Another Republican that doesn't get it

[sirs]

Social Security will never be repealed.......

And who the hell is pushing that?

Those who use the scare tactics, that SS is going broke and want to take a portion of SS and invest it in the Stock Market. ...

It IS going broke.  That's why the folks you're trying to paint as "repealing it", are actually advocating REFORMING it, you know SAVING IT.  Grand canyon of a difference there, Larry

[Amianthus]

No its not.

Yes, it is.

[Xavier_Onassis]

The Social Security taxes are more than sufficient to cover expenditures for many a year into the future. More is paid into the fund than is paid out. The excess is pissed away on dumbassed wars, and pieces of paper are left in their place.

Social Security is going broke in the same way that a 60 year old worker who makes more than he spends is going broke. Eventually he won't make enough, or possibly anything, and his savings will not be enough to allow him to live as he now lives. For now, of course, he's okay.

The GOP has wanted to abolish SS since it was founded. This is STILL their desire. Observe how savagely they have treated workers' pension funds lately. Workers used to have a guaranteed pension. Now  it is either pered down or the debt pushed off on the government. The guys savaging the pension funds are the same assholes who run the GOP.

Allowing Republicans to 'reform' Social Security is like allowing a flock of buzzards to 'reform' the meat locker.

[Amianthus]

The excess is pissed away on dumbassed wars, and pieces of paper are left in their place.

SS funds are added to the general fund (leaving "pieces of paper") and spent on anything Congress wants to spend it on. The major portion of the budget continues to be social spending, not military.

[_JS]

SS funds are added to the general fund (leaving "pieces of paper") and spent on anything Congress wants to spend it on. The major portion of the budget continues to be social spending, not military.

Where did you get that?

Payroll taxes are earmarked to the Social Security Trust Fund and excess is invested in Government Bonds which indirectly is used to finance the deficit spending of the Federal Government. It is not part of the general fund to my knowledge.

2006 Trust Fund Annual Report

[Amianthus]

Payroll taxes are earmarked to the Social Security Trust Fund and excess is invested in Government Bonds which indirectly is used to finance the deficit spending of the Federal Government. It is not part of the general fund to my knowledge.

The "Trust Fund" is invested in special Treasury notes. Completely.

Congress is free to spend the money that SS uses to buy these Treasury notes. Congress is obligated to pay these notes back at some time in the future. In other words, they are IOUs.

Basically, the way it works is this. Your right pocket is the SS Trust Fund. Your left pocket is the general fund.

Money from SS comes in, it's put in your right pocket. When a certain level gets built up, SS takes the money out and "invests" it in a bond held by the left pocket. So the money goes to the left pocket, and a bond note replaces it in the right pocket. Congress then spends what's in the left pocket freely.

It's a shell game.

[Xavier_Onassis]

Money from SS comes in, it's put in your right pocket. When a certain level gets built up, SS takes the money out and "invests" it in a bond held by the left pocket. So the money goes to the left pocket, and a bond note replaces it in the right pocket. Congress then spends what's in the left pocket freely.

It's a shell game.
===================================
It's a shell game that is being played at the moment by the Republicans. The war is being financed by that deficit spending.
Any group, Republican, Democrat or both, that is capable of this sh*t will also be incapable of managing any stock market based fund that would replace it.

[Plane]

SS funds are added to the general fund (leaving "pieces of paper") and spent on anything Congress wants to spend it on. The major portion of the budget continues to be social spending, not military.

Where did you get that?

Payroll taxes are earmarked to the Social Security Trust Fund and excess is invested in Government Bonds which indirectly is used to finance the deficit spending of the Federal Government. It is not part of the general fund to my knowledge.

2006 Trust Fund Annual Report

If you were to give me some cash , I would gladly give you an equal IOU to be cashed in the future.

Would you be just as happy to hold my IOU as I am to hold your cash?

If my method of paying this IOU was to force you and your child to pay me first ,I think I would be getting the better part of the deal.