Social Security is a hot topic these days, especially because during the election, Democrats loved telling people Republicans (especially TRUMP) will end Social Security leaving OLD PEOPLE TO DIE but the reality is ... Social Security in its current state is a hot mess that is doing far more damage than good.
True story.
And even if we don't end it we must reform it.
Hey, don't take our word for it, listen to Senator Mike Lee who is far smarter on this topic:
🧵🚨 1. Of all the deceptive sales techniques the U.S. government has used on the American people, one of them—the Social Security Act—gets far too little attention. Buckle up because this is a wild ride. pic.twitter.com/kVM6zYnOfN
— Mike Lee (@BasedMikeLee) December 3, 2024
He's right.
Buckle up.
2. In 1935, the American people were sold a bill of goods. They were told, “Pay into this system, and it'll be YOUR money for retirement.” Sounds great, right? pic.twitter.com/vornmRyOY1
— Mike Lee (@BasedMikeLee) December 3, 2024
He's right, this sounds awesome. Pay into our system and we'll take care of you when you're old.
But this is the government we're talking about here ...
3. But here's where it gets juicy, in a really ugly way. Two years later, when the Supreme Court was considering the constitutionality of the Social Security Act, the government did a complete 180. pic.twitter.com/lI5wTE39oa
— Mike Lee (@BasedMikeLee) December 3, 2024
Ya' don't say.
4. The government—through Assistant Attorney General Robert Jackson—argued in essence, “Oh no, this isn’t YOUR money at all. This is a TAX, and we can do whatever we want with it.” Classic bait and switch. pic.twitter.com/NCNFJOs0lz
— Mike Lee (@BasedMikeLee) December 3, 2024
A. TAX.
5. Let’s not forget the ruling in Helvering v. Davis, where the Supreme Court upheld the Social Security Act by embracing the government’s argument / admission that what people pay into Social Security is tax revenue—available to be used as Congress may direct—and not at all… pic.twitter.com/iGoTqfEoGx
— Mike Lee (@BasedMikeLee) December 3, 2024
There's the key part, available to be used as Congress may direct.
Another tax.
6. So, to summarize: the proponents of the Social Security Act told American workers that what they paid into the system would remain *their* money, not the government’s—to get Congress to pass it—and then told the courts the exact opposite when defending the Act’s… pic.twitter.com/V0ygmHSkvL
— Mike Lee (@BasedMikeLee) December 3, 2024
Progressives.
Yay.
7. Now, let’s talk about what happens to “your money” once it’s in the government's hands. Spoiler alert: it’s not managed like your IRA or 401(k).
— Mike Lee (@BasedMikeLee) December 3, 2024
Here's where it gets really infuriating:
8. First of all, this money doesn’t sit in a nice, individual account with your name on it. No, it goes into a huge account called the “Social Security Trust Fund.”
— Mike Lee (@BasedMikeLee) December 3, 2024
It's basically a giant slush fund.
9. But here’s the kicker—the government routinely raids this fund. Yes, you heard that right. They take “your money” and use it for whatever the current Congress deems “necessary.”
— Mike Lee (@BasedMikeLee) December 3, 2024
Ukraine? DEI? Ahem.
10. Every few years, there’s talk in Congress about “saving Social Security.” I’ve introduced and cosponsored a number of measures over the years that would fix it. But most in Congress show little desire to fix it, and are instead constantly looking for ways to “borrow” from…
— Mike Lee (@BasedMikeLee) December 3, 2024
Congress doesn't have a revenue problem.
Congress has a spending problem.
But we digress.
11. And the returns? Forget about compound interest or stock market gains. Your “investment” in Social Security can give you a return lower than inflation.
— Mike Lee (@BasedMikeLee) December 3, 2024
You basically lose money.
Wheeeee.
12. If you had put the same amount into literally ANYTHING else—a mutual fund, real estate, even a savings account—you’d be better off by the time you reached retirement age, even if the government kept some of it!
— Mike Lee (@BasedMikeLee) December 3, 2024
Literally ANYTHING else.
13. Do the math: with Social Security, you’re looking at a return that's pathetic compared to market averages. It’s not even an investment; it's a tax.
— Mike Lee (@BasedMikeLee) December 3, 2024
There's that annoying word again.
TAX.
14. And let’s talk about how this system is set up to fail. The demographic shift? More retirees, fewer workers. It’s almost fair to compare it to a Ponzi scheme that’s running out of new investors.
— Mike Lee (@BasedMikeLee) December 3, 2024
No way those of us born after 1970 ever see a penny.
15. Every dollar you pay into Social Security, only to see it gobbled up by the government itself, is a dollar you can’t invest in your own future. It’s government dependency at its worst.
— Mike Lee (@BasedMikeLee) December 3, 2024
Government dependency in general is the worst.
16. Remember, this isn’t just about retirement. It’s about independence, about controlling your own destiny. With Social Security, you control nothing.
— Mike Lee (@BasedMikeLee) December 3, 2024
You. Control. Nothing.
It's the government's way.
17. The government promises you security but gives you dependency. It promises ownership but gives you a tax receipt.
— Mike Lee (@BasedMikeLee) December 3, 2024
Grrrr.
18. And don’t get me started on the management. The Social Security Administration is a bureaucratic behemoth, not exactly known for its efficiency or innovation.
— Mike Lee (@BasedMikeLee) December 3, 2024
It is, after all, the government.
19. If you think your money is safe there, you’re in for a rude awakening. The mismanagement, the waste, the deception—it’s all on display.
— Mike Lee (@BasedMikeLee) December 3, 2024
And they still want MORE from us.
20. So, what’s the solution? We need real, genuine reform. Within the Social Security system, Americans should be able to invest in their own future, and not be shackled by the worst parts of this outdated, mismanaged system.
— Mike Lee (@BasedMikeLee) December 3, 2024
Bingo.
21. It’s time we acknowledge the truth: Social Security as it now exists isn’t a retirement plan; it’s a tax plan with retirement benefits as an afterthought.
— Mike Lee (@BasedMikeLee) December 3, 2024
It's robbing Americans to pay for pet projects.
We said what we said.
22. We were sold a dream, but received a nightmare. It’s time for a wake-up call. We need real reform.
— Mike Lee (@BasedMikeLee) December 3, 2024
WINNER WINNER CHICKEN DINNER.
23. It’s time for Americans to know the true history of the Social Security Act. The more people learn the truth, the more they’ll start demanding answers, options, and real reform from Congress. Please help spread the word.
— Mike Lee (@BasedMikeLee) December 3, 2024
In this case knowledge truly is power.
24. The history of the Social Security Act—which sadly must include the deceptive manner in which it was sold to the American people—is yet another reason why America’s century-long era of progressive government must be brought to a close.
— Mike Lee (@BasedMikeLee) December 3, 2024
... yet another reason why America's century-long era of progressive government must be brought to a close.
No joke.
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