@7:45. Is wrong. "Each generation pays for the generation before it." Technically, by indirect force. Not direct. Mathematically, the incoming must match the outgoing. True. But by just a necessary coincidence. The first day Social Security started, the old retired people started withdrawing from the retirement plan, even though they never paid into the program one penny. This was a mathematical necessary coincidence. It's not meant to be free welfare. Just keeping the economy rolling steadily. This necessary free retirement plan to those first retirees was necessary. Who never paid for it in the first time around. It was just a side effort on a new not-for-profit banking system getting up and running. This was not defict spending to get the program started. I hope there were no hard feelings for those first-time retirees receiving benefits they themselves never paid for. AKA Passive income. This is why the not-for-profit banking system has a limit on it. For example, it must be 65 years old to withdraw. I could imagine there were salty people about the Social Security program when it first started. To see the new retirees receiving benefits they never paid for.
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only a matter of time before this happens again. It's much needed. Great job, Pres. Reason, Tip O'neil and Howard Baker
Will never happen again, republicans(and their voters) will rather let the program die, simply to "pwn the libs".
Show that to our politication
Everybody coming everybody coming
Shame today's republican party won't take notice of this
Call everybody coming everybody coming okay
Kenedy great president. Regan last great president
Congress should learn from this man .
A real President would do this things for the people of this country.
2033 and counting down.
pizza plebeian
@7:45. Is wrong. "Each generation pays for the generation before it."
Technically, by indirect force. Not direct.
Mathematically, the incoming must match the outgoing. True. But by just a necessary coincidence.
The first day Social Security started, the old retired people started withdrawing from the retirement plan, even though they never paid into the program one penny. This was a mathematical necessary coincidence. It's not meant to be free welfare. Just keeping the economy rolling steadily.
This necessary free retirement plan to those first retirees was necessary. Who never paid for it in the first time around. It was just a side effort on a new not-for-profit banking system getting up and running. This was not defict spending to get the program started.
I hope there were no hard feelings for those first-time retirees receiving benefits they themselves never paid for. AKA Passive income. This is why the not-for-profit banking system has a limit on it. For example, it must be 65 years old to withdraw.
I could imagine there were salty people about the Social Security program when it first started. To see the new retirees receiving benefits they never paid for.