LTTE: Republicans, tea partyers attempt a gigantic Social Security fraud

[RC]

Published October 01, 2011, 12:00 AM
By: Dudley C. Wells, Moorhead

Social Security, contrary to statements by Gov. Rick Perry, R-Texas, and columnist Charles Krauthammer, is nothing like a “ponzi scheme” because it does not lure investors into ever-riskier investments and does not deliberately attempt to defraud, except in the minds – or mouths – of candidates anxious to make a splash with the “tax aversion” wing of the GOP.

The Social Security retirement system is in fact an efficient, well-run, federally administered retirement insurance program that is not only $2.6 trillion in the black but has already helped reduce the national debt by the same amount.

>SNIP<

I have been paying into Social Security for 48 years. During that time, I have watched employers tamper with pension plans and have seen market vagaries and Wall Street gambling severely damage the equity in IRAs, 401(k)s, ESOPs, and family property. My Social Security pension and 10 years of savings will be my only reliable income in retirement.
>SNIP<

If the Republicans, with their junkyard dogs – the tea party – attempt to destroy Social Security, it would be one of the most gigantic frauds in history, and I, for one, will be out on the street and ready to roll.

http://www.inforum.com/event/article/id/335843/group/Opinion/

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Junkyard dogs - A very good descriptive name for the T-baggers.

[pinto]

1. Kick

:kick:

[Martin Eden]

2. Redistribution of Wealth

Ronald Reagan lowered taxes on the rich but raised payroll taxes on working Americans. GW Bush cut taxes on the rich even more, then our country went deeper in debt with wars and a recession caused by Wall Street fraud. All this time Social Security -- funded by working Americans -- has been running a surplus that has been used to pay for those tax cuts and wars and bank bailouts.

Now the same people who launched those wars and who were bailed out and who benefitted from those tax cuts are calling Social Security a Ponzi scheme in their relentless efforts to destroy the last vestiges of the social contract of FDR's New Deal.

If they succeed -- if SS benefits are reduced for Americans who worked hard all their lives and played by the rules -- this will be a huge redistribution of wealth from the middle and working classes to the rich.

THAT is the REAL class warfare that is unfolding right before our eyes.