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March 03, 2011

Insecurity over Social Security

Why all the fuss about Social Security going broke? It’s so Congress can raise Social Security taxes or lower or delay benefits to “save” Social Security and build up a surplus in a supposed “lockbox” to be used in the future.

Oh wait — that’s what they did the last time around. Then they spent all of the cash in the lockbox, and now Congress doesn’t want to pay it back.

Raising Social Security taxes now will mean this Congress does not have to pay the money back, they can pass the problem on to the next Congress. Fool me once, shame on you. Fool me twice, shame on me.

Paul Hirth
Olathe

Social Security has been beaten around by conservatives for decades. Perhaps the first entitlement cut could be the tax breaks for the top 1 percent of our citizens. The money derived from this would significantly lower the deficit.

Taxes contribute to the running of our government. Roads, schools, garbage collection, police and fire each are vital for not only citizens’ welfare but also for our economy in jobs and subsequent spending.

Each requires money to provide needed services. Social Security is paid into a separate fund from all other government spending (including the bloated military), and is not part of the federal budget. Therefore, Social Security does not contribute to the deficit. It never has.

Rosemarie Woods
Kansas City

Comments

John Haug

Some of our representatives in washington are the greatest magicians of all time. trillions of dollars disappear and nobody asks where it went. The Social Security retirement fund was set up for the old people to avoid living under the bridges and trees. One of our greatest visionary presidents set a law aside from the feds. to see to it tat our aged were taken care of. The feds. don't contribute to Social Security they only take it. This is called embezzlement anywhere. These people at the very least should be IMPEACHED. Theft is a crime and I don't remeber them asking for permission to spend my money. This program has worked well for sixty years, now the thieves have opened the door and just take without permission. That is theft.

John S

People are living longer. Raise the retirement age. Raise the income threshhold for withholding.Do some means testing.

Forget making the rich pay more. The rich work as hard as you do for their money. The rich pay too much already.

If you really want to put more money into the SS system go to work full time. Work two jobs if you have to (I did). Too many Americans pay no taxes at all. Take them off the many forms of welfare and make them pay their share.

whispering_to_kc

The biggest Republican criticism of Social Security is that people are just plain living too long these days.

That's a little peek into how the minds of most cons work, for those brave enough to look into there.

Smarter Than You

FIFTY IN THE WORLD MATHMATICS 101
(entry level Obamanomics)

Money borrowed from the Chinese counts as deficit.

Money abscounded from the American Retirement Ponzi Scheme doesn't, technically.

Pop quiz: What does money borrowed from the Chinese to meet the financial obligations of the iou’s replacing the money from the trust fund count as?

Gary

Maybe only 50 people in the world understand the math that goes into rocket science, but social security isn't rocket science, and its math is conceptually not tough.

Brandon Lyons

Lies lies lies.....Gary what accounting methods are you refering to maybe the ones that cause the banks to collaspe cause they took high risk...funny that only fifty people in the world understands that math and you trying to say your one of them...please

Gary

"Therefore, Social Security does not contribute to the deficit." Thanks to government accounting methods, that's correct. But if the government used the same accounting methods that the government requires businesses to use, it would have to realize the present value of future benefits as a current liability, and either reserve for it (not likely) or show it as a debt that far exceeds both assets and revenues.

 
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