Saturday, February 23, 2008

The Truth of the Lies

There is a new book out call called Where does the money go?, written by Scott Bittle and Jean Johnson. Here they are on Bill Moyer. It reminded me of this post from EfA from the first year. Just remember this though, if our politicians had not stolen our retirement from us, we would have perhaps 10 trillion dollars in savings. And interest alone on that amount, not to mention a broad portfolio of equities, would yield perhaps 400 billion a year, enough to pay our current annual social security outlays. As Simon almost said, "It was too much money in the hands of the public".

So they stole it. ( 2008 Budget is here)

The Rule of Holes

Generally, I only talk about planetary issues, like climate change, and peak oil, and human culture, but the current debate in the geographic state of the United States over the so called reforming of Social Security is a clear violation of the rule of holes. It is therefore worthy of some comment under the human culture anomaly section.

The rule of holes, in case you don't know, is this:

If you are in a hole,

Stop digging.

In this case, that means stop draining cash out of it.

Look at the budget. Click on section 2 and go to page 34.

Now look at column one for the year 2004.

That is individual income tax receipts.

Individual income tax receipts have gone from just over a trillion in 2000

to just over 3/4 of a trillion in 2004.

When Clinton came in to office in 92,

It was 1/2 a trillion.

According to the White House's own numbers,

they won't get back to Clinton's revenues until their 7th year.

But so far, the revenues are still going the wrong way.

Take a look at that column and go way back.

This kind of regression in tax revenue is almost unprecedented.

The next column is corporate taxes,

and you can see that corporations don't help very much.

After all, they make the profits, why should they have to pay the taxes?

The next column is total payroll taxes which is about 3/4 trillion too.

Now, go to page 76 and see how much money Social Security spends.

That number is about a 1/2 trillion.

So, each year, the Congress takes part of our social security

and they use that money to pay for other things,

like bombs, and medicare, and tax cuts.

If a small businessman does that, he goes to jail.

So, if you include the money they are taking from our retirement,

last year's deficit was really a 3/4 trillion deficit.

Not the 1/2 trillion that was a record anyway.

If you wanted to save Social Security,

the first thing you would do is stop draining cash from it.

When the Congress took our retirement "Off Budget"

They stole it.

"Stopping this theft" is what the guy who got the most votes 4 years ago

said we should do with this program.

Everyone made fun of his lock box.

It's not so funny now.

It's like having Willlie Sutton tell you that the bank is going bankrupt

each time he robs it.

I guess if anyone would know,

He would.

I'm not going to link to any stories about this issue.

They are all way too shaped.

Read the budget for yourself.

Find the holes in the story.

And the truth of the lies.
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