The letter from Nineva and Jack Salley (Aug. 26) was right on. The Social Security trust fund has been raided for years to balance the out-of-control budget our elected reps have wildly spent. I just wrote a letter to President Obama asking if he had the guts to demand paying back the trillions stolen from Social Security. I received a reply not addressing this issue. The only solution is cutting our benefits even more. Whoa!
Marilyn O'Connell, Phoenix
Rich posted at 3:30 pm on Thu, Sep 8, 2011.
"Social Security must be repaid"
Don't hold you breath Marilyn. OBoya just got a credit line increase on his credit card and it's burning a hole in his pocket. Give a listen as he tells us we HAVE to spend it.
Accuracy posted at 4:09 pm on Thu, Sep 8, 2011.
Marilyn O'Connell,
You’ve got that right! The government taking most of the $2.6 trillion dollar Social Security surplus is all-out “stealing”.
According to the Social Security Administration (SSA), the Social Security (FICA) contribution is a payroll tax. In 2005 participants started paying 6.2% of the first $90,000 of their income and employers paid 6.2% in OASDI.
Social Security tax payment (payroll contributions to increase the Trust Fund) is the people's savings account for retirement, not monopoly money to solve other national problems or money to pay for raises in Congress and government. We have a chance to “Cut Out Congressional Social Security Spending” all together.
Slabside posted at 4:12 pm on Thu, Sep 8, 2011.
Well said Rich.
sockratties posted at 5:37 am on Fri, Sep 9, 2011.
The popular spin for people who want to end or privatize social security is that it has raised the national debt $2.6 Trillion and that SS is broke! Now candidates (Rick Perry) are calling SS a Ponzi scheme. It's only a Ponzi scheme because congress is spending the money as fast a possible and giving the trust fund IOU’s in return. When Bernie Maddoff did the same thing, he went to jail. If the Fed would repay the fund SS would actually have the $2.6T and the national debt would be $2.6 less.
Cerulean posted at 5:31 pm on Fri, Sep 9, 2011.
Marilyn, I agree.
sockratties, good comment.
NothingButTheTruth posted at 11:16 am on Sat, Sep 10, 2011.
Most people, Sick Rick Perry excluded, think SS should be repaid, but the differ on how to do it. Liberals want more taxes on the rich, and conservatives want less government spending. The point is that we have been robbed by our own government and no one seems to mind. This boggles this patriot's mind. It's an election year so Obozo will spend like there's no tomorrow. Maybe he can buy the election. Give me ten grand and I'll vote for you Obozo. I'm quite sure Romney and Perry will be just as bad for this country as any of their predecessors were if they win election. Same sheet different day.