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: goldworldnet who wrote (672137)	2/13/2005 5:36:31 PM
From: Peter Dierks	Read Replies (1) \| Respond to of 769670

Posted by Kerry Kerstetter at 11:08 PM, February 07, 2005 \| TrackBack (0) The Trust Fund Hoax Herman Cain Tom Nugent and David Frum clearly explain the accounting gambit known as the “Social Security Trust Fund.” Congressional Democrats have long advocated placing Social Security payroll tax receipts in a “lock box” (remember the Gore campaign?) and accused Republicans of wanting to “raid the Trust Fund” to “pay for” tax cuts to the so-called rich. The truth is, the trust fund does not exist, and the Social Security system is not designed to keep your contribution to the system in a special account with your name on it. As Mr. Nugent notes, In other words, the Social Security system is a “payout” system — you pay in and the politicians pay out. Talk of trust funds and lock boxes is nothing more than the Left’s usual deceptive and distorted rhetoric. What is ironic is that placing your payroll taxes in a “lock box” with your name on it – that members of Congress could not raid for pork barrel spending – is in effect the backbone of President’ Bush’s plan. You get to keep and grow your money, and it will be there when you retire.