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Author: lowstudent Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 740314  
Subject: Re: Socialism in Action Date: 3/7/2005 9:50 AM
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People put money into the system, which is used to pay some people's benefits. For that they are accrued an obligation on the part of the system, which will be paid later according to the same system. This program is not so complicated, although I understand that after only 70 years of performance, there are still many people who cannot fathom its mysterious workings.


Yes, I find it amazing that there are folks who can't figure it out, and who use analogies that have nothing to do with what they are talking about to show how smart(?) they are.

What does SS? and bank dollars have to do with each other. SS doallars are like dollars spent on gas, it is used and when you com back it is vapor and poluition(future debt). Bank dollars are used and returned and used some more and returned.

I am sorry you can't seem to fathom the difference.

After 70 years of performance the system is hopelessly broken. After 70 great years of performance many things die. SS as currently formulated is there. Unless it starts collecting a lot more money it isn't going to be able to pay people and that starts soon, 2018 SS starts using money from non-SS taxes to pay benefits. No make believe happy talk is going to chnge that.
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