Reply #77: So all that money that we sent in... [View All]

[ljm2002]

...on our FICA taxes, is just no different from the rest of our income taxes? Is that what you are saying?

Or are you saying, hey, the US Congress is a bunch of crooks who stole your retirement funds and there's not a whole lot you can do about it?

"The true nature of things" is that money was borrowed from one account (the Social Security trust) to cover debts that were accrued in the other account (the general funds). These have different sources of revenue. One is funded strictly by a payroll tax, intended for people's retirement. The other is funded from all tax sources -- income, capital gains, inheritance, etc. They are not the same. In the big picture, if it is not paid back for the purpose intended, then we have been defrauded.