Yes I do trust you but I just couldn’t help myself. Ralph has worked so hard to educate.
'We Know This Script': Naomi Klein Warns of 'Coronavirus Capitalism' in New Video Detailing Battle Before Us
Ms Naomi!! Here’s a cool idea that has been lying around for a very long time. A necessary pre-req if we humans want to save our habitat and advance our experiments in self governance:
End the private banks’ creation of (what we use as) money each time they lend. Money must be a public asset, like the Greenbacks were and the Bradbury pound. The elite will always rule as long as they have the government paying interest on money for public projects. Int’l problem, yes, and very entrenched, but public awareness is growing fast about the scam that is our monetary/banking system. In U.S. legislation has already been introduced!
See ‘Guide to the NEED Act’ by Howell at Alliance for Just Money.
Look for the three necessary changes to free us from debt slavery, and let the healing begin.
Guaranteed destruction of Social Security, as the Banks will use the crippled economy as a weapon against all retired, and about to retire.
It’s their dream situation.
And a bipartition group to count them, so some will not be mysteriously misplaced lost or destroyed.
You might be right but that seems a thing too wrong for them to be able to get away with. They may try all manner of things but privatizing Soc Sec through the stock market seems unlikely in a crashing economy. They might try offering scam plans also but now seems the worst time to try that.
Once this is over or that we have gotten past this first critical melt down then maybe they might try to pull something but I am guessing that people would panic too much if they succeeded in trashing Soc Sec. More likely they’d whittle away at it and once that step is first taken then other step by step follows.
I think it is human nature to find things to worry about when people are panicking about something that they can’t control. But all I can say is that I hope you are wrong about them trying it. Trump might try something because he takes pride in not having a moral compass nor a conscience either.
[that the vandals and thieves might try to destroy Social Security at this time]
They have a catalog of ruses and lies that they have been expanding and honing since 1934, before the enabling legislation was even written. For this attack they use the lie that the best way to help people in distress is to reduce their taxes. This is a lie for two reasons. First, tax breaks are not as effective a stimulus to the economy as a direct payment of the same amount to the person or household, and second, why specifically the FICA tax, that funds the benefits in advance for all members of the system? That question answers itself: If the FICA tax is suspended for a few months, it reduces the total contributions of every person that helps to determine their benefits when the person applies for them. In addition, it reduces the funds that are locked in ironclad accounts to pay the benefits when they are due.
But this is just the tip of a very big iceberg. I urge every American to educate her- or himself about what Social Security is and how it works. For a good starting point I recommend The Truth About Social Security, by Nancy J. Altman. I would have chosen a different title, as one like that is for me a red flag saying that no truths will be found between the covers. But Ms. Altman, who is president of Social Security Works (.org), gets it right. She has two other books, one focusing on the details of how the system was put together, the other focusing on what she calls the “zombie lies,” the ones that just will not die, and specifically the lie that Social Security is about to go broke (which its enemies have been saying since that guy with the sign saying “The world will end tomorrow” was born), and why it is a lie. There are many others, some more technical and some less so, but this one covers the entire history of the program, and includes many enlightening quotes from the founders and from others who have served as its administrators.
Naomi is already partly out of date,as the coronavirus has moved opinions further along the path she mentions. [BTW Social security is not funded by taxes, not even 1 cent. It’s funded by deficit spending]
Steve keen in an interview on RN, suggested a Trillion dollar coin /investment vehicle the wealthy could support.[it will be their only investment opportunity] The government can deficit spend and not have people worrying where the money will come from. Everyone will either lose their jobs ,lose their healthcare, even lose their debts but the deficit spend can, off the record. pay for compensation for every one.
Steve Keen is one of the best of a relatively small but VERY rapidly growing contingent of modern economists who are not blinded by the dominant paradigm, which is pseudo-science on a par with “creation science.” I take anything he says at face value even when I can’t quite follow his reasoning.
Social Security most certainly IS funded by taxation, but in a way that is different from any other US government agency. Despite the efforts of several presidents and others, it is financially a separate entity from the government as a whole and from its treasury, with one exception.
Specifically, it is funded by one single dedicated tax (“FISA”) that is its sole source of revenue except for interest on the trust funds, and that by law cannot be used for any other purpose. Of course that can become moot when both the public sector and the private sector have been taken over by the criminal element.
Any revenue in excess of what is required to pay current benefits is invested, also by law, in a special class of US Treasury bonds (the one exception) that by law cannot be traded in financial markets, but are held by the Social Security Administration until they are cashed in to pay current benefits. US Treasury securities are still the worldwide benchmark “zero risk” investment, because the US government is the oldest and largest entity anywhere that has never defaulted on a debt. This is the reason that when George II (Shrub) was shown on TV in front of banks of filing cabinets in the headquarters of the SSA asserting that they were full of “worthless paper,” people in the know took notice: It was a direct threat that the US Treasury WAS going to default for the first time, and on debt owed to its own citizens. As it turned out, Shrub was apparently reading a script handed to him by Pete Peterson or some such asshat and had no idea what he was talking about.
The above is a brief summary, leaving out many pertinent details, but the outline is absolutely correct. I urge every American to educate her- or himself about what Social Security is and how it works, as its enemies have been using lies and ruses in efforts to discredit it since before the enabling legislation was even written in 1935. One good source for laypersons is The Truth About Social Security, by Nancy J. Altman, who is president of Social Security Works (.com). Contrary to most books with “The Truth About. . .” in their titles, everything in this one actually is true. There are other good books, but this is a good one to start with.
Covid-19 may have more to say.