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To: Reagan69

It goes beyond that - a pox on all of them. I remember when they raised the contribution rate for social security over 30 years ago. This was supposed to ensure that there would be enough money to support the baby boom retirees. They also raised the age for full retirement.

For years, they collected more than was spent on social security and put it in the trust fund. They immediately wrote an IOU to the trust fund and spent the money.

They also continually found ways to let people who never paid in to social security to draw it -further undermining the system.

If they had let me invest even a portion of that money, I would not need their stupid social security anyway. Now they have essentially borrowed money to distribute to the fat cats, and they are going repay it on the backs of the poor and elderly.

Plenty of politicians from both parties have participated in this fiasco.


102 posted on 01/21/2010 9:42:03 AM PST by greeneyes (Moderation in defense of your country is NO virtue. Let Freedom Ring.)
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To: greeneyes
It goes beyond that - a pox on all of them. I remember when they raised the contribution rate for social security over 30 years ago. This was supposed to ensure that there would be enough money to support the baby boom retirees. They also raised the age for full retirement.

They have raised the tax rate many times since 1937 when the total rate was 1% each for employee and employer.

And the wage base [cap] for the tax has rised from $3,000 in 1937 to $106,800.

109 posted on 01/21/2010 10:07:40 AM PST by kabar
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To: greeneyes
They also continually found ways to let people who never paid in to social security to draw it -further undermining the system.

Chief among these are legal immigrants who bring their elderly parents here, and get them installed in Senior housing and SSI, when they never spent a day in their lives paying US taxes.

This is where the cuts should be made; sponsors of immigrants are supposed to be responsible for the family memebers that they sponsor, not the taxpayers.

126 posted on 01/21/2010 1:00:58 PM PST by happygrl (Continuing to predict that 0bama will resign)
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