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re: If social security is doing so great why do we now need myRA?
Posted on 12/28/14 at 3:25 pm to BBONDS25
Posted on 12/28/14 at 3:25 pm to BBONDS25
quote:
What happened to all the money recipients paid in?
It is used to pay the beneficiaries at the time it is paid in. When there is excess, it is placed in the trust fund, when there is shortfall it comes out of the fund, but for the most part Social Security is a pay as you go system and has always been. Even the trust fund equates to pay as you go since it is just government debt, the only difference the shortfall or excess goes to the income taxpayer rather than the FICA taxpayer.
Duh. Seriously come on you had to have know this I don't believe you are that ignorant.
This post was edited on 12/28/14 at 3:26 pm
3
Posted on 12/28/14 at 3:29 pm to SpidermanTUba
quote:
When there is excess, it is placed in the trust fund, when there is shortfall it comes out of the fund,
There is no trust fund. SS has been in the general budget for a long time. There is no 'lock box'. That was a lie. The money has been spent. It's a Ponzi Scheme.
Posted on 12/28/14 at 3:31 pm to SpidermanTUba
Where can I find the balance of this trust fund?
Posted on 12/28/14 at 3:32 pm to SpidermanTUba
quote:You should have read the link I provided.
When there is excess, it is placed in the trust fund, when there is shortfall it comes out of the fund, but for the most part Social Security is a pay as you go system and has always been.
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