Here they go again with a new conspiracy to undermine, if not completely kill Medicare and Social Security. Mike Pence recently gave a secretive speech in which he outlined the same scheme George Bush enunciated but was forced to abandon when the wheels fell off his proposal.
It seems Pence is now conspiring with the likes of Steve Scalise, Rick Scott, Josh Hawley and a raft of Congressional Representatives who are owned by Wall Street to disembowel the system.
The scheme is to allow future Social Security recipients to invest 2% of their money in the stock market. 2% doesn’t sound like much, but when considered over the broad expanse of Social Security system the withdrawal of that much money would certainly sink the program.
Yes, at first blush it all seems good. And it would be if each future senior citizen was astute enough to hitch a ride on a rising market while bypassing a falling market; but what are the odds? One single major dip in the market could wipe out all gains in a heartbeat, and you would still have to pay fees on each purchase and sale to the tune of hundreds of millions of dollars.
The brokerage houses don't give a damn if you win, or lose, you pay both ways! That’s why they are underwriting the plot with millions invested in the contrivance.
Ahh, but it doesn’t stop here. Last June, the Republican Study Committee, of which Scalise is a member, released a budget plan that included numerous suggested reforms for Medicare and Social Security, including raising the eligibility ages for each program to 67 and 70, respectively. The proposal further called for withholding payments for individuals who retire early or had a certain level of income, (your savings, investments and 401k) and also suggested using private funding sources to replace Medicare.
“Private funding sources” means private health insurance!. Private health insurance can be summed up in four words: “Sorry, that’s a pre-existing condition.”
As mentioned, Bush killed his plan because the market hit a downturn and lost over twenty-five percent and seniors gasped when they realized how much they would have lost from their benefits.
Eyes wide open folks and remember the adage, “If it seems too good to be true, it probably is.
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