American People Say "NO CUTS!" to Social Security, Medicare & Medicaid

[jtown1123]

Run time: 01:32 https://www.youtube.com/watch?v=xls8DN4O7aQ   Posted on YouTube: October 03, 2011 By YouTube Member: NationalCommittee Views on YouTube: 2   Posted on DU: October 03, 2011 By DU Member: jtown1123 Views on DU: 1009

 

[defendandprotect]

1. kr

[FiveGoodMen]

2. K&R!

[Plucketeer]

3. Excellent spot!

K&R

[JDPriestly]

4. As we were when we were young, young working people are told

that they would be better off with private investments in pension funds because then they could control their investments.

People who saved for retirement know that they are not actually getting much if any income on their savings. Those with pensions are being paid something, but since I don't have one and know what "investments" are paying right now (Nada, rien, nothing), I wonder how many of the pension funds are making do in a sort of Ponzi scheme fashion -- paying out what is being paid in.

If you are still young or receiving a pension, you should look at what those pension funds and banks own -- lots of the money is funny money invested in mortgage-backed securities.

Many of the mortgages are not worth much, and their value is declining as we speak.

There is a website, Zillow.com that estimates the value of houses. Go there and check out what they think your house is really worth. You can do this even if you are renting.

Then think about your mortgage. If you are renting, you may be able to go to the County Recorder's office and get some vague idea about the mortgage your landlord owes on your rental. (I'm not sure you would get an accurate number if you can go to the Recorder's office and pull the records.) Don't forget to look for second mortgages. (And remember, you won't know whether your landlord is up-to-date on the payments or on the verge of bankruptcy.)

In short, don't be fooled into thinking your savings are safe on Wall Street or in the banks. If Wall Street played straight with us, if they were honest with us, we wouldn't be in this mess in the first place.

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We have to have Social Security. Whether you are young or old, you need Social Security to balance out any money you think you are saving. This is not the first time that Wall Street has gone seriously bust.

***

Social Security benefits are very low. Most people cannot live well at all on them. They don't really cover the costs of a nursing home for very old, helpless people.

No cuts to Social Security. Raise the cap on payroll taxes and end the payroll tax holiday. The payroll tax holiday is terribly irresponsible. Raise the taxes of the rich, especially the Wall Street brokers and the CEOs -- those who make over a million a year.

[jtown1123]

5. Well said. I agree 100%. You should make your comment an OP!

[daleanime]

6. Definitely...

deserves to be an OP!:applause: