I received an email from a friend asking me to pass on a quote supposedly from Warren Buffett that we should have a Constitutional amendment to forbid all members of Congress to run for re-election if the budget is out of balance greater than a certain amount.
For more context, see http://www.snopes.com/politics/quotes/buffett.asp. The chain email, started in 2011, is included on that page.
If all members of any other group were held responsible for the behavior of some members of the group, we would call it discrimination.
Showing posts with label federal budget. Show all posts
Showing posts with label federal budget. Show all posts
Tuesday, November 13, 2012
Wednesday, July 20, 2011
Of course I should get more from Social Security than I put in
Many who dislike the idea of Social Security are complaining that recipients are receiving more than they put in. Of course I should get more from Social Security than I put in.
Of course, it is debatable how much more I should get.
OK, why should I get more? Isn't that a bit greedy?
No more greedy than anybody who buys government bonds. They expect payment of interest as well as principal. Since by law Social Security funds are supposed to go into government bonds, then there should be more money available in Social Security than was originally put in.
Social Security is an insurance program, but the reverse of health, house, or auto insurance. In the latter case, the fortunate never get any of their money back. In the case of Social Security or any other pension plan, the fortunate get more than their share back. The less fortunate died before collecting all that they put in.
The real argument should be what should have been paid all along. Some of the past increases bore no reality to the cost of living of many retirees. This is a discussion that would take hundreds of paragraphs more.
P.S. My father's father died before he collected his first Social Security check. My mother died at 65, and, as far as I know, never collected Social Security.
Of course, it is debatable how much more I should get.
OK, why should I get more? Isn't that a bit greedy?
No more greedy than anybody who buys government bonds. They expect payment of interest as well as principal. Since by law Social Security funds are supposed to go into government bonds, then there should be more money available in Social Security than was originally put in.
Social Security is an insurance program, but the reverse of health, house, or auto insurance. In the latter case, the fortunate never get any of their money back. In the case of Social Security or any other pension plan, the fortunate get more than their share back. The less fortunate died before collecting all that they put in.
The real argument should be what should have been paid all along. Some of the past increases bore no reality to the cost of living of many retirees. This is a discussion that would take hundreds of paragraphs more.
P.S. My father's father died before he collected his first Social Security check. My mother died at 65, and, as far as I know, never collected Social Security.
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