Dear Editor:
Mr. Beatty apparently believes it is a fair concept that the value of IOUs held by the Social Security Trust Fund is based upon the future work of present and yet unborn American citizens, which is exactly how Social Security works.
Consequently, Mr. Beatty believes in slavery because people yet unborn supposedly owe him their money before they even earn it. The aforementioned belief system is rather typical of Democrats/Socialists but as usual, the truth is very upsetting to them.
I assume most people do not know there is no language in Social Security system laws that state the money any individual contributes, forcibly by the way, actually belongs to the individual. Individuals do not own any of their individual Social Security contributions.
The federal government confiscates all such contributions for current fiscal year federal expenditures, thus the IOUs given to the nonexistent Social Security Trust Fund, which represents even more borrowing from foreign countries, and puts America deeper in debt. Apparently, even if American debt reached $100 trillion Mr. Beatty will still be able to buy his eggs at Aldi's.
Mr. Beatty should never have mentioned he is a retired teacher from Illinois. Teacher unions and teacher's pension plans are the main cause of financial instability for some states, especially Illinois. From the Illinois Review Website, Kevin Williamson of National Review On-line sums it up this way: "Illinois is borrowing money it will have to repay eventually to repay the pension money it already spent to pay for other spending it couldn't afford then and can't afford now." From the ChicagoBuisiness.com website, "the Illinois Teachers' Retirement System plans to sell $3 billion in investments, or about 10 percent of its $33.1 billion in assets, in the current fiscal year to pay pension benefits." This was back in late August, 2010. Is there trouble in the Illinois liberal retirement system paradise?
Judging by the value of Mr. Beatty's bond sale his wealth level puts him into the evil rich category the class warfare Democrats hate so much. Mr. Beatty, your wealth should now be a target of the liberals you call your friends; or does the condescending Roosevelt viewpoint of helping the "little people" protect you from fiscal assault?
In closing, you'll will be disappointed to learn Obama has violated the Logan Act and your support of him makes you an accessory.
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