Wednesday, July 22, 2015

Committee to F@#$%*! The Middle Class Suggests .... You Guessed It .... Increasing FICA Taxes, To "Balance Fiat"

   (Commentary posted by Roger Erickson)
I don't know how these evil or deranged idiots keep a straight face anymore. Pete Peterson may be paying them a bundle for their collusion.

For those who don't yet know, "Fix the Debt" is a euphemism for "Neuter the Fiat"

We must neuter fiat, to balance fiat?  Do any of these dimwits ever stop and ask themselves what "fiat" means?

from: Campaign to Fix the Debt <info@fixthedebt.org>
For Immediate Release
July 22, 2015
 
Fix the Debt Reacts to the Social Security Trustees Report 
The Social Security and Medicare Trustees released their annual reports today showing that despite modest improvements in their projections, both programs are in financial jeopardy. The Trustees project the Social Security Old Age and Survivors Insurance program to exhaust its reserves by 2035, the Medicare Hospital Insurance trust fund to be depleted by 2030, and the Social Security Disability Insurance to become insolvent by late 2016. On a combined basis, the Trustees project the Social Security program to run out of reserve funds by 2034, which is a year later than previous projections but less than two decades from today. At that point, all beneficiaries would face an immediate 21 percent benefit cut, which would grow over time to a 27 percent cut. 
“How many times do the Trustees need to warn us about this before we take their concerns seriously?” said former Sen. Judd Gregg, co-chair of the Campaign to Fix the Debt. “2034 is not that far away – it means today’s 60-year-olds will be 79, and today’s 48-year-olds are just reaching the normal retirement age. And the cost of waiting will only make the fixes harder. We don’t need to shore up this program just for our children; we need to do it for ourselves as well.” 
According to the Social Security Trustees, the combined programs face a shortfall of 2.68 percent of payroll – meaning the 12.4 percent payroll tax would need to be increased by just over one-fifth or benefits cut immediately for all current and future beneficiaries by about one-sixth to make the program solvent for 75 years. By the 75th year, the Trustees project the combined shortfall will grow to 4.7 percent of payroll. 
“The message the Trustees delivered today should resonate all over the country and especially in the presidential campaign,” said Fix the Debt Co-Chair and former Gov. Ed Rendell. “The disability program is only a year from insolvency and the other programs aren’t far behind. If we don’t fix these programs soon, it’s the most vulnerable who will pay the price. We need a sense of urgency in Washington to fix these programs so they are sound and secure now and in the future.”
For more information, contact Press Secretary Jack Deutsch at deutsch@fixthedebt.org.
For more information about the [Committee to F@#$%*! The Middle Class], please visit www.fixthedebt.org.
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So "both programs are in financial jeopardy." Right. Anyone ever felt that national fiat was in jeopardy? That means that every other national policy, heck, even the will of the people, is in financial jeopardy. What, exactly, does it mean to say that our public will is in financial jeopardy? It seems that the Farce can have a strong effect on small minds. That's all I sense.

This is right out of a perverted version of an old fairy tale used to manipulate the gullible. In the original version, Chicken-Shit-Little tried to convince all the neighbors that they were running out of fiat [Public Initiative]. Why? Various versions have been cleaned up for nursery rhymes, but they all involve some aspect of a crook crying wolf, to see how many dimwits step forward to be voluntarily fleeced.

A foolish population and their Public Initiative are soon parted.

Our SEC & NSA seem more worried about Nigerian scammers, when far greater sums are extracted from honest citizens by our own Committee to Neuter the Fiat, aka, Control Frauds, aka Committee to F@#$%*! The Middle Class.

Why?  Ask the people you voted for, from county commissioners to POTUS, and EVERYONE in between.


4 comments:

Bob said...

Dear Ndugu,

Let me tell you a story about how we dismantled the welfare state...

John Hemington said...

Fiat issues aside, ever notice how they never suggest extending the payment requirement to all who are eligible to receive benefits -- i.e., the 1%???

Roger Erickson said...

Yes, John, and there's never been a CWICA Tax to pay for Corporate Welfare. :(

http://mikenormaneconomics.blogspot.com/2015/06/social-security-fica-taxes-and-cwica.html

Roger Erickson said...

Look, if we don't need to tax the 1%, why the hell do we supposedly need to tax the poor?

Just to keep them down? Yup.