Skip to content

SOCIAL SECURITY BASICS

March 31, 2011

Once again the Right-Wing is demanding big cuts in Social Security. Why? To reduce the deficit, of course! Social Security is an expensive entitlement program that’s bleeding us dry! Right?

Let’s go back to basics. To facts, not opinions. The.most.simple.basic. facts. This is as simple as I can make it:

1. Social Security is an entirely self-financed insurance program, not an entitlement program. It is not subsidized by the government.

2. Social Security has never contributed even one penny to the deficit or our national debt. Further, because of the way it is set up,  it cannot.

3. Therefore cutting Social Security, whether by a little or a lot, cannot and will not reduce the deficit by one dollar, one nickel, or even one penny.

3. Since its inception in 1935 the Social Security Administration has  generated a $2,600.000,000,000 surplus paid entirely by workers and employers through the SSA payroll tax. That amount, if the zeros make your eyes go all googley, is two trillion, six hundred billion dollars.

4. That surplus has been loaned by the Social Security Administration to the government every year in recent decades for the government to use for other purposes.  SSA will remain solvent at least until 2037 unless the federal government  chooses to welsh on its debt and defaults on its promises to keep repaying the money borrowed from SSA.

5. For sixty percent (60%) of all seniors (citizens 65 years of age or older) Social Security  retirement is most of their income.  The average retirement benefit amount is $14,000 per year.  The median total income from all sources for seniors on Social Security is $18,000 per year.

6. Anyone who tries to tell you differently is either vastly ignorant or willfully lying. Do not listen to them. #1-5 above are objective facts: the. bare.bones. basic. facts. upon which all honest discussion must rest.

Now I will editorialize: Any politician or pundit who tells you cuts in Social Security are necessary to reduce the deficit is a cynical bald-faced liar who should be confronted on his or her lying. Ask why they are lying. Then ask him or her why people with a median income of $18,000 a year, many too old or too sick to work, should make more financial sacrifices so the giant criminal corporations and wealthy individuals who ruined our economy (and were rewarded with bailouts and new rounds of even more tax breaks) won’t have to make any

What’s going on is becoming so naked, so transparent, so obvious that only willful blindness (or the Stockholm Syndrome) keeps anyone from seeing it. The lying has become as naked and obvious as the plundering and looting it serves to justify.

There is an ugly, brutal, very cynical class war going on, being waged against the American people in what used to be America.

It’s time to quit being polite and nice about it.

  

  

 

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: