Custom Search
More than 12,000 searchable pages indexed.

Your RF Cafe
Progenitor & Webmaster

Click here to read about RF CafeView the YouTube RF Cafe Intro VideoKirt Blattenberger ... single-handedly redefining what an engineering website should be.

Carpe Diem!
(Seize the Day!)

5th MOB:
My USAF radar shop

Airplanes and Rockets:
My personal hobby website

Equine Kingdom:
My daughter Sally's horse riding website

•−•  ••−•    −•−•  •−  ••−•  •
RF Cafe Morse Code >Hear It<

Job Board

About RF Cafe™


Social Security c.1936 - RF Cafe Forums

The original RF Cafe Forums were shut down in late 2012 due to maintenance issues. Please visit the new and improved RF Cafe Forums that were created in September of 2015. Unlike with the old forums where users registered individually, the new forums use a common User Name and Password so anyone can post without needing to create an account. Please find the current User Name and Password on the RF Cafe homepage. Thanks for your participation.

Below are all of the old forum threads, including all the responses to the original posts.

-- Amateur Radio
-- Anecdotes, Gripes & Humor
-- Antennas
-- CAE, CAD, & Software
-- Circuits & Components
-- Employment & Interviews
-- Miscellany
-- Swap Shop
-- Systems
-- Test & Measurement
-- Webmaster

 Post subject: Social Security c.1936
Posted: Tue Aug 24, 2010 1:09 pm 
Site Admin
User avatar

Joined: Sun Aug 03, 2003 2:02 pm
Posts: 878
Location: Erie, PA

I recently ran across this propaganda pamphlet issued by the Federal Government in 1936.

GET THIS: "...beginning in 1949, twelve years from now, you and your employer will each pay 3 cents on each dollar you earn, up to $3,000 a year. That is the most you will ever pay. " (emphesis added)

That's 3%. Today, you pay 7.65% on every dollar you earn - BEFORE DEDUCTIONS, not after. You pay on your gross, not your net.

BTW, it started out at 1%.

Full vesting occurred at 65 years old. Today it is 67, but politicians are pushing hard to increase it. It is only because senior citizens are such a large part of their constituency that they have not done so already.

Instead, they have shifted the burden to the middle aged and young earners via the massive bailout programs. How will that money ever get repaid? It is impossible based on any economic production model where the GNP increases (adjusted for inflation) enough to cover new expenses while also paying off debt. The only way is to inflate so greatly that the value of each dollar is severely diminished. The government is only obligated to pay in dollars of the year borrowed. Since current taxes are based on a percentage of current earnings, assuming that earnings rise at the rate of inflation, the government's take is keeping up with inflation, so they collect current value dollars and pay off old value dollar debts. It's a win-for them, while you get screwed.

Think about it this way: Your parent's house payment in 1980 might have been $400/month - a lot of money back then. Today you cannot even rent a 2-BR apartment for that much, but they are still making that $400/month payment at the end of a 30-year mortgage. In 2009 dollars, the equivalent payment is a little more than $1,000.month. So effectively today they pay $400/month to live in a $1,000/month home. In the reverse, that same $400 today would have been just $160.

The Keynesian economic model - like Socialism -has never worked anywhere it has been tried, and yet some people keep returning to it because they believe that it just hasn't been implement by the right people. They consider themselves to be the ones finally smart enough to pull it off.

Hold on, we're in for a rough ride as it proves itself wrong once again. :smt119

- Kirt Blattenberger :smt024
RF Cafe Progenitor & Webmaster

Posted  11/12/2012/span>