From: mikey4 on

"Ray Fischer" <rfischer(a)sonic.net> wrote in message
news:4ab57392$0$1628$742ec2ed(a)news.sonic.net...
> Bill Graham <weg9(a)comcast.net> wrote:
>>
>>"Atheist Chaplain" <abused(a)cia.gov> wrote in message
>>news:4ab4e424(a)news.x-privat.org...
>>> "Bill Graham" <weg9(a)comcast.net> wrote in message
>>> news:eKKdnZJa7rsyFCnXnZ2dnUVZ_vudnZ2d(a)giganews.com...
>>>>
>>>> "Father Guido Sarducci" <don(a)novello.com> wrote in message
>>>> news:Xns9C8A70F3BA778FatherGuido(a)202.177.16.121...
>>>>>> Social Security and Medicare are government run insurance
>>>>>> policies. Ever hear of FICA which is the ~15% of your salary
>>>>>> the government collects? It is half hidden for employees
>>>>>> because the employer pays part directly instead of putting
>>>>>> it into your paycheck where you can actually see it being
>>>>>> removed. FICA = Federal Insurance Compensation Act.
>>>>>> Unfortunately it was set up as a Ponzi scheme that is
>>>>>> falling apart. I could get some nice health insurance and an
>>>>>> annuity if I had the ability to keep the FICA money. You
>>>>>> even pay income tax on the part you do see on your pay stub.
>>>>
>>>> Yes, and they have the nerve to give Madoff 150 years for doing what
>>>> they
>>>> have been doing since 1930.....And Bush wanted to actually invest the
>>>> money in American business, and the Dems screamed bloody murder!
>>>
>>> I beg to differ
>>> http://www.latimes.com/news/nationworld/nation/la-na-norton17-2009sep17,0,6215749.story
>>
>>This story has absolutely nothing whatsoever to do with investing the
>>social
>>security funds collected by the government in the stock market, or in
>>American business. right now, they just spend the money, and don't invest
>>it
>>at all,
>
> The truth is that Social Security (as reauired by Congress) invests
> its funds in US Treasuries.
>
> As usual graham spouts the usual rightward propaganda and falsehoods.
>
>> and people like you wonder why social security is going broke.....It
>>is nothing but a giant Ponzi scheme,
>
> Rightard lie. It's nothing like a Ponzi scheme and it's only ignorant
> rightards who claim as much.
>
> --
From The SS website: The trust funds now hold only special issues, but they
have held public issues in the past.
"Public issues-marketable Treasury bonds available to the public."
"Special issue types and properties
There are two types of special issues: short-term certificates of
indebtedness and long-term bonds."










From: Bill Graham on

"John A." <john(a)nowhere.invalid> wrote in message
news:jbtab5llilebpr7ke4fl5rtmus66e1gdnk(a)4ax.com...
> On 20 Sep 2009 00:13:06 GMT, rfischer(a)sonic.net (Ray Fischer) wrote:
>
>>Bill Graham <weg9(a)comcast.net> wrote:
>>>
>>>"Atheist Chaplain" <abused(a)cia.gov> wrote in message
>>>news:4ab4e424(a)news.x-privat.org...
>>>> "Bill Graham" <weg9(a)comcast.net> wrote in message
>>>> news:eKKdnZJa7rsyFCnXnZ2dnUVZ_vudnZ2d(a)giganews.com...
>>>>>
>>>>> "Father Guido Sarducci" <don(a)novello.com> wrote in message
>>>>> news:Xns9C8A70F3BA778FatherGuido(a)202.177.16.121...
>>>>>>> Social Security and Medicare are government run insurance
>>>>>>> policies. Ever hear of FICA which is the ~15% of your salary
>>>>>>> the government collects? It is half hidden for employees
>>>>>>> because the employer pays part directly instead of putting
>>>>>>> it into your paycheck where you can actually see it being
>>>>>>> removed. FICA = Federal Insurance Compensation Act.
>>>>>>> Unfortunately it was set up as a Ponzi scheme that is
>>>>>>> falling apart. I could get some nice health insurance and an
>>>>>>> annuity if I had the ability to keep the FICA money. You
>>>>>>> even pay income tax on the part you do see on your pay stub.
>>>>>
>>>>> Yes, and they have the nerve to give Madoff 150 years for doing what
>>>>> they
>>>>> have been doing since 1930.....And Bush wanted to actually invest the
>>>>> money in American business, and the Dems screamed bloody murder!
>>>>
>>>> I beg to differ
>>>> http://www.latimes.com/news/nationworld/nation/la-na-norton17-2009sep17,0,6215749.story
>>>
>>>This story has absolutely nothing whatsoever to do with investing the
>>>social
>>>security funds collected by the government in the stock market, or in
>>>American business. right now, they just spend the money, and don't invest
>>>it
>>>at all,
>>
>>The truth is that Social Security (as reauired by Congress) invests
>>its funds in US Treasuries.
>
> Much as a conservative investment fund might if you were reserving
> part of your retirement savings as a safetey-net in case your more
> aggressive investments fail. Ya think maybe that's what Social
> *Security* is supposed to be?
>
>>As usual graham spouts the usual rightward propaganda and falsehoods.
>>
>>> and people like you wonder why social security is going broke.....It
>>>is nothing but a giant Ponzi scheme,
>>
>>Rightard lie. It's nothing like a Ponzi scheme and it's only ignorant
>>rightards who claim as much.

In a Ponzi scheme, new investors pay for the old ones, and that's exactly
how Social Security works. It generates no money from investing in any
business or other enterprise. The people who are working pay into it, and
this is the only source of income for the retirees. They are living off of
the working ones, and not benefitting from the money that they invested when
they were working, because their government didn't invest their money when
they were working....THEY SPENT IT! This is exactly what Bernie Madoff did.
He didn't invest the money that people gave him, he spent it, and depended
on his new investors to pay for the older ones. This only works until you
don't acquire enough new investors to be able to satisfy the needs of the
older ones. And that is what is happening to social security, too. There
aren't enough new "investors" to pay off us retirees, so the system is
rapidly going broke.

From: Ray Fischer on
Bill Graham <weg9(a)comcast.net> wrote:
>> On 20 Sep 2009 00:13:06 GMT, rfischer(a)sonic.net (Ray Fischer) wrote:

>>>Rightard lie. It's nothing like a Ponzi scheme and it's only ignorant
>>>rightards who claim as much.
>
>In a Ponzi scheme, new investors pay for the old ones, and that's exactly
>how Social Security works.

graham is a dumbshit rightard. Social Security IS NOT AN INVESTMENT.
They do not promise to return one dome of your money. It's retirement
insurance and, like all other insurance, income is used to pay claims.

> It generates no money from investing in any
>business or other enterprise.

graham is lying. SS is invested in US Treasuries,

--
Ray Fischer
rfischer(a)sonic.net

From: SMS on
Ray Fischer wrote:
> Bill Graham <weg9(a)comcast.net> wrote:
>>> On 20 Sep 2009 00:13:06 GMT, rfischer(a)sonic.net (Ray Fischer) wrote:
>
>>>> Rightard lie. It's nothing like a Ponzi scheme and it's only ignorant
>>>> rightards who claim as much.
>> In a Ponzi scheme, new investors pay for the old ones, and that's exactly
>> how Social Security works.
>
> graham is a dumbshit rightard. Social Security IS NOT AN INVESTMENT.
> They do not promise to return one dome of your money. It's retirement
> insurance and, like all other insurance, income is used to pay claims.
>
>> It generates no money from investing in any
>> business or other enterprise.
>
> graham is lying. SS is invested in US Treasuries,

He is a ditto head. Someone told him these lies and he repeats them. He
has no critical thinking skills.
From: Bill Graham on

"SMS" <scharf.steven(a)geemail.com> wrote in message
news:4ab5de86$0$1590$742ec2ed(a)news.sonic.net...
> Ray Fischer wrote:
>> Bill Graham <weg9(a)comcast.net> wrote:
>>>> On 20 Sep 2009 00:13:06 GMT, rfischer(a)sonic.net (Ray Fischer) wrote:
>>
>>>>> Rightard lie. It's nothing like a Ponzi scheme and it's only ignorant
>>>>> rightards who claim as much.
>>> In a Ponzi scheme, new investors pay for the old ones, and that's
>>> exactly how Social Security works.
>>
>> graham is a dumbshit rightard. Social Security IS NOT AN INVESTMENT.
>> They do not promise to return one dome of your money. It's retirement
>> insurance and, like all other insurance, income is used to pay claims.
>>
>>> It generates no money from investing in any business or other
>>> enterprise.
>>
>> graham is lying. SS is invested in US Treasuries,
>
> He is a ditto head. Someone told him these lies and he repeats them. He
> has no critical thinking skills.

The government can't "invest" in US Treasuries.....This is lending money to
itself, to pay off its own debts with. You have to invest somewhere else
other than yourself. Like I say, they just spend the money.....