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Gen Y & Social Security – The Ultimate Ponzi Scheme!


Ponzi circa 1920

Ponzi circa 1920 (Photo credit: Wikipedia)

Franklin D. Roosevelt delighted progressives around the country when he signed the Social Security bill in 1935.  In 1944, Ida Mae Fuller got the very first Social Security check, valued at $22.54.  Ms. Fuller, bless her heart, is going to be a critical piece in my argument against social security.  You see, a Ponzi scheme is basically a scheme where the very first investors make a very high return on their investment, and those who get in last lose all of their money (while their money goes to making the initial investors even more money).  Ms. Fuller is not a bad person, she just happens to be caught on the wrong side of history, thanks to an easy-to-pass, but impossible-to-manage piece of legislation:  Social Security.

To help make my point, let’s look at Ms. Fuller’s return on investment:

Ida Mae Fuller paid a total of $44 into the Social Security program, yet she received $20,993 in benefits.  That is a fantastic 47,475% return!

Personally, I will pay over $500,000 into Social Security, and I will never see a dime in benefits…

The Social Security Administration believes that the funds will run out in 2033, or 20 years from now.  I am a successful Gen Y business person.  Even if I forget about what I have paid up until today, I will pay over $500,000 in Social Security taxes (including my employer’s contributions on my behalf) over the next 20 years, before Social Security goes belly-up.  If I had enjoyed Ms. Fuller’s rate of return, I would receive approximately $238 Million in Social Security benefits…But, since Social Security is an enormous Ponzi Scheme, I will receive no money at all…Zero dollars.

The Government introduced Social Security just 13 years after Charles Ponzi was convicted for the largest Ponzi Scheme that the government had ever seen (prior to Bernie Madoff’s scheme in 2008).  Evidently, they had learned enough from Mr. Ponzi, that they thought they could continue getting elected in the short-term by introducing a Ponzi Scheme into National Politics.  The Democrats held the White House for an unprecedented 20-year span from 1932 – 1952.  No party had held the White House that long since 1827, and no party has held the White House longer than that run since then…so, apparently this Ponzi Scheme worked…

The biggest shame of all, is that people have known that this piece of legislation was flawed for years and have done nothing about it.  President Clinton investigated significant Social Security reform in the 90’s, which would have given individuals private accounts for their money to be saved in.  President Bush offered similar ideas, and pushed hard for their passage.  President Obama has offered no new ideas, and has taken entitlement program reform off of the table for all of the recent budget negotiations.

Apparently, since he won’t be president in 2033, this problem doesn’t need fixing…

Back to the point…The very first “investors” in Social Security made a 47,475% return…But, I will waste $500,000 on a program which will never pay me a dime…

How is this not a Ponzi Scheme?

Why aren’t there marches on Washington on this issue?

How is this not the #1 issue for Gen Y at the Ballot Box every year?

Attention Gen Y

Until we band together on this issue, we will never be heard.

Until we demand an answer, politicians will continue to avoid the third rail of politics.

Until we pool our votes together, we will never be powerful enough to force a policy change

What Should We Do Now?

Share this story on Social Media, talk about it at the dinner table, and be passionate about the issue!

Send a letter to your representative, tell them you will never vote for them again unless they fix the issue!

Demand a candidate with ideas, demand a candidate with answers, DEMAND A SOLUTION…NOW!

ObamaCare – 5 Biggest Lies Told To Pass This Law, and to Reelect The President


Official photographic portrait of US President...

Official photographic portrait of US President Barack Obama (born 4 August 1961; assumed office 20 January 2009) (Photo credit: Wikipedia)

The Affordable Care Act, or ObamaCare, will turn out to be one of the most controversial laws in the history of the United States.  President Obama managed to win a second term based on all of the promises made surrounding ObamaCare, and those promises are rapidly being broken before the law is even fully-implemented.

Here are the five biggest lies that the President told in order to get this law passed, and in order to get reelected:

“If you like your insurance, you can keep it.”

15 million people have lost their insurance.  But, that is not even the biggest part of this lie.  It is estimated that over 100 million people will have their current policies altered by their employers due to ObamaCare changes, which means almost no one gets to keep the insurance that they liked just fine before.

“Let’s be clear, we’re not going to delay the Affordable Care Act”

This was a quote from hours before the government shutdown, for which the Republicans were widely blamed.  A few weeks later, the ObamaCare rollout had gone so badly that Obama reversed course.  It turns out that the Republicans were right, and it was Obama who could have avoided the Government Shutdown, not the other way around.

“Anyone making under $45,960 will qualify for an upfront tax subsidy.”

Anyone making under 4 times the poverty level was supposed to get an upfront tax subsidy.  CNN reports that in the largest cities in nearly every state, many people will not qualify for the subsidy.  For example, a person living in Chicago making $27,400 will not qualify for a subsidy.  A person in Nashville making $25,500 will also not qualify for a subsidy.  Some lies are small, this one is a pretty big one.

“I will not sign a plan that adds a dime to our deficits.”

Obama’s original promise was that the plan would cost $900M over ten years, and the savings would just barely cover those costs, so the plan was breakeven.  Since then, the estimated cost of the plan has ballooned to $2.6 Trillion.  Unfortunately, the revenue has not gone up, so there is no way that this law does not significantly add to the national debt.

“Under my plan, no family making less than $250,000 per year will see any form of tax increase.”

The only reason that the Democrats avoided a filibuster was by using a process called reconciliation, which is specifically only used for budget bills.  There are tons of taxes, and fees, built into ObamaCare.  Examples include the medical device tax, the mandate tax, and harsher penalties on Health Savings Account withdrawals, among others.

President Obama has NOT created 4.5 Million new jobs – Get The Facts Here!


English: Barack Obama delivers a speech at the...

English: Barack Obama delivers a speech at the University of Southern California (Video of the speech) (Photo credit: Wikipedia)

The news coming out of the Democratic National convention, as usual, made me a little sick to my stomach.  I always try to just tune out for a week, and not get too worked up, because both parties get a little inflammatory during convention time and tend to start exaggerating.  The only claim that irked me enough to write an article about is this claim that President Obama has created 4.5 Million jobs.  Hours after the claim emerged, a claim which was repeated in convention speeches by Julian Castro, Deval Patrick, and Rahm Emanuel, dozens of fact-checking organizations had already refuted the claim.  Why?  Because it is a flat-out lie.  Here are the facts:

President Obama’s Starting Figure:  133.6 Million Jobs

Current Figure:  133.2 Million Jobs

Change:  LOSS of 0.4 Million Jobs

Fact:  The Unemployment rate was approximately 7.8% when President Obama took office and now it is over 8%.

In order to hit the 4.5 Million figure, Democrats are doing multiple unethical things all at once (not entirely unusual).

First, they are only counting private sector jobs, because apparently the 20+ million people who work in jobs labeled as “Public Sector” don’t matter…

Second, using that incorrect measure, they are still only counting the lowest figure during Obama’s Presidency as the starting point (January 2010), because apparently President Obama denies responsibility for the entire first year of his presidency (don’t you wish we all could deny responsibility for the whole first year when we start a new job because everything was the old guy’s fault?)

Here are the facts:  President Obama has created 4.5 Million new private sector jobs since January 2010.  Why didn’t they just say that rather than lying about his record?  Because they were on national television…and they wanted to mislead the public.  It is the strategy that almost every politician employs during debates, since they know people are watching and no one will read the fact-check stories later.

The bottom line is that the unemployment rate is higher than the day he took office.  His own Chairman of the Council of Economic Advisors promised that unemployment would never reach 8%…It has been 8% for around two years and is still over 8% today.

Conclusion:  His Numbers Are Wrong….His Promises Were Broken…The Dems should stop lying on National TV.

Go ahead and run on the economy if you all want to….You will lose!

 

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