Imagine, if you can, that there is no Social Security system. That’s right, FDR’s effort to enact Social Security as part of the New Deal failed. Maybe some bright politician took to floor and said, “Look this will never work. The primary reason that it will never work is that politicians like us will not be able to leave our grubby mitts off of the money. The next reason it won’t work is, because we can’t keep our hands off the people’s money, we’re going to have to take what right now is an insignificant sum of money - 2% - from about 42 workers to pay one retiree. By 1950 we’ll be taking 3% from 16 workers for every retiree. By 1993 we’ll be at 12.4% from 4 workers for every retiree. By 2070 there will only be 2 workers for every retiree. Somewhere along the way people are going to figure out that we have looted their accounts to fund our pet projects. And they will despise all politicians for generations.”
So there never was any Social Security and we still love politicians. Now in 2005 the Democrats are proposing Social Security as means to recover their lost greatness. Ted Kennedy waddles to the well of the Senate to outline the Democrat plan. What he and the Democrats propose is that every American be forced to sell AmWay products for their retirement. That’s right we all have to sell soap to our bridge club, friends and family. But the real money comes in when we recruit five others to sell the soap for us. And they recruit five. And they recruit five and so on. Every dime raised in the giant forced Ponzi scheme goes into the general fund so that Kennedy and others can fund the next Piss Christ, Big Dig or other government wasteful boondoggle.
This sounds far fetched, but except for AmWay that is exactly what we have today. We have a giant forced Ponzi scheme. And the reason that it’s a Ponzi scheme is that politicians have not been able to keep their mitts off of the Social Security money. Social Security has been such a successful rip-off that Mr. Ponzi would surely admit that the government under the authority of law has so far out done anything he could have possibly imagine and that these schemes should now be called Social Security schemes. As in, Mr. Ponzi was arrested for running a Social Security scheme out of the corner liquor store.
The president wants to get out of the current Ponzi debacle by allowing a small voluntary investment into individual accounts. Ponzi, Kennedy and other are howling at the thought of us controlling the money that they have proven they can’t keep their hands off of. They are reeling at the thought of a spouse or loved one getting our money if we die before retirement - instead of the government. They cannot bear the thought of Americans being responsible in some small way for themselves. While Ponzi, Kennedy and the libs search the Capitol Hill ladies rooms for fainting couchs, remember it’s your money; it’s 1% and it’s voluntary.
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