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Franco
06-01-2010, 12:34 PM
BERNIE MADOFF

SOCIAL SECURITY
Takes money from investors with the promise that the money will be invested and made available to them later.
Takes money from wage earners with the promise that the money will be invested in a "Trust Fund" and made available later.
Instead of investing the money Madoff spends it on nice homes in the Hamptons and yachts.
Instead of depositing money in a Trust Fund the politicians use it for general spending and vote buying.
When the time comes to pay the investors back Madoff simply uses some of the new funds from newer investors to pay back the older investors.
When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the geezers.
When Madoff's scheme is discovered all hell breaks loose. New investors won't give him any more cash.
When Social Security runs out of money they simply force the taxpayers to send them some more.
Bernie Madoff is in jail.

Politicians remain in Washington.






"If you put the federal government in charge of the Sahara Desert, in five
years there would be a shortage of sand. Milton Friedman

Gerry Clinchy
06-01-2010, 03:11 PM
"If you put the federal government in charge of the Sahara Desert, in five
years there would be a shortage of sand.” — Milton Friedman

Hey, now there's an idea worth pursuing.

Franco
06-01-2010, 03:30 PM
Hey, now there's an idea worth pursuing.



Only if we made them stay in the Sahara Desert.:cool:

depittydawg
06-01-2010, 08:18 PM
BERNIE MADOFF
SOCIAL SECURITY
Takes money from investors with the promise that the money will be invested and made available to them later.
Takes money from wage earners with the promise that the money will be invested in a "Trust Fund" and made available later.
Instead of investing the money Madoff spends it on nice homes in the Hamptons and yachts.
Instead of depositing money in a Trust Fund the politicians use it for general spending and vote buying.
When the time comes to pay the investors back Madoff simply uses some of the new funds from newer investors to pay back the older investors.
When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the geezers.
When Madoff's scheme is discovered all hell breaks loose. New investors won't give him any more cash.
When Social Security runs out of money they simply force the taxpayers to send them some more.
Bernie Madoff is in jail.

Politicians remain in Washington.






"If you put the federal government in charge of the Sahara Desert, in five
years there would be a shortage of sand. Milton Friedman


Do you know why Social Security was implemented? Allow me to remind you. About 1930 - 1940, the global private enterprise system called Capitalism, created a generation of Washed out workers, with absolutely no means of support. Not only had the Private enterprise system completely failed these workers, but at the time had also failed about half of those who were still capable of performing work.
Now, you have to remember that these folks weren't as educated in the economic theories behind capitalism, so when they lost the jobs, their homes, their farms, and couldn't feed their babies, they actually got a little violent. Yep. I seem to remember reading something about riots, shutdowns, political upheaval, governments being overthrown, executions. etc. etc. Rather than try to educate these masses on the benefits and long term guaranteed success of the Capitalist system (see the modern drill baby drill rally cry) that had let them down, the government just caved in and gave them a pittance to live on.
That was called Social Security. It said that if a man worked a lifetime and couldn't manage to save a dime, or maybe lost his life savings in a failed bank, insurance company, or Wall Street Scheme, that he would be allowed to at least live out the rest of his life without begging on the street.
It is also a fact that in the 50 or so years of Social Security, every man, woman and child who paid into the system and lived long enough to collect has received their benefits. How many private pension systems can make the same claim over the last 50 years?

Franco
06-01-2010, 08:58 PM
Do you know why Social Security was implemented? Allow me to remind you. About 1930 - 1940, the global private enterprise system called Capitalism, created a generation of Washed out workers, with absolutely no means of support. Not only had the Private enterprise system completely failed these workers, but at the time had also failed about half of those who were still capable of performing work.
Now, you have to remember that these folks weren't as educated in the economic theories behind capitalism, so when they lost the jobs, their homes, their farms, and couldn't feed their babies, they actually got a little violent. Yep. I seem to remember reading something about riots, shutdowns, political upheaval, governments being overthrown, executions. etc. etc. Rather than try to educate these masses on the benefits and long term guaranteed success of the Capitalist system (see the modern drill baby drill rally cry) that had let them down, the government just caved in and gave them a pittance to live on.
That was called Social Security. It said that if a man worked a lifetime and couldn't manage to save a dime, or maybe lost his life savings in a failed bank, insurance company, or Wall Street Scheme, that he would be allowed to at least live out the rest of his life without begging on the street.
It is also a fact that in the 50 or so years of Social Security, every man, woman and child who paid into the system and lived long enough to collect has received their benefits. How many private pension systems can make the same claim over the last 50 years?

Where SS started to go in the wrong direction was when they began to pay benefits to people that had put nothing into it.

There is a huge difference between paying into a system from income earned as opposed to government charity.

Gerry Clinchy
06-02-2010, 07:23 AM
Only if we made them stay in the Sahara Desert.:cool:

That's what I had in mind :-))

depittydawg
06-02-2010, 12:10 PM
Where SS started to go in the wrong direction was when they began to pay benefits to people that had put nothing into it.

There is a huge difference between paying into a system from income earned as opposed to government charity.

I'd say they screwed up SS when they threw it into the overall federal budget and made it accessible for spending on Wars and other unintended uses. I believe it was President Lyndon Johnson and the heavily controlled democratic congress of the sixties that did this. Of course, when Al Gore proposed undoing this in the Presidential debates of 2000, he was laughed off the stage by both parties.

Marty Lee
06-02-2010, 02:56 PM
Al Gore..... BAHahahahabbbbaaahhahahhaa........sorry he is still funny!
but i am glad he invented us the interweb.........global warming myarse

depittydawg
06-02-2010, 03:06 PM
Al Gore..... BAHahahahabbbbaaahhahahhaa........sorry he is still funny!
but i am glad he invented us the interweb.........global warming myarse

Thanks for making my point Marty.

Marty Lee
06-02-2010, 03:09 PM
LOL a....lways glad to help in the worstest way.
pot stirrin regards

Cody Covey
06-02-2010, 03:59 PM
What i never understood is why it is a requirement to pay into social security each paycheck. Why can we not opt out of it? You opt out you get no money and have to fend for yourself. But you also get more money throughout your life to be able to save if you want. Save more money to invest at 10% + or have my money taken from me in the form of a tax and then taxed when i get it back all the while collecting no interest. Sounds like a sham to me.

paul young
06-03-2010, 06:03 AM
please PM me with the low risk investment you have found yielding a 10%+ return annually. i REALLY would like a piece of that.-Paul