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:
“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."
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? ;-)
Bristol Caverns picnic - [image: Bristol caverns] The view from a picnic table at Bristol Caverns.
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