Completing the Theft from the Social Security Trust Fund - FDL

[WillyT]

Completing the Theft from the Social Security Trust Fund
By: masaccio - FDL
Thursday August 11, 2011 2:30 pm



<snip>

The Catfood Commission rump report http://firedoglake.com/2010/06/22/don%E2%80%99t-get-fooled-again-cat-food-comm-tries-greenspan%E2%80%99s-old-tricks-to-cut-social-security/ made it crystal clear that the political and financial elites have no intention of ever paying off the bonds held by the Social Security Trust Fund. You thought you were paying excess FICA taxes so that there would be enough money to pay your Social Security in your retirement, but that was never the intention. The intention was to raise your taxes and cut taxes on the rich.

They try to hide this fact behind a barrage of numbers, and shouting flacks, but occasionally, the truth unintentionally leaks out, as here:

Unless the program can be made to pay for itself, Congress would have to appropriate more than $13 trillion over the next 75 years to make up the shortfall, according to the Brookings Institution.

Of course the program can be made to pay for itself, out of those bonds in the Social Security Trust fund, and with taxes if that becomes necessary in 2037. What kind of idiot is making financial plans for 2037? Our political and financial elites, that’s who, if you can call stealing a plan. They don’t want to pay off those bonds. They want to raise taxes on working people so they will never have to pay off those bonds.

The whole point of every charade version of “strengthening Social Security” is to insure that the income of the system is enough to pay the benefits that are due that year, hopefully with an overage that can be swallowed up in the General Fund and used keep the taxes on the rich at the lowest level since the time whereof the memory of man runneth not to the contrary. The Catfood Commission, the Great Compromise, the Gang of Six, the Chained CPI, and all other plans make it clear that the elites of both parties intend to complete the theft from the Social Security Trust Fund by raising your taxes and/or cutting your benefits.

<snip>

More: http://firedoglake.com/2011/08/11/completing-the-theft-from-the-social-security-trust-fund/

:mad:

:kick:

[rurallib]

1. recced to 0

[Oceansaway]

2. k & r..nt

[AzDar]

3. K & R

:kick:

[nc4bo]

4. Mmmmmm catfood for breakfast, lunch and dinner....

Seems it''ll be all out of our hands and what the majority of the people matters not to any of these elites.

:mad:

I wonder if the canned stuff has gone from a whopping 8oz to measly 5oz a can like canned tuna has?

[Starry Messenger]

5. k&r

[Faryn Balyncd]

6. The committee should be renamed "The Bipartisan Destroy-the-Middle-Class Super Committee"

[indurancevile]

7. knr