Posted by taxguru on July 27, 2011
It’s practically impossible nowadays to distinguish between the increasingly insane real events in places like Washington, DC and parodies from humor publications.
This hilarious video from The Onion could some day become real as the Social Security Ponzi Scheme continues to implode.
Social Security Reform Bill Encourages Americans To Live Faster, Die Younger
Posted in humor, SSA, video | Comments Off on A possible solution for Social Security?
Posted by taxguru on July 14, 2011
Posted in comix, Obambi, SSA | Comments Off on How desperate can he get to raise taxes?
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:
Posted in SSA | Comments Off on Social Security Collapsing
Posted by taxguru on March 27, 2010
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Posted in comix, SSA | Comments Off on The government’s largest Ponzi Scheme is starting to collapse…
Posted by taxguru on March 26, 2010
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Posted in comix, SSA, taxes | Comments Off on Wishful Thinking…
Posted by taxguru on February 15, 2010
Neal Boortz recently posted this side by side comparison of the two largest Ponzi schemes used to steal investor money in this country.
Another big difference between the two schemes was the fact that Madoff’s victims invested their money voluntarily, while Social Security is funded at the point of a gun. Madoff’s investors stopped giving him their money as soon as it was revealed to be a fraud. IRS is still forcing people to pay in to the SSA even now that’s its collapse has been revealed to be imminent.
Posted in scams, SSA | Comments Off on Comparing Ponzi Schemes
Posted by taxguru on October 28, 2009
There has already been a lot of press coverage of the fact that there will be no increase in the monthly benefits paid to Social Security recipients in 2010 because of the low inflation rate for the past year.
For the first time I can recall, we also have a freeze in the other side of that equation, the maximum earned income that is subject to the Social Security (aka FICA) tax. The maximum for 2010 will be the same $106,800 as it has been for 2009 according to IRS and the SSA.
I still stand by my prediction that it is only a matter of time before that ceiling is completely removed, as it was a while ago for the MediCare tax. The politics of class envy and soak the rich rhetoric are as hot and heavy as they’ve ever been; so forcing those “evil rich” people to pay more SS tax will be a very popular move.
Likewise, there will be also a stronger push to “means test” eligibility for future Social Security benefits, with those having an AGI and/or a net worth over a certain limit established by our all-wise rulers in DC phased out of receiving anything back from the SSA.
So, people earning over $100,000 will be forced to pay in more to the SS system with the probability of receiving even less of it back than ever before. If this doesn’t encourage more people to take legal steps to reduce what they pay in to the SS system now, such as by the effective use of corporations, it’s hopeless for those folks.
Posted in SSA | Comments Off on No increase in SS tax base for 2010
Tax Guru - Ker$tetter Letter 