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From: bknight on 3 Dec 2009 21:25 On Thu, 03 Dec 2009 21:23:15 -0500, Jack Hollis <xsleeper(a)aol.com> wrote: >On Thu, 3 Dec 2009 06:40:58 GMT, assimilate(a)borg.org wrote: > >>On 2-Dec-2009, Jack Hollis <xsleeper(a)aol.com> wrote: >> >>> That's all true. >>> >>> However, Social Security is a law passed by Congress and, as such, it >>> is a legal obligation taken on by the government. >> >>and as such it can be changed by Congress; and if they had to rely on it, >>boy would it get fixed quickly! >> >>-- >>bill-o > >Congress can change laws but the people can change Congress. Rarely does either do either. BK
From: Jack Hollis on 3 Dec 2009 21:25 On Thu, 3 Dec 2009 06:47:23 -0800 (PST), Dinosaur_Sr <frostback2002(a)att.net> wrote: >> The fact that the government decided to spend all the SS and Medicare >> Trust Fund money does not mean that the people who paid into the >> system are any less deserving of their benefits. =A0And, in addition, >> the fact that you're rich also doesn't mean that you don't deserve >> your benefits. =A0If the government starts means testing SS and Medicare >> then it will become a welfare program. > >I suppose so, but that definitely doesn't obligate others to make up >for your bad investment. If it was my bad investment, I wouldn't complain, but I didn't have any choice.
From: Jack Hollis on 3 Dec 2009 21:31 On Thu, 3 Dec 2009 06:48:05 -0800 (PST), Dinosaur_Sr <frostback2002(a)att.net> wrote: >> You are correctly making the point that SS is an annuity with very bad >> terms. > >If SS were an annuity, the people in the govt who mange(d) it would be >in jail. From the SSA FAQ page: "By law, income to the trust funds must be invested, on a daily basis, in securities guaranteed as to both principal and interest by the Federal government. All securities held by the trust funds are "special issues" of the United States Treasury." I call that a license to steal.
From: Jack Hollis on 3 Dec 2009 21:39 On Thu, 3 Dec 2009 06:54:37 -0800 (PST), Dinosaur_Sr <frostback2002(a)att.net> wrote: >> However, Social Security is a law passed by Congress and, as such, it >> is a legal obligation taken on by the government. > >No problem. The govt can pay you from the money in the trust funds. They will have to do that starting in 2014. That is assuming that anyone is willing to buy US Treasuries by then.
From: Dinosaur_Sr on 4 Dec 2009 10:16
On Dec 3, 8:39 pm, Jack Hollis <xslee...(a)aol.com> wrote: > On Thu, 3 Dec 2009 06:54:37 -0800 (PST), Dinosaur_Sr > > <frostback2...(a)att.net> wrote: > >> However, Social Security is a law passed by Congress and, as such, it > >> is a legal obligation taken on by the government. > > >No problem. The govt can pay you from the money in the trust funds. > > They will have to do that starting in 2014. That is assuming that > anyone is willing to buy US Treasuries by then. No doubt they will pass a law requiring everyone to buy them..for the sake of the state! |