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URL:  http://boards.fool.com/rayvt-quotwere-you-around-in-1987-when-congress-31045453.aspx

Subject:  Re: Soc Sec "file & suspend"? Date:  1/1/2014  12:04 PM
Author:  JAFO31 Number:  74044 of 75777

Rayvt: "Were you around in 1987 when Congress decided to impose income tax on SS benefits? Your money is taxed when you pay into SS, and again when it is paid out to you. Same money, taxed twice."

It is generally s not the same money.

The money taxes going in is geenrally paid out long before the taxpayer reaches retirement age.

Your statement makes it sound like my SS tax dollars are sitting in an account somewhere waiting for me to collect them. It was never true at all until 1983, because SS was pay as you go from inception until then.

Since 1983 excess SS taxes buy special treasury bonds (and was used by Saint Ronald to hide the real size of his deficit spending and to dampen the risk of inflation).

Regards, JAFO
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