Tim Graham at News Busters fisks an article at the Washington Post on the Black Family Reunion, held yesterday in Washington, DC. The Post gave it much more prominent coverage than the huge March on Washington.
Here is an excerpt from the WaPo story, provided by Tim Graham:
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Colleen Freeman, 50, said many of Obama’s critics are motivated by race. “A lot of people are protesting, and they don’t even know what they are protesting,” she said. “Some of these folks are getting Social Security, and it’s because their grandparents put in the work for it. Now they won’t give Obama a chance to work. Some know they need health care but don’t want it to be Obama that gives it to them.”
(Emphasis added.)
Wrong.
Ms. Freeman thinks that Social Security invests the money withheld from payroll, allowing grandparents to bankroll grandchildren.
Not so.
Social Security is a ginormous inefficient transfer of funds from current workers to current retirees.
That’s why the retirement of the Baby Boom generation should set your knees quaking. The Boomer generation is so big, it will suck dry the ocean of payroll withholding.
At that point, either Social Security withholding is increased or Social Security benefits are cut.
For the record, I wish that everybody would quit with the racism trope. Prez B Cool is just as much white as he is black. I don’t care whether Hawaii ever releases his “original” birth certificate. And everybody has relatives that they wish would stay locked in the attic.
I object to his pals, I object to his policies, and I object to the way he goes about imposing those policies.
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Tags: Black Family Reunion, March on Washington, Politics, social security, Washington Post
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