Your Social Security Statement

I just received my Social Security Statement in the mail the other day. I decided to read it as I’m fascinated by hustles of all kinds. This information packet is surprisingly open about the hook. It is described on the first page under “What Social Security Means to You”:

Today there are almost 36 million Americans age 65 or older. Their Social Security retirement benefits are funded by today’s workers and their employers who jointly pay Social Security taxes – just as the money they paid into Social Security was used to pay benefits to those who retired before them.

For a description of a Ponzi scheme go here. The basis is using later investors to pay off earlier investors (while never applying the money to any actual “investment”) until the whole thing goes bust when you run out of new suckers, but I’m anticipating. Here is the next part of the What Social Security Means to You:

Unless action is taken soon to strengthen Social Security, in just 14 years we will begin paying more in benefits than we collect in taxes. Without changes, by 2042 the Social Security Trust Fund will be exhausted. By then the number of Americans 65 or older is expected to have doubled. There won’t be enough younger people working to pay all of the benefits owed to those who are retiring. (emphasis mine)

See, they didn’t put your money away for you. They money you pay is being spent by people who are already old now. Then when you get old you in turn have to parasitically siphon somebody else’s lifeblood out until the whole thing goes bust. It’s not your money working for you, it’s a Ponzi scheme.

This is why the government doesn’t let you put your own money away for your own retirement: the government is smarter than you. Who among us would have been smart enough to create a hustle that would last almost a full century until goes belly up?

And don’t think for one minute that the whole thing is an unintended hustle. For historical perspective, it must be pointed out that the New Deal emerged on the heels of the Great Depression and a disasterous Presidency for Herbert Hoover who was perceived by the US electorate as a man without answers. And that is exactly what FDR was seeking was answers, whether they would stand the test of the long term or not.

Economic advisor: Am I hearing you right Mr. President? This social security thing. .. have you ever heard of a man named Charles Ponzi? This thing will never work. See, about 20 years ago. .

FDR: Whats that? Facts and logic? Did I just hear someone in this room say ONE TERM PRESIDENT!!!???

Economic advisor: I withdraw my objection.

And here we are in 2005 finally realizing it was all a scam and I’ll be damned if I don’t hear people talking about what we need to do to “save Social Security”! Oh, by all means. When you finally pick up that you’re being hustled, the right answer is to THOW MORE MONEY AT THE GUY WITH THE SHELLS!!!!! Hey, I lost your $100 in his poker machine but just front me a little more this time and I’ll get it all back for you.

No.

Turning this little document over in my hand, I see that the very title of the first section tells me everything I need to know. What does Social Security Mean to You?

Let’s take this in two pieces. The first part, social, means people. And I don’t like them. The second part, security, means money. So what does social security mean to me? It means keeping my money out of other peoples hands.

Social Security: let it die like all ill advised schemes. And then don’t come up with any more grand plans. Let me lose my own money on hustles of my own choosing. Or better yet, let me keep my own money to plan for my own damn retirement.

38 Responses to “Your Social Security Statement”

  1. rae says:

    I thought you were Mexican. Don’t YOUR PEOPLE believe that it is their obligation to take care of their aging parents and grand parents?

  2. Mexigogue says:

    Yes but not through government schemes. We take care of family informally like God intended.

  3. rae says:

    Hmmm- so you don’t want to take care of your friends or extended families parents and grand parents?

  4. Mexigogue says:

    Those old people could been financially set by now if they hadn’t been robbed in order to take care of the old people before them. It never ends and that’s socialism. We get robbed so much by the government that the only answer left is to turn around and depend on the government.

  5. guy in the UNLV Jacket says:

    but what about the people who just don’t feel like working?

  6. Mexigogue says:

    There’s a time and a place for that and it’s called PUERTO RICO!

  7. MiAn says:

    >>And don’t think for one minute that the whole thing is an unintended hustle.

    Well you got that right, but this wasn’t just about electability. Socialism and big government were so unpopular in the days of FDR that he coined a new usuage for the word “liberal”. Rather than being about throwing off the oppressive regime of government interference with respect to personal ambition and the markets it creates, FDR pretended liberalism was about taxing the rich for giveaways to the poor. He claimed that business was the new government (like orange is the new pink), and only government could impede its war on the little guy.

    The endgame is that once the system goes bust, Americans will be desperate, and darting to and fro like headless poultry looking for the next Kennedy to do SOMETHING. Suddenly American inhibitions about socialism begin to disipate. Universal Healthcare and similar schemes go from being seen as “insane” to acceptable (in light of the crisis).

    Today there are constant barriers against actual socialism, and Democrats are always frustrated at the socialist-lite agenda they have to pedal. Once a nice Medicare or Social Security disaster strikes, they won’t have that problem anymore.

    >>Social Security: let it die like all ill advised schemes.

    Not all ill-advised schemes have their funding voted upon by the masses. When you can just say, “yeah, sure, take some more of his money for the program”, normal rules do not apply.

    Privatization sucks the air out of the crisis room and sets precedents for people controling their own fates again. The way out of big government is not its own collapse, because it isn’t going to go down alone.

    We have to infiltrate and undermine. We’re going to go after their supply lines, we’re going to hit troop morale, and we’re going to woo the other side with cheap beer and floozies. This is a serious takedown, and it’s gonna take serious time.

  8. Jeremy says:

    Good post, Mexi.

    How’s the INTJ group doing?

    And I would expect you to come down a lot harder on Libertarian Girl. She’s an idiot and I’m trying to get together bloggers to form an Anti Libertarian Girl webring (mostly as a joke).

    Email me if you’re interested 🙂

  9. Mexigogue says:

    Thanks Jeremy! And MiAn’s comment is a post unto itself!!

    The anti libertarian girl thing seems like a great idea! I bet R would be down for it too.

  10. Jeremy says:

    I guess you’re like me: you can’t bring yourself to totally dis somebody on their own blog.

    But I’m pretty happy with calling her a racist (I think that’s the first time I’ve ever done that! It feels good – I can see why people get used to it)

  11. Jeremy says:

    BTW have you seen this:

    LMAO

  12. Mexigogue says:

    THAT is priceless! I pay you tree fiddy!

  13. Phelps says:

    I keep telling MiAn he needs a blog. And Rae, I fully and 100% believe in taking care of my kin, immediate and extended. What I don’t intend to do is take care of everyone ELSE’S kin. As a matter of fact, the more I have to pay to take care of other shiftless people’s kin, the LESS I have to take care of my own kin. The money that the feds took from me when my grandmother was alive was money that I didn’t have to take care of her. The money they are taking from me now (over five digits a year once you figure in stealth tax — I have kin that make less GROSS than I pay in taxes a year) is money that I can’t give to my parents (in addition to what I already give them.)

    If you had taken what the Feds took from me, my mother and my father when my grandmother was drawing social security and simply let us hand that money over to her, her income would have doubled. I know — I did the numbers. Social Security robbed my grandmother of half her retirement income. (Well, more like a 1/3, since you would really have to count what we gave her beyond that.)

  14. rae says:

    Maybe it’s just the Democrat in me, but I believe it is my duty, as a human being, to selflessly take care of all of the elderly. I know it’s a little bleeding heart but I’m hoping that the karma of it works out to my benifit-if not financially – then at least emotionally when i’m “elderly”.

  15. Mexigogue says:

    GODDAMMIT RAE THERE IS NO SELFLESS ACTION! GET OFF THAT ALTRUISM NONSENSE BECAUSE IT’S POISONING YOUR MIND!!! ANYONE WHO WORKS AGAINST THEIR OWN SELF INTEREST HAS SOMETHING SERIOUSLY WRONG WITH THEM!!

    note: helping friends and family is NOT working against your interest because you are helping someone who you value and who will come to your aid when you need it. Helping people you never met and who in all likelihood will never help you is just spinning your wheels.

  16. rae says:

    FINE THEN- I THINK IT’S MY DUTY AS A GOOD PERSON TO DO IT BECAUSE I WANT TO FEEL LIKE A GOOD PERSON OKAY ASS MUNCHER? NOW FUCK OFF CAUSE YOU ARE MAKING ME ACT LIKE A BAD PERSON RIGHT NOW!!!

    note: I forgot to take my anti-depressant today so forgive my asshole response. Or don’t since you don’t want to be a good person. geez.

  17. Mexigogue says:

    Haha! I’ll turn you to the Dark Side of the Force yet!

  18. Phelps says:

    Here’s another way of looking at it — you may be helping them short term, but you are hurting everyone long term. You are breaking the tradition of taking care of the elderly by telling everyone that the government will take care of them. Also, there is another element to it — the elederly themselves. When you know that your kids are going to have to support you in your old age, you are going to treat them a little better when you are younger. You aren’t going to alienate them. You are going to raise them to be productive (since they have to make enough to support both you and them and thier kids.) Your children become your investment, rather than the government (which would just as soon have you dead, since then you wouldn’t be another expense.)

  19. guy in the UNLV jacket says:

    Social security isn’t all about the elderly it also goes to help the disabled. This is something I have no problem with..

  20. Mexigogue says:

    My problem is with the government taking your money because you’re ostensibly too stupid to know how to prepare for your own retirement. Helping the disabled is an entirely different story.

  21. guy in the UNLV jacket says:

    I say they still take the majority of the Social Security tax out and place it into some sort of tax free 401k style account instead of putting it into some giant social security bucket where various politicians can raid the cash for various political schemes…..

  22. guy in the UNLV jacket says:

    Not to be a dick but I have a question…How much have you put away for your retirement? Would that number be any different if you didn’t have to pay social security taxes? Be honest…

  23. Mexigogue says:

    As it stands right now SS is going to go belly up by the time I get old so I’m going to have nothing beyond the retirement $$$ I’ve accrued so far through my job (10 years so far). In theory if SS did not exist they wouldn’t be taking that $$$ out of my check so in addition to what my I’ve got thru my job I would also have some more cue sticks, some fly clothes, and gold teef.

  24. Mexigogue says:

    Point being I could blow all my money my damn self without having the government blow it for me on a Ponzi scheme.

  25. guy in the UNLV jacket says:

    You didn’t answer the question you deflected it. the you proceded to go on a rant about gold teef, gold teef suck by the way it’s all about platinum now days suka. Please answer the question…

  26. Mexigogue says:

    I said zero beyond what I’ve got thru my job you jive ass turkey! But ME is not the point of this social security blog. I plan to be safely dead by jealous husband by the time I reach retirement age thank you very much! Or when I get old I’ll rent myself for medical experiments. I’VE GOT IT HANDLED DAMMIT!

  27. guy in the UNLV jacket says:

    I can just see it now. Some angry old Mexican guy with a half shaved head and various probes sticking out of his body talking bout you wanna go shoot some pool over to Leroy’s……

  28. Mexigogue says:

    I can donate other peoples blood!

  29. Mexigogue says:

    duuuuude, this chick on the INTJ-Open mailing list asked what’s a good website for a five year old girl. I answered: http://www.tubgirl.com

    HAHAHHAHAHHAHHAHAHHAAA!!!! For those of you who don’t know, do NOT open that at work! In fact you might not want to open that up at all ANYWHERE!

    God, I kill me!

  30. guy in the UNLV jacket says:

    What is it?

  31. Mexigogue says:

    It’s GROSS!!!! I can’t describe it. SICK!!!!

  32. Citizen Publius says:

    The Social Security scam has conditioned people to think that somebody ELSE (i.e.”the government”) is going to take care of them in there old age. People need to understand that they must take care of themselves.

    The LAW of SUPPLY AND DEMAND must be allowed to work in order to create prosperity. It is a LAW OF NATURE, like gravity or something, and can NOT be improved upon by socialistic tinkering.

    A much BETTER Ponzi scam is described in the book “The Creature From Jekyll Island” by G. Edward Griffin. It’s a long read but not nearly as long as “Atlas Shrugged.”

    Enjoy.

  33. Mexigogue says:

    Thank you!

    Man, the connections you get thru blogging ROCK!!

  34. Citizen Publius says:

    Thank you, Mexigogue.

    On a MUCH DIFFERENT TOPIC, Tub Girl gives new meaning to the phrase “blow it out your ass.”

  35. The "D" says:

    Mike my blog is messed up. It will not let me post on my own blog.

  36. The "D" says:

    I fixed it Mexi! Thanks anyway

  37. Phelps says:

    How much would I have invested? Damn near all of it, and here is why — I would have put that money into buying a house. A house is most people’s biggest investment, and making sure that your own your house outright by the time you reach retirement age is the smartest thing you could do. You are exempt from property taxes in most states when you get past 65, so that means all you have to do is pay your insurance and utilities. If you assume your mortgage payment as part of your retirement, then you might realize that you are putting away a lot more equity than you thought at first (and if you are renting, consider what you are losing by not putting that money into something that gains equity.)

  38. R says:

    If I didn’t pay into SS, I’d put more money into my 401k. In fact, my company has increased its annual limit of how much I can put into my retirement fund (though its matching percentage remains the same).