Social Security misunderstood

Ignorance may be bliss, but it’s also sad and dangerous. Read the following. It displays a complete lack of knowledge and understanding about Social Security. Why a news outlet would publish such nonsense is a mystery. Multiply this misinformation by millions and millions of Americans, Americans who vote, and you can see why America is headed to new lows and why politicians who feed on this type of misinformation can garner support. 

Bureaucrats don’t decide about COLAs. Paying for a COLA is not from your money,  it’s from current workers money and a rapidly depleting trust fund. FDR made no such claim of a temporary tax for Social Security. Since we are not inclined to raise the revenue for the Social Security trust, COLAs beyond those assumed based on the law, accelerate the shortfall. 



2 replies »

  1. All people are proposing is to go back to pre-1972 methods – where benefits would be increased when Congress approved legislation (at least back then, there was some chance Congress would also find a way to pay for it – other than shifting the burden to future generations).

    Congress enacted the COLA provisions (formulaic increases in benefits) as part of the 1972 Social Security Amendments, and automatic annual COLAs began in 1975. Before that, benefits were increased only when Congress enacted legislation.

    Old folks (like you and me) tend to vote. Why are you surprised that the media would not understand – since the media (TV, newspapers, etc.) tend to believe in governmental “solutions” for everything, ever increasing the populations reliance and dependence on government, by using entitlements as vote buying tools.


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