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PCnerd commented on the blog post Toxic Shock: Poll Confirms Social Security Cuts Are Still Political Third Rail
Just so this issue is crystal clear… Social Security is a retirement trust fund for the poor. The wealthy would be upset if we went after their retirement accounts to pay off the national debt. Yet they have the nerve to go after Social Security. Why? Because it was all invested in Treasury Notes and they don’t want to bear the costs when they come due.
China invests in the same type of financial instrument. If the US defaulted on those Treasury notes, it could start a war with the Chinese. But, defaulting on the money which was invested for the poor’s retirement … well; we folks can be controlled and will be unlikely to fight back. Or if we do, the rebellion can be put down.
Even the wealthy buy Treasury Notes to save for their retirement. Yet, there is no plan to limit what will be paid to them when they cash them in.
Now-a-days the President can start a war without Congressional approval. Presidents use the money for wars which serve corporate interests.
Only the rich benefit from the wars we fight. Now, they want the poor to not only fight and die in them, but also to pay for the wars. The rich should bear the cost of paying it back through higher taxes. It is that simple.
Heck here is proof: Greenspan says deficit could spark bond crisis http://www.msnbc.msn.com/id/40182440/ns/business-personal_finance/
Basically the government is saying “we are willing to payout when rich people or China tries to cash in their Treasury bonds … But we would simply have to raise taxes if the working poor tried to do so”
As far as raising the retirement age, the working poor suffer more accumulative damage to their bodies than the rich. Once you reach 62, the bar for Social Security should be lowered so far they could hobble across it. -
PCnerd commented on the blog post Not fancy and no feast for the lot of you
Just so this issue is crystal clear… Social Security is a retirement trust fund for the poor. The wealthy would be upset if we went after their retirement accounts to pay off the national debt. Yet they have the nerve to go after Social Security. Why? Because it was all invested in Treasury Notes and they don’t want to bear the costs when they come due.
China invests in the same type of financial instrument. If the US defaulted on those Treasury notes, it could start a war with the Chinese. But, defaulting on the money which was invested for the poor’s retirement, well, we folks can be controlled and will be unlikely to fight back. Now-a-days the President can start a war without Congressional approval. Presidents use the money for wars which serve corporate interests. The rich should bear the cost of paying it back through higher taxes.
Only the rich benefit from the wars we fight. Now, they want the poor to not only fight and die in them, but also to pay for the wars. It is that simple. -
PCnerd commented on the diary post In Defeat, Failed Catfood Commission Chairs Issue Flawed Report While President Travels Abroad by Teddy Partridge.
Just so this issue is crystal clear… Social Security is a retirement trust fund for the poor. The wealthy would be upset if we went after their retirement accounts to pay off the national debt. Yet they have the nerve to go after Social Security. Why? Because it was all invested in Treasury Notes and [...]
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