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|Subject: Re: Harry Reid is dangerously stupid.||Date: 10/4/2012 3:40 AM|
|Author: AdvocatusDiaboli||Number: 646879 of 778550|
This is hilarious. You have it exactly backwards. It *should* have been included in the budget. It *should* have been consolidated. It's just like when a parent company owns a subsidiary. You consolidate the results. You don't carve out the subsidiary's results.
By the way, those "investments" in bonds are bogus assets that are *exactly* offset by government liabilities, so it provides no economic benefit whatsoever.
What *should* have been done is separate out Social Security and the trust fund as a separate legal entity - an insurance scheme.
Increasing payroll taxes with the express aim of creating a trust fund to finance the eventual deficit of the scheme then treating the additional revenue as general tax revenue completely defeats the purpose of the tax hike.
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