These days, it's not often that the Democrats don't fall into a frenzy of fainting and a pearly dense frenzy.
Want to reduce waste, fraud and abuse from government spending? “Ah, what a Draconian!”
Want to secure borders and stop the deadly flow of fentanyl to our country? “Racist!”
One surefire way to guarantee Democrats is to ensure that President Trump comes out in support of it. And this Pavlov's response was on display completely when the presidential adviser and the heavily-paid Elon Musk recently called Social Security the “largest Ponzi plan of all time.” Because that's the case.
Honest people can be troubled with some of the government's efficiency moves in masks. He admits that he himself made a mistake. He also established a track record of quickly correcting mistakes.
But in Social Security, masks are simply right and incol enough to say things no one wants to hear.
And the liberals were not disappointed with their reaction to defend the current state of mo-death in the program. NBC News opinion writer Provided a representative non-sekiter defense Regarding how the program works, he argues, “Social Security is a very functional, universal and very efficient part of the American social safety net. That's the opposite of the Ponzi plan.”
But the problem is simple and mathematical. It was there when the program started 40 workers pay benefits For all retirees. Now, thanks to a combination of reduced fertility, increased lifespan and other factors, There are only 2.8 workers Each retired person. And now, all the pennies collected from current workers and the additional money Congress borrowed against the rapidly empty trust fund are poured into current retirees.
Does this sound familiar? This is because the Ponzi scheme works. They take money from new investors and pay returns to previous investors. For a while, people are happy because they have been paid. But in the end, the scheme collapses as too many people are requesting payments and not enough new contributors.
So Social Security is not “opposite the Ponzi scheme.” It's just a Ponge scheme where collapse is still in the future.
Needless to say, the Communist “the world of people” agrees with NBC News. write“Contrary to right-wing slander, Social Security is the most efficient program in the United States, and if the wealthiest recipient pays a significant amount of tax, it would be a solvent for at least 75 years.”
Of course, Democrats resisted any attempt to reform Social Security and extended their lifespan. The only solution they're trying to accept is a lame tax hike. They oppose the test of means, claiming that this will turn the program into welfare rather than “investment” by subscribers. Recipients receive more than they pay pretty.
The biggest and most serious driving force for reforming the program came when President George W. Bush proposed that young workers take away some of their Social Security withholdings and allow them to invest in the stock market. It would also have the added benefit of being hereditary to the family. Social Security simply passed after the death of a retired loved one, except for the benefit of its modest survivors.
The idea of investing just 5% of withholding remained in traditional programs, but Democrats could be too risky and have been severely scarce in retirement resources probably due to stock market volatility.
When Bush proposed enacting the reform in his second term, Dow Jones' industrial average was below 11,000. Even after the recession in the past few weeks, it is now 41,000 north. Imagine how much better the majority of participants would be if they had offered voluntary investment options 20 years ago.
The truth is that social security is broken just like the Ponzi scheme. There are too many beneficiaries and not enough people paying for the system. Young workers today risk funding the retirement of others through Social Security. Retirement in 30, 20 or even just 10 years will change seriously.
Some Democrats hope to eat up the date of the scheme's collapse (and perhaps import a few new voters while they're in it). We hope to open our borders and find new contributors. However, voters have recently made decisions about the plan.
Meanwhile, Republicans helped Democrats take the issue to a critical spot by abandoning their reform stance. Even Trump, who doesn't respect political taboos, is not hesitant in the face of this issue. But at least some Republicans have tried to correct past mistakes and stop the bleeding at various points.
On this issue, the truth is why they responded to such vitriol to Musk's comments, as they are not friends with the Democrats. But the truth does not depend on who's comfort level. It's just for free. And the truth is, if the government runs a company's retirement program in a way that runs Social Security, you go to prison.
Derek Hunter isDerek Hunter Podcast HostFormer staff member of the late Senator Conrad Burns (R-Mont.).
