Tuesday, September 13, 2011

SOCIAL SECURITY: A Ponzi Scheme or Criminal Act?

ROMNEY AND PERRY - GOP PRESIDENTIAL DEBATE
Romney quoted Perry's saying that Social Security was a Ponzi Scheme.

Perry quoted Romney's saying that when formed Social Security was illegal. 

They were both right!

"Ponzi Scheme" is named after Charles Ponzi, who became notorious for using a technique in the 1920s of paying returns to separate investors, not from any profit earned, but from money paid by subsequent investors.

DOES THIS NOT PRECISELY DESCRIBE SOCIAL SECURITY?
THE CONSTITUTION OF THE UNITED STATES OF AMERICA
The Constitution is a very defined and extremely straight forward document.  It guarantes Life, Liberty and the Pursuit of happiness.  No where in the constitution can one find any hint of social security.  Is this important?

The Supreme Court in 1905 in South Carolina vs United States found that "The Constitution is a written instrument.  As Such, its meaning does not alter.  That which it meant when it was adopted, it means now".  It was made thus by Madison, Jefferson and at least five presidents and many, many prominent statesmen like Ben Franklin.

Provide:  To supply, to insure.

Promote:  To raise in rank or status, to help forward, to encourage.

The U. S. Constitution says the government is to PROVIDE for the common defense, PROMOTE the general welfare.


Social Security was originally and has since been used by politicians to cover their errors and pay for their excesses.

THOMAS JEFFERSON

In 1791 Thomas Jefferson said, "Congress has not unlimited process to provide for the general welfare, but only for those specifically enumerated".

JAMES MADISON

In 1792 James Madison said, "If Congress can do whatever in their discretion, whatever can be done with money, and will promote the general welfare, the government is no longer a limited one".


CLEARLY, THE WRITERS OF THE CONSTITUTION, HENCE THE CONSTITUTION, WAS AGAINST SOCIAL SECURITY!

Remember, not only did you contribute to social security but your employer did too.  It totaled 15% of your income before taxes.  If you averaged only $30K over your working life, thats close to $220,500.  Invested in an annuity paying 4% interest you'd have a life time income of $2,976.40 per month.

THE FOLKS IN WASHINGTON PULLED OFF A BIGGER PONZI SCHEME THAN BERNIE MADHOFF EVER IMAGINED!




I paid good cash for my social security, starting while I was in a war zone serving my country!  I've never been one for accepting handouts of any kind, but if they try to renege on the bad agreement they forced upon us, the government will absolutely return overnight to being the smaller, limited government our founders intended!

God bless you and yours.  God bless the USA


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