I am reading how social Security will be in the red and that it cant last more than the next 20 years without becoming a problem. This is such a distortion of the facts. The government over time has borrowed over 2 trillion from this rich and productive fund
It its place are IOU's from Uncle Sam....Eventually, those promise to pay you back notes will have to perform and Congress knows this. Now, where will the money come from to pay this back?
Higher taxes can only go so high especially on the lower and middle class. However, if you tax the rich who do not suffer when you do, then we now have money coming in to make good.
Where did the 2 trillion that was borrowed go? Also, I never read or heard about it when it was loaned out. I am an avid reader and have been following meaningful news items for a good 35 years. I don't remember reading about the loan being made.
There is manipulation afoot. The systems work just fine until you mess with them. The housing market was just fine until we messed with it. Wall Street couldn't go with the normal up and down flows and they messed with that too.
I remember people swearing that investing in General Motors which is a blue chip company is like owning gold. They said it could never fail. That was the pitch and people followed that advice. Well, they had to be bailed out.
Just where all this wealth goes remains a mystery to me. How much money does anyone really need also remains a question that no one wants to answer especially billionaires....
Quite a few of the American people use the Social Security System and need to do so....Do we really want to rock that boat?
I remain ignorant