This is propaganda aimed at kids...from the Social Security Administration


Getting them young
I only wish I was making this up.

Social Security helps people help themselves!

People work and give a little money to Social Security. When some people get so sick that they can't work they get money from Social Security. When people get older and don't work anymore, they can get money from Social Security. When people die, their family can get money from Social Security.

The fact is that anyone can get a better return on their money by opening a simple savings account. With a little bit of financial know-how, you can get a much bigger return.

Government is not doing this out of the goodness of their hearts. Not only are the odds heavily against most people getting what they put in (particularly those under 45 years old), but that money isn't invested. In a scheme that would be illegal if it were anyone but the Federal government doing it, the money collected each year goes into the General Fund. The Social Security Trust Fund is an accounting trick, it doesn't exist except in government promises.

So, it costs you to participate in the Social Security program and it is nearly impossible to opt out of.

You are deprived of the earnings that money would make for you if it were on deposit or invested, so now you have lost out twice on capital opportunities.

The Federal government uses that money to plug holes in the General Fund instead of putting that money aside.

And the Fedgovs count the "Social Security earnings" when they negotiate borrowing money, which in turn deprives you of more earning power.

Hat tip to Hammer of Truth.

— NeoWayland

Posted: Tue - December 20, 2005 at 06:02 AM  Tag


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