Michael Torbic – 3/17/05

This page was last updated on March 19, 2005.

Use lottery for Social Security; Michael Torbic; Beaver County Times; March 17, 2005.

Mr. Torbic wrote two previous letters – “Use entertainment for funding” and “Expand entitlements’ tax base” – late last year on this topic. Now he’s onto a new funding source.

Below is a detailed critique of the subject letter.

“In response to the letter writer who suggested starting a national lottery under the control of the 50 governors, who would pick a panel of 57 prominent people who have handled large sums of money and made important decisions to be in control:

“This should stop the bickering between Democrats and Republicans.”

[RWC] What is this love affair too many of us have with trying to fund all government programs via gambling?

“The Social Security program was started by Franklin Delano Roosevelt to be a people’s program to help those of low income and large families that were unable to save for their future and maintain a normal way of living.”

[RWC] What liberal BS! FDR and his fellow travelers in Congress implemented Socialist Security to increase government control over the individual. What started as a 2% tax in 1935 is now 12.4%.

Mr. Torbic wants us to believe SS was designed to be a means of wealth transference to the poor, but that’s not true. Though the program slightly favors low-income workers in terms of benefits, for the most part your individual benefits are proportional to the taxes you paid during your working life.

“Payroll deductions should continue with no cap for those earning $90,000 or more. They could afford this more than a low-wage earner or a large family. The money borrowed and replaced with IOUs should be paid back and the funds not be used for anything other than the people’s retirement.”

[RWC] The liberal mantra for increasing taxes on the “rich”: they can afford it. As I noted above, the more Socialist Security taxes you pay the greater your benefits. Therefore, to a large extent, increased taxes paid by the “rich” would be returned to them via increased benefits. In other words, increasing the max taxed earnings would also increase the Socialist Security liability.

“Under the lottery plan, there is a possibility that payroll deductions could be reduced and benefits improved.”

[RWC] Reduced payroll taxes? Is he kidding? Congress has been constantly raising the tax rate and/or the max taxed earnings for 70 years!

As in his previous letter, Mr. Torbic can’t get to the end without trying to increase benefits.

“There are states that now have a lottery that helped to build sports stadiums and other projects. The national lottery should be for the people only and help seniors who worked 30 to 40 years have a decent way of life in their retirement years.”

[RWC] More liberal BS. Gambling is better than requiring workers to plan for their own retirement by saving and investing? I’d be willing to bet Mr. Torbic considers investing in bonds and/or stock “too risky.”

When did self-reliance go out of style? Why should we require workers to be dependent on the government for “a decent way of life in their retirement years?”

“The people of this nation should put pressure on the politicians to adopt this plan.”

[RWC] Yeah, right. I’m going to call my representatives and tell them to base Socialist Security’s future on gambling – not.

Did you notice Mr. Torbic didn’t address the issue of where the money gambled in the SS lottery would come from? Will persons who purchase Pennsylvania Lottery tickets continue to purchase PA Lottery tickets, or will they switch to the new lottery? How much would a national lottery take from the Pennsylvania Lottery and thus from PA seniors? Remember, PA Lottery proceeds are used for PA seniors.