lpnmajor Loc: Arkansas

If they privatize it, they'll write off the debt the treasury owes to the trust fund. Then, whoever gets the contract, will assess fees, paid by retirees, so that, instead of the Congress stealing our money - Wall Street will.

okie don

The Act of 1871 change the REPUBLIC to a CORPORATION .
FACT!
Check Dun & Bradstreet

Oakisland4U

IRS rake in over 6 trillion dollars from Oct 1, 2014 to Oct 1, 2015 from all taxes , FATIC , from 50 States and still taken money out of SS Account .

PeterS

"Ronald Reagan and The Great Social Security Heist"
http://www.fedsmith.com/2013/10/11/ronald-reagan-and-the-great-social-security-heist/

All these changes were made under Ronald Reagan. You are blaming the wrong people....

okie don

The thing that pisses me JMHO is They raise taxes but don't have a budget.

So, there's no basis for reaping more off us sheeple here on the Khazarian Mafia aka Rothschield's plantation.

Makes one feel like a true monitary slave!

astrolite

I think I understand............I have the same problem with my hoard! I gave up, if I spent all of my time polishing my brass, and updating my nestegg, I would never get anything done! And of course I just can't resist a sale...........Another thousand for $150..........ship it tomorrow! This sunday my family and my extended family will use most of that! Cheaper than silver and endorsed by chairman Mao!

CounterRevolutionary

PeterS, actually, if our benefits had been invested in the market, be it stocks, bonds, or better - assets, we would be retiring multi millionaires on 15% of our salaries being put aside into private accounts.

The argument that our "banks" are bankrupt is due to the corruption of government, not the private sector. The housing market collapse is primarily accountable to two government banks, not Wall Street:
the Federal Reserve Bank
the Federal Housing Authority Bank

Yes, Bank of America and Washington Mutual share in some of the blame, but lending regulations, such as the Community Reinvestment Act, were forced upon bankers with the reassurance that Fannie and Freddie would back them up these risky mortgages.

In fact, President Obama, as a young community organizer lawyer, made his name shaking down the "Big Bad Banks" if they did not comply with the Community Reinvestment Act quotas.

It is estimated that Fannie and Freddie traded these bad mortgages on Wall Street, money laundering some $3 - $5 trillion through the FHA Banks annually. Read Gretchen Morgenson's book "Reckless Endangerment" for the details.

America was not alone, the entire world was in on this, and the entire world market has collapsed. None dare call it treason. Both the FHA Bank and Federal Reserve Bank should be shut down - forever.

CounterRevolutionary

Privatization will most likely happen in increments, allowing current seniors to keep their traditional SS accounts while young people will be given a choice in partially investing in the market. Chile did this 30 years ago and was quite successful. Most of the Chilean people's benefits were invested in assets, (far more stable than the traditional stock market).

The Chilean government in 1980 sold off its land to reimburse the bankrupt "trust fund." Keep in mind that our federal government - the Bureau of Land Management, now owns 50% of all US land and could easily sell off this land or return it to the states to expand the tax base and recoup more tax revenue.

Ah, but the current government is socialist and will not give up the land? It is due to the States under the Northwest Ordinance "equal footing clause."

CounterRevolutionary

Oh, please! Don't blame the piddly little Rothschild family, they are a small pawn in the scheme of our now nationalized Federal Reserve Bank. The biggest boys were the Harrimans, Brown Brothers, Chases and Rockefellers.

Don't swallow the socialists' twisted history on Jewish banking, since Garry Allen exposed: "Wall Street and the Bolshevik Revolution," driven by the American Christian bankers and Kaiser Wilhelm, although no one could hardly envision these bankers as men of faith.

Lordy, I wish the socialist in Obama's justice department would stop pushing this "lets trap the conservatives" with this stupid propaganda game on blaming the Jews. this reads like some sort of prank from the SPLC.

CounterRevolutionary

That year, Ronald Reagan cut income taxes and Senate Protemp, Tip O'Neal with Minority Leader Bod Dole crafted that SS deal. The Democrats held a supermajority and it passed, regardless of Reagan's veto. You must be a very young man.

CounterRevolutionary

Thanks for explaining the SSI shortfall. Yes, it has been suggested that this welfare plan will be bankrupt by 2016. It is curious, that several years ago, HHS kept calling my home suggesting that I sign up for SSI, instead of regular Social Security, because I could collect more money. They called over and over again, and my response remained the same: "I don't need it, I am not handicapped. Keep it for the people who truly need the help."

This leaves me wondering how many people on SSI are truly needy people. Some are, of course, but what are the statistics of fraud, advocated by idiots in HHS?

UncleJesse Loc: Hazzard Co, GA

Only a politician can get away with lies as a "political belief" despite facts. There was no raid of social security.

PeterS

He opened with this statement in January:

"Speaker of the House O'Neill, Majority Leader Baker, and I have today received from the commission on social security a "Recommended Bi-Partisan Solution to the Social Security Problem" (summary attached).

This bipartisan solution would solve the social security problem defined by the Commission. It is my understanding that the Speaker and the majority leader find this bipartisan solution acceptable.

Each of us recognizes that this is a compromise solution. As such, it includes elements which each of us could not support if they were not part of a bipartisan compromise. However, in the interest of solving the social security problem promptly, equitably, and on a bipartisan basis, we have agreed to support and work for this bipartisan solution.

I look forward to the Congress beginning consideration of this package through hearings before the House Ways and Means Committee on February 1. I believe the American people will welcome this demonstration of bipartisan cooperation in offering a solution that can keep a fundamental cooperative and responsible manner in trust, while solving a fundamental national problem.

I wish to thank the members of the Commission, and especially Chairman Greenspan, for their tireless effort and for the cooperative and responsible manner in which they have met a most difficult challenge."

He followed with this statement in March after the legislation passed:

"I want to take this opportunity to express my admiration--and the gratitude of the American people--for the responsible, bipartisan spirit the House of Representatives has demonstrated in its prompt passage of the bipartisan plan to save the social security system. I am particularly glad to have had the chance this afternoon to personally thank six leaders who played special roles in making this possible: Speaker of the House Tip O'Neill, Minority Leader Bob Michel, Ways and Means Chairman Dan Rostenkowski, the senior minority member of the committee, Barber Conable, Chairman Jake Pickle of the Subcommittee on Social Security, and, of course, Representative Claude Pepper.

In the months leading up to this critical vote--and again over the past 24 hours-- we've seen men and women of both parties and many shades of opinion set aside their differences and join together for the good of the country. The result has been a new lease on life for one of our most basic government programs, social security--a program that, directly or indirectly, affects the present and future well-being of every man woman, and child in America, and generations yet unborn.

Over long months of study, debate, and deliberation--and in close cooperation with the executive branch--a fair, workable plan to save the system was hammered out by the National Commission on Social Security Reform. All of us had to make some compromises and settle for less than what any one faction might consider ideal. But we did it, and, as Speaker O'Neill promised, the House of Representatives has acted promptly and responsibly to pass the resulting bipartisan plan.

That is an achievement we can all take heart from. And I hope and believe it reflects a bipartisan spirit of putting people before party that will guide us all in meeting other national challenges in the days ahead.

Meanwhile, I look forward to prompt action in the Senate on the social security plan--and I look forward to a signing ceremony in the very near future."

The commission's he referenced was the President Reagan charged the National Commission on Social Security Reform, chaired by Alan Greenspan. HE set up to address problems faced in Social Security. Reagan didn't veto the legislation because it was HIS legislation. You seem to have forgotten but in those days addressing problems this country faced was more important than ideological grandstanding. If Reagan was around today both he and Dole would have been drummed out of the Republican party for being RINO's.

And then I was a young man, today not so...

lpnmajor Loc: Arkansas

Perhaps the first "bipartisan" action for the Congress to take, would be the admission that the Congress itself created the "social security problem", not the recipients. Had the Congress left the trust fund alone and allowed it to operate as intended, there would be no problem now.

Constantly raiding the trust fund, counting SS withholdings as Federal income, then showing SS payments as Federal expenditures, has given the impression that the SS security program is a draining on the economy. The program was set up as an annuity insurance program and had SS withholdings ( annuity payments ) kept up with inflation, there'd be no problem now either. One of the recent Presidents reduced the amount of withholdings, to "put more money in Americans pockets", as a political stunt.

The Congress, past and present, created the problems with Social Security in the first place, then blame baby boomers for the "drain" on the system, tried to "fix" the problems periodically, in a manner designed to gain partisan support at election/re-election time - and predictably - made the problems worse. Any way they slice it, they will have to stop stealing SS withholdings and treating it as income and return the SS system to the annuity is was meant to be, audit the trust fund to determine exactly how much the treasury owes it, begin making payments on the "loans" from the trust fund - and reduce or eliminate waste, fraud and abuse of the SS program.

astrolite

I have been told that SSI is being used to fund the millions of muslims being imported by this administration!