Tag Archives: entitlements

Promoted from comments (my own actually)

Chatting with the Arborist in a post below, I noted something I’ve been meaning to write about, but I never got around to it.

On FOX News a few years ago in a conversation about those lazy masses dragging down good honest hard working ‘mericans, actor Craig Nelson famously said: “I’ve had hard times too. I’ve even been on food stamps and welfare. Did anybody help me? No.”

Entitlement my poptart . . . we paid for it!

Stipulated: The average American worker contributed to their Social Security and their employer did as well; that contribution totaled 15% of  income before taxes.

These figures below reflect the 49 years worked by the man who made these calculations. Punch in your own numbers.

  • If you averaged $30K/year over your working life, the 15% contribution is $4500 a year.
  • Over 49 years, that adds up to nearly $220,500 total cash contribution.
  • If you calculate the future value of $4,500 per year  at a simple 5%, after 49 years of working you’d have $892,919.98.
  • If you took out only 3% per year, you’d receive $26,787.60 per year and it would last better than 30 years.

(h/t friend Ed)

Memo to Dems: language matters

They've tried to kill SS for 50 years.

I’m listening to Obama’s press conference right now and getting a bit frustrated. If I could whisper in his ear, I’d tell him:

Don’t say  “I think this is what the American people want”.  Say “This is what the American people want.”

Don’t use the future tense, as “I”m willing to move in their direction”, be firm and say “We’ve already moved in their direction”

Dont’ say ‘entitlements’: We didn’t use to call SS and Medicare ‘entitlements’, because they were shared programs and everyone paid in; then 20 years ago the GOP carefully – and very successfully – injected that word into the mainstream.  And your Democrats? What did they do? Why they just went along and today you’re up there reading from their script, calling the social contract with the American people ‘entitlements’.

OMG! Fair and balanced? Do you know that’s FOX News logo?

And really, Mr. President, you keep referring to ‘raising taxes’. How about “its time to  remove outdated corporate entitlements but not starting until 2013. And for the very richest Americans, we’re asking them to pay Clinton-era marginal rates. That is all. Those rates are already historically low.” But he keeps using the words ‘raising taxes’. Even when you say you’re not doing it, phrase it differently!

Language matters, Mr. President. Language matters.