Issues involving the national debt and increased spending and borrowing have reached the point where they can no longer be ignored and/or put off. The dance that began with FDR's Social Security has ended, and the piper is getting impatient for his wage.
What is interesting is the manner in which the Leftist mass media is trying to frame the debate. Social Security, Medicare, Medicaid, food stamps, etcetera; are termed by the Left to be "Mandatory spending" while essentials such as National Defense are termed "Discretionary Spending".
What the fuck is going on here?
Well, for one thing the terms "Mandatory" and "discretionary" are misnomers. Our Constitution does NOT AUTHORIZE ANY of the so-called "Mandatory" spending. Even if FICA IS a "tax" authorized by the 16Th Amendment, the purpose to which it has been put since before I was born is COMPLETELY UNAUTHORIZED BY THE CONSTITUTION!! SS, Medicare and Medicaid (and other) spending is not only not "mandatory", it is also completely unauthorized by the Constitution, and therefore ILLEGAL.
The only reason we have Social Security today is that it was peddled to the public as an "insurance investment". But when someone objected and took his objection all the way to the Supreme Court, the Government argued that FICA deductions were one of the taxes (not tax, singular) on incomes authorized by the sixteenth amendment.
And being no more than a tax, the imposts were then dumped into the general fund. SS and its adjuncts were "paid for" with U.S. Treasury Bonds. And the money was used for whatever our wannabe-massas thought good.
There ain't no fuckin' money to pay social security NOW.
Nevertheless, there are people who either are anticipating SS benefits in the future or who are dependent on them NOW. The slimeballs who thought up this mess KNEW that they needed but set the hook to ultimately land the fish. (By the way, this is also why the Obama administration is fighting like mad to stave off and delay challenges to the unconstitutional and unsustainable scheme known as Obamacare. It's the same principal a dope pusher uses: first get 'em hooked, then gouge the hell out of 'em.)
Eliminating Social Security would provide enough savings to retire our debt to China. We are not talking just payments to retirees here. Those are the tip of the iceberg. The cost of paying government employees to administer this boondoggle amount to two or three times the amount paid out. If there were a charity with such a high overhead, it would rightly be labeled a FRAUD.
What we would propose to wean the public off Social Security would be to:
- Assure all persons already recieving benefits that they will not lose them.
- Give people who have already paid at least $20,000 into the system, and are ten years or less from retirement on the date of adoption of this plan, the choice of a one time lump-sum tax free payment of $15,000 OR to recieve benefits as the system is already set up to provide them.
- All others would continue to pay the FICA tax at present rates until such time as they have paid in $65,000 or until they reach eligibility, whichever comes first; at which time they will no longer be required to pay the FICA tax and will recieve a $15,000 one-time tax-free lump sum "benefit" as described above.
- All employers will continue to pay the payroll tax on wages, regardless of whether the worker has met his $65,000 quota or is at or beyond the age of eligibility.
- Self-employed and independent contractors will not be required to pay both the FICA and payroll tax portions, and the "self-employment tax" will be re-written to reflect this.
- When the point has been reached at which all workers who have paid at least $60,000 into the system are assured of their $15,000 benefit AND all persons recieving benefits under the present arrangement are dead or otherwise ineligible, the FICA tax and the Social Security Administration will be abolished.
- The payroll tax will remain in effect but will substitute for the income tax on employees earning up to the "cap" on FICA obligations. The abolition of FICA will serve to provide an automatic benefit to those workers who have not paid in $65,000 at the time Social Security is ended.
This plan could in our estimation wean the nation off Social Security in the space of a generation (or less). And with "Obamacare" shot down, maybe we can get back to the idea that, other than life, liberty, the pursuit of happiness, and what you have earned; you are entitled to a kick in the ass. That way lies prosperity.