Category Archive: Social Security Impoverishes

Oct 24

Growing numbers of poor Americans find retirement elusive; they must work till they die

Sad story from the Associated Press. America has become a two-tiered society, with those in power pampered in luxury while those without government positions live lives of poverty. For years, the U.S. government has punished savers, entrepreneurs and investors. Social Security, for example, takes money from people’s paychecks during periods when they most need money …

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Sep 29

The percentage of Americans identifying as “middle class” has plummeted

An economy may be measured in many ways. But the percentage of Americans who say they are in the middle or upper-middle class has fallen 10 percentage points, from a 61% average between 2000 and 2008 to 51% today. See here. The reality is even worse: only 20% of American households actually possess the income …

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Aug 06

Increasingly, government “services” are security checkpoints for the police state

Interesting essay by L. Reichard White on Lewrockwell.com. It seems that police departments are increasingly using the admissions counters at clinics and hospitals as warrant/security/background check stations. When people enter government hospitals for “care,” they must first show ID, provide Social Security numbers and identify themselves. A front counter person punches the information into an …

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Jan 06

63 percent of Americans are one paycheck away from homelessness

If you save anything in modern America, you are an utter fool. Government policies, such as near-zero Fed interest rates, massive and growing levels of taxation and regulation, and increasing government barriers to entering most careers have hollowed out the financial strength of the American working class. New figures show that 63 percent of Americans …

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Oct 13

Social Security has Redistributed Hundreds of Billions of Dollars from Blacks to Whites

A 1996 Rand study authored by Constantijn Panis and Lee Lillard found that the average Black male loses approximately $10,000 to Social Security over his lifetime. Because Blacks have lower average life expectancy than whites, most of this money is transferred to white people. Social Security ranks second only to the institution of slavery as …

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Jul 11

U.S. Debt will Soon be more than 100 Percent of annual GDP, Official Warns

The U.S. national debt is now so large that it constitutes 74 percent of America’s annual Gross Domestic Product (GDP). Not since World War II has this percentage been so high. And today’s debt is not so much the product of a worldwide war but of the constant deficit spending required to pay for American …

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Jul 01

Greek Social Security checks are withheld from retirees as Greece defaults on national debt

Have you ever wondered about the future of American Social Security? What will happen when liabilities are larger than the credit of the country? A story today on Yahoo News revealed that retired Greeks who traditionally draw their government pensions in cash from their local banks are now finding that the banks only allow small …

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Jun 22

Research Problem: Can Anyone Devise a Method to Test Whether Medicare and/or Social Security Have Negatively Impacted General Health?

by Dr. Roger I. Roots A previous post on the fact that today’s senior citizens are generally sicker (but longer-living, due to medical advancements) than their predecessors got me thinking. Can this increased level of sickness and chronic illness among today’s populations be partially attributed to Medicare? Or to Social Security? This is not as …

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May 09

Woops! Social Security now expected to be insolvent within 5 years.

Here’s some big news. A review by Harvard and Dartmouth researchers has found that the Social Security Administration’s actuarial forecasts have been consistently overstating the financial health of the program’s trust funds since 2000. Specifically, the agency has been ignoring evidence that Americans’ life expectancy has risen more than the agency has projected. A more …

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Apr 22

Social Security is a massive transfer from the poor and minorities to whites and the affluent

Columnist Star Parker is out with a brilliant column today: Here’s the conclusion of a 2013 study published by the Urban Institute in Washington, D.C.: “When considered across many decades — historically, currently and in the near future — Social Security redistributes from Hispanics, blacks and other people of color to whites.” According to the …

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