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Trump has named as head of his team’s Social Security effort - Michael Korbey, a former lobbyist who has spent a lot of his career advocating for cutting and privatizing the program, per Yahoo News.
He was the guy who spearheaded George W Bush's attempt at privatizing Social Security.
Abolish Socialism
The one thing no politician nor administration will do, is the one thing necessary to stem the flood of invaders, stop the hemorrhage of money to parasites, end depopulation, and cease rewarding the nonproductive and penalizing the productive.
Socialism . Must . Be . Abolished.
The survival of civilization hangs in the balance.
Someone has to pay for the trillions in tax cuts for the big money donor class. Trump and his cronies want an end to any tax on inheritance income for the super rich and huge cuts in overall rates for himself.
Ordinary Americans will pay as SS is handed over to Wall Street. Make America pay again!
Socialism is workers owning the means of production. Workers DO NOT own the means of production in America. Only a very select few worker co-operatives exist. And to claim that workers owning the means of production is rampant everywhere around the world is simply a lie.
The average American cannot save enough to provide for his/her senior years. Especially once you take out fees that will have to be paid to financial institutions. On the table is also the removal of the requirement that financial institutions owe a fiduciary duty to retirees when offering or advising for investments. What this means is that: What will be the offerings will be the investments that have large commissions and/or fees. No duty to do what is reasonably best for a retiree's account. If that requirement is removed, which is on the table.
If an American worker saves $100/month for 35 years (from age 30 to 65), and gets the S&P average return for, say, 10 years, extended out to 35, he will have saved, including monthly compounding, about $103,000, BEFORE financial institution fees are removed. The range would be from $79,000 to $121,000, if the return varies by 1% either way. The S&P has an average return of 4.55% over 10 years. During a 35 year period, there will be high returns, and there will be several recessions, where a lot will be lost if the person is in the stock market.
It's unknown if the Republicans want to continue to require employers to kick in the payroll tax to those accounts, or if the privatized SS will simply be allowing the contributions to 401ks be increased for those that have them. Employers aren't required to contribute to their employees'401ks.
$103,000 is a fraction of what will be needed to significantly supplement a senior's expenses at that stage of life. It does not replace the Social Security system.
We will see a lot of seniors living in true poverty, if this happens. We know this from our past history. That's why Social Security was started in the first place.
Socialism is workers owning the means of production. [NO] Workers DO NOT own the means of production in America. [IF THEY ARE STOCKHOLDERS, OR SOLE PROPRIETORS, THEY DO] Only a very select few worker co-operatives exist. And to claim that workers owning the means of production is rampant everywhere around the world is simply a lie.[No one wrote that]
❏ COLLECTIVISM - the socialist principle of control by the people collectively, or the state, of all means of production or economic activity.
- - - Webster’s dictionary
...
❏ COMMUNISM - the ownership of property, or means of production, distribution and supply, by the whole of a classless society, with wealth shared on the principle of “to each according to his need,” each yielding fully “according to his ability.” - - - Webster's Dictionary.
❏ SOCIALISM - A political and economic theory advocating collective ownership of the means of production and control of distribution. It is based upon the belief that all, while contributing to the good of the community, are equally entitled to the care and protection which the community can provide. - - - Webster's dictionary
== > From the Communist manifesto: "In this sense, the theory of the Communists may be summed up in the single sentence: Abolition of private property."
COLLECTIVISM in all its flavors is an attack upon private property owners. Which explains why it often takes an armed revolution to impose communism. Owners don't appreciate being robbed "for their own good."
❏ Socialism and communism = COLLECTIVE ownership. No individual can absolutely own himself, his labor or his property. No individual rights are superior to the collective.
❏ The collective (“whole of a classless society”) = those who control the collective, rule the collective.
❏ Entitled to care, obligated to contribute = compulsory labor for the benefit of another; compulsory charity; distribution decided upon by the administrative bureaucracy; SLAVERY.
❏ Abolition of private property = anathema to American law; the violation of the endowment of rights and liberties; eradication of individual sovereignty and the republican form of government.
- - - - - - - - -
Do you understand what “abolition of private property” and “collective ownership of the means of production” really mean?
How do you “produce food?” - Farm.
Who owns “your” farm? - The Collective.
Who owns the harvest of “your” farm ? - The Collective.
Who therefore owns the fruits of “your” labor? - The Collective.
Who therefore controls your right to life, to a livelihood, and to all that is generated? - The Collective.
Not good.
Last edited by jetgraphics; 11-18-2016 at 11:48 PM..
Someone has to pay for the trillions in tax cuts for the big money donor class. Trump and his cronies want an end to any tax on inheritance income for the super rich and huge cuts in overall rates for himself.
Ordinary Americans will pay as SS is handed over to Wall Street. Make America pay again!
Here come the salivating banksters. Thanks Trump and all your loyal useful idiots...I hope they suffer much at your hand.
FWIW - no privatization of Socialist InSecurity will happen... well, not the abandonment of the government system.
The government gained too much power and revenue via FICA.
In addition, as "contributors" 320 million Americans are "human resources" pledged as collateral on the public debt (over 19T). Remember, 'dollar bills' are not dollars, but IOUs (debt) denominated in dollars. They are part of the national debt. And can only be increased by Congress going deeper into debt. (See: Title 12 USC Sec. 411). Since usury requires an ever growing money supply, Congress will keep enacting deficits.
If SocSec was privatized, and the participants ceased being contributors, the fungibility of the Federal Reserve note would end.
"Federal reserve notes are legal tender in absence of objection thereto."
MacLeod v. Hoover (1925) 159 La 244, 105 So. 305
Only obligated parties on the notes must accept them as tender in lieu of lawful money. 12 USC Sec. 411 defines the US Government as an obligated party. But not the people of the USA - unless they consent, via FICA.
Can you guess what would happen in the majority of Americans ceased being obligated parties and could object to the worthless notes?
Billionaires become zero-aires.
Government collapses.
Creditor cannot foreclose, because public property is held in trust, and cannot be collateral. DRAT.
". . .Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything. This has been the case since 1933. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are "backed" by all the goods and services in the economy."
I think it would be a good time to write to your representative and senator and ask HOW bad checks kited by Congress are "backed" by all YOUR goods and services in the economy.
I can’t recall the constitutional clause that states that Congress has a superior claim upon the labor and property of all Americans - do you?
Remember, no American government can take PRIVATE PROPERTY for public use without paying JUST COMPENSATION. Ergo, no government can arbitrarily claim ALL PRIVATE PROPERTY without incurring an impossible obligation.
Forgot to mention - - -
The whole Social Security system is a giant 'tax and bribe' scam created to enact a new tax in the midst of the Great Depression - just like OH-care was a new tax.
In FY 2016 the federal government spent $916 billion on Social Security.
http://www.federalreserve.gov/faqs/currency_12773.htm
Q: How much U.S. currency is in circulation?
A: There was approximately $1.45 trillion in circulation as of April 6, 2016, of which $1.4 trillion was in Federal Reserve notes.
($4,375 per capita )
($916 billion / $1450 billion) x 100 = 63.1%
How in the world did government disburse 63.1% of the total amount of circulating money?
https://en.wikipedia.org/wiki/Financ..._United_States
". . . The financial position of the United States includes assets of at least $269.6 trillion and debts of $145.8 trillion to produce a net worth of at least $123.8 trillion."
https://www.gpo.gov/fdsys/pkg/BUDGET...T-2015-BUD.pdf
2015 Federal Deficit $312 billion (estimate)
2015 Debt Service $252 billion (estimate)
2015 Unified budget deficit $564 billion (estimate)
2015 Gross Domestic Product $18,454 billion (estimate)
. . . versus . . . $1.4 trillion in circulation.
Still, when you tally up the numbers, it is absolutely insane.
They're claiming values denominated in something that DOES NOT EXIST.
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