I don't see it that way. The trust fund is a fiction, since its assets are Treasury Bonds. In reality, all incoming funds are fungible; the fact that on paper these funds have assets is not the important one. The important one is that they are cash-flow negative now, and will become increasingly more cash-flow negative in the future.
In other words, whether or not the trust funds have assets that are being drawn down is a book-keeping detail. What matters is that we are running huge deficits, and these programs will be the main causes of those deficits going forward.
No,you are wrong. Try not paying your trust fund taxes and see what happens. Entirely different from your income taxes. The two ARE treated separately. And, they are NOT now cash flow negative. Where do you come up with that stuff?
SS and Medicare are running deficits now.