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Message
re: 'You earned it, you keep it act' bill would eliminate taxes on Social Security
Posted on 2/9/24 at 12:35 pm to jclem11
Posted on 2/9/24 at 12:35 pm to jclem11
quote:
2. Mismanagement of Funds -- Congress has raided these "trust fund" for decades to pay for other stupid shite and close shortfalls.
3. Fraudulent "Disability" Claims -- I have no data but I'd imagine you have tons of people on Social Security "disability" with some bullshite condition that are draining funds that they never contributed to.
#2. I haven’t done a slew of research but I believe this isn’t true. SS must purchase treasuries with excess funds. Of course government is issuing treasuries because it’s borrowing money for… whatever. However, the SS trust fund isn’t “out” that money, in the same way that your bank deposits are issued as loans to other Borrowers but your deposits are not gone.
#3. I definitely agree with the abuse of SSDI. I have distant family members that have taken advantage of it and now dick around all day rather than working. I left it out because I thought it was funded separately.
1
Posted on 2/9/24 at 12:39 pm to bigblake
quote:
#2. I haven’t done a slew of research but I believe this isn’t true. SS must purchase treasuries with excess funds.
You are absolutely right. Excess funds in the trust are invested in Treasuries. So the money is "loaned" not "raided".
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