“For the early generations, it was an incredibly good deal,” said Andrew Biggs, a former deputy Social Security commissioner who is now a scholar at the American Enterprise Institute. “The government gave you free money and getting free money is popular.”
If you retired in 1960, you could expect to get back seven times more in benefits than you paid in Social Security taxes, and more if you were a low-income worker, as long you made it to age 78 for men and 81 for women.
As recently as 1985, workers at every income level could retire and expect to get more in benefits than they paid in Social Security taxes, though they didn’t do quite as well as their parents and grandparents.
When President Obama endorsed going back to school shortly after he came into office, very few Americans understood what the full ramifications of this would be. Coupled with the fact that under Obama, the government has taken over the Student Loan industry, millions of Americans have become debt slaves to Uncle Sam.
And to deal with the 30% of student loan debtors who are delinquent in their payments, the government has moved towards stricter ways of getting its money back, and this now includes withholding Social Security payments to worthy recipients… see here
You have to give liberalism a certain amount of credit. It doesn’t work, destroys lives, and pits people against each other, but that’s not to say that there are no advantages to being a liberal. Sure, you may end up sleeping in a tent in Zuccotti Park, reading Noam Chomsky’s laughably ignorant books, or having to watch Rachel Maddow babble incoherent nonsense on MSNBC, but the fringe benefits cannot be beaten!
1) If you’re a politician, no matter how dumb you are or how poor your decision-making is, the press will still never question your intelligence. Continue reading