by James Wallace Harris, Saturday, September 15, 2018
I’ve been retired for five years. I’m almost 67 and the Social Security Longevity Calculator claims I’ll live to be 85. That will be in 2036. I need to financially survive another 18 years (or 216 months since we pay bills by the month). Of course, I could die this afternoon, or live to be 116. Judging my own health and psychology, I tend to think I can make it to 78, which would be 2029.
My financial security comes from a pension, social security, and a 401K. All three are under threat from conservative political ambitions. Plutocrats want to siphon off all the remaining wealth they do not control. As long as Republicans run the government, anyone who is not wildly rich should worry about their economic future, even the moderately wealthy.
Wealth inequality has been a hot topic for years, but what I’m really worried about wealth siphoning. The insanely rich are looking for large pools of money to target for acquisition. All the main sources of traditional capital investments are within their control, so they are looking at large social pools of money like Social Security, Medicare, pensions, welfare programs, public healthcare, and so on. If you look around to any large body of wealth that’s not in private hands, it’s in the crosshairs of the plutocracy.
I tend to believe, and hope, that Social Security and Medicare will be around for the rest of my life. However, the success of the greedy under Trump has been startling. Trump quickly transferred a tremendous amount of social wealth to the rich, and he’s working hard to do it again as often as possible. The conservative’s goal of shrinking the government is really a way to siphon off trillions of dollars by the wealthiest of citizens.
If they get their way, we’ll lose Social Security and Medicare, two programs I depend on, as do tens of millions of other people too. I could survive without Social Security. But I know plenty of people who couldn’t. I could survive without Medicare as long as I was willing to die when I got expensively sick. Without Medicare, having a heart attack will kill either me or kill my 401K.
As a consequence the rich siphoning off social wealth, the federal deficit is skyrocketing. Ultimately, this will destroy the economy, which will destroy everyone’s 401K savings. Without Social Security and 401K savings, I could probably still survive in the poorest part of town with just my pension as long as I didn’t even need moderate healthcare.
As the federal government comes apart, it puts the squeeze on state governments. That will threaten my pension. Of course, by then, almost everyone will be destitute, and it might not matter.
The one thing I hope comes out of the 2018 midterm and 2020 presidential elections, is stability. Of course, this is like wishing I’d win a billion dollar lottery. Too many people are casting votes simply because they don’t want to pay taxes. I don’t like paying taxes either, but all those deductions I made for fifty years is now providing me an income and medical care. I bitched then, but it’s truly wonderful now.