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The government wants you to worship the bureaucrats!

hoboduke — Sun, 19 May 2013 12:30:52 +0000

Pray that the government does not knock on your door.

It is normal procedure in a perverted reality that bureaucrats demand to know much to give us little. If applying to be a non-profit registered group of citizens, be prepared to tell all. Transcript of every speech made at the group is required. What prayers are recited and who was there? Do you or any of your family intend to run for any public office? Send us the list of all members, donors, and people you have contacted. We will send you follow-up forms to fill out over the next 2 years, if your group is labeled Christian or “conservative”. However, if you are “green”, “progressive”, or “union” then we don’t need all that and it only takes 45 days!

Internal Revenue Service can garnish wages, force sale of property, send you to prison if you are seen to be in violation of thousands of rules and regulations. However, we citizens have no restrictions or limitations that can be placed on the IRS. We can only bend over and accept our becoming slaves to the government we fund. The government can spend a fortune on harassing and attacking us, because they keep taking more money from us.

All of the members of congress that are questioning the IRS in hearings can expect a lot of audits, tax penalties, and visits from the Justice Department on irregularities in their tax filings.

Having our personal medical records, our health insurance premiums, our health insurance benefit payments, and approval of health insurance coverage all controlled by the IRS is a grim future. I am going to donate and support any member of congress standing up to STOP IRS control of new health care law.

It's crisis time in Washington D.C. if Obama in town!

hoboduke — Sun, 24 Feb 2013 15:25:17 +0000

President sinks his teeth into debt crisis by eating now and paying much later.

Fiscal cliff crisis was solved by raising taxes now and reducing spending 10 years from now! Now the SEQUESTER crisis seems to be Obama’s solution to never submitting a budget gone bad. He never expected his volunteering SEQUESTER to actually take place. He pledged in debating the Republican candidate for president Romney that “Sequester won’t happen!” Really? Obama predicting the future is worse than daily horoscope columns. He predicted that the stimulus spending of nearly a trillion dollars we didn’t have would boost the employment through shovel ready jobs. Still have not found a single person that got a job as a result of this spending. Anyway, we know Obama has no clue on what it means to have a budget, since he never submitted one in 4 years. He hasn’t read the 2 proposed budgets passed by the House, and claims he needs Republicans to compromise for his proposal. What is the proposal? It’s invisible. Anyway, Obama loves being in the spot light with being the crisis solution super hero. He also sets up Republicans as the super villain he is fighting. It just seems Obama never solves any crisis he packages into Republican problems. By the way, when will the funding crisis for social security and medicare be handled by crisis monger Obama?

It doesn't add up where the money went in Federal Government?

hoboduke — Sun, 06 Jan 2013 22:37:46 +0000

12.4% of your pay is going into Social Security every year. Most folks work 40 years. Do you know what your money earns in Social Security account over 40 years? According to the federal government of Obama that’s their business. You may or you may not collect anything from your 12.4% TAKEN OUT OF YOUR PAY EVERY YEAR!

You have saved enough in your own retirement planning, so some folks in federal government might decide you don’t need any of the Social Security money taken out of your pay every year. You are paying 6.2% and your employer is paying 6.2%. If you actually had 12.4% of your pay every year for 40 years, then that would be a tidy sum. About $240,000 if it didn’t earn one single dime on interest. What are we earning on our Social Security money? Nothing, because all of it has been used a long time ago and we got a nice IOU in the Treasury from our government. The government never pays this tab, because the government just takes more money from the working stiffs.

You have saved $240,000 but the method of calculating your income by the government for retirement is interesting. Socialists say we are not paying enough to the government now. If we were earning 2% interest on our 12.4% money deposited for Social Security, then you would have $480,000 from your $240,000 by earning an average annual pay of $40,000. Let’s say you only worked at Wal-Mart so you made only 50% of that income. So you should have $240,000 in Social Security savings. If you died right at retirement, your family gets a few bucks that might pay for a dinner at The Waffle House.

It’s exciting to think how well our money will be managed in the new Health Care taxes we are paying now. Just look at how well the government has the United States Post Office going bankrupt, too.

We can’t find where the social security money went!

Social Security, a Ponzi Scheme Unmasked: by Sheldon Richman

John K Rooney — Sun, 04 Sep 2011 22:01:15 +0000

Ponzi Unmasked

Caveat adsiduus.

Posted September 02, 2011

Texas governor and Republican presidential aspirant Rick Perry stirred up a fuss when he impolitely called Social Security “a Ponzi scheme.” Was he right?

Ponzi schemes, which appear to be investment programs, have two elements. First, no investment actually takes place. People are promised returns on their money, but those returns don’t come from profits on successful investments; rather they come from new contributors to the scheme. Ponzi tells Contributor 1 that if he turns over a sum of money, he will see a handsome return next week. One week later Ponzi makes good on his promise — not by investing C1’s money, but by making the same promise to Contributor 2. Once C2’s cash is in hand, Ponzi can pay C1, and so on. Obviously, this is unlikely to last forever.

Now it so happens that this is indeed how Social Security works, except unlike Ponzi, the government uses compulsion. People are forced to pay FICA taxes, assuming that when they reach 65 they will receive a monthly check. Where will that money come from? From revenue extracted from the current working generation. No one’s contributions are invested. Until recently Social Security ran a large surplus; it took in more than it paid out to retirees. Was the surplus invested? No, it went into the government’s general fund.
But the so-called trust fund wasn’t left empty-handed. The Treasury deposited a special nonnegotiable bond – an IOU.

Now that the trust fund runs a deficit, it must redeem the bonds at the Treasury for cash. The Treasury has its own deficit, of course, so it has no spare cash and must borrow from the public. Hence, inter-agency debt transforms into public debt. (This Freeman article imagines trying to run a family college fund like Social Security.)

Requirement #2

Social Security therefore meets one requirement of a Ponzi scheme. But there are two requirements. The second is deception. That should have already been clear. You couldn’t run a Ponzi scheme if you told your contributors the truth: “Give me $1,000 today, and I will double your money – as soon as I find two more people willing to give me $1,000 on the same condition.” That wouldn’t get very far.

The question, then, is: Does Social Security dishonestly represent itself as an investment, or insurance, program? It often has done so. The regressive payroll tax is formally known as FICA: Federal Insurance Contributions Act. (It also funds Medicare.) Besides that, the Social Security website mentions insurance on its history page, which features a picture of the father of “social insurance,” nineteenth-century German chancellor Otto von Bismarck:

The significance of the new social insurance program was that it sought to address the long-range problem of economic security for the aged through a contributory system in which the workers themselves contributed to their own future retirement benefit by making regular payments into a joint fund. It was thus distinct from the welfare benefits provided under Title I of the Act [Grants to States for Old-Age Assistance] and from the various state “old-age pensions.”

In other words, Social Security can’t be transfer, or welfare, program because it’s an insurance program to which workers contribute through a joint fund. Franklin Roosevelt insisted that Social Security be financed through separate “contributions” rather than general taxation precisely to maintain the appearance of insurance and to give workers an apparent stake in the system.

Money Long Spent

But it is a transfer program. By the time you go on Social Security your money has long been spent, and the money you receive is taken from current workers through taxation. That’s a transfer, or welfare, program in insurance clothing.

While the government has usually tried to fool people into thinking Social Security is insurance, it has operated on a different track when necessary. Will Wilkinson notes, “The Act was scrupulously drafted to ensure that the tax and the government transfers would not appear to have anything to do with each other. And the program is never described therein as ‘insurance.’”

The reason is that the government needed to protect itself — from the people. Wilkinson: “In anticipation of a constitutional challenge, Social Security officials went out of their way to purge their informational materials of insurance language.” When court challenges came, the government argued that the payments were taxes and benefits were not a matter of contractual right.

“The old-age monthly benefits program which Title II of the Social Security Act establishes is not a federally-administered ‘insurance’ program,” Health, Education, and Welfare Secretary Arthur Sherwood Flemming said in his brief in Flemming v. Nestor (1960). “The contribution exacted under the Social Security plan is a true tax. It is not comparable to a premium promising the payment of an annuity commencing at a designated age” (emphasis added).

Court Agrees

The U.S. Supreme Court agreed (twice): “Appellee’s right to Social Security benefits cannot properly be considered to have been [an 'accrued property right'],” it stated in Flemming. “It is apparent that the noncontractual interest of an employee covered by the Act cannot be soundly analogized to that of the holder of an annuity, whose right to benefits is bottomed on his contractual premium payments…. To engraft upon the Social Security system a concept of ‘accrued property rights’ would deprive it of the flexibility and boldness in adjustment to ever-changing conditions which it demands” (emphasis added). Flexibility and boldness equals congressional caprice.

As the act says, Congress is legally free to change the terms of the program at any time. There is no contract. The entitlement really isn’t. (See more here by John Attarian.)

Once the program was safe from challenge, however, the government resumed its insurance propaganda.

So … Social Security: Ponzi scheme or not?

I think we have to say it once was, but is no more, because Social Security was unmasked as a coercive transfer scheme long ago and critics remind us of that fact constantly. If everyone knows (or can easily find out) something is a Ponzi scheme, it’s no longer a Ponzi scheme. Anyone who thinks Social Security is insurance just isn’t paying attention.

Caveat adsiduus. Taxpayer beware.

Hobo for president 2012! We can't do worse!

hoboduke — Sat, 06 Aug 2011 18:51:54 +0000

: What me worry? I’m a trillionaire!

Don’t send in a college professor to do a hobo’s job! Professor Obama needs to go back to school. We appreciate his lecturing us on not eating right, not living right, not this and not that too! Just shut up already!

It’s time to get a hobo in charge. The hobo party will start their selection process right after we get drunk this weekend. Maybe we should make our choice while drinking?

President Obama decisions drunk or sober ain’t much difference in the results. All lousy. Can’t we compromise? That’s his big line on anything. Can’t we compromise? The greatest compromiser of all time is Obama.

We can’t compromise on the inflation, unemployment, homeless, dead military, and billions thrown down the outhouse crap hole of government “help” to Affhanistan, Pakistan, Mongoloia, Russia, China, Cuba, Iran, North Korea, and Illinois. The dead can’t speak out. We have killed too many of our military and started shooting in Libya with no idea on what the hell that was for. We don’t have money, don’t have a plan, and have to compromise on any and everything. Time for a hobo.

As your president, I will move the secretary of the Treasury to Las Vegas. Our credit rating is down, but we’re not out of chips. Come on 7! Roll them bones! The Department of IRS will move to North Dakota. The Department of wasting money will move to Alaska, and maybe some of them folks will quit?

Dave Obey borrowed our Social Security money!

hoboduke — Sun, 16 May 2010 16:08:29 +0000

: Leaving town without replacing our money he borrowed!

The state of Wisconsin welcomes back to her bosom the incompetent Representative Dave Obey. Our Social Security deposits over his career in Washington as a Representative have all been replaced with IOU papers approved by Dave Obey. Thank you for looting our retirement money!

Of course it’s not his fault! He was just going along with the gang that wanted to take our Social Security deposits for pork barrel projects that are long forgotten, and the money spent long gone.

When can we expect you to replace the $2.5 trillion dollar IOU? How about donating your retirement income as a start?

No way to run a railroad! Robbed!

hoboduke — Fri, 30 Apr 2010 00:42:20 +0000

Good old days before Prez B.O. helped us go broke.

Hello fellow hobo folk. You may not know it yet, but you are about to be a hobo in retirement. Social Security is a “safety net” that we funded to create a surplus knowing the baby boom population requires a lockbox of cash reserves to fund retirement benefits.

Do you know that the deposits are gone? Oh yes! $2.5 trillion we scrimped and saved during our working life is gone. I remember looking at my paycheck and seeing that large deduction taken from my take home pay for social security. But I thought, that’s okey it is going to be money to use when retired. Gone. I would like to hold a citizen’s court to question Senators and Representatives from the last 10 years on how they took all that money. We do have IOU papers from them free spending morons. Now that our economy is down in the toughest times, we are hiding the theft of our $2.5 trillion deposits?

Oh one more point, the Social Security “borrowed” from the railroad pension system also. A retired railroad yardbird said that the borrowed money has never been returned to the railroad pension fund he is living in retirement. Anybody care about Senators and Representatives stealing us blind and expecting us to accept cuts in Social Security benefits for their lunatic spending?

Senators investigate ethics of Wall Street?

hoboduke — Tue, 27 Apr 2010 22:09:33 +0000

So you can't prove you shouldn't be burned as a witch?

It’s great to see the pot calling the kettle black! (This is not a racist analogy since it refers to the natural process of cast iron over an open hearth fire turning black from soot.) I love to see them senators twisting words and puffing their chests in outrage for the average citizen being abused! It seems it would have been a lot better if them senators didn’t repeal the law form the Depression that prevented banks from making money on wall street investments. If the senator and his president Slick Willy left it all alone, none of this garbage would have happened! How about them apples?

Of course, when the senate makes a mistake, and this one was a whopper, then hearings and rascals that took advantage of the change in law are called to explain why the senators were so stupid. Senators Levity, Doodoo, and Dustbin could all get lost, and nobody would notice their absence. Hey you senators, how about the 2.5 trillion social security money you all spent and replaced with your IOU notes. Are you senators actually telling us that the money deposited in advance for a rainy day, now mean we get doused by cutting social security payments?

Anyhow, I smell some new taxes coming! Oh that is the remedy for every ailment the Senate claims cured. After all these decades of hearings, and taxes, why ain’t our country in better shape than this? Seems that maybe all these hearings, taxes, and new government forms don’t every improve over the last 100 years?

Right now the senators want to shake down, I mean question Goldman Sachs on why all the mortgages that should never been made were used as investments! If banks had to keep the stupid mortgages they wrote, then they wouldn’t let dumb people get million dollar shacks on hobo salaries. But the game is that banks had to let dumb people get mortgages they couldn’t afford so they wouldn’t discriminate against dumb poor people.

Would any of these senators tell us if any jobs will be coming before November from the shovel ready trillion dollars we spent with nothing to show? I am weary of these senators outrage. I look forward to November for a little peace and quiet after these blowhards are blown out of town.

Volcanoe Czar has not helped!

hoboduke — Mon, 19 Apr 2010 12:22:01 +0000

Since Prez B.O. selected Arlen Specter as his Volcanoe Czar, there has been no improvement! Arlen is pretending to run for election as a US Senator. What is the Volcanoe policy? The volcanoe ash is drifting toward the US airspace. What happens when the sky begins to fall?

Prez B.O. has demanded that we tax US citizens that may fly, even if they aren’t flying yet. This will provide a reserve of $150 trillion dollars to be deposited in a bank in Chicago, Funny Old Gags. The FOG Bank is ready to accept Congress IOU paper instead of actual deposits. Our Social Security deposits of $2.5 trillion over 20 years are also now IOU papers instead of actual cash.

VP Biden insisted this is a “big f—ing deal” to stuff tax money into the FOG Bank. Nobody can see why it will help, but in a bold move our Senate passed a bill they didn’t write or read yet, and House of Representatives said they already passed this bill that they did not read or write yet. Prez B.O. said that he is sure the citizens will like the bill, once somebody writes it so then we can read it next year.

No commercial media reported on this invisible bill, and noone questioned why it was retroactive to 1950. It will tax all Social Security benefits at 3000% so recipients get nothing and will owe money. Prez B.O. promised that HealthCare will save everybody 3000% percent so this seems to be the new benchmark.

The volcanoes are restless, and so are the natives.

IOU Social Security 2.5 Trillion Bucks!

hoboduke — Tue, 16 Mar 2010 03:16:45 +0000

We can trust our congress to protect us from ourselves? They spent our social security deposits over the last 45 years. Know what? We need that spent money returned, like now! The United States Treasury has a book with multi-billion dollar IOU certificates. Let me see, do we have another 2.5 trillion dollars to spare right now?

Congress in their wisdom spent money by borrowing from our future retirement benefits we funded. The cookie jar is empty, and oh yea, the foreign countries may not want to pay our Treasury 2.5 trillion dollars.

I can live until my now shortened life expectancy with government healthcare designed to reduce social security payouts. No death panel policy, just plain old fashioned piss poor performance. If H1N1 was a true pandemic, we would have lost 30% of our population with their superior bungling on the vaccine.

Anyway, if government spent surplus money from social security deposits, can we believe the healthcare 4 years of taxes without any benefits is designed to build a surplus. Sound familiar? Okey the same people who spent the surplus Social Security deposits, want us to believe we can trust them not to spend the Healthcare surplus funds?

Social Security's Nest Egg Is Officially Cracked

Virgo Yogi — Mon, 15 Mar 2010 19:35:50 +0000

By Bob Adelmann @ The New American (originally published on 03-16-2010):

In a misleading article by Associated Press writer Stephen Ohlemacher (covered in The Washington Examiner on March 15, 2010) that IOUs “stashed away” in an investment account in Parkersburg, West Virginia, were going to have to be sold to meet Social Security shortfalls, all the attention was on the location of the account instead of what was in it.

This is an EXCELLENT piece on how bad Social Security really is. I wish I could disengage from this system and privately invest MY money. You can’t trust the government to do anything except lie, cheat, steal and kill people.

Archived article for historical purposes.

PDF screen capture of this article: Social Security Nest Egg

PDF screen capture of The Washington Examiner’s article: Short On Cash