Too Much Truth

Just when you think the GOP has sprouted a backbone and is willing to step up to the plate on serious issues such as the Social Security scam, they wimp out again. As I have explained on several occasions, one of the fundamental methods for the SS system to be able to stay at least partially solvent is for beneficiaries to die before receiving any payouts. That was why the official retirement age was originally established as 65 when the average life expectancy was just 57, when the SS system was established in the 1930s. Most people are supposed to pay into the imaginary trust fund throughout their working lives, and then kick the bucket before taking any money out. The unclaimed funds are not considered to be part of the decedent's estate and are essentially forfeited. This is why self controlled accounts are so much fairer.

Certain ethnic groups are known to have lower life expectancies than others, making the scam even worse for them. However, it isn't politically correct to actually point out this fact. Using the term "reverse reparations" may have been a bit over the edge; but it is technically correct. GOPAC has caved in to the PC Police and is shelving their ads on this point. And it looks like the entire GOP is again chickening out from even discussing any changes to Social Security, especially any mention of private control.

KMK
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 9/17/2002 07:24:00 PM Send this post: