this leaves out a couple more facts. 1) you paid income tax on the money you gave back for social security, to be put in a trust until you retired. now they make you pay income tax again when you retire and you start drawing social security. 2) they were supposed to pay interest on the money they borrowed from social security at the current interest rate each year. this chart from SS shows since 1937 when it began, they have never paid any interest on the money they borrowed. do the math...Receipts - Expenditures = Net Increase In Trust Funds... now look at Amount At End Of Period column. add the Net Increase In Trust Funds to Amount At End Of Period column and you see no interest has ever been added. ssa.gov/history/tftable.html
Posted on: Tue, 15 Oct 2013 19:49:59 +0000
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