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Originally posted by Starwise
I sure wish I could march into the HR at my work and tell them to STOP TAKING OUT SOCIAL SECURITY FEES FROM MY CHECK!!!!
Because obviously I wont be receiving any of it!
Originally posted by morder1
I was talking with my dad about this issue earlier, and he also thought it was a separate account... but nope its all just a lie(SURPRISE)
Originally posted by camaro68ss
Im am just so sick and tired of being lied too. you cant trust anything the goverment says anymore. the only thing you can trust is yourself and your own research.
There is no link for this since it was in my personal mailbox. I emailed him about this issue a few days a go and essentially he appears to confess there is no lock box at this point. Read this and tell me what you think.
Thank you for contacting me about the preservation of the Social Security system. I appreciate hearing from you on this important issue.
Social Security is a statutory entitlement program. Beneficiaries have a legal entitlement to receive Social Security benefits as set forth under the Social Security Act. Since its inception, Social Security has provided a vital safety net for our elderly and disabled by lifting millions out of poverty and ensuring they maintain a respectable quality of life.
Social Security is what is referred to as a pay-as-you-go (PAYGO) program. The vast majority of the taxes the government collects from workers and employers are used to pay the benefits of current retirees. What is leftover after paying retirees is the surplus. By law, the federal government is required to securitize these surplus funds into special, non-traded bonds that pay interest. The funds themselves are then lent to the federal treasury to help meet other government obligations.
This fact has lead many of my constituents to ask me whether this money is paid back. The answer is yes. Social Security bonds are obligations that must be repaid when they are due, with interest.
Many have advocated that all Social Security revenues be deposited in special accounts and not made available to meet other obligations. This is why I supported the Social Security and Medicare Off-Budget Lockbox Act, which would accomplish just that.
It is important, however, to remember that a "lock box" approach alone would not come close to solving the long-term finances of the Social Security system. Social Security's problems are demographic. Over time, there will be fewer and fewer workers paying into the system for the number of retirees receiving benefits. In 1950, there were 16 workers paying into Social Security for every retiree receiving benefits. Today, there are approximately 3.3 workers per retiree, and by the year 2031 that number will decline to only 2 workers for every retiree. In addition, individuals are living longer lives which places still more stress on the system's finances.
Like you, I believe the longer we delay the important debate of our Social Security system, the more difficult the choices become. Addressing this issue will require bipartisan cooperation and the involvement of all stakeholders, including you the taxpayer. In 1983, a bipartisan commission was established to rescue Social Security when it was in immediate danger of crisis. As a result of this commission's work, the Social Security program has been saved for many decades. I believe a similar commission should be established to look at government entitlement programs. The Commission would make recommendations to Congress which would then debate and vote on them.
Fiscal discipline also plays a very important part in preserving the integrity of Social Security. Irresponsible Washington spending is the biggest threat to Social Security, as well as long term economic growth and our efforts to pay down the national debt. I will continue to look to support policies to ensure transparency, soundness and sustainability in programs so important to seniors and the disabled.
Lastly, please know I remain committed to strengthening Social Security. As proposals are submitted to reform this system, it is imperative we keep focused on keeping our seniors' retirement secure and ensuring the long-term stability of this program. I will not support reforms that raise payroll taxes, reduce benefits or raise the retirement age.
Again, thank you for sharing with me your concerns about the preservation of Social Security. Please feel free to contact me at (202) 225-7041 should you have further questions or concerns or visit my website at www.house.gov/graves.
Member of Congress
Originally posted by sticky
Originally posted by camaro68ss
The USA was not created to be a free country. It was created to be a finincial haven for the people already controlling the world. The realization of the plan didn't occur until technology allowed it to.
500th postedit on 14-7-2011 by sticky because: to add 500th post to the end...
I would have to say the USA was created to be a free country and that was our fight for independence back in 1776. But something went wrong after the Civil War and we lost that independence.
Social Security is lumped into the whole US Treasury General Fund! Shocking! We been lied to by our Government! who would have thought!
The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.