THE $26 TRILLION SOCIAL SECURITY THEFT! eBook Allen W Smith
Download As PDF : THE $26 TRILLION SOCIAL SECURITY THEFT! eBook Allen W Smith 
“Congresses under both Republican and Democrat control, both Republican and Democrat presidents, have stolen money from social security and spent it. The money’s gone. It’s been used for another purpose.”-- Senator Tom Coburn (R-OK), on March 16, 2011 during a senate speech.
THE MONEY IS GONE. ALL OF IT!
The Government has taken your Social Security contributions and used the money to finance tax cuts for the rich, wars, and other government programs.
The money was replaced with worthless Government IOUs that are stored in a file cabinet at the Bureau of the Debt office in Parkersburg, WV
Contrary to the claims of many, The IOUs are not the same as the marketable U.S. Treasury bonds, held by China and other American creditors, which are real bonds that can quickly be turned into cash.
The IOUs are not marketable. They couldn’t be sold to anyone even for a penny on the dollar. They have no monetary value.
Senator Tom Coburn is absolutely right. The Government has “ stolen money from social security and spent it. The money’s gone. It’s been used for another purpose.”
THIS IS THE BIG SECRET THAT THE GOVERNMENT DOESN’T WANT YOU TO KNOW ABOUT. But, you have a right to know the truth!
THE $26 TRILLION SOCIAL SECURITY THEFT! eBook Allen W Smith
Dr. Allen Smith has written one of the most enlightening books that I have read in a long time as it cleary explains the problems with social security. The first section discussing the looting of the social security trust fund is very readable and easy to understand. The second section also is very enlightening in its discussion of how and why we got into our current national debt mess, although it is somewhat repetitive in the various chapters. In my opinon, every voter, liberal or conservative, should read this important information before voting in the next federal election. Dr. Smith insisted that the price of the e-book (99 cents)be kept low so that it could be available to as wide an audience as possible. The message in the book should serve as a warning to eveyone who expects to collect social security benefits.I had heard for a long time that the social security trust fund was either 1)broke, and full of worthless IOUs or 2)was in good shape since the trust fund contained treasury bonds that were payable as the baby boomers retired and that the bonds could make up for projected, insufficient current social security payroll taxes (which is the case at this time. The author points out that the trust fund contains only non-negotiable, non-publicly traded "special treasury bonds" that are basically just IOUs that account for money taken out of the fund.
The problem is that the surplus from extra payroll taxes on all wage earner in the trust fund that was supposed to go toward offsetting the cost of social security payouts to the large 'baby boomer' cohort has already all been spent on other government programs, including offsetting tax cuts for the wealthy. In other words, the social security trust fund has been used as a 'slush fund' to make possible lower income taxes over the years and lessen the need to borrow to pay our governments other expenses (although we still borrowed way too much).
The concern is whether these "special treasury bonds" will have as high a priority for repayment as other, publicly-traded treasury obligations. If we default on acutal, publicly-traded treasury bonds, the US could experience disasterous economic consequences as bondholders worldwide try to sell our bonds - much like the bank runs in the 1930s. If we default on the IOUs in the the SS trust fund, only SS recipeients would be affected; it would not damage the US credit rating (any more than it already has been). I think that with the recent bi-partisan proposals to cut social security benefits through a recalculated and reduced COLA (the chained CPI) and raising the retirement age to collect benefits, we can see that polictician are leaning toward not paying back the $2.6B spent from the trust fund and thus 'stiffing the seniors'. This is after all, a lot of money and our federal government is essentially 'broke'. They seem to be thinking that the political consquences of stiffing the seniors will be less than the economic consequenses of defaulting on real, publicly-traded treasurey bonds.
"The $2.6 Billion Social Security Theft", in combination with "Aftershock" by Wiedemer et. al., is essential reading for those interested in the policies and decisions that got us into our current debt crisis. Every voter should inform themselves by reading these two books. Seniors and other concerned Americans need to organize to let the politcians know that there will be major political consquences to cutting our social security benefits.
Product details
|
Tags : Buy THE $2.6 TRILLION SOCIAL SECURITY THEFT!: Read 3 Books Reviews - Amazon.com,ebook,Allen W. Smith,THE $2.6 TRILLION SOCIAL SECURITY THEFT!,Ironwood Publications,BUSINESS & ECONOMICS Finance,BUSINESS & ECONOMICS Government & Business
People also read other books :
- Starstruck edition by H L Logan Literature Fiction eBooks
- The Myth of Autism How a Misunderstood Epidemic Is Destroying Our Children (Audible Audio Edition) Dr Michael Goldberg Clinton Wade Elyse Goldberg Audible Studios Books
- The Bewitching Hour edition by Mallory Crowe Paranormal Romance eBooks
- Virginia Covered Bridges eBook Harold Stiver
- Explosion Of Love edition by Gautam Sachdeva SelfHelp eBooks
THE $26 TRILLION SOCIAL SECURITY THEFT! eBook Allen W Smith Reviews
This book is about how the mismanagement of Social Security's finances has been used to hide mismanagement of the federal government's finances for political purposes. It also is about how a false economic theory, supply-side economics, has been used politically to convince an economically illiterate public that they can have their cake and eat it too.
These deceptions, combined with deregulation of the financial sector during the Clinton administration, have led to a government funding crisis that hampers our ability to deal effectively with the great recession we have brought on ourselves and the world.
Written clearly and simply with just the right amount of documentation by a professor of economics, this is the best introduction I have seen to understanding how and why our national debt has become so unmanageable.
The author is spot on in everything he states in the book and does an excellent job of making the problems with social security easy to understand. His writings do however show a deep bias in favor of Democrats and liberal policies and often skirts over the failings of some of the social justice malfeasance that have contributed heavily to the desire for out of control deficits.
Dr. Allen Smith has written one of the most enlightening books that I have read in a long time as it cleary explains the problems with social security. The first section discussing the looting of the social security trust fund is very readable and easy to understand. The second section also is very enlightening in its discussion of how and why we got into our current national debt mess, although it is somewhat repetitive in the various chapters. In my opinon, every voter, liberal or conservative, should read this important information before voting in the next federal election. Dr. Smith insisted that the price of the e-book (99 cents)be kept low so that it could be available to as wide an audience as possible. The message in the book should serve as a warning to eveyone who expects to collect social security benefits.
I had heard for a long time that the social security trust fund was either 1)broke, and full of worthless IOUs or 2)was in good shape since the trust fund contained treasury bonds that were payable as the baby boomers retired and that the bonds could make up for projected, insufficient current social security payroll taxes (which is the case at this time. The author points out that the trust fund contains only non-negotiable, non-publicly traded "special treasury bonds" that are basically just IOUs that account for money taken out of the fund.
The problem is that the surplus from extra payroll taxes on all wage earner in the trust fund that was supposed to go toward offsetting the cost of social security payouts to the large 'baby boomer' cohort has already all been spent on other government programs, including offsetting tax cuts for the wealthy. In other words, the social security trust fund has been used as a 'slush fund' to make possible lower income taxes over the years and lessen the need to borrow to pay our governments other expenses (although we still borrowed way too much).
The concern is whether these "special treasury bonds" will have as high a priority for repayment as other, publicly-traded treasury obligations. If we default on acutal, publicly-traded treasury bonds, the US could experience disasterous economic consequences as bondholders worldwide try to sell our bonds - much like the bank runs in the 1930s. If we default on the IOUs in the the SS trust fund, only SS recipeients would be affected; it would not damage the US credit rating (any more than it already has been). I think that with the recent bi-partisan proposals to cut social security benefits through a recalculated and reduced COLA (the chained CPI) and raising the retirement age to collect benefits, we can see that polictician are leaning toward not paying back the $2.6B spent from the trust fund and thus 'stiffing the seniors'. This is after all, a lot of money and our federal government is essentially 'broke'. They seem to be thinking that the political consquences of stiffing the seniors will be less than the economic consequenses of defaulting on real, publicly-traded treasurey bonds.
"The $2.6 Billion Social Security Theft", in combination with "Aftershock" by Wiedemer et. al., is essential reading for those interested in the policies and decisions that got us into our current debt crisis. Every voter should inform themselves by reading these two books. Seniors and other concerned Americans need to organize to let the politcians know that there will be major political consquences to cutting our social security benefits.
0 Response to "[0QL]∎ [PDF] Free THE $26 TRILLION SOCIAL SECURITY THEFT! eBook Allen W Smith"
Post a Comment