The Federal Government is trying to usurp your freedom a little at a time. As it does so, our nation heads into full-fledged socialism. The Social Security program that was developed decades ago is an utter failure. Yet it’s goal was to let those who paid in during their working years to have income through their retirement. Now it is nearly bankrupt and can barely pay out anything to retirees. Thus, yet another social program enacted by the government that has failed.
Now with people’s investments in 401(k) have taken a major blow of a loss through the pass year, there is a push for a new tier of savings plan designed that would provide a steady stream of retirement income. This so-called universal retirement program would “mandate contributions from employers and employees, with the government subsidizing lower-income workers.” This is EXACTLY what the Social Security program is. So instead of one social security program, we will have two. Instead of paying 15.3% tax (half through employer), we might now be paying over 30% in addition to a 25% to 40% federal income tax rate, in addtion to a possible 5% to 10% state income tax rate. In essence, a typical worker would be paying 60% to 80% of their income to taxes in exchange for the government dictating your retirement wage and how you will live your life. Of the remaining money that you have to live on, you will be paying 6% to 12% on sales taxes, mortgage interest, and other local taxes. There will be very little money available after paying for necessities for the average person to invest, take vacations, or purchase goods and services desired.
Related posts:
I’m not worried. If socialism ever comes to America what will happen to the top 1% who now own 90% of all the wealth (cars, stocks, yachts, homes, private jets and other real goods) of America? Answer: They will become the New Ruling Class who run the socialist party. And they will still be the sole USERS of all that stuff but it will become government property. If the history of the Soviet Union teaches us anything, it teaches that. The same running dogs of socialism (the upper 5% who own almost all the rest of the wealth) will then become the socialist bureaucrats. The intellectual dissidents will be the same people. As Mao said, “All power grows out of the barrel of a gun.” The government will not “try” to bring socialism. When it brings socialism, it will bring it with guns. Then everyone will listen, or pretend to.