> this is news? ever heard of social security tax?
Well, when Social Security was drafted, the social security money was supposed to "sit" to be distributed someday. Now, if private corporations used a pension fund for anything else but the pensions, that would be "conversion" which is akin to embezzlement, and people go to jail. But the government can break the law (and often does), so they spent the money on God knows what, so here we are, trying to squeeze new young workers to pay for the old workers, and ponzi etc blah blah yadda.
For this reason, what with the debt limit crisis etc. I say "stand your ground" against ANY tax hike, the government CAN'T manage money worth a damn, so the less the government collects the less it can mismange and squander. If we can't afford something (services, entitlements, grants to artists who want to squirt paint out their ass)... that's the tough reality of living in reality.
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Re: Obama admits US government is a Ponzi scheme
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