social Security
Now's probably not the best time to talk about how great investing in the stock market is but I'm going to anyway.
Did you know that since 1926, the annual average return of the stock market is near 12 percent per year when adjusted for inflation?
Did you know that for a household with two 30 year old wage earners, the average return on an investment in social security is only 1.23 percent annually? For some low income minorities, there is actually a negative return because of decreased life expectancy.
Wouldn't it be great if instead of throwing away our money that is stolen from our paychecks against our will and thrown into a large social insecurity pot, we could keep some or all of that money in a private account to invest as we wished?
Bush tried to enact a partial privatization of social security. Under his plan, workers would be able to place part of their social security money into private accounts that they would control and be able to pass on to children and grandchildren. The accounts were completely optional, not mandatory. Those workers who were comfortable with SS as it was didn't have to participate. Sounds like a great plan, right?
Guess who didn't think it was a great plan: Barack Obama. He called social security "Franklin Roosevelt's greatest legacy" instead of what it is: a giant entitlement program that is bankrupting America and that I don't expect to see a dime from when I retire. On the campaign trail he told a group of voters in Florida that McCain wanted to privatize their social security and "gamble with their life savings".
That is typical liberalism for you: any possible option that would lessen the effect of government in peoples lives should be quashed. If American citizens are not reliant on the government anymore, the Democrat party will shrivel up and die. What a wonderful thought.
Did you know that since 1926, the annual average return of the stock market is near 12 percent per year when adjusted for inflation?
Did you know that for a household with two 30 year old wage earners, the average return on an investment in social security is only 1.23 percent annually? For some low income minorities, there is actually a negative return because of decreased life expectancy.
Wouldn't it be great if instead of throwing away our money that is stolen from our paychecks against our will and thrown into a large social insecurity pot, we could keep some or all of that money in a private account to invest as we wished?
Bush tried to enact a partial privatization of social security. Under his plan, workers would be able to place part of their social security money into private accounts that they would control and be able to pass on to children and grandchildren. The accounts were completely optional, not mandatory. Those workers who were comfortable with SS as it was didn't have to participate. Sounds like a great plan, right?
Guess who didn't think it was a great plan: Barack Obama. He called social security "Franklin Roosevelt's greatest legacy" instead of what it is: a giant entitlement program that is bankrupting America and that I don't expect to see a dime from when I retire. On the campaign trail he told a group of voters in Florida that McCain wanted to privatize their social security and "gamble with their life savings".
That is typical liberalism for you: any possible option that would lessen the effect of government in peoples lives should be quashed. If American citizens are not reliant on the government anymore, the Democrat party will shrivel up and die. What a wonderful thought.
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