Thin ice
Published August 21, 2014
by Carter Wrenn, August 20, 2014.
http://www.talkingaboutpolitics.com
August 21, 2014 at 9:35 am
Jennifer Stamper says:
I am pretty tired of Social Securing constantly being brought up as if it is something I have not contributed to SIGNIFICANTLY throughout my life. I have a problem with all the people who are too lazy to work but I have contributed enough to Social Security that I should be granted my payments when I retire. The generations drawing Social Security now are the ones who have contributed to it their entire lives. Had the fed not raided the Social Security TRUST Fund we would not be in the situation we are now in with Social Security. I wish I had what I have contributed in my own private account and I could retire quite comfortably!
August 21, 2014 at 3:15 pm
Richard Bunce says:
The Fed did not raid the OASI (SS) Trust Fund. Beginning in 1983 the OASI Payroll Tax was increased to generate more revenue than was needed to pay current recipients. The extra revenue was used to buy Special Treasury Bills from the US Treasury. The US Treasury then used those funds as general revenue to pay for other government spending. That continued on for about 30 years and we are in the last few years occasionally dipping into the OASI Trust Fund to cover current benefits. When SSA cashes in a OASI Trust Fund the US Treasury pays SSA including interest with other government revenue such as income tax revenue or money it has borrowed from other entities (like China) or itself (like the Fed).
The OASI Trust Fund is estimated to last another 20 years or so depending on OASI Payroll Tax revenues. One reason some may be pushing for significantly more immigration to increase OASI Payroll tax revenue for instance.
There are lots of reasons to not be a fan of OASI... largest benefit to the wealthiest beneficiary while taxing the least profitable employers and lowest paid employees and in the end leaving ~10% of beneficiaries still living in poverty... but nobody raided the OASI Trust Fund... it was however a back door tax increase over the last 30 years that will be paid back with interest by taxpayers over the next 20 years or so.
August 21, 2014 at 12:09 pm
Norm Kelly says:
Of course it can't last. But it is the goal of our fearless, socialist, Muslim leader. He was raised on Saul Olinsky (ok. you spell it. but you know who i mean, so get over it!) The idea put forth by Saul, and fully, completely adopted by the current occupant, is that the system can only be destroyed and remade in THEIR image is if the system is so overwhelmed as to completely break it. On purpose if necessary.
So, the answer is NO it can not last. But the designers of the plan fully well know this. They just don't want you to figure it out until it's too late to change it. The southern border invasion is part of the plan to overwhelm the system. As well as to allow more Demoncrat voters into the system.
August 21, 2014 at 2:30 pm
Johnny Hiott says:
Jennifer Stamper is correct. Under lbj his administration and congress stole seven trillion dollars from the social security trust fund. Social security is NOT an entitlement. However if one were to want true statistics on those on taxpayer dole why does no one ever count the permanant leeches that are employees of govt ? At last count there numbers were over twenty one million !
August 21, 2014 at 3:25 pm
Richard Bunce says:
This is the money problem in elections... candidates promising large groups of voters government services and benefits to be paid for by other smaller groups of voters.
