Social Security

I subscribe to Franklin Sanders’s daily e-mail which I told you about in a previous blog titled “The Agrarian Moneychanger” (the subscription is free). Mr Sanders had an interesting tidbit in today’s report about Social Security. Here’s what he says:

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“On this day in 1940 the Social Security  Program paid out its first monthly  retirement check to Ida May Fuller of Vermont, for $22.54. (worth  $299.94 in 2005-dollars).  SS was  established in 1935, & Ida  May had worked 3 years under the program and paid in total $24.75  in taxes during those 3 years. 

Whoops!  Something went  wrong with  this grand government scheme. Ida May  lived to be 100 years old, collecting  $22,888 in social security benefits.   That points out  that social security is a Ponzi-style pyramid scheme, and not anything  else, a scam.  If you tried to run it instead of the government, they  would find you an apartment in the crossbar hotel for 10 - 20 years  for fraud.  But since they're the  government, it's okay (wink! wink!).            
Another scam:  the government promised that social  security would  never be used as an identification system, and the cards even had  printed on them "Not to be used for identification purposes." We  know how well they've kept that promise. You have to give your  social security number for everything, even ordering pizza. And  so, another myth bites the dust, along with "I'm from the government  and I'm here to help you" and "The check is in the mail."  

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As we all know, Social Security is not sustainable.

If I could opt out of the system today , even after paying into it for 31 years, I wouldn’t hesitate. It is not insurance. It is not an investment. It’s nothing but another form of income tax. And I really do believe it is, in reality, just another form of welfare payment. That being the case, is it right for Christians to accept social security payments?

Personally, I don’t think so. I do not say that to condemn anyone who is now collecting SS. I say it because I am personally convicted of the wrong in collecting it. Perhaps I’ll change my mind when I’m of age to get my share. After all, I earned it, right? ;-)

3 comments:

TNfarmgirl said...

Amen and amen! What a boondoggle SS was/is!

Scott Holtzman said...

Herrick thanks for the info regarding the 'roses', I am quite a pragmatic person, so waiting is no issue. I tell my wife it came from my years in the military, our motto on the subject "Hurry up & Wait!" (Truth is it takes biblical patience to apply that principle)

Brooke & I were just discussing taxes, specifically what I (and others) term the ‘Hidden Tax’. Buried outside the realms of our conscious daily thoughts resides the bondage of slavery that knows no color or creed, the economics of a nation that’s servant has become its master. I’ve written an article on this that I’m hesitant to post as it cuts to the bone some “sacred cows” in our nations psyche. (Well see.)

Needless to say it is well with in conservative estimates to place our real tax burden of daily life at 78-80% of fiat income of our paper based economy. Tom [Northern Farmer] touched on this in his recent Plain Talk conversation, and it touched that buried nerve deep inside of me, like a scratch I just can’t itch.

Consider that beyond Fed Tax, FICA, Medicare, State Tax, DI/UI, Sales Tax, (countless business taxes and fees associated with business ownership), Gas Tax, Utility Tax, Phone Surcharges, Road Tolls and I could go on.

There is an answer, and there is hope that doesn’t require us to seek the council of a Federal Government Office.

Regards.

R.G. said...

Herrick,

You're correct about SS, but I still plan to take SS when I am of age. I plan to split me and the wife's portion 4 ways and give it back to the kids. I think they will need it in order to pay their taxes.

R.G.