puma guy wrote:Social Security was changed from an idependent fund and allowed to be put in general funds by LBJ and a Democrat controlled congress. The "lockbox" for lack of a better term went away. Democrats also voted in taxing the benefit and Al Gore cast the decciding vote to increase that tax. Both parties have continued to raid the fund with outrageous spending. Hey, they're all politicians. The ultimate oxymoron is "Political Ethics".
OldCurlyWolf wrote:Rex B wrote:By definition, it's an entitlement.
The FICA that comes out of your paycheck all those years is just a tax, just like the other federal withholding. The money goes into the general fund, not some "trust fund". And the government gives you a stipend that has no real correlation with what you have paid in.
And yes, I'm counting on it to be there as an important secondary income source in about 8 years.
Sure hope it's there, but I don't have all my eggs in that basket. I sure feel for those that do.
No, it is NOT an entitlement.
There was a trust fund, it is full of IOU's from the Feds. In the Sixties, the feds STOLE the trust fund and replaced it with IOU's. Originally SS was set up that it was not supposed to be touched, then Congress(Large Democrat Majorities in both houses and Johnson as President) decided that they just couldn't stand to see all that money drawing interest for the future of people who put it there. So they "changed the law" and STOLE it just like the thieves Democrat politicians have always been. Every congressman, senator and any other federal employee who is still alive and who had anything to do with that enormous theft should be put in the pen and left to rot.
As I stated in my earlier post the politicians have raided the trust fund under a Democrat controlled Congress and Democrat President, also taxed the benefit. The funds from gasoline excise taxes that are supposed to be for highways have also been robbed and Bill Clinton tried to raid the funds under Pittman-Roberston even though the authors of that bill stipulated they can never be used for anything other than the original intent. Fortunantely Clinton failed. Both parties are happy to spend the money but the Dems have a proclivity for robbing Peter to pay Paul and then create new taxes. We should have voted them all out (both parties) for new players, but failed to do so.