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Politics : Actual left/right wing discussion
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To: Gersh Avery who wrote (3419)10/23/2006 12:15:39 PM
From: TimF  Read Replies (2) of 10087
 
"Once social security starts to spend more money than it takes in than social security will have to be paid for in part from regular non-social security taxes."

So then, since there isn't enough in the trust fund, the federal government might as well take it all.

I can't find any logical connection whatsoever between your comment and mine.


The trust fund is not the property of the federal government.

As I've stated the "trust fund" is an accounting fiction. But even if its treated as if it was real, paying it back means paying social security obligations with general tax money.

It one sense it doesn't belong to anyone, because it doesn't represent a real stored value. Its a fairly meaningless figure. But to the extent it is real and is owned by anyone it is indeed owned by the federal government. The Social Security program "owns" the bonds, and is part of the federal government. Anything it owns, the government owns. Of course the government also "owns" the debt to pay back these bonds.

So the government owns a debt of X, and assets of X, connected to social security. Net value = $0.

The way to "fix" social security is NOT to confiscate all of it's assets.

That seems to be a fairly meaningless statement. Going back to shifting money from one pocket to the other, if I take the $10 from my right and give it to my left, and give the right an IOU, and then spend the money from my left pocket, does the fact that I have "I owe you $10" in my right pocket mean that I have an asset?
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