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Was the Social Security Money Borrowed or Stolen? - 7/12/2010 6:28:45 PM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		"The rationale for cutting Social Security seems to be that, during such difficult economic times, everything should be a candidate for the chopping block, and that the public should support such cuts out of a sense of patriotism." I don't think Americans are that patriotic most will think the money is stolen.
Bill

Was the Social Security Money “Borrowed” or “Stolen”?

'The intent of the 1983 legislation was to generate large Social Security surpluses for the next 30 years that were supposed to be saved and invested, in order to build up a large reserve in the trust fund that could later be drawn down to pay benefits to the baby boomers. The 1983 payroll tax hike has generated more than $2.5 trillion that is supposed to be in the trust fund. If the trust fund actually held this amount in real assets, full Social Security benefits could be paid until at least 2037 without any changes.

Unfortunately, none of the surplus revenue was saved or invested in anything. It was all spent by the government on wars and other government programs without making any provisions for repaying the money.

Over the past 25 years, five presidents, and the members of Congress, have participated in the great Social Security scam. All Social Security contributions made by working Americans, except the amount which was needed to pay current retirement benefits, has been funneled into the general fund and used for non-Social Security purposes. Some like to say that the government just “borrowed” the money during the time period when it was not needed to pay benefits.'

http://dissidentvoice.org/2010/07/was-the-social-security-money-%E2%80%9Cborrowed%E2%80%9D-or-%E2%80%9Cstolen%E2%80%9D/





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RE: Was the Social Security Money Borrowed or Stolen? - 7/12/2010 6:53:18 PM   
servantforuse


Posts: 6363
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Status: offline 		Bernie Madoff is sitting in prison for doing the exact same thing.

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RE: Was the Social Security Money Borrowed or Stolen? - 7/12/2010 6:57:46 PM   
pahunkboy


Posts: 33061
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From: Central Pennsylvania
Status: offline 		Hopefully everything is fine.

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RE: Was the Social Security Money Borrowed or Stolen? - 7/12/2010 7:58:48 PM   
Brain


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Status: offline 		And others who stole people's Social Security money should be in jail too but the law is not for everybody.

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RE: Was the Social Security Money Borrowed or Stolen? - 7/13/2010 7:37:49 AM   
pahunkboy


Posts: 33061
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From: Central Pennsylvania
Status: offline 		-- the govt will kill us before it gets that bad.

A bio germ.

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RE: Was the Social Security Money Borrowed or Stolen? - 7/13/2010 10:36:49 AM   
willbeurdaddy


Posts: 11894
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Status: offline 		Too bad the author of the article doesnt have a clue what he's talking about.

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RE: Was the Social Security Money Borrowed or Stolen? - 7/13/2010 1:46:55 PM   
rulemylife


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quote:

ORIGINAL: willbeurdaddy

Too bad the author of the article doesnt have a clue what he's talking about.


If Willbeur says so that's good enough for me.

Everyone please ignore the article. 

It has no validity.

So sayeth the Willbeur.



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RE: Was the Social Security Money Borrowed or Stolen? - 7/13/2010 1:54:54 PM   
pahunkboy


Posts: 33061
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From: Central Pennsylvania
Status: offline 		I am sure it is in a lockbox.


LOL

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RE: Was the Social Security Money Borrowed or Stolen? - 7/13/2010 6:22:24 PM   
alwayssummer


Posts: 89
Joined: 9/13/2008
Status: offline 		That's what was such a big part of both information and macabre entertainment in the Alan Simpson interview video.  Simpson was so arrogant and belligerent in the tape, saying his(he co-chairs) deficit commission(aka The Cat Food Commission) was going to have to cut soc sec "entitlements" - that the " lesser people" were going to have to make sacrifices etc.  The interviewer got him to admit the gov't had ravaged the soc sec trust fund for the last decade & left i.o.u.s -  that, Simpson jubilated, "will never be paid back, we spent the money!"  The interviewer was calm & persistent, getting Simpson to admit this theft(since they have no intention of paying these i.o.u.s back) of taxpayer money and also the hairbrained idea that, having stolen this money that taxpayers contributed for decades from their paychecks, the government now should cut soc security rather than replace this money...no sense of theft, shame or restitution.  Apparently just the interest alone on that money would go a long way to keeping soc sec solvent.

Simpson also spews of a lot of archaic mythology about soc sec including  the old saws about the baby boomers retiring and people are living longer so raise the age it starts. Adjustments were already made in the 80's & 90's to fund the future boomers'.
And there have already been age increases in eligibility reflective of the few years longer people are living.  No one mentions the truth within the living longer stats either. The  rise in mortality ages is mainly  due to the fact that the well insured and affluent are living longer.  Since they will actuarily benefit from the longest pay outs, the only adjustment that should be made is to raise the soc sec annual income cap. 

This Cat Food Commission is pretty scary.  The fact that the treasury has  drained the taxpayers' soc security savings account  and refuses to pay us back I think takes it from secret " borrowing" to now " theft."





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RE: Was the Social Security Money Borrowed or Stolen? - 7/13/2010 6:43:50 PM   
Hippiekinkster


Posts: 5512
Joined: 11/20/2007
From: Liechtenstein
Status: offline 		Alwayssummer: "Since they will actuarily benefit from the longest pay outs, the only adjustment that should be made is to raise the soc sec annual income cap. "

Eliminate the cap. The wealthy need to start pulling their weight. They already get the majority of welfare.

P.S. Dig your nic.

< Message edited by Hippiekinkster -- 7/13/2010 6:44:36 PM >

_____________________________

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RE: Was the Social Security Money Borrowed or Stolen? - 7/13/2010 8:57:46 PM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		If it was there before but it's not there now then it was stolen.

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RE: Was the Social Security Money Borrowed or Stolen? - 7/15/2010 2:59:47 AM   
alwayssummer


Posts: 89
Joined: 9/13/2008
Status: offline 		Yes,to eliminate the taxable income cap would be devine.  Just thought the "raise" notion was more, um, palatable.
I just wish that all the misinformation, unfounded hysteria about this fund would stop.   Same "it's bankrupt" bullshit.  No it's stolen!
They shouldn't cut benefits by raising the age - it's already been stretched to an impossible age for someone who really works hard for a living. i.e. tell waitresses they need to work to seventy or a roofer for example. They've already pushed it to 67+, which is old for many an hard working body. 
It's the "subsidized" hedgefund gazillionaires like Peterson(most powerful, richest, lifelongest enemy of soc sec,  Catfood Commission Pariah )  and these old fart, obscenely rich Senators & Reps,  who won't give up their gravy train jobs and retire, who think everybody should just work longer.   Term limits please. 
The Congress does not even pay into social security - they have their own system.  And,absolutely,  allowed ours to be stolen.  And now refuse to make a move to collect our money.  Because the majority of them do not give a shit.  They've got theirs.  Why didn't we borrow from their fund instead? They voted for the wars, let them pay us back from their fund too.  I'm sure it's deep pockets.
Sure eliminate the cap alltogether on soc sec taxable annual income..  That'd be swell.  I agree.
They should also eliminate the cap on supplemental earned income people can make  while receiving soc security.  Right now it's a pathetic $14,000/year normal taxable income...wow, another lap of luxury for the elderly. Yet  capital gains have no earnings  cap/year for getting a full social security check. 
So how about take the cap off of annual income to be taxed and put it on cap gains income to get benefits?  

It's too bad that the under 50s, who this most effects, have so little say  in their old age security net.  The Cat Food Commission
and all these rich and virulent old Legislators remind me of the "town elders", willfully ignorant, callous  Draft Boards of the 60's.No skin in the game or desire to really represent the truth.  But happy to drop the ax on the younger and less powerful.    It gives me non drug induced flashbacks, truly

Thanks about the "nic" remark. Not sure what that is, but I'll take it as a compliment.

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RE: Was the Social Security Money Borrowed or Stolen? - 7/15/2010 8:41:29 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: popeye1250

If it was there before but it's not there now then it was stolen.



Hey Popeye=-

Spread the wealth around.

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RE: Was the Social Security Money Borrowed or Stolen? - 7/15/2010 10:26:42 AM   
willbeurdaddy


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Joined: 4/8/2006
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quote:

ORIGINAL: alwayssummer

The  rise in mortality ages is mainly  due to the fact that the well insured and affluent are living longer. 






ROFL. Totally wrong.

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RE: Was the Social Security Money Borrowed or Stolen? - 7/15/2010 11:54:15 AM   
Hippiekinkster


Posts: 5512
Joined: 11/20/2007
From: Liechtenstein
Status: offline
quote:

ORIGINAL: willbeurdaddy


quote:

ORIGINAL: alwayssummer

The  rise in mortality ages is mainly  due to the fact that the well insured and affluent are living longer. 






ROFL. Totally wrong.

SO prove her wrong.

@alwayssummer: "nic" is your nickname/screenname.

_____________________________

"We are convinced that freedom w/o Socialism is privilege and injustice, and that Socialism w/o freedom is slavery and brutality." Bakunin

“Nothing we do, however virtuous, can be accomplished alone; therefore we are saved by love.” Reinhold Ne

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RE: Was the Social Security Money Borrowed or Stolen? - 7/15/2010 12:04:28 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
Status: offline
quote:

ORIGINAL: Hippiekinkster


quote:

ORIGINAL: willbeurdaddy


quote:

ORIGINAL: alwayssummer

The  rise in mortality ages is mainly  due to the fact that the well insured and affluent are living longer. 






ROFL. Totally wrong.

SO prove her wrong.

@alwayssummer: "nic" is your nickname/screenname.


Easily...let her define affluent first.

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RE: Was the Social Security Money Borrowed or Stolen? - 7/15/2010 12:07:46 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		I absolutely LOVE the block feature.

Is CM great or what?

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RE: Was the Social Security Money Borrowed or Stolen? - 7/15/2010 12:11:13 PM   
slvemike4u


Posts: 17896
Joined: 1/15/2008
From: United States
Status: offline 		Shit willbur...if you need help with definitions just google "Webter's"...but seriously dude how could you not know the definition of a word as simple as "affluent"?

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RE: Was the Social Security Money Borrowed or Stolen? - 7/15/2010 8:42:31 PM   
Marini


Posts: 3629
Joined: 2/14/2010
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If the money isn't THERE, than the money has been stolen.

Did anyone ask us if they could "borrow" the money they have been taking out of our paychecks?

_____________________________

As always, To EACH their Own.
"And as we let our own light shine, we unconsciously give other people permission to do the same. "
Nelson Mandela
Life-long Democrat, not happy at all with Democratic Party.
NOT a Republican/Moderate and free agent

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RE: Was the Social Security Money Borrowed or Stolen? - 7/15/2010 8:49:06 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
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quote:

ORIGINAL: Marini


If the money isn't THERE, than the money has been stolen.

Did anyone ask us if they could "borrow" the money they have been taking out of our paychecks?


I think you mean "did anyone ask us if they could LEND the money.....". And the answer is yes, in the same way "we" are asked about anything the government does...through the election of representatives that pass laws, in this case the Social Securiy Act, which authorizes investment in special issue Treasuries.

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