In response to:

Socialism by the Dose

doc, aka Rich Wrote: Jun 03, 2012 1:15 PM
Social security is not socialism automatically. It’s how social security is implemented that defines whether what we have is socialism or capitalism. I can contribute to a 401K for my retirement. The funds are mine and I choose the investment firm that administers & maintains my account. The federal government could run an equivalent function should it choose, notwithstanding the constitutionality of whether it has such an authority, but that point is moot since Social Security has already been deemed constitutional by the SCOTUS. Was Social Security as originally created like a government run 401K? One can argue this, but it is likewise moot since congress stole the money in the 1968 unified budget.
Parker01 Wrote: Jun 03, 2012 8:55 PM
"Was Social Security as originally created like a gov. 401K?" NO. It was always set up as a free handout. The early recipients paid very little in terms of real money and percentage until the mid 70's and the actuarial tables anticipated a much earlier death rate. The whole thing from day one was a ponzi scheme and anticipated lower costs through attrition (death) and higher birth rates, hence higher receipts and lower payouts. The SCOTUS eventually declared it constitutional after FDR packed the court and the previous decisions striking it down. It was never intended to be what it has become and it was never intended to be anything remotely resembling a 401k.
firetoice Wrote: Jun 03, 2012 9:22 PM
No program which requires both the employer and the employee to pay taxes to receive an "earned benefit" provides a "free handout". It might be cheap, but its not free.

Anticipating lower costs through attrition and higher revenues as the result of higher birth rates is lousy actuarial analysis, whether it is the result of stupidity of cupidity.

Raiding the trust fund through the Unified Federal Budget was cupidity of the highest order.

Medicare apparently never rose to the level of a Ponzi scheme, since revenues never exceeded benefits.

And then, there's Obamacare! "Those who cannot learn from history are bound to repeat it."

In 1947, at the first meeting of the Mont Pelerin Society, the free-market conference in Switzerland, august Austrian economist Ludwig von Mises harrumphed that young Milton Friedman and many other budding anti-socialists of those dark days of mid-century Western culture were, in reality, “all a bunch of socialists.”

Mises stormed out of the room.

I thought of this when I heard that Jon Stewart had defended himself from Roger Ailes’s “socialism” charge. Ailes said that the Daily Show host had once confessed, in a bar, to being a “socialist.” On Stewart’s...