As we’ve seen, Social Security hurts the poor and, instead, should have made us a Nation of Millionaires.
But WAIT!! There’s MORE.
A general impression among The People is that the money withheld FROM THEM is held FOR THEM in a Trust Fund.
They are wrong.
The Trust Fund exists. But NO ONE has ANY claim to ANY of the money withheld from their paychecks. Those funds can be (and are) redistributed in any way the government may choose.
One simple, unalterable, undeniable, fact illustrates this quite clearly.
Assume that our minimum wage couple planned a trip celebrating their retirement. Their children are grown and are no longer dependents. The couple has not received their first Social Security checks.
Tragically, the couple die in a solo car accident on the first day of their retirement trip.
Who receives the $506,000 that the couple would have received from Social Security if they lived to eighty-six? Indeed, who receives the more than $130,000 that was withheld from this couple? Surely their children will AT LEAST get back what was withheld from their parents?
No.
The federal government keeps ALL of the money. There is absolutely NO benefit to the couple’s grown children or other chosen heirs. The money confiscated from them is gone, completely and irretrievably gone.
How does this socialist program benefit the poor?
-
-
-
- The payroll withholding is MASSIVELY REGRESSIVE.
- The poor have NO ownership of the funds withheld from them “For Their Benefit”.
- The rate of return provided by the Socialist program is far below that provided by a privatized (real) solution.
- The privatized solution pays 18% MORE than the socialist “solution”.
-
-
And The Founders Weep
#TheFoundersWeep
#SocialismHurtsThePoor
#SocialSecurityHurtsThePoor
#PayrollTaxesAreRegressive