Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: ColtonGang who wrote (174137)	8/24/2001 2:26:09 PM
From: DMaA	Respond to of 769670

I don’t know why this is so hard for people to understand. I guess a lie told 1,000 times can only be countered by telling the truth 10,000 times. Here’s the truth one more time: Krauthammer - Here is what really happens to your Social Security tax dollars. They are sent to the "Social Security trust fund" -- and then are, by law, immediately withdrawn and given to the Treasury to spend as it sees fit. The Treasury completes the transaction by depositing IOUs in the trust fund. The IOUs basically say: "The government (in the guise of the Treasury) promises to pay itself (in the guise of the Social Security Administration) enough money when needed to pay its costs in the future. Cross my heart." What you and I pay in Social Security taxes this year is irrelevant to the money you and I will draw out when we retire. That money will come from the taxes paid by the workers of that year in that year. And whether that will be enough to cover your Social Security and mine will depend entirely on the size and health of the economy in that year -- and not at all on the number, size, volume and color of the meaningless pieces of paper that constitute the "Social Security trust fund." washingtonpost.com