More on wealth transfer, the Social Security shortfall, and rule by billionaires

Recently I’ve been writing about two subjects that turn out to be interrelated. One is wealth transfer to the super-rich and rule by billionaires (“All your money are belong to them”). The other is protecting the social insurance programs, including Social Security, from looting by the foxes, the predators of both parties. The excuse for that looting in the case of Social Security is the Trust Fund shortfall.

As it turns out, these subjects are related. The billionaires not only want to get their hands on the Social Security Trust Fund, they’re the ones who caused the shortfall in the first place. I spoke with that recently with Arnie Arnesen of New Hampshire’s WNHN radio.

Here’s that interview. (Note: there’s an error in the metadata for the file; the interview is only 15 minutes long.)

The kick-off for the interview is this set of posts:

■ Our growing income inequality causes 43% of the projected Social Security shortfall

■ America faces more than a dozen deadlines, all caused by billionaires and wealth transfer

America doesn’t have a Social Security problem, or a climate problem, or an energy problem, or an infrastructure problem. America has a “billionaire problem.” Amazingly simple, isn’t it? Solve that and we solve the rest.

GP

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Gaius Publius is a professional writer living on the West Coast of the United States. Click here for more. Follow him on Twitter @Gaius_Publius and Facebook.

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  • Kim_Kaufman

    Here’s the playbook: “As Obama Confronts Corporate Tax Reform, Past Lessons Suggest Lobbyists Will Fight For Loopholes” http://www.huffingtonpost.com/2013/02/15/obama-corporate-tax-reform_n_2680880.html“Recently, some of the same companies that have been the most successful at avoiding U.S. taxation have urged lawmakers to deal with the national debt. In December, Boeing Corp.’s chief executive, Jim McNerney, urged “everybody to give a little” to avert a fiscal crisis. Boeing’s effective tax rate from 2008 to 2010, meanwhile, not including deferred income, was -1.8 percent on $9.7 billion in profit, according to Citizens for Tax Justice. (The U.S. corporate tax rate is 35 percent.)”

  • rickcain2320

    Any economic theory based on giving rich people more money for free is not going to work.

  • http://twitter.com/RealCiv Real World Civ

    Me: “Rich man, society owes you a great debt for your hard work. What good or service can I provide to you?”

    Rich Man: “I want nothing. I prefer being indebted to than any good or service anyone can provide.”

    Me: “But we need that money back or else we will no longer be able to effectively trade goods and services.”

    Rich Man: “How about a loan?”

  • lynchie

    You don’t get it they want it now. Companies no longer have 5 and 10 year plans it is balls out for this year. for the shareholders and for their own bonuses.

  • lynchie

    Because they are all in the club. You don’t shit where you eat. You fuck the ones who can’t fight back.

  • lynchie

    He already made the decision. When he won the Noble Prize ($1 million) he knew who buttered his bread. That was a sign that you play the game you go out with millions.

  • lynchie

    Oh they want it all. Don’t kid yourself they like the trickle down. when you have billions having a few dumb shits at the bottom with a few bucks doesn’t bother them. They will get it all in the end.

  • lynchie

    You are right we are not in the club.

  • pappyvet

    We are in a lot of economic trouble, they are not, thats the trouble

  • http://adgitadiaries.com/ karmanot

    Yes, George was an American prophet on a par with Mark Twain.

  • FuzzyRabbit

    It’s pretty evident which side Obama is on. He is on the record as wanting to cut Social Security and he refuses to go after the bankers who are breaking the law. That’s all I need to know that he is for enriching the already rich. His mother would be ashamed of him.

  • condew

    That’s what worries me about Obama. In the end, will he look out for the ordinary people like those in his modest roots, or will it be more important to him that his daughters, his wife, and himself become part of the over-class?

  • http://www.rebeccamorn.com/mind BeccaM

    Whenever this topic comes up, I think always of the man who knew all along what was happening. I give you the late, great, unparalleled George Carlin.

  • silas1898

    It’s like the rich are somehow jealous of the poor and so begrudge every nickel. There also seems to be this abject fear of not being rich.
    People worldwide are pretty much the same in wanting to take care of their families, even if they can’t stand some of them :)

  • silas1898

    Even if we get some good congresscritters elected, and I believe most of them start off with good intentions, but once they get involved with this huge money trough, it becomes so easy to sell out for the ca$h. And the wining, dining, ass kissing, private jetting, amazing returns on one’s investments. The list is endless.

  • condew

    In some respects, they all want the same thing; to take good care of their families. What is sad is when your hear a rich man who is taking very good care of his family call a poor man greedy because he aspires to taking just good care of his.

  • silas1898

    “Poor man wanna be rich; rich man wanna be king”

  • condew

    I’d take a different angle. How do we convince those whose wealth comes from retail and the “service based economy” that if they gouge too deep, they destroy the basis of their own wealth. Retirees on Social Security give the economy a basil metabolism; no matter what else the economy is doing, there are seniors out there buying the goods and services they need; I know some restaurants that are probably still open because of retirees that make going out to eat as often as they can afford the high points of their week. Further, if you sell stuff other than necessities, America’s disposable income is the upper limit for your sales; no disposable income, no sales of high-profit items. Finally, the only long-term way to get rich and keep getting richer is to hire people, have them do stuff and pay them a fraction of what the stuff they do is worth. Yes, you can make money by importing cheap goods and selling them, but if you do that too long, eventually nobody has the income to buy what you sell. In time, the pool of workers to exploit becomes less skilled because nobody can afford to educate the next generation. Better to be a generous employer, you can skim more profit off a skilled workforce than an unskilled workforce.

  • condew

    With a few exceptions like Warren Buffet and George Soros.

  • JozefAL

    It’s just too bad there isn’t some way that those of us with the little money that the people with most of the money are trying to steal can’t get the people with most of the money to go after the money that other people with most of the money currently have. (Shorter version: Why can’t the billionaires go after the money of the other billionaires and leave those us with only 1% of all the money alone?)

  • ComradeRutherford

    That there is one penny not owned by them drives American billionaires insane.

  • samiinh

    Difficult to solve when most of the Congress is in the back pockets of the billionaires, and are millionaires in their own right. If they aren’t already, they are on their way to becoming millionaires by carrying the water for these thieves. NH’s junior Senator is a good example. Then there is Scott Brown, the replacement for Sarah Palin. (That’s really pretty low bar, Scott. Couldn’t you have done better than Fiction News?)

  • http://twitter.com/intotheabyss81 Aaron Riley

    A whole lot of our and the world’s problems boil down to this: The people with most of the money want ALL of the money.

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