If the first paragraph is true, which it mostly is, why would anyone with more than three brain cells choose to leave their savings with the government?
Because it's more reliable than putting it in the volatile stock market. Ask a lot of seniors who found their way back to the employment lines when their IRA's crashed in 2000 and 2008.
I don't get the demonization of the term "entitlement." While one definition is "a government program providing benefits to members of a specified group" the definition which precedes that in the dictionary is "a right to benefits specified especially by law or contract."
Social Security is a contract with the SS agency that I will pay into a trust fund for all of my working life and in return I will receive a return of those funds after retirement. By contract I am "entitled" to that repayment. It is, in fact, an "entitlement" and I cannot understand why we allow the other side to turn that into a dirty word.
We should be calling them out for illogical and spurious argument and saying that entitlements are not bad things instead of getting all defensive and saying that SS is not an entitlement. Entitlements are commitments made by our government, a form of government debt that must be honored; no less so than Treasury Bonds.
Why do we let our opponents not only define the battle for us but even let them define what words mean?
Jayhawk & Larry, I have bad news for you. There is no fund. What you have done is give your money to the government (of both parties) which has spent it. It is now busy borrowing as much as it can to meet the promises it made to you. The last person to try that was Mr. Bernard Madoff currently residing in the Federal Correctional Institution, Butner Medium. Like all Ponzi schemes, the one run by your government (and mine) will only last as long as the money-lenders stump up. Of course, they can try and print more and more of the stuff themselves, as they have already done, but all that does is make money cheaper and cheaper until it is worthless.
'Never give a sucker an even break' is a very wise American saying!
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If the first paragraph is true, which it mostly is, why would anyone with more than three brain cells choose to leave their savings with the government?
ReplyDeleteBecause it's more reliable than putting it in the volatile stock market. Ask a lot of seniors who found their way back to the employment lines when their IRA's crashed in 2000 and 2008.
DeleteI don't get the demonization of the term "entitlement." While one definition is "a government program providing benefits to members of a specified group" the definition which precedes that in the dictionary is "a right to benefits specified especially by law or contract."
ReplyDeleteSocial Security is a contract with the SS agency that I will pay into a trust fund for all of my working life and in return I will receive a return of those funds after retirement. By contract I am "entitled" to that repayment. It is, in fact, an "entitlement" and I cannot understand why we allow the other side to turn that into a dirty word.
We should be calling them out for illogical and spurious argument and saying that entitlements are not bad things instead of getting all defensive and saying that SS is not an entitlement. Entitlements are commitments made by our government, a form of government debt that must be honored; no less so than Treasury Bonds.
Why do we let our opponents not only define the battle for us but even let them define what words mean?
Jayhawk & Larry, I have bad news for you. There is no fund. What you have done is give your money to the government (of both parties) which has spent it. It is now busy borrowing as much as it can to meet the promises it made to you. The last person to try that was Mr. Bernard Madoff currently residing in the Federal Correctional Institution, Butner Medium. Like all Ponzi schemes, the one run by your government (and mine) will only last as long as the money-lenders stump up. Of course, they can try and print more and more of the stuff themselves, as they have already done, but all that does is make money cheaper and cheaper until it is worthless.
ReplyDelete'Never give a sucker an even break' is a very wise American saying!