Easy fix. Print some more money. Seems to be the answer for everything else.
It’s in a LOCK BOX.
Then the elderly who can walk riot. Even in their wheelchairs if necessary.
Except it wouldn’t, cause it’s actually all the general fund, the whole separate balance for SocSec is a fiction.
This is going to be the democrats new tactic over the next few weeks, the old tried and true “push granny over the cliff”. They already tried in once with the easily disproved lie that changes in mail service would prevent granny from getting her Social Security check (all SS payments have been direct deposit since 2013).
How many times do the administration people have to say this: they want to defer the payroll tax and when they find a suitable replacement, forgive the tax that was deferred.
Did he actually propose scrapping it or just deferring it?
Social Security is a pay as you go cash-flow system, regardless of the accounting fiction of a trust fund.
Why? Because it holds no assets except IOUs from the government which has spent surplus funds.
Amazingly, before LBJ needed mucho money, Social Security actually held resalable financial assets (Top quality bonds). It was also much smaller.
Complete scare tactics nonsense...
Oh those mean Republicans, we told you they’d take your
Social Security!
Bull. When does welfare and food stamps run out of money?
No delegated power for Social Security and an illegitimate promise should not be honored....
New sources of funding? There are plenty. Start with the $1.6 trillion that China has owed us since 1916 or so.
This is another damned Democrat lie. They scrap federal tax and leave fica and state tax in. Of corse they have to scare seniors by saying this will effect SS. It won’t.
Deep State strikes again.
Use the payroll of all those worthless overpaid freeloaders up on the hill. 535 members of the house and senate with their combined staff.
If President Trump can work for free, they can too.
“Repealing the payroll tax as proposed by President Donald Trump without putting in place a new source of funding for Social Security would mean disability payments would end in mid-2021 and payments to the elderly would stop in 2023, according to the program’s chief actuary.”
Why is the payroll tax being included in the social security tax. Two separate taxes which should never touch each other. Wasn’t that the reason for the “lock box?”
Dig up LBJ so he can explain to you why SS is an obligation of the General Fund.
Pulling the ole carrot and stick ruse again I see.
When a simple flat tax would solve all the problems and stop with the rich vs poor bullshit.
Social Secure did and always has come from the general fund. There was a movement in the 1980’s, somewhat led by Al Bore, to ‘save’ Social Security by greatly increasing the amount and the amount you were taxed on. Bore insisted that the extra money would be put into a “lock box” for when it was needed. When the fool was running for President he droned on and on that this was true.
What he apparently could not grasp is that one of the biggest thieves to ever infest congress, Robert Byrd, had changed the wording of the bill. The money went into the hands of Congress to continue squander-mania, and Congress just put IOUs into the so called lock-box. So basically there is no lock-box for any part of Social Security - just empty promises!