About This Blog
The nation is being overwhelmed by liars. Not the kind of liars who lie about sexual encounters to avoid embarrassment, but instead the slimy type of liars who lie in order to feather there own nests.
Let's take yesterday's release of a new Social Security Trust Fund report. The report concluded that the Trust Fund would be depleted by 2033, some 21 years away. If nothing whatsoever is done to change Social Security by 2033, then after 2033 recipients would receive approximately 75% of promised benefits.....a monthly amount (including cost of living adjustments) which would exceed today's average monthly Social Security checks.
The one revealing part of the trustees report is how they arrived at their conclusions.
The trustees who oversee both programs say high energy prices are suppressing workers’ wages, a trend they see continuing. They also expect people to work fewer hours than previously projected, even after the economy recovers. Both trends would lead to lower payroll tax receipts, which support both programs.
The trustees use their own arbitrarily chosen telescope to predict the future. Future workers wages will be "suppressed" by high energy costs, people will work fewer hours even after the recession is over. Or, you know, maybe not. That's why it's called arbitrary.
So, nothing new really. Looking past the arbitrary doom and gloom for a second, Social Security is still good for 21 years and even after that, if nothing ever changed, could still pay out 75% of benefits after 2033.
The lying is seen in how media and the usual suspects are portraying the SS report. For only one example out of many, the Beacon's morning reprint of an AP account of the Trust Fund report is entitled "Social Security heading for insolvency even faster." That title is false. Not just misleading....false. That title is not only a lie but a flagrant lie...one done purposely. I'll explain why in a minute.
Insolvency is another word for bankrupt. Go look it up for yourselves. Insolvency means "the condition of being insolvent; bankruptcy."
Social Security will never go bankrupt....ever. Social Security has it's own revenue stream from payroll taxes. For Social Security to go bankrupt, payroll taxes would either have to drop to zero, or be ended completely. But Social Security is good to go, paying out full benefits including cost of living adjustments along the way....for 21 years into the future.
The headlines still blink red with "insolvency." After those 21 years are over.....and assuming NOTHING is done between now and then to strengthen Social Security....even then, SS recipients will still continue to receive 75% of their promised benefits. And STILL, the headlines blare "insolvency", "bankruptcy."
How in the hell can what I have just explained be considered bankruptcy? Insolvency? If that's insolvency, we should all hope for it.
So why the lying about Social Security?
Two primary reasons:
As we know form the previous administration, Republicans, the political arm of the wealthiest 1% of Americans, want to privatize Social Security. Even though Schrub got his fingers burned in 2005 for promoting a partial privatization of SS, the Republican Party position is still the same. The Wall Street owners of America want those billions in the yearly Social Security revenue stream to pass through their greedy and larcenous hands. Why? So they can skim some of that revenue stream for themselves. That's why.
Oh sure, proponents of this skimming operation will tell you that if the stock market can just be allowed to handle all of our Social Security monies, then all seniors will have more than they would on conventional SS. Anyone who witnessed the Dot.com, Enron, WorldCom blowups....or the mortgage meltdown....should realize that passing Social Security funds through Wall Street is a fool's errand.....but the Serious establishment players and their lapdog media appendages take Americans for fools. Anyone willing to risk their future retirement by giving it to Wall Street skimmers and thieves who have proven beyond any doubt that they are untrustworthy....needs their heads examined.
The second reason for lying about Social Security is, I think, even more despicable. In this false scenario, advocates would increase the age requirement for SS to 69-70....and cut benefits as well by indexing the cost of living adjustment differently.This is often touted by centrist Villagers as the "middle ground." The bipartisan solution.
But consider what the liars are telling us. They are saying that SS is insolvent and that future retirees will have their benefits reduced after 2033. And their plan to fix this problem? Cut benefits for current and future retirees right now to avoid having to face those reduced benefits in the future. It's a con game....being sold by liars. Paid to lie.
But why would they lie? Aren't those centrist Villagers only looking out for the interests of the elderly?
No. They're only looking out for the powerful and the wealthy. If you doubt that, simply review last year's hostage taking situations Republicans advanced over increasing taxes on the top .1%. Republicans were willing to shut down all government and suffer a bond rating clip to protect a mere handful of very wealthy Americans from even a slight tax increase.
If entitlements are honored, the wealthy and powerful realize that their taxes cannot be lowered anymore than they already are. In fact, if entitlements are honored, taxes on the wealthy will definitely have to be increased to help deal with deficits and debt. Yet, the Romney-Ryan plan is to lower taxes on the wealthy by another third....from 35% down to 25-28%....and to do so by economically punishing seniors on Medicare, students looking for college loans, and poor children and families in need of Medicaid.
And so they lie.....