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    Cut, Cap, Balance

    06/22/2011

    Democracy and Power 104: Future Debt Burden

    A government debt is a government claim against personal income and private property – an unpaid tax bill. – Hans F. Sennholz

    Federal politicians – Democrats and Republicans – have willfully and recklessly created an enormous and dangerous debt.  Politicians cannot be trusted to be prudent and honest stewards of America’s finances.

    America’s debt is at least $14.3 trillion.  President Obama’s 2012 budget intends to increase the debt to $15.7 trillion in 2021.  The President and Congress must be stopped.  A coalition of libertarian and conservative groups are demanding Cut, Cap and Balance.

    Cut:  The deficit must be cut immediately.  Latest year’s deficit was $1.6 trillion.  It must be cut by 50% this year.

     Cap:  Federal spending must be capped at 18% of GDP – the historical rate. 

    Balance Budget Amendment: Congress and the President must balance the budget, with the exception of emergencies.

    In the Wall Street Journal, a former Member of Congress and a former state politician politely stated why these additional restraints must be installed – simply, politicians can’t be trusted:

    Republicans in the Bush years and Democrats in the Obama years have proven that we cannot trust them when it comes to spending.

    … they (Cut, Cap Balance) prevent irresponsible presidents and legislators from finding new ways to spend money that we don't have for things we don't need.

    Bluntly, Democrats and Republicans have endangered America by recklessly and dishonestly burdening working Americans and future generations with an unpaid tax bill.

    The consequences of failing to raise the debt ceiling is nil compared to the immoral burdens and economic stagnations the politicians are perpetrating upon working Americans and our children and grandchildren.

    Cut, Cap, and Balance will restrict politicians and Americans will again prosper and thrive.  Cut, Cap and Balance will save and enhance freedom and democracy.

    1 comments
    Larry Townsend
    07/25/2011

    Here are some facts about the Social Security benefits some of our legislators are wanting to eliminate. Bottom line, they want to steal the money to cover their wastful spending habits with money that belongs to us! Be clear on this. Social Security benefits are NOT a welfare handout for people. Social Security benefits are paid out of funds that were paid by you and me and millions like us. These benefits paid monthly do not come out of any operational budget or from any other source of tax money. Read on and understand how criminal it would be for out legislators to tamper with these funds for any other purpose than originally intended, our social security!

    SOCIAL SECURITY IS NOT AN ENTITLEMENT FROM THE GOVERNMENT!!!

    No matter how much MSM and the Government have twisted it over the years for people to think it is an entitlement it is NOT!

    BTW - from Social Security's website itself - shows it has made 2+ TRILLION Dollars in excess than what it has ever paid out!

    Every single person in the U.S. who works and gets a pay check are paying into Social Security. Then on top of that all the money you paid into Social Security over the year you still have to pay full taxes on, even though the government took it for your "own good".

    Social Security was started in the 1935 by Roosevelt (yeah the same one of the Bretton Woods agreement and let the banks run wild and confiscated all the gold). I am sure it was simply another way to get people's money out of their pockets and sold as a retirement nest egg that the government was going to keep safe for them.

    Social Security is NOT a paid out benefit that comes from the government and has to be budgeted in! It is it's own program that people are required by law to pay into. It is NOT I repeat NOT an entitlement from the Government!

    Understand how the Propaganda is working right now in the government and media. Obama has threatened that Social Security checks won't go out on Aug 3rd if the debt ceiling is not raised!
    Well let me tell you.... he has no right to threaten that! Social Security is not at all hinged into the debt, except for the fact that other government entities have raided Social Securities money and has not paid it back! We the people have had our money raided in every single way even our retirement money which we have been forced to pay has been taken by the government and spent on war and given to the banks.

    Here are Facts about Social Security from U.S. government sites! These are not "alternative news/blogs" this is the U.S. government saying exactly where Social Security money comes from.

    Here are some links with Facts

    http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/200

    Participating in the Social Security program
    Updated 06/01/2011 05:31 PM | ID# 200
    Am I required to participate in the Social Security program?
    Participation in the Social Security program is mandatory with respect to the payment of Social Security taxes. Unless specifically exempt by law, everyone working in the United States is required to pay Social Security taxes on earnings from employment. These earnings are subject to Social Security tax without regard to the citizenship or place of residence of either the employer or the employee.
    The authority for the collection of taxes, including Social Security taxes, is found in the Internal Revenue Code, not the Social Security Act. (See sections 3101(a) and 3102(a) of the Code.) We suggest that you direct any questions you may have about tax liability to the Internal Revenue Service for consideration. The address is:
    Internal Revenue Service
    1111 Constitution Avenue NW
    Washington, D.C. 20224.

    http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/435/related/1

    Can I opt out of paying Social Security taxes or withdraw taxes I paid for Social Security coverage?

    Social Security coverage is mandatory.
    The law also does not permit a refund of Social Security taxes. The authority for the collection of taxes, including Social Security taxes, is published in the Internal Revenue Code, not the Social Security Act. (See sections 3101(a) and 3102(a) of the Internal Revenue Code.) Please direct any questions you may have about tax liability to the Internal Revenue Service at the address below:

    Internal Revenue Service
    1111 Constitution Avenue NW
    Washington, D.C. 20224.

    http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/493/related/1

    Do I have to pay income taxes on the benefits I receive?

    You will have to pay federal taxes on your Social Security benefits if you file a federal tax return as an individual and your total income is more than $25,000. If you file a joint return, you will have to pay taxes if you and your spouse have a total income of more than $32,000.
    Use the Internal Revenue Service (IRS) Notice 703 shown on the back of the Social Security Benefit Statement, SSA Form 1099, to determine if any of your benefits may be taxable.
    Social Security has no authority to withhold state or local taxes from your benefit. Many states and local authorities do not tax Social Security benefits. However, you should contact your state or local taxing authority for more information.

    http://www.socialsecurity.gov/history/hfaq.html

    Q24: How much has Social Security paid out since it started?
    A: From 1937 (when the first payments were made) through 2009 the Social Security program has expended $11.3 trillion.
    (See detailed tables of annual Social Security payments 1937-2008.) (See also detail for Q26)

    --------------------------------------------------------------------------------
    Q25: How much has Social Security taken in taxes and other income since it started?
    A: From 1937 (when taxes were first collected) through 2009 the Social Security program has received $13.8 trillion in income.

    http://www.socialsecurity.gov/history/tftable.html
    pay out table!

    (Only non-government site linked in regards to information)
    http://money.howstuffworks.com/personal-finance/financial-planning/socia...

    Where Does the Money Come From?
    As of June 2005, 6.2 percent of a worker's wages are diverted into the Social Security trust funds (one for retirement benefits and one for disability). Employers put in an additional 6.2 percent, resulting in a total payroll tax of 12.4 percent. Self-employed workers pay all 12.4 percent themselves. Income greater than $90,000 is not subject to Social Security taxation -- this is known as the "maximum amount."
    it means that you are paying a certain percentage of your salary into the Social Security system -- and the idea is that you will get this money back once you retire so you have some extra money to live on once you stop receiving your paycheck.
    So - Understand and stop thinking the Government is "giving away money in an entitlement" to the people! WE the People are the ones who have paid the money to Social Security!

    OH, you want to know the funniest part of Social Security???

    When FDR enacted Social Security, he put the retirement age and ability to get Social Security benefits at 65. Well guess what...............at that time in the1930s, the expected life span of people was under 65!
    So, who was he enacting Social Security benefits being taken out of your pay for retirement, in reality (banks?)? Just makes you laugh once you learn that history is not all it has been made out to be.

    Here is that information from the government themselves:

    http://www.socialsecurity.gov/history/lifeexpect.html
    If we look at life expectancy statistics from the 1930s we might come to the conclusion that the Social Security program was designed in such a way that people would work for many years paying in taxes, but would not live long enough to collect benefits. Life expectancy at birth in 1930 was indeed only 58 for men and 62 for women, and the retirement age was 65.

    Stop thinking it is a Give Away from the Government! It is NOT - it is in fact a program that lets the government get more of the people's money and it rightfully belongs to us! If in fact those legislators vote to eliminate benefits, then it will be time for across the board impeachments as well as time for us to start gathering ropes for some old fashioned frontier justice! If you or I raided a trust fund belonging to others, we would be locked away in prison where we would rightfully belong!
    Speak up now! Its easy to contact your senators and other representatives. If your reading this, then you have a computer and you can easily get your representative's email address by simply typing contact (their name) and the rest is easy. OR....you can remain silent sheep like many are hoping you will do and possibly have your money stolen without any legal recourse! Better act now!
    Thanks Sherry!

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