REVERSE ROBIN HOODS

Yes I meant plural. There are more than one of these guys out to destroy whatever retirement system you are participating in. They have done a pretty good job driving the stock market to the bottom and then 2/3 of the way back up giving you heart failure as you watched your 401K tank. A lot of people rode it to the bottom of this cycle and are feeling a little better now. It will tank again and soon. This last run up was a totally manipulated affair by government and the big banks trying to recover their balance sheets.

Now Hank Paulson(as detailed by Paul Craig Roberts)herehttp://www.progressivefix.com/obamas-deficit-commission and Mish Shedlock (herehttp://globaleconomicanalysis.blogspot.com/2010/02/illinois-pension-fund-61-billion.html,
here http://globaleconomicanalysis.blogspot.com/2010/02/illinois-pension-fund-61-billion.html,
here http://globaleconomicanalysis.blogspot.com/2010/02/pew-study-shows-trillion-dollar-state.html to just name two are out throwing their lips around saying that we must cut Social Security and Medicare in Paulson’s case, and we must destroy the the pension systems of state and federal workers.

As if the above were not a big enough attack on all of our pension systems now the Obama administration has set up a panel to make recommendations on how to cut the deficits at the same time Hank Paulson says SS and Medicare have to be on the block for cuts.

Paul Craig Roberts lists the attacks on SS of the past administrations on the system listed in the linked article above. To summarize briefly, the Regan administration (Grenspan and Stockman) had Regan phase in SS increased taxes to create a budget surplus they could then borrow to fund their budget deficits by using the money to buy T bills. They keep saying there is no money in the trust fund which is a flat out lie. If our money isn’t there then all the foreign countries holding T bills are getting screwed right along with us. The Clinton administration buggered the CPI so they could limit SS payments by understating inflation. (some estimate at least 50% higher SS payment if they had left it alone.

Let’s be perfectly clear the Republicans were against SS in the beginning and have been trying to destroy is ever since. They even call it Welfare (a dirty word in their dictionary) but since most of us pay into the system it’s total bullshit to call it welfare. Social Security can be secured easily by a few simple changes that the right hates. No surprise there. Simply lift the cap on wages so that all pay for all of their wages and I would add on top of that the the same tax on all investment income. It can be secured as far as the eye can see by making some minor tweaks in the system. Anybody who says differently is just flat out lying.

Medicare is another story entirely. In it’s present form it is unsustainable. The CBO has estimated the only way out of budget deficits and for health care cost control is to go to a Universal Care Program (call it what you like) . Good luck passing that , so when it bites us in the butt in the near future we will have to deal with it or a lot of old folks will be in the streets dying. All one has to do is look back before 1936 to see the plight of old folks at the time. Around 80% were living below the poverty level with no health care and facing a very dreary Golden Years. We fixed that with SS and Medicare and now they want to go back to the good ole days.

The State and Federal programs are funded by the employees and by the organization they work for. In the State systems they are if supposed trouble now because the states found ways to not put in their money and are faced with raising taxes to fix their self created problems. All these fear factor stories are based on projections of cost way into the future . We all know now how good they are projecting any economic matters > (remember them saying that nobody foresaw the housing bubble problem. (I know several blind men that say it) And now these same characters are projecting these failures. It is probably a badly hidden attack on wage and benefits for the unionized work force.

We have a choice I suppose , we can set here and let them destroy our Golden Years or we can for once fight back. There is deep seated hate out there for Union people because of the benefits they have fought and pain for over time. I ask all you haters out there to remember you too will be forced into the Medicare system at age 65, let it be destroyed for you own peril.

Don’t believe the lies, this is all fixable.

_______
The Grey Tiger

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One Comment on “REVERSE ROBIN HOODS”

  1. Junior Says:

    It’s hard not to believe lies when that’s all you here 24/7.


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