How Does Social Security Work?
(hat tip John Lounsbury)
There's too much in this article to discuss all at once, but it starts with a zinger that's presumably supposed to stimulate our thinking. Anyone actually thinking yet? Well, here's what it immediately made me think of. Our population spends more on all other programs combined, than it spends directly on the social security of itself. What are we to make of THAT fact?
Uh ... not much. Most direct spending on Social Security then gets spent throughout the economy, on the services that recipients want and need. The same is NOT true of un-pre-taxed spending on Corporate Welfare, which tends to accumulate as mounting Demand Leakages (i.e., much of our "fiat" is hoarded, unspent by our 1%, who simply hoard compulsively). You don't say!
Have YOU heard endless tales of people building up stupendous nest eggs of un-used fiat currency, stockpiled primarily from unused Social Security payments? Me neither.
What's the distribution of products and services that Social Security recipients spend their benefits on? Anyone know?
Have you noticed any extra Military Drones as one of those expenditures? And, note that neither Bernie Madoff or Jaime Dimon are dependent upon SocSec payments.
ps: "The Social Security program is funded by two sources of dedicated tax revenues."
Only in their dreams! I suppose all the other fiscal outlays this country makes are also funded by prior taxes on the fiscal outlays it makes. Wait, is that an oxymoron? Yup. They both are. For the umpteenth time, please see p.35 here.
Only in their dreams! I suppose all the other fiscal outlays this country makes are also funded by prior taxes on the fiscal outlays it makes. Wait, is that an oxymoron? Yup. They both are. For the umpteenth time, please see p.35 here.
ps: ps: The USA spends more on all the things it spends on, than all the things it DOESN'T spend on!!! What are we to make of THAT screaming reality? Well?
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