Sep. 14th, 2011

cryowizard: (Default)

Просто, и со вкусом:

Twice the government has argued before the Supreme Court that Social Security is not insurance. In 1960, Health, Education and Welfare Secretary Arthur Sherwood Flemming submitted a brief to the courts stating: "The contribution exacted under the Social Security plan is a true tax. It is not comparable to a premium promising the payment of an annuity commencing at a designated age."

In a ruling that denied a man's property claim to Social Security benefits, the Supreme Court said, "It is apparent that the noncontractual interest of an employee covered by the Act cannot be soundly analogized to that of the holder of an annuity, whose right to benefits is bottomed on his contractual premium payments."

So anyone who believes Social Security is an investment plan really has only himself to blame.

via RCP

Profile

cryowizard: (Default)
cryowizard

June 2020

S M T W T F S
 123456
78910111213
14 151617181920
21222324252627
282930    

Most Popular Tags

Page Summary

Style Credit

Expand Cut Tags

No cut tags
Page generated Jul. 30th, 2025 05:24 am
Powered by Dreamwidth Studios