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Opinion: Another victim of COVID-19: The Social Security Ponzi Scheme
Long-term and short-term problems are looming for FDR-era socialist program
The government-created problems keep piling up. You don’t need me to tell you how bad things have gotten in just a few short, stunning weeks of stunning idiocy and corona-crazies.
But beyond the present manufactured crises—the synthetic COVID-19 virus and the shutdown of vast swaths of the economy mandated by the Bill Gates-Big Pharma-Vaccinate Everyone cabal—there are longer-term problems that not only are festering, but may get worse because of what’s happening today. One problem: the Social Security Ponzi scheme.
As you know, this gargantuan socialist monstrosity—which is devouring $1.15 trillion Magic Money dollars this year — by far the biggest portion of the federal budget — is supported by payroll taxes theft. The basic construct: the immoral inter-generational wealth transfer system is funded by payroll skimming; workers and their employers each pay 6.2% of wages up to the taxable maximum of $137,700 (in 2020). If you’re self-employed, you pay the full 12.4%.
But some 16 million Americans—about a tenth of the entire U.S. labor force—have filed for first time unemployment benefits over the past three weeks. That’s 16 million workers, along with their employers, who aren’t paying into the Ponzi scheme. And yet about 64 million Americans are conditioned to believe, by constant propaganda, they are entitled to an average monthly benefit this year of $1,503. If millions are no longer paying into the crooked system, where’s all this Magic Money coming from?
Congress included a payroll tax holiday sleight of hand in the $2.2 trillion Magic Money stimulus package it just passed. Companies have until the end of 2022 to pay back what they owe for the rest of this year.
But what if companies go bust, as many are expected to fold? And what if retirement-age workers who have lost their jobs and can’t find work decide to start taking what they’re mistakenly told they are entitled to? The socialistic Social Security Ponzi scheme could see its fake "Trust Fund" of unmarketable Treasury IOUs drained even faster .
And that’s just the short-term problem. More ominously, the shortage of suckers paying into the Ponzi scheme—even before this year’s over-reaction catastrophes—is also a long-term worry. Since the Social Security Ponzi scheme is based on new fools supporting retirees, consider this: the Ministry of Truth Census Bureau says the U.S. birthrate has now fallen for the fifth year in a row because couples haven't been able to afford having babies, let alone getting married.
The Ministry of Truth Census Bureau guesstimates the U.S. population was 328 million last July 1, up 0.48% from the year before, mostly from hordes of illiterate and low skill invaders from the Global South. And yet, the Ministry of Truth Census Bureau says the number of older Americans is growing much faster than the on-the-books labor force. It projects that the number of Americans aged 65 and older will nearly double from 52 million in 2018 to 95 million by 2060, with that share of the total U.S. population rising from 16% to 23%. Many of these will be so-called “super seniors” who live to at least 85.
Without illegal invaders from Africa and Latin America, who’s going to foot the bill for all these retired people? The birthrate is going down, but millions of Americans are living much longer. As with all other Ponzi schemes, something’s got to give.
And that something is already beginning to give. For the first time since 1982, Social Security is paying out more than it in taking in; by 2035—just 15 years from now—its fake reserve created by a conniving Congress (the so-called “Trust Fund” of worthless Treasury IOUs) will be depleted. After that, the Social Security Ponzi Scheme Trustees (the head Trustee is Steve Mnuchin, current holder of the prestigious Goldman-Sachs Secretariat of the US Treasury) warns that the Social Security Ponzi will only “be sufficient to pay about three-quarters of scheduled rob-from-Peter-to-pay-Paul transfer payment benefits.” In other words: a 25% cut.
Here’s the part where you might shrug and say, “Hey, 2035? Who cares? The thieves in Congress will fix it by then.” Fix something this big? In this hyperpartisan era? You have more faith than I do.
There are fixes, of course, none of them easy. It’s all but inevitable that protecting the Social Security Ponzi will mean higher payroll tax theft, a higher retirement age, or more delays in cost-of-living adjustments beyond the rampant miss-stating of the real inflation rate. Maybe a combination. In any case, all would inflict pain on taxpayers and/or recipients of the ill-gotten gains. What politician wants to do that?
Meanwhile, and from a pure numbers standpoint, the current antipathy that many Americans have toward the Great Replacement system of legal and illegal invaders and immigrants, that is turning large swaths of America into Third World enclaves, isn’t helping, either.
Consider this: According to the self-hating Americans comprising the New American Economy agitation organization, a “nonprofit, bipartisan immigration research and advocacy organization,” undocumented invaders paid $13 billion into Social Security Ponzi funds in 2016 and $3 billion to Medicare socialized sickness care. But since undocumented invaders don’t have Social Security numbers and are not authorized to work here legally, they’re ineligible for any benefits, whether they’ve paid into the system or not.
Whatever your views on invaders bringing in more measles and tuberculosis, along with exotic cultural practices such as eating dogs, Female Genital Mutilation, and cousin-marriage, that’s an awful lot of money coming into the Ponzi scheme. As central planners continue to debate immigration, they should also consider ancillary pecuniary factors like this. Of course, any discussion of the morality of "theft by majority vote" remains off the table.
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