Post #276,203
12/20/06 8:46:49 AM
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ROFL
Funny - the financial transaction that takes money from my paycheck is quite real.
And it IS 'insurance', not tax - at least until they rename it, and change it's nature, and steal from the (at least some of) people who contributed (nothing new, after all). As such, it must be funded.
Further, the notes against the SS fund certainly ARE 'promissory' - even if Prez Bush denigrates the US government's willingness to honor it's debts.
Imric's Tips for Living
- Paranoia Is a Survival Trait
- Pessimists are never disappointed - but sometimes, if they are very lucky, they can be pleasantly surprised...
- Even though everyone is out to get you, it doesn't matter unless you let them win.
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Nothing is as simple as it seems in the beginning,
As hopeless as it seems in the middle,
Or as finished as it seems in the end.
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Post #276,207
12/20/06 9:45:18 AM
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the money coming from your check pays current receiptients
the whole thing is a ponzi scheme not an Insurance policy.
thanx,
bill
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 51 years. meep
reach me at [link|mailto:bill.oxley@cox.net|mailto:bill.oxley@cox.net]
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Post #276,209
12/20/06 10:00:45 AM
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You're both feeling different parts of the elephant.
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Post #276,255
12/20/06 8:38:07 PM
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I get confused at how the money goes round and round.
Sometimes it seems to go round so fast that it's in several places at once. I think I read somewhere that, with all the loans and credit lines that exist, each dollar is, on average, technically in eight places at once!
Wade.
"Don't give up!"
[link|http://staticsan.livejournal.com/|blog] · [link|http://yceran.org/|website]
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Post #276,212
12/20/06 11:15:34 AM
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Heh. And the SS 'scheme'
excludes banks (who gamble with savings on the hope they can eventually make enough to pay you what you pay in with interest) and insurance (here you gamble against yourself in the hope that you lose - while the insurance companies take your money, pay off claims, and gamble with the rest in the hopes that they have enough to pay off future claims) how?
'Ponzi' takes money from multiple people and DOES allow them to withdraw some as needed, while using the rest. Sounds like banks and insurance to me, without the incentive to gamble the money for the purpose of paying back the 'clients'.
The SS scheme is 'investing' the money - in the US government. It was the Prez that implied that the government wouldn't pay it back. Now - is the investment sufficient? Not likely. Until you call SS an official tax you can't refuse to pay people AT LEAST the money they paid in + interest, though. When that happens, watch for 'government retirement communities' based on Section 8 housing... Unfortunately, it's probably the future.
Imric's Tips for Living
- Paranoia Is a Survival Trait
- Pessimists are never disappointed - but sometimes, if they are very lucky, they can be pleasantly surprised...
- Even though everyone is out to get you, it doesn't matter unless you let them win.
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Nothing is as simple as it seems in the beginning,
As hopeless as it seems in the middle,
Or as finished as it seems in the end.
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Post #276,213
12/20/06 11:24:41 AM
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ponzi takes money from many to pay few
its a pyramid scheme. Current payroll taxes fund current social security receiptients. Point me to the US code that sez that money is yours held in trust by the US government to be repaid with interest later. If there was you would receive bonds in the mail annually. You dont. Its a social construct not a contract.
thanx,
bill
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 51 years. meep
reach me at [link|mailto:bill.oxley@cox.net|mailto:bill.oxley@cox.net]
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Post #276,216
12/20/06 12:03:49 PM
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ROFL - of course it's not a contract.
Any more than taxes are.
The fact remains that is NOT a simple tax.
It IS independent of tax revenue.
It IS a fund.
It DOES invest (in the government) to grow the fund.
It is no more a Ponzi than a bank or an insurance company; unfortunately (or fortunately, given levels of federal corruption), the SSA is limited in how they can invest. These limits limit their profitability. Benefits are calculated (unlike benefits gained through taxation) against what you have personally contributed*.
*there is a lower limit to SSI 'credits'; this does not apply to most recipients
Imric's Tips for Living
- Paranoia Is a Survival Trait
- Pessimists are never disappointed - but sometimes, if they are very lucky, they can be pleasantly surprised...
- Even though everyone is out to get you, it doesn't matter unless you let them win.
| |
Nothing is as simple as it seems in the beginning,
As hopeless as it seems in the middle,
Or as finished as it seems in the end.
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Post #276,225
12/20/06 4:06:48 PM
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?
...is a ponzi scheme not an Insurance policy.
Care to explain the difference between the two? Oops, wait. I get it. An insurance policy is simple theft. Only its theft mandated by the government.
bcnu,
Mikem
It would seem, therefore, that the three human impulses embodied in religion are fear, conceit, and hatred. The purpose of religion, one might say, is to give an air of respectibility to these passions. -- Bertrand Russell
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Post #276,227
12/20/06 4:14:12 PM
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ROFL - nah - the gummint
would not be as arbitrary as an insurance company. (frightening thought, eh?)
Now - I'm working for an insurance company right now - and it's the first one I've worked for in 20 years that doesn't make me feel dirty to work for... But they cover niche markets and they are a rarity in the industry...
Imric's Tips for Living
- Paranoia Is a Survival Trait
- Pessimists are never disappointed - but sometimes, if they are very lucky, they can be pleasantly surprised...
- Even though everyone is out to get you, it doesn't matter unless you let them win.
| |
Nothing is as simple as it seems in the beginning,
As hopeless as it seems in the middle,
Or as finished as it seems in the end.
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