I was listening on the radio and some interesting statistics on life expectancy were mentioned... In the United States of America, black men have the shortest life expectancy (69.7), followed by white men (75.7), then black women (76.5), lastly white women (80.6).
I found it surprising that white women were expected to live almost twelve years longer than black men.
The current age of retirement, the age you need to be at before you can get your full Social Security benefits is 65. That means that black men only receive benefits for about 4.5 years. White women on the other hand receive benefits for nearly 16 years. Again a 12 year difference.
What does this mean in money terms? Well, a black male can expect to get a rate of return on his Social Security of 0.73% while a white woman can expect 2.2%. The rate of return are so horrendous that alone should be a reason to round file the entire program.
It got me thinking... Social Security is a massive ponzi scheme that relies on the taxes of people working currently, to support the retired. Of course, this is highly illegal for anybody but the Government. It is good to be the king.
Anyway, by looking at the figures above and knowing how Social Security is funded, we can say with mathematical certainty, that Social Security is a massive wealth redistribution scheme. Taking money from young black men and giving it to old white women.
Recall that the funds that you "invest" in Social Security is not actually yours, thus when you die the money in your Social Security "account" goes to the government. If you are married there are some "survivors" benefits that go to your spouse, but when she/he kicks off, Uncle Sam walks away with the rest. So, even though young black men put more money in to Social Security, there is no provision for them to bequeath those funds anywhere, but to the Government. Uncle Sam doesn't care that you have a favorite nephew, or a grandson that you want your money to go to. Uncle Sam couldn't care less if your granddaughter or niece wants to go to collage. It doesn't work like that.
If you were to walk up to someone and say that you have this really cool Government program to take money from young black men and give it to old white women, you would be run out of town on a rail as a horrific racist. But that is the exact system that the Democrats are continuing to push on the American people. Why? It gives them power over your retirement, thus power over your life after you stop working. I have a very difficult time even fathoming why people like Social Security so much, just look at the rate of returns! If you invested in the safest, Government guaranteed investment there is, the U.S. Treasury Bond (T-Bill) you are getting nearly 3%. AND you can give it to who ever you want after you take the eternal dirt nap. What's more, you get that money no matter what happens in Congress.
Congress could tomorrow pass a law that abolishes Social Security. Just shitcans the whole program. What happens to the money you "invested"? Gone. It wasn't yours anyway it was given to the current participants of the program. The current participants would be left high and dry. Thanks for playing, go die on the street now.
Why do we put up with this crap? Time to call Social Security what it is, a tax. Time to say, sorry young people, but we have to give your money to those over 55 because they didn't plan ahead. We are going to let you put your money in to a private account, though, so you will get more out of it. Let Social Security go the way of the dinosaur. Give the people back the freedom to plan for their own posterity. End this ridiculous RACIST program.
Social Security and Race NCPA