I’m writing this post late in the afternoon on Wednesday, March 25, 2015. I’ve seen so many things that have upset me today with regard to the direction that this country is going. Oh well, I’m just going to say it, liberal lies. Since I started following politics and became a Republican, I’ve heard that the Republicans are going to cut Social Security benefits that they are going to destroy Social Security. “I’m scared Reagan is going to cut my Social Security. I’m scared Bush (George H.W.) is going to cut my Social Security. I’m scared Bush (George W.) is going to cut my Social Security.” Has it happened? I don’t think so. For those individuals born between 1946 and 1958, the retirement age has been increased from 65 to 66, and for those individuals born after 1959, the retirement age has been increased to 67. Benefits were not cut, though. Whenever there is a Republican proposal regarding Social Security, you can bet that the liberals will be out in droves saying that the Republicans want to cut or completely demolish Social Security.
Last week, two liberal Friends posted a photo of several well-healed looking business men sitting around a very nice table in what looked like an executive lounge or a private club. The caption indicated that a group of high income executives called the Business Roundtable or Roundtable Business group had advised Republican lawmakers to consider upping the retirement age for receiving Social Security benefits. Details were not discussed, although I would think the retirement age would stay in place for those individuals who are fifty or older. All of a sudden, the Republicans were beholden to the rich who wanted to cut Social Security. What a crock? I posted back in a very tactful way what my research had discovered. I indicated that when seeing something that looks unreasonable, you need to check it out before slapping it up there on social media. One of the liberals thanked me for bring the truth to his attention. One of them never replied.
This morning a different Facebook friend posted a photograph from Blue Nation Review and indicated that Republicans are trying to kill Social Security again. This is what I discovered when I did some research. The House GOP budget released this week included a provision to block a traditionally routine transfer of funds — known as a “reallocation” — from the Social Security retirement fund to the Social Security Disability Insurance fund, which is projected to be unable to pay full benefits beginning in 2016. It affirmed a House rule adopted by Republicans in January to prohibit such a reallocation without reforms to improve the overall financial health of Social Security. A little more research revealed that transferring money from the Social Security retirement fund to the Social Security disability fund has taken place eleven times and the transaction was complete automatically. Whether you think making it not-so-automatic to transfer money from the retirement fund to the disability fund is a good idea or not, any reasonable and prudent individual can see that this is not “killing Social Security.”
The third thing regarding Social Security that made me mad to day was a quote from Vermont Senator, Bernie Sanders. The Senator’s quote went like this: “Today, someone making $10 million a year contributes the same amount into the Social Security Trust Fund as someone making $117,000 a year. By lifting the cap, we can not only extend the solvency of Social Security by decades, but we can also increase benefits. And that’s exactly what we should do.”
Well, let’s not let the truth get in our way, Senator. A person making $10 million dollars a year receives the same amount as someone making the cap for contributions, $117,000. Social Security was designed that way. A low-income individual draws a larger share of their contributions than someone with a high income. It’s very much modeled after the Karl Marx philosophy, “From each according to his ability, to each, according to his need.”
Let’s say we life the cap and everyone must pay 6% or 12% of their income into Social Security. Will those high income folks draw more in Social Security benefits now that they are paying more? How will this affect the system? Will this have the same effect that taxing the rich does? That is, will we see a loss of jobs, and increase in the prices of goods and services, or a lowering of GDP? These are serious questions that the Senator and the rest of the Democrats/liberals must answer. Can you say “slippery slope?”
According to a number of liberal websites, the Social Security retirement fund has enough money in it so that full benefits can be paid until the mid-2030’s. After that only 75% of the benefits can be paid. Folks, that’s not very far away, only twenty years. Those twenty years will be here before we know it. It seems like yesterday that I was at the movies watching Samuel L. Jackson, John Travolta, Bruce Willis, and Uma Thurman in the movie, “Pulp Fiction.”
With our out of control dictator, I can imagine that at some point, individuals who have faithfully contributed to Social Security might not be eligible to draw their benefits. At retirement age, the Feds would declare someone ineligible because of their net worth. If your net worth is over a certain amount at the time you reach retirement age, you can’t draw Social Security. Instead you live exclusively on your accumulated wealth. What you have contributed will be re-distributed.
The above is pure speculation on my part of what might happen if liberal Democrats are elected to the Presidency for years to come. My predictions about a lot of things that would happen when the current President was elected proved to be true.