It's a drag, no, it's shameful and pathetic that the best hope for keeping Social Security intact is a deadlock on the panel that's looking into butchering the most successful program that emerged from the New Deal. But, as David Dayen and Joan McCarter pointed out last week, the prospect of stalemate on the National Commission on Fiscal Responsibility and Reform is worth a cheer. That entity didn't get nicknamed the "catfood commission" for no good reason.

There is always the chance that President Obama would veto any cuts in Social Security the Congress adopted on the commission's recommendations in its forthcoming December report. But it's far better to keep those recommendations out of the hands of Congress in the first place since 99 percent of Republicans and an enabling one or two dozen Blue Dogs would likely approve cuts. There's an alliance of progressives led by Sen. Bernie Sanders and Rep. Raul Grijalva who have lined up 116 members of the Senate and House in opposition to any cuts. But welcome as that push-back is, well, you can do the math. If the commission's recommendations do make it to Congress, don't be surprised if Social Security cuts are labeled patriotic retirement enhancements.

The idiocy of taking the ax to Social Security got a good going over again Tuesday by Paul N. Van de Water. He's currently a senior fellow at the Center on Budget and Policy Priorities, and he has 25 years of top-level experience at the Social Security Administration and Congressional Budget Office. He wrote:

Here are the facts. Social Security is a well-run, fiscally responsible program. People earn retirement, survivors, and disability benefits by making payroll tax contributions during their working years. Those taxes and other revenues are deposited in the Social Security trust funds, and all benefits and administrative expenses are paid out of the trust funds. The amount that Social Security can spend is limited by its payroll tax income plus the balance in the trust funds.

The Social Security trustees — the official body charged with evaluating the program’s long-term finances — project that Social Security can pay 100 percent of promised benefits through 2037 and about three-quarters of scheduled benefits after that, even if Congress makes no changes in the program. Relatively modest changes would put the program on a sound financial footing for 75 years and beyond.

Nonetheless, some critics are attempting to undermine confidence in Social Security with wild and blatantly false accusations. They allege that the trust funds have been “raided” or disparage the trust funds as “funny money” or mere “IOUs.” Some even label Social Security a “Ponzi scheme” after the notorious 1920s swindler Charles Ponzi. All of these claims are nonsense. ...

Moreover, Social Security is the “polar opposite of a Ponzi scheme,” says the man who quite literally wrote the book about Ponzi’s famous scam, Boston University professor Mitchell Zuckoff.

"All these claims are nonsense." No matter how many times it gets said, the privatizers, whackers and hackers of Social Security, the guys who want to transform a secure program that has reduced poverty of the elderly into a bilk-the-pensioners scam will keep repeating the lies that the program is going broke and they know how to fix it. Just chop a little here and there and let their pals on Wall Street help out with some ... uh... adjustments. The better Democrats on the campaign trail should use this opportunity to remind voters what's at stake.

Hullabaloo

Tuesday, October 05, 2010

Suitable For Lamination

by digby

Do yourself a favor and print this out. Or memorize it. Read it at least. It is written by Paul N. Van de Water, a Senior Fellow at the Center on Budget and Policy Priorities, where he specializes in Medicare, Social Security, and health coverage issues:

In a new paper, I’ve tried to correct some of the misinformation that critics of Social Security have been spreading about the program.

Here are the facts. Social Security is a well-run, fiscally responsible program. People earn retirement, survivors, and disability benefits by making payroll tax contributions during their working years. Those taxes and other revenues are deposited in the Social Security trust funds, and all benefits and administrative expenses are paid out of the trust funds. The amount that Social Security can spend is limited by its payroll tax income plus the balance in the trust funds.

The Social Security trustees — the official body charged with evaluating the program’s long-term finances — project that Social Security can pay 100 percent of promised benefits through 2037 and about three-quarters of scheduled benefits after that, even if Congress makes no changes in the program. Relatively modest changes would put the program on a sound financial footing for 75 years and beyond.

Nonetheless, some critics are attempting to undermine confidence in Social Security with wild and blatantly false accusations. They allege that the trust funds have been “raided” or disparage the trust funds as “funny money” or mere “IOUs.” Some even label Social Security a “Ponzi scheme” after the notorious 1920s swindler Charles Ponzi. All of these claims are nonsense.

Every year since 1984, Social Security has collected more in payroll taxes and other income than it pays in benefits and other expenses. (The authors of the 1983 Social Security reform law did this on purpose in order to help pre-fund some of the costs of the baby boomers’ retirement.) These surpluses are invested in U.S. Treasury securities that are every bit as sound as the U.S. government securities held by investors around the globe; investors regard these securities as among the world’s very safest investments.

Investing the trust funds in Treasury securities is perfectly appropriate. The federal government borrows funds from Social Security to help finance its ongoing operations in the same way that consumers and businesses borrow money deposited in a bank to finance their spending. In neither case does this represent a “raid” on the funds. The bank depositor will get his or her money back when needed, and so will the Social Security trust funds.

As far back as 1938, independent advisors to Social Security firmly endorsed the investment of Social Security surpluses in Treasury securities, saying that it does “not involve any misuse of these moneys or endanger the safety of these funds.”

Moreover, Social Security is the “polar opposite of a Ponzi scheme,” says the man who quite literally wrote the book about Ponzi’s famous scam, Boston University professor Mitchell Zuckoff. The Social Security Administration’s historian has a piece on this topic as well.

Unlike the frauds of Ponzi — and, more recently, Bernard Madoff — Social Security does not promise unrealistically large financial returns and does not require unsustainable increases in the number of participants to remain solvent. Instead, for the past 75 years it has provided a foundation that workers can build on for retirement as well as social insurance protection to families whose breadwinner dies and workers who become disabled.

See how simple that is?

.

digby 10/05/2010 09:00:00 PM

|

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Dr. eric seiger

Here are the facts. Social Security is a well-run, fiscally responsible program. People earn retirement, survivors, and disability benefits by making payroll tax contributions during their working years. Those taxes and other revenues are deposited in the Social Security trust funds, and all benefits and administrative expenses are paid out of the trust funds. The amount that Social Security can spend is limited by its payroll tax income plus the balance in the trust funds.

The Social Security trustees — the official body charged with evaluating the program’s long-term finances — project that Social Security can pay 100 percent of promised benefits through 2037 and about three-quarters of scheduled benefits after that, even if Congress makes no changes in the program. Relatively modest changes would put the program on a sound financial footing for 75 years and beyond.

Nonetheless, some critics are attempting to undermine confidence in Social Security with wild and blatantly false accusations. They allege that the trust funds have been “raided” or disparage the trust funds as “funny money” or mere “IOUs.” Some even label Social Security a “Ponzi scheme” after the notorious 1920s swindler Charles Ponzi. All of these claims are nonsense. ...

Moreover, Social Security is the “polar opposite of a Ponzi scheme,” says the man who quite literally wrote the book about Ponzi’s famous scam, Boston University professor Mitchell Zuckoff.

Hullabaloo

Tuesday, October 05, 2010

Suitable For Lamination

by digby

Do yourself a favor and print this out. Or memorize it. Read it at least. It is written by Paul N. Van de Water, a Senior Fellow at the Center on Budget and Policy Priorities, where he specializes in Medicare, Social Security, and health coverage issues:

In a new paper, I’ve tried to correct some of the misinformation that critics of Social Security have been spreading about the program.

Here are the facts. Social Security is a well-run, fiscally responsible program. People earn retirement, survivors, and disability benefits by making payroll tax contributions during their working years. Those taxes and other revenues are deposited in the Social Security trust funds, and all benefits and administrative expenses are paid out of the trust funds. The amount that Social Security can spend is limited by its payroll tax income plus the balance in the trust funds.

The Social Security trustees — the official body charged with evaluating the program’s long-term finances — project that Social Security can pay 100 percent of promised benefits through 2037 and about three-quarters of scheduled benefits after that, even if Congress makes no changes in the program. Relatively modest changes would put the program on a sound financial footing for 75 years and beyond.

Nonetheless, some critics are attempting to undermine confidence in Social Security with wild and blatantly false accusations. They allege that the trust funds have been “raided” or disparage the trust funds as “funny money” or mere “IOUs.” Some even label Social Security a “Ponzi scheme” after the notorious 1920s swindler Charles Ponzi. All of these claims are nonsense.

Every year since 1984, Social Security has collected more in payroll taxes and other income than it pays in benefits and other expenses. (The authors of the 1983 Social Security reform law did this on purpose in order to help pre-fund some of the costs of the baby boomers’ retirement.) These surpluses are invested in U.S. Treasury securities that are every bit as sound as the U.S. government securities held by investors around the globe; investors regard these securities as among the world’s very safest investments.

Investing the trust funds in Treasury securities is perfectly appropriate. The federal government borrows funds from Social Security to help finance its ongoing operations in the same way that consumers and businesses borrow money deposited in a bank to finance their spending. In neither case does this represent a “raid” on the funds. The bank depositor will get his or her money back when needed, and so will the Social Security trust funds.

As far back as 1938, independent advisors to Social Security firmly endorsed the investment of Social Security surpluses in Treasury securities, saying that it does “not involve any misuse of these moneys or endanger the safety of these funds.”

Moreover, Social Security is the “polar opposite of a Ponzi scheme,” says the man who quite literally wrote the book about Ponzi’s famous scam, Boston University professor Mitchell Zuckoff. The Social Security Administration’s historian has a piece on this topic as well.

Unlike the frauds of Ponzi — and, more recently, Bernard Madoff — Social Security does not promise unrealistically large financial returns and does not require unsustainable increases in the number of participants to remain solvent. Instead, for the past 75 years it has provided a foundation that workers can build on for retirement as well as social insurance protection to families whose breadwinner dies and workers who become disabled.

See how simple that is?

.

digby 10/05/2010 09:00:00 PM

|

eric seiger

T-Mobile Reducing Data Cap, Will Throttle Speeds After 5GB Of ...

Bad news for those of you that use more than 5GB of data each month. Starting October 16th, T-Mobile will enforce a new policy that will reduce data speeds.

Today's News: a slick unofficial iPad app for The Guardian newspaper

When The Guardian newspaper released its Open API, interesting and potentially cool things were bound to happen. Developers love great content and great ...

Yankees ALCS News - Pinstripe Alley

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T-Mobile Reducing Data Cap, Will Throttle Speeds After 5GB Of ...

Bad news for those of you that use more than 5GB of data each month. Starting October 16th, T-Mobile will enforce a new policy that will reduce data speeds.

Today's News: a slick unofficial iPad app for The Guardian newspaper

When The Guardian newspaper released its Open API, interesting and potentially cool things were bound to happen. Developers love great content and great ...

Yankees ALCS News - Pinstripe Alley

skin

and vein center

Here are the facts. Social Security is a well-run, fiscally responsible program. People earn retirement, survivors, and disability benefits by making payroll tax contributions during their working years. Those taxes and other revenues are deposited in the Social Security trust funds, and all benefits and administrative expenses are paid out of the trust funds. The amount that Social Security can spend is limited by its payroll tax income plus the balance in the trust funds.

The Social Security trustees — the official body charged with evaluating the program’s long-term finances — project that Social Security can pay 100 percent of promised benefits through 2037 and about three-quarters of scheduled benefits after that, even if Congress makes no changes in the program. Relatively modest changes would put the program on a sound financial footing for 75 years and beyond.

Nonetheless, some critics are attempting to undermine confidence in Social Security with wild and blatantly false accusations. They allege that the trust funds have been “raided” or disparage the trust funds as “funny money” or mere “IOUs.” Some even label Social Security a “Ponzi scheme” after the notorious 1920s swindler Charles Ponzi. All of these claims are nonsense. ...

Moreover, Social Security is the “polar opposite of a Ponzi scheme,” says the man who quite literally wrote the book about Ponzi’s famous scam, Boston University professor Mitchell Zuckoff.

Hullabaloo

Tuesday, October 05, 2010

Suitable For Lamination

by digby

Do yourself a favor and print this out. Or memorize it. Read it at least. It is written by Paul N. Van de Water, a Senior Fellow at the Center on Budget and Policy Priorities, where he specializes in Medicare, Social Security, and health coverage issues:

In a new paper, I’ve tried to correct some of the misinformation that critics of Social Security have been spreading about the program.

Here are the facts. Social Security is a well-run, fiscally responsible program. People earn retirement, survivors, and disability benefits by making payroll tax contributions during their working years. Those taxes and other revenues are deposited in the Social Security trust funds, and all benefits and administrative expenses are paid out of the trust funds. The amount that Social Security can spend is limited by its payroll tax income plus the balance in the trust funds.

The Social Security trustees — the official body charged with evaluating the program’s long-term finances — project that Social Security can pay 100 percent of promised benefits through 2037 and about three-quarters of scheduled benefits after that, even if Congress makes no changes in the program. Relatively modest changes would put the program on a sound financial footing for 75 years and beyond.

Nonetheless, some critics are attempting to undermine confidence in Social Security with wild and blatantly false accusations. They allege that the trust funds have been “raided” or disparage the trust funds as “funny money” or mere “IOUs.” Some even label Social Security a “Ponzi scheme” after the notorious 1920s swindler Charles Ponzi. All of these claims are nonsense.

Every year since 1984, Social Security has collected more in payroll taxes and other income than it pays in benefits and other expenses. (The authors of the 1983 Social Security reform law did this on purpose in order to help pre-fund some of the costs of the baby boomers’ retirement.) These surpluses are invested in U.S. Treasury securities that are every bit as sound as the U.S. government securities held by investors around the globe; investors regard these securities as among the world’s very safest investments.

Investing the trust funds in Treasury securities is perfectly appropriate. The federal government borrows funds from Social Security to help finance its ongoing operations in the same way that consumers and businesses borrow money deposited in a bank to finance their spending. In neither case does this represent a “raid” on the funds. The bank depositor will get his or her money back when needed, and so will the Social Security trust funds.

As far back as 1938, independent advisors to Social Security firmly endorsed the investment of Social Security surpluses in Treasury securities, saying that it does “not involve any misuse of these moneys or endanger the safety of these funds.”

Moreover, Social Security is the “polar opposite of a Ponzi scheme,” says the man who quite literally wrote the book about Ponzi’s famous scam, Boston University professor Mitchell Zuckoff. The Social Security Administration’s historian has a piece on this topic as well.

Unlike the frauds of Ponzi — and, more recently, Bernard Madoff — Social Security does not promise unrealistically large financial returns and does not require unsustainable increases in the number of participants to remain solvent. Instead, for the past 75 years it has provided a foundation that workers can build on for retirement as well as social insurance protection to families whose breadwinner dies and workers who become disabled.

See how simple that is?

.

digby 10/05/2010 09:00:00 PM

|

Dr. eric seiger

T-Mobile Reducing Data Cap, Will Throttle Speeds After 5GB Of ...

Bad news for those of you that use more than 5GB of data each month. Starting October 16th, T-Mobile will enforce a new policy that will reduce data speeds.

Today's News: a slick unofficial iPad app for The Guardian newspaper

When The Guardian newspaper released its Open API, interesting and potentially cool things were bound to happen. Developers love great content and great ...

Yankees ALCS News - Pinstripe Alley

eric seiger do

eric seiger dermatologist

T-Mobile Reducing Data Cap, Will Throttle Speeds After 5GB Of ...

Bad news for those of you that use more than 5GB of data each month. Starting October 16th, T-Mobile will enforce a new policy that will reduce data speeds.

Today's News: a slick unofficial iPad app for The Guardian newspaper

When The Guardian newspaper released its Open API, interesting and potentially cool things were bound to happen. Developers love great content and great ...

Yankees ALCS News - Pinstripe Alley

eric seiger

T-Mobile Reducing Data Cap, Will Throttle Speeds After 5GB Of ...

Bad news for those of you that use more than 5GB of data each month. Starting October 16th, T-Mobile will enforce a new policy that will reduce data speeds.

Today's News: a slick unofficial iPad app for The Guardian newspaper

When The Guardian newspaper released its Open API, interesting and potentially cool things were bound to happen. Developers love great content and great ...

Yankees ALCS News - Pinstripe Alley

eric seiger

T-Mobile Reducing Data Cap, Will Throttle Speeds After 5GB Of ...

Bad news for those of you that use more than 5GB of data each month. Starting October 16th, T-Mobile will enforce a new policy that will reduce data speeds.

Today's News: a slick unofficial iPad app for The Guardian newspaper

When The Guardian newspaper released its Open API, interesting and potentially cool things were bound to happen. Developers love great content and great ...

Yankees ALCS News - Pinstripe Alley

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big seminar 14

T-Mobile Reducing Data Cap, Will Throttle Speeds After 5GB Of ...

Bad news for those of you that use more than 5GB of data each month. Starting October 16th, T-Mobile will enforce a new policy that will reduce data speeds.

Today's News: a slick unofficial iPad app for The Guardian newspaper

When The Guardian newspaper released its Open API, interesting and potentially cool things were bound to happen. Developers love great content and great ...

Yankees ALCS News - Pinstripe Alley

big seminar 14

Like millions of other internet users, I spent several months combing the web, looking for creative ways to earn an online income. There are so many scams (many of them packaged in very shiny, attractive packages) that it's virtually impossible to know where to start. One search after another, and you'll often end up right back where you started. You may start to doubt that it's even possible to make money legitimately online.

So what do you do?

Well, there are a few key things you need to remember when you begin your online money-making endeavor, whether it's starting your own business or just selling other companies' products.

1. It will not happen overnight

To anyone who's new to working online, you may come into it thinking that you can earn thousands of dollars overnight just by signing up for some program. Well, it's not true, and any program that promises you that is a scam. Just like with any other job, making money online requires hard work, commitment, passion, and a drive to succeed. If your heart isn't in it, you may as well not even try. Expel the phrase "get rich quick" from your mind forever. The only way you can ever do that is in a casino - and only if you're really, really lucky.

2. It is possible to begin without spending any of your own money

Free advertising is possible on the web. I myself started out this way, by writing articles and promoting my blog and websites. This is where the commitment and hard work come into play; you're going to need to spend several hours a day doing research, writing about your product(s) and your experiences, and networking with others who are doing exactly what you are. Understand that none of these things, however, require that you spend money. The only thing you're investing is your time.

3. You need to be constantly active

I started my online marketing career by spending 8-10 hours a day writing, networking, and researching. No matter what your level of experience, you can ALWAYS learn something new. The internet is an amazing venue, but it's an ever-changing beast - much like the stock market. You need to be prepared to tweak your campaign every day to accommodate the changes taking place on the internet.

The bottom line:

You can make money legitimately online. You do, however, need to go into it with the right mindset (i.e., a willingness to learn), a lot of time, and a good work ethic. I would strongly advise against starting your online career if you've just been fired or are about to be evicted from your apartment. Have a stable, dependable income and start putting money away for when/if you do decide to start investing in your online career.

big seminar 14

Thursday, October 14, 2010

Making Money Scam

Hullabaloo

Tuesday, October 05, 2010

Hullabaloo

Tuesday, October 05, 2010

Hullabaloo

Tuesday, October 05, 2010

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