Social Security’s Reckoning Is Coming

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Don’t doubt me. We told you again and again and again. But now, looks like it’s official. Markowski was right. Yeah, Social Security now expects shortfall earlier, late 2032. Yeah, again, the the t the trustees. It’s funny that they actually they call themselves trustees.

You’re trustee of what exactly? A frickin’ Ponzi scheme. That’s what you’re a trustee of. Yes, earlier than their projection last year of 2033. Yeah, we told you that too. this they’re saying this is due because less tax revenue is coming in. Trump’s new tax law gave baby boomers, senior citizens, an extra deduction.

That reduce taxes on benefits. Okay. again, we’ve got shrinking fertility rates. they’re saying immigration is the this is the trustees are saying, yeah. Anyway, it was all a Ponzi scheme in the first place. Again, even FDR understood that it needed to be privatized.

Eventually. That didn’t happen. Anyway, this is this is from the Wall Street Journal. Unless Congress shores up the retirement program, the depletion of reserves would trigger a 22% reduction in benefits in late 2032. this is because incoming payroll tax revenue doesn’t fully cover promised benefits. The program is forced to make up the difference.

by pulling money from its two social security trust funds, one for disability benefits and the other for the larger program for retirees. Again, that is a Ponzi scheme.

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Hmm. Trump has vowed not to reduce retirement benefits. But he’s gonna be around at that point in time. more people, again, more more people are claiming Social Secur earlier because it’s gonna get cut. Okay, smart move. Smart move. yeah, well you know, but advisors say you should probably hold on because your payments can be more.

It’s gonna be cut anyway. Why why wouldn’t you you take it at that point in time? all right. First and foremost, this is what the the lefties are are saying this is what they’re saying right now. That you see these democrats in front of Congress. It’s not fair. It’s not fair. You know, you’re only paying, you’re only paying FICA taxes, your, you know, your payroll taxes on

You know, X amount and income. And you know, Jeff Bezos doesn’t pay it on all his income. And ASON doesn’t pay it on all their income and all this freaking nonsense. if you pay in more money, you get larger benefits, correct? so so what you’re saying is is that you should tax everybody in regards to payroll tax and only pay them out based upon

Does that make any sense to you? How is that going to work? to tax all that income. I I I’m so sick and tired of the lies when it comes to this. they call it your federal income tax. It’s a freaking tax. It’s a tax. It all goes to the same exact place. a guy I, you know, have a great deal of

respect for our but I I disagree with him on this entirely because it doesn’t solve the problem. Ken Langone from Home Depot, one of the the founders of Home Depot, he he been out and he said, hey, listen, you know, for guys that are wealthy, just, you know, you cut it. They’re just not allowed to get it after you make a certain amount of money. and I I I would agree with you, Ken, if we basically don’t call it a FIC attacks anymore.

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Stop stop lying to everyone. Your FICA taxes are 15.3%. 15.3%, you pay half, your employer pays half. Your employer is not paying it. That’s your money. That’s a cost of employing you. Do you understand? Now I’m a business owner, so I’ve got to I gotta contribute to the whole thing. 15

Point three. I no longer live in a income tax state. I live in the state of Florida. There’s no state income taxes. my effective tax rate, basically you want to pull these two things together, if you want to tax, I’ll make them would be fifty-two point three percent.

Fifty two point three percent. So y you mean to tell me you mean to tell me that I have to work?

Work all the way into July.

All the way into July before I get to start keeping any money of my own. I’m I’m I’m asking this. I’m asking this of all of you libs out there. You think it’s right that I should have to work into July before I actually keep anything of my own? Because that that’s even again, if you’re not, you’re gonna you’re gonna do this, at least be honest with people. Call it what it is.

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You’re gonna you wanna take that money and again you don’t even wanna give me anything for it. and you’re you’re gonna tell me that that’s okay.

Hey, hell, that doesn’t even include, you know, healthcare for the United States. I’m I’m I’m getting the the services, my my tax I’m getting what I’m paying for in the United States. Bullshit. Still gotta pay forty thousand dollars a year in health insurance costs. You’re okay with that. And again, I like I said, I’ve I’ve you know, I I posted some of this stuff. We put our podcast out, I’m getting messages.

They’re like well, you know, we could just borrow more money. so you wanna you wanna stick it to your kids again? All due respect, and I’m gonna go off on the baby boomers here. You wanna stick it to your kids and your grandkids again? $40 trillion in debt as a nation, not enough for you people. Now you want to print more money, devalue the currency even more, and put more on your kids’ credit card.

What the hell d what the hell drugs did you people take? What type of ethical bypass of birth drugs did you people take at Woodstock? Sorry, I don’t mean to be blunt here, but it’s bullshit.

Save your own damn money for crying out loud. I paid it as well security my hometown Gimme a frickin’ break, man.

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Cut it. Cut it. G you know what? Go get a job as a greeter at Walmart. I don’t know what the frick can tell you.

Бо дом’їн, май кідс.

The whole thing has been a scam. We’ve been yelling, screaming about it. Whenever they try to reform the damn thing, no, we can’t do that. You’re putting the money into the stock market and how dangerous that do you have any idea what the checks would be today if it was actually invested in a prudent manner?

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Anyway, sorry to go off on a rant there, people. But again, I’ve been ranting about this now for decades. And it just ticks me the hell off because I know it’s going to be a bunch of populist nonsense. Okay, that’s it. Okay, we got to keep the drinks flowing at the villages for crying out loud. Watchdog on wallstreet.com.