Who Stole Social Security

[Contumacious]

Government turned SS into a slush fund and ripped us off. They spent over $2 trillion dollars of our money and gave us worthless IOU's. How are they going to pay us back hold a fucking bake sale?

Here's what's going to happen...

1. Government is going to fuck taxpayers over by raising the retirement age in the hopes that people just die before they can collect benefits. Do you really want to be working a full time job when you are 70 years old?

2. Government is going to force people to pay SS taxes on every dime of income. So instead of paying the current maximum of $18,130 in SS taxes a year (combined personal/employer or self employed) people will be forced continue paying a whopping 15.3% on every dollar over the current $118,500 limit but will receive no additional benefit. A lot of middle class families are going to get hit with this.

3. Government will implement means testing to fuck some people out of their SS benefits altogether even though they were forced to pay into the system for decades.

Its not a theory all three of the above have been proposed by government multiple times.

I hate to burst your bubble but even though SS is a MANDATORY TAX the scumbags in SCOTUS ruled in Flemming v. Nestor, 363 U.S. 603 (1960)

The Court ruled that SS created no contract exists, and that there is no contractual right to receive Social Security payments. Payments due under Social Security are not “property” rights and are not protected by the Takings Clause of the Fifth Amendment.


Since SS is just another "income tax" the funds can be commingle with general revenue funds to pay for the latest war du jour and/or to chase the latest War Party boogeyman.

 

[whitehall]

The most popular response to the question how did Social Security go off track is : someone (insert a variety of names) stole the money. Chris Christie - the only candidate willing to talk about Social Security - has invoked the crazy card in both of the GOP debates. They stole it without ever asserting who 'they' is.

There is exactly zero evidence that any money has been misused. What people call 'worthless IOUs', investment professionals call cash equivalents. The Trust Fund today is what separates us from immediate 12% reduction in benefits.

It is easier for people to believe that someone stole the money rather than the system is simply broken, spinning promises out of control.

The longer article is now Independent Voter News,
Despite What You've Heard, No One Is Stealing from Social Security - IVN.us

No money has been "stolen" from Social Security.

I agree! It has been invested in safe U.S. government securities.

"Government securities"? They have the government printing presses and they can print all the IOU's they want but there is no money. LBJ made it official that it would go into the general fund and they spent it sometimes faster than it was confiscated.

 

[Lakhota]

The most popular response to the question how did Social Security go off track is : someone (insert a variety of names) stole the money. Chris Christie - the only candidate willing to talk about Social Security - has invoked the crazy card in both of the GOP debates. They stole it without ever asserting who 'they' is.

There is exactly zero evidence that any money has been misused. What people call 'worthless IOUs', investment professionals call cash equivalents. The Trust Fund today is what separates us from immediate 12% reduction in benefits.

It is easier for people to believe that someone stole the money rather than the system is simply broken, spinning promises out of control.

The longer article is now Independent Voter News,
Despite What You've Heard, No One Is Stealing from Social Security - IVN.us

No money has been "stolen" from Social Security.

I agree! It has been invested in safe U.S. government securities.

"Government securities"? They have the government printing presses and they can print all the IOU's they want but there is no money. LBJ made it official that it would go into the general fund and they spent it sometimes faster than it was confiscated.

Since you're obviously much smarter than they are, maybe you should tell China, Japan, and all the others who own U.S. debt.