In response to:

The Safety Net That Isn't

Irresponsible47Percenter Wrote: Jan 06, 2013 1:46 PM
For six-seven decades excess SS funds were invested in U.S. treasury debt. The SS fund holds almost $2T of such debt. If that $2 trillion was not there, THEN your quote from Jacob would be true. Now it is not, it is a distortion of reality motivated by extreme RightWing ideology that loathes the SS system regardless of it's success.
jmonaco Wrote: Jan 06, 2013 8:01 PM
Yor -- That is correct. I wish people (on their own) would take the effort to learn what parties hold the other $14T.

I am sure they would be surprised to find the Federal Reserve Bank ("the Fed") holds a significant chunk. The OUTRAGE IS that MOST PEOPLE think the Fed is a government agency - part of the Treasury Department. They could not be more MISTAKEN.

Thank you government school system - great job! (sarcasm).
Don't Tread On Me3 Wrote: Jan 06, 2013 7:46 PM
"If that $2 trillion was not there, THEN your quote from Jacob would be true. "
It's not there. Point to it.
That money taken from workers as payroll taxes over & above SS payouts was SPENT, thrown down the same ratholes as all the rest It's GONE. The so-called "trust fund" is just a stack of IOU's that can only be redeemed by taxing someone else AGAIN.
The only thing SS has been "successful" at is making retirees dependent on the government, confiscating even more $$$ for the elite to blow, & running up a hopeless liability.
The left-wing statist kleptocratic ideology boils down to the ruling class confiscating everything produced, then deciding who gets what.
Yor12 Wrote: Jan 06, 2013 4:17 PM
Your note that there is two trillion in the Social Security fund is an illusion. There is no money in the fund. All there is is promisary bonds that they cannot pay without raising taxes, or, selling other bonds to raise the money. Each year they try to collect more money from Soocial Security taxes to pay current demands. Anything over that is dumped into the Treasury to help pay other expendatures and add another IOU bond to the IOU pile and fool the people into thinking thaat "all is well."

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...