20 May 2011

I want a refund - repost from Feb 2010

A kind of multi-faceted posting this week with the common theme of money. Not just arbitrary money, but the money that we all earn going to work every day.

I would like to have all of my Medicare and Social Security contributions returned to me in one lump sum. Just the 6.25% that I see come out every payday, then the 6.25% that my employer must put in can be held for funding existing commitments. Not only do I want a refund of monies paid to date, I do not want any future withholding from my pay. I will use that money as I deem to be most appropriate for my particular situation; save, invest, or spend, it's my choice. In return, I will not collect Social Security when I turn 65 and be a burden to future generations when I get older. I will plan for my own retirement and if I do not have enough money saved to live comfortably, I will keep working. I will not apply for Medicare either as I will be negotiating with one of the "evil" insurance companies for catastrophic care coverage that will extend until I kick the bucket. It is not the government's role to plan for my retirement, it is my responsibility. For the current generation of Social Security collectors, I apologize, but you were duped into thinking that the system was set up as a type of savings account, but it wasn't. As the baby boomers have started retiring, the system is paying out more money than it is taking in and the government has been dipping in to the kitty for decades. A significant portion of the national debt is "owed" to Social Security and since the debt keeps climbing, the system is broken.

While I am at it, I would like to see a place on my Federal Income Tax Return where I get to decide where my money goes. I would like to have the ability to decide how much covers defense, how much covers entitlements, how much goes to foreign governments, and how much goes to paying down the debt. If this were to happen, it could be used as a referendum for Congress to determine what should receive funding in the Federal Budget. I think most people in the United States are convinced that money goes to undeserving line items and this would be their opportunity to state their preferences clearly. Keep in mind that this means that the more taxes an individual pays, the more their opinion matters. The referendum needs to be a weighted average. Those who don't pay any taxes do not get to decide where the money goes.

I am sick and tired of the nanny state politicians thinking that they know what is best for the country and that spending money that doesn't exist will solve all of the problems. Anybody who has to manage their own lives understands that you can not continually spend more money than you take in. Some day the bills come due, yet the Congress does not seem to get it.

When the Congress and the President acknowledge that printing money only causes inflation (more dollars chasing the same amount of goods) and that the best way to stimulate the economy is to quit proposing more regulation and taxes, this country will be on the road to recovery. If they choose to maintain the trajectory that they are taking us on, we are in for a depression of historic magnitude. Inflation will skyrocket and all of the "green jobs" on the planet will not save us.

As Thomas Paine wrote; "These are the times that try men's souls." We are heading into the most trying time endured by most Americans alive today and our government is taking us their. Paine, in the same essay, also wrote "Tyranny, like hell, is not easily conquered: yet we have the consolation with us, that the harder the conflict, the more glorious the triumph". It is time to take our country back from the egalitarians who have decided that they have all of the answers and know where our money, not theirs, should be spent.

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