Social Security Collapsing
Posted by taxguru on August 13, 2010
For well over three decades, I have been warning that the Social Security system is a scam that would be illegal if set up or administered by anyone other than our imperial rulers in DC.
As I have long been predicting, the only ways in which it can be saved will be to deny benefits to those considered evil rich (aka means testing), requiring SS taxes be paid on more kinds of income (investment, rental etc.), and delaying benefit payouts until a higher age, so that more people will die off before cashing in. These kinds of changes are currently under discussion in DC.
Social Security: Government ‘Ponzi’ Scheme Turns 75 with $41 Billion Shortfall
Recipients screwed by new Social Security formula
From NewsBusted:
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