I'm wondering about the comment at that site, about the money being in Gov't bonds as required by law. Well, if the government needs the money for Social Security, all they have to do is 'borrow' the money needed to pay off those Gov't bonds, then borrow MORE money to pay for Social Security...
I'm not an Economist, but there seems to be a fly in the ointment.
I have long thought that America's finances are backwards. We have a payroll tax to finance Social Security and we pay military costs out of general revenues. It should be the opposite. Military payments of any kind should be on a pay-as-you-go basis. For instance, if you build an aircraft carrier, the money would immediately charged to worker's salaries as a payroll tax. Start a new war - same thing. Establish a new base overseas -same thing.
Within six months of establishing this new payroll tax, the military budget would be cut down to a level where it would truly be a "defense" budget and no longer a war-budget-feeding-trough for military industrial complex.
With that expanse now down to a sane level there would be plenty general revenues to pay social security.
Theorist, the only reason there appears to be a shortage is because the funds collected out of your and my pay check to pay for it go into the general fund and are then "borrowed" to fund more wars and international terrorism. If SS was self-contained and the money useable only to pay benefits, there would be plenty and then some
4 comments:
The Republicans have gotten away with framing social security as being a gift.
It is not. It is a paid up front trust fund, that had trillions of dollars paid into it.
Congress "borrowed" that money and wasted it on senseless wars.
Now they claim that America can't afford social security.
That is not true. America cannot afford imperialism.
I'm wondering about the comment at that site, about the money being in Gov't bonds as required by law. Well, if the government needs the money for Social Security, all they have to do is 'borrow' the money needed to pay off those Gov't bonds, then borrow MORE money to pay for Social Security...
I'm not an Economist, but there seems to be a fly in the ointment.
-DaTheorist
I have long thought that America's finances are backwards. We have a payroll tax to finance Social Security and we pay military costs out of general revenues. It should be the opposite. Military payments of any kind should be on a pay-as-you-go basis. For instance, if you build an aircraft carrier, the money would immediately charged to worker's salaries as a payroll tax. Start a new war - same thing. Establish a new base overseas -same thing.
Within six months of establishing this new payroll tax, the military budget would be cut down to a level where it would truly be a "defense" budget and no longer a war-budget-feeding-trough for military industrial complex.
With that expanse now down to a sane level there would be plenty general revenues to pay social security.
Theorist, the only reason there appears to be a shortage is because the funds collected out of your and my pay check to pay for it go into the general fund and are then "borrowed" to fund more wars and international terrorism. If SS was self-contained and the money useable only to pay benefits, there would be plenty and then some
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