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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (75462)	6/4/2018 8:25:37 PM
From: i-node	Read Replies (1) \| Respond to of 363700

>> They have saved millions and millions for almost a 100 years. Millions and millions? Do you think "Millions and Millions" makes a dent in the problem? Look, it is apparent you can't do arithmetic, let alone comprehend time value. So, let it go. >> And social security has a 2.7 trillion credit that the US borrowed. Which, when combined with ALL THE MONEY COLLECTED from the people working today, will be gone in about 12 years. Has nothing to do with with US borrowing. >> And there is nothing wrong with the kids paying for the elders. Idiot. That isn't your decision to make. That is THEIR decision to make. What makes you think it is YOUR decision?

To: koan who wrote (75462)	6/4/2018 8:32:59 PM
From: Wharf Rat	Read Replies (2) \| Respond to of 363700

"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." FDR was the first to borrow from the SSTF, from SS, and Ronald Reagan on Social Security - OnTheIssues.org On April 20, 1983, Reagan signed a bill to preserve Social Security. At that bill signing, the president said words every Republican should heed: "This bil == What Are the Trust Funds? Congress established trust funds managed by the Secretary of the Treasury to account for Social Security and Medicare income and disbursements. The Treasury credits Social Security and Medicare taxes, premiums, and other income to the funds. There are four separate trust funds. For Social Security, the OASI Trust Fund pays retirement and survivors benefits and the DI Trust Fund pays disability benefits. For Medicare, the HI Trust Fund pays for inpatient hospital and related care. The Supplementary Medical Insurance (SMI) Trust Fund comprises two separate accounts: Part B, which pays for physician and outpatient services, and Part D, which covers prescription drug benefits. The only disbursements permitted from the funds are benefit payments and administrative costs. Federal law requires that all excess funds be invested in interest-bearing securities backed by the full faith and credit of the United States. The Department of the Treasury currently invests all program revenues in special non-marketable securities of the U.S. Government which earn interest equal to rates on marketable securities with durations defined in law. The balances in the trust funds, which represent the accumulated value, including interest, of all prior program annual surpluses and deficits, provide automatic authority to pay benefits. ssa.gov

To: koan who wrote (75462)	10/20/2018 2:32:01 PM
From: i-node	1 Recommendation Recommended By Joe Btfsplk Respond to of 363700

>> 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.