Mike Ault's thoughts on various topics, Oracle related and not. Note: I reserve the right to delete comments that are not contributing to the overall theme of the BLOG or are insulting or demeaning to anyone. The posts on this blog are provided “as is” with no warranties and confer no rights. The opinions expressed on this site are mine and mine alone, and do not necessarily represent those of my employer.
Thursday, January 27, 2011
Class Action Suite
In case you haven’t guessed, I am talking about the ponzi scheme known as social security. A ponzi scheme is when you take money from investors and then pay back past investors with money from future investors without investing a dime to make more money. It works as long as your new investors exceed the numbers of your old investors. Supposedly the Social Security system was supposed to be a safe investment into a safety net retirement fund it grew into the mandated ponzi scheme it is today because in the 1980’s the government was allowed to borrow from it and pay back using federal bonds supposedly earning 5%/ However, the only way to pay these bonds was through additional tax revenue. Needless to say, any additional tax revenue was just as quickly spent as the money borrowed from Social Security. Shall we stop using euphemisms? The Congress and Senate, aided by the Presidents and Vice Presidents as well as the Fed stole from Social Security with no intention of ever paying it back.
I think that any currently sitting house of senate member and any past or present Presidents or Vice Presidents, in office or not, who ever voted at anytime to approve this thievery should have their pensions stripped from them and they should be jailed just like Bernie Madoff. To deliberately steal money from your constituents knowing you can never pay it back is criminal.
Unfortunately this elected royalty will never have to be punished for what they have done and continue to do. The trillion plus dollars they have stolen will never be paid back and many of the baby boomers who paid more in Social Security than any of their predecessors will end up in soup lines and shelters sleeping on cots when they reach their 90’s. Sometime around 2037 if things stay as they are the Social Security fund will run out of money and it is the fault of the greedy politicians in Washington who couldn’t keep their hands off of the money contributed to Social Security. By then I will be 80 years old, assuming they haven’t confiscated all the guns by then I hope I can still shoot straight.