In response to:

The Safety Net That Isn't

Bobgood1 Wrote: Jan 06, 2013 7:50 PM
The SS system if run as originally set up would be solvent. So many changes of people who can benefit from the fund has been a big part of the solvency. Somehow in the last 3 or 4 years, illegal or New immigrants, Who haven't paid into it are drawing from it. I know of families with children who fake some kind of mental illness, to draw from it, who never had a job. They draw it, And are out playing around. Lyndon Johnson, Was the first to draw from it for his " Great Society." IOU's were given. Never paid back. If the SS Funds had been invested, even in interest bearing Savings accounts or Gov. Bonds, It wouldn't be in trouble.Politicians ( Both Parties ) can't keep their hands off of it.
latebloomer Wrote: Jan 06, 2013 8:25 PM
The SS system as originally set up would be a HUGE cash cow for the Federal Governmwnt, in point of fact. The retirement age when it started out was some 15-20 years past the average life expectancy.

January 6, 2013

Congress has just raised payroll taxes. It has done it before, and will do it again.

Our august solons excuse themselves, however, by pleading that the 2 percentage point hike is merely the sunset of a tax holiday. And necessary to shore up a faltering system.

It’s not a triumph of responsibility, though.

What is responsibility? Every year the Social Security Administration sends out a helpful note to its “clients” about how much we’ve contributed in payroll taxes. The kindly bureaucrats also warn us not to...