Title: YOUR ENTITLEMENTS? Social Security, Medicare and Pensions...I Don’t Think So! Source:
[None] URL Source:https://www.youtube.com/watch?v=hrUCJ9tWpT0 Published:Mar 16, 2018 Author:ITM Trading Post Date:2018-03-19 07:21:16 by BTP Holdings Keywords:None Views:74 Comments:6
By ITM Trading's Lynette Zang
In 2007 many global private pension funds were fully funded. The baby boomer retirement was still in the future. Governments were hopeful that the leverage and deregulation fueled rally would continue and pull government pensions out of the fire too. Then 2008 hit.
Who Owns the Wealth and Who Owns the Risk?
According to Willis Towers Watson Global Pension Asset Study 2018, DC are 49% of retirement plans and as this study points out “DC becomes the dominant global model. Individuals own the risk but have little control.”
The Current State of SS, Medicare, Public Pensions & Private Pensions
Medicare ran its first cash deficit in 2007, Social Security did the same in 2017. States unfunded pension liabilities now exceed $6 Trillion. Corporations would rather boost share buybacks than fund their pensions, but the PBGC is an option.
VENEZUELA OFFICIALLY RESETS THE PRICE OF GOLD
The Venezuelan government prepared for the death of their currency and in 2011 Venezuela confiscated and repatriated monetary gold. They wanted to hide the hyperinflation that ensued, so they “managed” the spot gold price. Bankers and corporations knew better, and markets reflected that, but not the official price, that remained flat. Until February 9th. On that day, gold in terms of bolivars, jumped 2,488.162 times! And that my friends, is how it is done.
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If you pay into a system (Social Security, Medicare, pension) you are entitled to receive that money back at the right time alloted. If no the people have broken the contract. I worked for the fed for 35 years, I have talked to elected people who talk about cutting my pension, I tell them, "If you do that, I know where you live"
The Supreme Court disagreed, saying “To engraft upon the Social Security system a concept of ‘accrued property rights’ would deprive it of the flexibility and boldness in adjustment to ever changing conditions which it demands.” The Court went on to say, “It is apparent that the non-contractual interest of an employee covered by the [Social Security] Act cannot be soundly analogized to that of the holder of an annuity, whose right to benefits is bottomed on his contractual premium payments.”
The Court’s decision was not surprising. In an earlier case, Helvering v. Davis (1937), the Court had ruled that Social Security was not a contributory insurance program, saying, “The proceeds of both the employee and employer taxes are to be paid into the Treasury like any other internal revenue generally, and are not earmarked in any way.”
In other words, Social Security is not an insurance program at all. It is simply a payroll tax on one side and a welfare program on the other.
The IQ and the life expectancy of the average American recently passed each other in opposite directions. - George Carlin
“The proceeds of both the employee and employer taxes are to be paid into the Treasury like any other internal revenue generally, and are not earmarked in any way.”
Then why is it separate and why isn't it descibed as it actually operates ? This sort of OPINION begs the question, why can't these fucktards just explain things plainly, in plain English (or Swahili) as it actually plays out ? Why ... need you ask ??? They are liars and thieves, and have been such since the beginning of time.
Ephesians 5:11King James Version (KJV)
11 "And have no fellowship with the unfruitful works of darkness, but rather reprove them. "
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
I have talked to elected people who talk about cutting my pension, I tell them, "If you do that, I know where you live"
You threatened and elected official? Why? Over your pension?
Don't you know that the pension funds make investments with the contributions they receive. As long as those investments improve in value and make money, there is enough to pay out to pensioners and also pay the salaries of employees of the pension fund.
Now, I wonder, in Illinois, where a majority of the pensions lost money because their investments declined in value, reduced the payments to pensioners by 20%. Should we ask if they reduced the salaries of pension fund employees by a similar amount? ;)
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke