Myrtle Beach Real Estate by Mirela

Koch Brothers Funding Misinformation About Social Security

  1. Social Security belongs to you—the workers who contribute to it—not the politicians in Washington.
  2. Social Security will never go bankrupt. Its major source of income comes from the contributions of workers and employers; as long as there are workers, Social Security will have income. Closing tax loopholes for wealthy individuals will increase the long term financial health of the program, and protect it for decades to come.
  3. Raising the retirement age is a terrible idea and a large benefit cut. If you were claiming benefits as a 66 year-old retired worker and the full retirement age was changed from 66, where it is today, to 69 your benefits would be cut 20 percent. A typical benefit would drop from $14,000 a year to $11,200 a year.
  4. Privatizing Social Security would be a disaster. Social Security is so valuable because it provides a guaranteed benefit. Privatizing Social Security would remove this guarantee and have people gamble their retirement savings in the casinos of Wall Street. If the recent financial crisis taught us anything, Wall Street is the last place where our money is safe.
  5. For more information, check out the Strengthen Social Security Campaign.

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Comment balloon 6 commentsMirela Monte • June 23 2011 01:00AM

Comments

Please share this information and video with your friends, relatives and co-workers!

Posted by Mirela Monte, Myrtle Beach Real Estate (Buyers' Choice Realty) about 8 years ago

I took my social security benefits the FIRST month I could and I am INVESTING the monthly funds in DOMINION RESOURCES stock purchases...when I DO need the money, I will have more than the government will have provided * I wish I could have invested my OWN money my OWN way.

Raising the amount of annual earnings SUBJECT to social security contributions is the KEY.  This will get MORE funding into the system FAST!

Posted by Wallace S. Gibson, CPM, LandlordWhisperer (Gibson Management Group, Ltd.) about 8 years ago

We do have a spending problem.  The baby boomers are retiring and they cause problems where ever we go.  There will be more retired than workers and it will be a problem.  I do not know the Koch brothers and I know we do and will have a problem with too many of us getting and too few contributing. 

The real problem is the elected officials that spent the money we paid into social security and did not keep it in the lock box they talked about.

Posted by Tim Lorenz, 949 874-2247 (TIM LORENZ - Elite Home Sales Team) about 8 years ago

The other issue is that inflation continues to eat away at the value of the benefits we receive.

The government miscalculates the rate of inflation so that they can minimize the COLA (cost of living adjustments) to social security recipients.  Thus, even if the government doesn't make an outright cut of benefits, or raise the retirement age, they exact a tax on us all through inflation -- the social security dollars you receive in retirement will buy less of the stuff you need.

The solution is to have the government start living within its means. 

Posted by Eric Crane -- Your Full Service, Discount Fee Realtor®, Greater Metro Phoenix Arizona (DPR Realty LLC) about 8 years ago

Politicians and network moguls are running out of huff and ways and to manipulate voters with spine-chilling fairy tales about national security and terrorism. Sensationalism and fear are the feeding frenzy for the great unwashed hoi polloi, and Social Security is the next logical step in a media onslaught designed to create terror and sell newspapers and products for balding and obesity, while, at the same time, attempting to fighten our ranking population. This villainous propaganda targets our seniors. Social Security is housed in a bomb shelter from the media and has more strength than a diamond. It's Roosevelt's eternal flame. I appreciate your post, however, Mirela, and any efforts to strengthen the resolve to protect the system.

Posted by David Saks ((retired)) about 8 years ago

Myrtle

10,000 people are retiring a day and we are not adding 10,000 jobs a day.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 8 years ago

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