Monday, December 18, 2006

The Numbers - But, Are They Real?

'Taxing 100% of all wages, salaries, corporate profits would not eliminate a deficit of this magnitude'

"Truthfully," Williams points out, "there is no Social Security 'lock-box.' There are no funds held in reserve today for Social Security and Medicare obligations that are earned each year. It's only a matter of time until the public realizes that the government is truly bankrupt and no taxes are being held in reserve to pay in the future the Social Security and Medicare benefits taxpayers are earning today."

... I hope this guy's wrong!


Lady Hawk said...

Another problem government does not want to fix. Get us out of the un and cut government by 45% starting with the department of education. Streamline welfare; make countries pay us their war debts. We could fix the deficit and have money for social security.

whit said...

Not to worry. I have it on very good authority from George McGovern that Social Security is solvent for the next 25 years.

2164th said...

The numbers are beyond human comprehension. $200 billion is the aprox output of all agricultural output. That is not farm income, but revenue. numbers beyond comprehension will be understandanle when they collapse under their own weight. Good post.

Tiger said...

It's time to fatten up the Yorkie.

Gotta eat something!