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Nomination Excitations: Bachmann, Romney, Perry, And Ponzi

12 September 2011 @ 14:47

Well, well, well…Governor Rick Perry has certainly sent a shockwave across the fruited plain by his labeling of Social Security as a Ponzi Scheme.

-I agree with Smitty on Mr. Perry’s position:

I support Rick Perry all the way on the Ponzi Scheme issue, as far as correctly identifying it as a Ponzi scheme. We won’t get out of the 70-year pit in the snap of a finger, but correctly identifying the Ponzi scheme is the first step to stopping the digging.

A is always A. You can call it B or you can call it S, but it will still be A ― no matter how much the BS may fly.

-As Andrew McCarthy points out:

Social Security is a Ponzi scheme — only worse, because Ponzi schemes are voluntary and Social Security is compulsory. Moreover, the Washington politicians who have promoted and maintained Social Security well knowing that it is a swindle — and well knowing that there is no “trust fund” because they have raided it — are the same Washington politicians who have prescribed federal sentencing guidelines that (a) impose life sentences on swindlers like Bernie Madoff for comparatively modest frauds, and (b) enhance the jail term of every fraud convict if his conduct — e.g., the raiding of a trust fund by a trustee — has violated a fiduciary duty he owed to his victims.

Under Social Security as designed, younger Americans are being forced to pay into a system based on assurances that the government fully knows to be false: they are told their compulsory payments guarantee a stream of benefits from retirement until death (in fact, it is known that there is not enough money to pay promised benefits to prospective retirees); and they are told their compulsory payments are going into a trust fund (in fact, government spends the money on other things and writes itself IOUs that Americans are on the hook to pay off).

The American Heritage Dictionary, Fourth Edition, defines the term thusly:

A fraud disguised as an investment opportunity, in which initial investors and the perpetrators of the fraud are paid out of funds raised from later investors, and the later investors lose all funds invested.

Yeah…that’s Social Security all right, except, as Mr. McCarthy mentions, you’re forced at the point of a gun to ‘invest’ in the Supplemental Security Income scheme.

-Now, as you probably know, Mandate Mitt Romney has been defending Social Security, doing his best to replicate the Left’s tactic of trying to scare the bejesus out of the elderly [click on the link to Smitty above to see one of MMR's flyers]. Shame on him for that.

That this ploy may succeed is explained well and succinctly by Matt Lewis in a comment he left in another Smitty posting:

The big problem with progressivism is that their policies aren’t all obviously failures from the get go.

Witness Romney v Perry, with respect to Social Security. It’s true that many people have benefited from receiving checks from the government. By the time it’s obvious that it’s going to crash and burn, the populace is already addicted, and it’s like a huge display of courage and controversy just to admit we have a problem.

Progressives: crack dealers of politics.

By vowing to look the other way when it comes to the crack trade, Romney is just as guilty as the [New] Dealers.

-In some ways, Mandate Mitt is just John McCain without the grumpiness and ‘Maverick Mojo’.

-The biggest disappointment to arise out of this whole kerfuffle is what Michele Bachmann has done.

From Byron York we learn [tip of the fedora to Katrina Trinko]:

Mitt Romney and his advisers have been pushing hard against Rick Perry over the Texas governor’s description of Social Security as a "Ponzi scheme." Now, another Republican rival, Michele Bachmann, is preparing to hit Perry on the same issue.

"Bernie Madoff deals with Ponzi schemes, not the grandparents of America," says a Bachmann adviser. "Clearly she feels differently about the value of Social Security than Gov. Perry does. She believes Social Security needs to be saved, that it’s an important safety net for Americans who have paid into it all their lives."

Bachmann is in Florida for private meetings and to prepare for Monday night’s GOP debate in Tampa. It’s no secret the Bachmann camp was unhappy with the moderators of last Wednesday’s Republican debate at the Reagan Library, a debate which began as a Perry-Romney showdown and gave less time to other candidates. This time, in Tampa, it seems safe to predict that moderators will ask at least some other candidates whether they agree with Perry’s characterization of Social Security.

"Certainly not," the adviser says. "She strongly disagrees with his position on that, and it’s clearly not something that’s going to sit well with the people of Florida and Iowa and South Carolina and many of the early states, where there is a large population of seniors who rely heavily on Social Security. For [Perry] to scare them is wrong."

That old Leftist magic has got me under it’s spell….’

Very disappointing.

This obsequious pandering is beneath her dignity. One now is forced to ask the question: Is Michele Bachmann just another politician who has been pulling the wool over our eyes or is she just acting out of desperation or is she woefully ignorant on this issue?


-I intend to be very wary of supporting any candidate that refuses to face the reality of SSI: it is system so broken that it is not worth repairing. If we do not accept this truth, then we are not serious about restoring our freedoms and liberties. SSI is the poster child for what is wrong with our government and it is a criminal enterprise [oh…and it's UNCONSTITUTIONAL]. It cannot be saved. It must be dismantled and replaced with a program that (1) will be designed to phase out over time and (2) will be run in the full light of day. By this last point I mean there must be no BS’ing: it must be funded honestly, in the open, for what it is ― a penalty imposed on taxpayers for their long slumber these last seventy-plus years. Those taxed must understand that they will not see a dime of it.

Brothers…Sisters…We Don’t Need This Fascist Groove Thing.

One Comment
  1. Adobe Walls permalink
    12 September 2011 @ 23:51 23:51

    Republicans using mediscare against other Republicans will be the death their party.

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