CPA Tim Beck of McHenry Township set Crystal Lake County Board member off with his critique of McHenry County NOW’s “We Resist’ demonstration on Randall Road.
Collilns’ rebuttal inspired a rejoinder from Crystal Lake County Board member Terri Greeno
I’m wondering if the following essay from Beck will do the same.
The Socialist Mindset
Elon Musk has been attacked by Democrats and their allies in the mainstream media, because he has called the Social Security program a Ponzi Scheme.
I agree that Elon Musk is incorrect, because a Ponzi Scheme is illegal.
Unfortunately, the Social Security program was established via laws that were passed in 1935.
Other than this one distinction, the Social Security system has all of the characteristics of a Ponzi Scheme.
The last ones in (the children and the grandchildren) are the ones who will be devastated financially.
There is another reason why Socialists love Social Security (and Medicare and Medicaid).
It is one of their primary tools to increase dependency on the federal government and increase the sense of “entitlement” that underpins their agenda.
In your review of the following published facts (presented below from Joe Biden’s last budget) keep in mind that $1 trillion equates to nearly $3,000 for every US citizen – each man, woman, child and retiree in the country.
| In Trillions | FY 2034 amount | |||
| FY 2025 | FY 2026 | FY 2034 | Per Citizen | |
| Total Revenues | 5.5 | 5.9 | 8.6 | $25,400 |
| Total Expenditures | 7.3 | 7.4 | 10.3 | 30,300 |
| Deficit | (1.8) | (1.5) | (1.7) | (4,900) |
| Social Security | 1.2 | 1.3 | 1.9 | $5,600 |
| Medicare | 0.4 | 0.4 | 0.6 | 1,800 |
| Payroll Tax Receipts | 1.6 | 1.7 | 2.5 | 7,400 |
| Social Security | 1.5 | 1.5 | 2.4 | $7,100 |
| Medicare | 0.8 | 0.9 | 1.8 | 5,300 |
| Medicaid | 0.6 | 0.6 | 1.0 | 2,900 |
| Total Spending | 2.9 | 3.1 | 5.2 | 15,300 |
| Socialism Deficit | (1.2) | (1.4) | (2.7) | (7,900) |
The first question every citizen (and child) needs to ask is – Do I really want the federal government to spend $30,300 on my behalf?
The second question (especially for the children) is – Why do you intend to steal $7,900 from me every year, to give to someone else?
Margaret Thatcher once said ,
“The problem with Socialism is that you eventually run out of other people’s money.”
The Socialism Deficit is what drives the federal government’s annual deficit.
And the Social Security “Trust Fund” is a blatant lie.
It does not hold a single dime of any actual money.
The payroll taxes that are collected every day are immediately paid to someone else.
And the shortfall / deficit is put onto the backs of our children and grandchildren.
Social Security is an unfunded pension obligation.
The continued aging of our population is a huge problem for the victims of the Social Security Ponzi Scheme.
The amount of the unfunded obligation is huge, and it dwarfs the published federal government debt of $36.7 trillion.
In my opinion, the only real solution is to eventually transform Social Security over a multi-year transition period into becoming a means-tested welfare benefit that would be paid to elderly American citizens (only) who are in need of financial assistance.
Will Socialists ever buy into such an idea?
I doubt it.
