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The numbers contradict you because:

1. You are not taking into account the fact that people with future claims on Social Security are currently contributing to the fund.

2. You are focusing on future liabilities without taking into account future additions to the fund.>>

How many times are you going to count the same dollar of revenue?

* once when it's being paid and sent out the door to current claimants

* a second time when you count the same dollar as funding future beneficiaries.

Social Security famously, and correctly, claims to be a "pay as you go" system. Which is to say, it doesn't accumulate more than trivial amounts of assets ----the $3 trillion you refer to.

And Democrats are already proposing further tax increases so that $3 trillion will never be paid out in benefits, although it was only accumulated with the idea of funding payments to the baby boomer generation. After that, taxes were supposed to be CUT.

But since our innumerate "creative class" can't understand the idea of not making promises you can't fulfill, consider this:

The creative class is currently in a tizzy over a crash in employment they expect to have happen because of the impact of artificial intelligence. Many millions of working class and creative class jobs would go away. Millions of jobs going away means many billions of dollars of payroll taxes that wont be paid, but there will be huge numbers of people still expecting a check for decades to come.

If the revenue you expect isn't coming in from payroll taxes, where will the money to pay benefits come from?

Seattle Pioneer
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