Comparing Social Security to Bernie Madoff

[berttheturk]

A friend sent me this and I'm wondering how I should respond. I think he got it off of a right-wing web site.

[PBS Poll-435]

1. What the Fuck?

Yeah. Your "friend" probably got that off of a right-wing site.

[sinkingfeeling]

2. I would guess the 'author' was between 13 and 18 years old.

[berttheturk]

3. But help me with a come-back on some this. n/t

[Demeter]

5. Baby Boomers Paid In Taxes Enough Social Security

to pay for themselves, their parents and their grandparents all at the same time.
Ronald Reagan insisted on it, and Congress passed it.

The money collected was spent on wars, tax cuts for the rich, and corporation bailouts. George Bush Jr insisted on it.

Tax the corporations, tax the rich, end the wars and bring home the troops.

The government owes the People and must pay this obligation.

[berttheturk]

6. I agree with your comments but they don't specifically

refute the caparison shown in the graphic. In fact, your comments seem to support it.

[Demeter]

19. Tax the Corporations and Tax the Rich

What part of this means anything less than making our generation and the ones that follow whole? It's called enforcing the social contract and asset-stripping the criminals.

[notesdev]

8. And it got stolen

and so they feel justified in stealing from the next generation to make themselves whole.

[Demeter]

20. The Next Generation of Corporations? The Offspring of the Obscenely Rich?

Is that the next generation you are protecting?

[hughee99]

4. Very right wing talking points,

but in the end, not 100% inaccurate. The biggest differences between the government and Madoff, though, is that the government has actual "income" coming in where it doesn't have to attract it's investors, and importantly, can always print new money if necessary. Neither plan is sustainable as it is, though. For Madoff, the investors were scared off and his cash flow disappeared. For SSI, eventually (and it's a good time away), there will be more money going out than coming in unless they cut benefits, start means testing, or collect more.

[berttheturk]

7. well...

actually the governent does NOT have "income." Income is payed in for work produced and taxes are "collected." But that's really not important as it relates to the comparison between Madoff and SS. I appreciate your response but I'm not sure it really addresses any specific detail in the table.

[Egalitariat]

15. When he says it's "not 100% accurate", he implies it's mostly accurate

And it is mostly accurate. It's just painting SS in the worst possible light.

[DJ13]

9. All I can say is

You need better, more intelligent friends.

[sinkingfeeling]

10. Social Security has kept its 'promise' to everyday, working people for over 7 decades. It

was established as a 'pool' by law. The money n the Social Security Trust was stolen by Republicans with the okay of most Democrats to pay for wars and tax cuts for the rich. I'll bet I've paid more into SS than 95% of the population and I'm just a mere 62 and still working.

[berttheturk]

11. "Social Security Trust was stolen by Republicans with the okay of most Democrats "

Sorry, but I don't give our Democratic congress a pass on this. As you said, "...with the okay of most Democrats."

[asdjrocky]

12. Your friend need to learn to read books.

All of this is bullshit.

[berttheturk]

13. spell it out...n/t

[Name removed]

14. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[Kingofalldems]

16. Oh you do think you are slick--don't you?

[Bitwit1234]

17. Well I have a response

REAGAN RAIDED SOCIAL SECURITY TO BALANCE HIS BUDGET AND EVER SINCE THEN THE MONEY WHICH WOULD HAVE WENT TO BUILD UP THE SURPLUS TANKED, AND SO OTHER PRESIDENTS DID IT ALSO.

That is what is wrong with social security. If you go to the I.O.U.'S owed back to this fund it would break our treasury bank. But since the Saint started it all the republicans will mess a brick if you mention it. I got in to a two page argument on Facebook with my republican inlaws they don't want to believe it.

[berttheturk]

21. I agree. There's been a long history of this fund being raided. n/t

[DemoTex]

18. To paraphrase Carl Sandburg's "To a Contemporary Bunkshooter""

You come along squirting words at us, shaking your fist
and calling us all damn fools so fierce the froth slobbers
over your lips. . . always blabbing we're all
stupid old men and you know all about it.

I don't want a lot of gab from a bunkshooter in my politics.
I won't take my politics from any punk who never works
except with his mouth and never cherishes any memory
except the face of the woman on the American
silver dollar.

Again, my apologies to the great Carl Sandburg.