Reply #22: It's trur all monies go into one pot- with the National Debt the balancing [View All]

[papau]

item between income and outgo.

When the FIT was reduced for the rich via the Bush Tax cuts for the rich we had to borrow money and we borrow first from the Soc Sec System.

However the "to be treated just like the revenue raised by the federal income tax" is not quite true. Soc Sec owns that money and did not just give it to the rich so their FIT could be reduced. The bonds sold to Soc Sec are real assets of Soc Sec as long as "full faith and credit" have any meaning.

And the payoff of the bonds sold to finance the National Debt is the same process for Bonds owned by Japan and for Bonds owed by the Soc Sec Trust. It is just that the rich do not want their FIT raised to pay off the bonds redeemed by the Soc Sec Trust - but they do not mind raising their taxes to pay off the bonds owned by Japan.

Guess the rich fear Japan MORE THAN THEY FEAR OLD FOLKS.