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Badtux the Snarky PenguinIn a time of chimpanzees, I was a penguin. Religious fundamentalists are motivated by the sneaking suspicion that someone, somewhere, is having fun -- and that this must be stopped. |
Tuesday, August 07, 2007Social Security is going bankrupt!Uhm, no. Social Security is not going to go tits up. Without tax hikes or sale of lots of Treasuries on the open market to pay back the bonds in the Social Security trust fund it’s not going to be able to pay all the promised benefits, but frankly even the 60% of the promised benefits that it will be able to pay worst case is more than enough for me to live on in retirement (granted, I qualify for the maximum benefit due to years of six-figure salaries and have modest needs for retirement income since I own my retirement property clear and outright and it’s in a state with no property tax on most residential property and thus need money only for utilities and maintenance, but even folks with more modest income will still get a good shake from Social Security).Medicare is not going to go tits up either. Before the Baby Boomers allow Medicare to go tits up, they’re going to mandate it as the single payer health care insurer for America, and thus use payroll taxes on the young to pay for their retirement health care. On average the typical person will be paying less for Medicare than they currently pay for private insurance even with the subsidy of the prunes so it’s a win-win all the way, nevermind that the health insurance companies hate the idea (duh, they’d be like buggy whip makers in 1928 after the automobile had displaced horse and buggy nationwide!). So it’s going to happen. If you work in the health insurance business, I suggest that you do like the buggy whip makers and get another job, yours is going to get obsolete as soon as the boomers realize they need young farts to subsidize their Medicare and that the only way they’re going to get that without a revolution is to extend Medicare to all. In short, whining about how Social Security is a "scam" and that there is a Social Security "crisis" is bullcrapola. Just typical scare tactics by people who know only the bullshit talking points handed down to them by their Party commissars on Faux News and Talk Radio… – Badtux the Party Penguin Labels: Republican stupidity Posted by: BadTux / 8/07/2007 06:23:00 PMComments:How reassuring...thank you.# posted by sumo : 7/8/07 10:25 PM
Ever since they started screwing with it in the '70s, I've made a point to not count on it. So it will be like a bonus.
but, but, i make FINE BUGGY WHIPS! consarn autoMObiles. . .
If it lasts for as long as I need it that is all I care about. The rest of you are on your own. LOL |
About Me
I am a black and white and yellow multicolored penguin making his way as best he can in a world of monochromic monkeys. ArchivesApril 2004 / December 2004 / January 2005 / February 2005 / March 2005 / April 2005 / May 2005 / June 2005 / July 2005 / August 2005 / September 2005 / October 2005 / November 2005 / December 2005 / January 2006 / February 2006 / March 2006 / April 2006 / May 2006 / June 2006 / July 2006 / August 2006 / September 2006 / October 2006 / November 2006 / December 2006 / January 2007 / February 2007 / March 2007 / April 2007 / May 2007 / June 2007 / July 2007 / August 2007 /
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"Keep fighting for freedom and justice, beloveds, but don't forget to have fun doin' it. Lord, let your laughter ring forth. Be outrageous, ridicule the fraidy-cats, rejoice in all the oddities that freedom can produce." -- Molly Ivins, 1944-2007
"The penalty good men pay for indifference to public affairs is to be ruled by evil men."
-- Plato
Are you a spammer? Then send mail to my spamtrack mailbox to get permenantly banned! Remember, that's iamstupid@badtux.org (hehehhe!).
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