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Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 62067  
Subject: Re: Early retirements strain Social Security sys Date: 9/30/2009 12:03 PM
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<<No one was "promised" a dime.

Of course they were. The enabling legislation set aside this program separate and distinct from the rest of the budget - and government - with the sole purpose of taxing current workers and to pay a stipend to retired workers. No other use was to be permitted for these monies.
>>


A lot of smoke and mirrors. If you don't have an actuarially sound system with real investments that can be liquidated, any promises made are empty ones.

As you know, the Supreme Court made this clear when they ruled that no one has a right to collect Social Security benefits, which can be changed, reduced or eliminated any time the Congress chooses.

And young people would be wise to insist that their taxes go to a program that will protect them, rather than pay benefits to retirees. Take those current tax payments out of the loop and the whole rotten "pay-as-you-go" edifice collapses as Ponzi schemes always do.




Seattle Pioneer
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