Saturday, October 5, 2019

Why the gap keeps growing.

A post on facebook re how the govt owes the Social Security Fund 2.5 Trillion dollars brought forth this response. It explains why the gap between the rich and the middle class keeps growing.

" So, not only do you miss the benefit of compounding interest that should occur on a good investment, the government also takes your investment and leaves you with a stack of IOUs. I repeat, THERE IS NO SS RESERVE FUND. There is only a computer entry and a stack of IOUs. If the govt had to repay the Trillions it took from SS it could only do it from current taxes, new taxes or printing the money. Every time someone in politics brings up the need to restructure SS so you can reap the benefits of saving and investing, the Democrats and the Press start shrieking that that would subject you to the loss that occurs when the Market goes down. So you poor chumps let the Dems keep on spending your money. But think for a minute.Does Warren Buffet suffer when the Market goes down? Do the top ten percent or the top one percent? Maybe so. BUT THEY MANAGE TO GET RICHER OVER THE LONG RUN. And the gap between Buffet and you keeps getting bigger because you are prevented from getting the benefits that investing in the talents of our people and the productivity of capitalism should bring us. Jesus told us in the parable of the talents and the parable of the minas that making profit (including interest) on an investment is good and burying our money without profit is bad. Demanding that the govt invest our earnings so we can share in the productivity of our country is NOT greed. It is the right thing to do. But voting for Socialists is bad because they steal money from people. Socialism tolerates the loss of capital so in the end women have to sell their bodies and their hair to make ends meet. And you stand in line for bread for hours. I have seen it, I have lived it."

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