Originally Posted by hasbeen1945


Did you read the article?

"What many people don’t know is how Social Security actually works. There is no cash in the bank to pay out monthly benefit checks. The Congress, those keepers of the financial retirement flame, have been using Social Security taxes to fund other parts of the government because, well the money is there."

Like I said the SS tax has always gone straight into the Treasury from the beginning to be spent just like all the other taxes. The Treasury was supposed to track it and to replace the it with Treasury notes (IOU's) to be cashed in when needed in the future. What LBJ did was to start counting the SS Treasury notes as assets because it made the budget look better and he could afford to create his "Great Society".

Economist Walter Williams has written a lot of good articles about the Social Security scam like this one."

https://www.ocregister.com/2012/06/13/walter-williams-social-security-is-not-your-money/

Last edited by victoro; 11/28/22.