I so agree with your posts. SS is a big scam and welfare. How to prove it? If I pay in half as much as you do you get twice as much? No. Then it’s welfare and a redistribution scam. Anyone who advocates lifting the cap is a scoundrel since the diminished return on the dollars paid in are pathetic.
Separate the wheat and the chaff for conservatives on this on topic. You pass 100%!
Well, the legality of it aside there is this:
Have you ever heard that LBJ began spending the SS funds and that it had been exhausted by early in Reagan’s time?
Well, it’s both true AND false.
It’s “true” because LBJ did start spending something and that something did in fact fun out early in Reagan’s time; however, it is false because there had never been a trust fund in the first place, the money in excess of pay outs had always been turned over to Congress and promptly spent.
What followed, an FDR era deception, is that the government pretended that the same entity could both own a debt (counting it an asset) and owe it as well: they kept two sets of books.
The very sort of thing the government will throw you or I in jail for. They may even just take our stuff via civil forfeiture by alleging we’ve not been paying or reporting taxes (and we have no due process, no assumption of innocence).
I will hear say that I believe that Social Security was, no matter how it was sold, ultimately so Congress could have money to spend. It was about growing government.
So LBJ’s corruption that I’ll here propose isn’t really out of line with FDR’s, only LBJ found a new even more corrupt twist.
If I understand it correctly, on the surface what LBJ did might seem a reform: he and Congress stopped the double books, the money was turned over to Congress to spend and all was counted a liability. These were unsecured promissory notes.
He didn’t stop there. What he did, indeed the only thing he could have done, was to basically lay hold of the book of “assets”, completely ignoring the matching liabilities that negated them, and started creating money out of nothing based on them. Poetically we might say he was spending the money twice.
It is perchance not a coincidence that about this time that inflation began to creep upwards and it remained high until about the time this corrupt expansion of the money supply stopped, and it has remained low ever since.
Anyway, those are my thoughts.
“run out” ... I hate typos.