Economic Storm Clouds
Mother Nature No - Man Made Yes
As a middle class American and one of your constituents, I?m writing to call your attention to an issue that has created significant financial challenges for millions of Americans like myself. Social Security is the issue, and more specifically excess Social Security taxes that extracted billions of dollars more than was needed from the paychecks of working Americans over the past 3 decades.
Hundreds of billions of dollars that previously flowed into local financial institutions in the form of personal payroll savings was instead diverted to the coffers of the federal government, and into the hands of your peer group. This diversion (approximately $25 for every $100 paid in) destroyed a pipeline local financial institutions depended on to fund new business startups, and existing business expansion loans; the mother?s milk of local job creation. In my opinion Mother Nature didn't create the economic storm clouds (foreclosures, lost jobs, bankruptcies) hanging over America?s main streets, they were man made, more specifically they were legislated.
Excess retirement dollar contributions now totaling more than 2.6 trillion dollars have been used for other purposes, leaving behind a new 2.6 trillion dollar Special Obligation Bond or SOB debt; misplaced trust isn't cheap. 10,000 baby boomers are eligible for retirement every day, this issue has come home to roost, and can no longer be ignored or poo pooed. Irrespective of your tenure, you?re now part of the body that created, thru diversion significant financial challenges. Therefore, I?m calling on you as my elected representative to initiate a vigorous debate by raising this issue to the level it deserves.
Millions of Americans, their families, and the communities they call home shouldn't have to reside under man made economic storm clouds. There is a better way. Please email realjoe@tampabay.rr.com (SS Information in subject line) for a full disclosure of the issues, and the proposal. Finally, relationships are built on trust, and I trust my trust will not be violated again.
Hundreds of billions of dollars that previously flowed into local financial institutions in the form of personal payroll savings was instead diverted to the coffers of the federal government, and into the hands of your peer group. This diversion (approximately $25 for every $100 paid in) destroyed a pipeline local financial institutions depended on to fund new business startups, and existing business expansion loans; the mother?s milk of local job creation. In my opinion Mother Nature didn't create the economic storm clouds (foreclosures, lost jobs, bankruptcies) hanging over America?s main streets, they were man made, more specifically they were legislated.
Excess retirement dollar contributions now totaling more than 2.6 trillion dollars have been used for other purposes, leaving behind a new 2.6 trillion dollar Special Obligation Bond or SOB debt; misplaced trust isn't cheap. 10,000 baby boomers are eligible for retirement every day, this issue has come home to roost, and can no longer be ignored or poo pooed. Irrespective of your tenure, you?re now part of the body that created, thru diversion significant financial challenges. Therefore, I?m calling on you as my elected representative to initiate a vigorous debate by raising this issue to the level it deserves.
Millions of Americans, their families, and the communities they call home shouldn't have to reside under man made economic storm clouds. There is a better way. Please email realjoe@tampabay.rr.com (SS Information in subject line) for a full disclosure of the issues, and the proposal. Finally, relationships are built on trust, and I trust my trust will not be violated again.
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