Letter to the Wichita Eagle – Social Security

What’s wrong with Social Security?  Why all the complaints?  What doesn’t one understand about politicians and their politics?

First: Social Security was created by a politician’s spin, never intended to be a retirement plan.  But it was a way for FDR to get a piece of the paychecks of those with jobs in 1937, and into the businesses’ cash registers to fund a communizing project (Casa Grade).  That fell flat on it’s face.  That is why the funds flowed into the Treasury, where FDR could get them, instead of into a retirement plan.

Second: In SS’s ponzi scheme of embezzlement, the government now denies retirees 70% of what they would be getting along with having their medicare paid for.  Yes, SS could have paid for Medicare and Medicaid if it had been a retirement fund.

Third: What is wrong?  Social Security is not privatized.  President George W. Bush tried, but the Democrats and RINO’s stopped it from happening.  Why?  Some one tell me!!!

Fouth: What Social Security could have been and should be!  Returns on minimum risk investments ranged from 7% to 12% from 1937 to date.  Using a 10% return to a privatized SS account accumulating funds of $2,000 annually for 42 years, that fund would have accumulated over $600,000.  (Some funds have been figured as high as $1.2 million, privately owned).  If 1/2 were used to pay Medicare insurance, the fund would still pay the retiree $30,000 annually (3 times as much as SS does), and $300,000 would stay intact for their heirs.

A handful of states and companies opted out of Social Security for their private funds.  Today, they are financially sound.  Only, Social Security is not.  America needs an honest government and media, not spin experts!

Toby Elster


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