| | | >> And social security has a 2.7 trillion credit that the US borrowed. Reagan is the one who started borrowing from it to give tax cuts to rich.
You stupid, fucking idiot.
"The investment rules governing payroll tax income were also established in the 1935, and are essentially the same ones in use today. Specifically, the 1935 Act stated: "It shall be the duty of the Secretary of the Treasury to invest such portion of the amounts credited to the Account as is not, in his judgment, required to meet current withdrawals. Such investment may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States." ( See Title II, Section 201of the 1935 law)"
https://www.ssa.gov/history/BudgetTreatment.html
If this is too complicated for you, the original 1935 law provided that ALL SS funds are to be lent TO THE FEDERAL GOVERNMENT. Period. End of story. So Congress can spend it if it wishes. Reagan had nothing, whatsoever, to do with it.
AT NO TIME HAS THE FEDERAL GOVERNMENT EVER REFUSED TO REPAY SS DEBT WHEN NEEDED, WITH INTEREST, AND THERE IS NO PROJECTION OF SUCH A THING EVER OCCURRING.
That 2.7 Trillion credit will be gone in a few years. It has not been that long ago that "credit" was 14 trillion.
>> And there is nothing wrong with the kids paying for the elders.
Yeah, there really is. The program was intended to have a trust which held MY money for ME. It has now transitioned into a trust holding YOUR KIDS' MONEY FOR ME. |
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