The big problem will be that people pay into Social Security and Medicare.
Yes, and like any other ordinary tax, it goes into the General Fund never to be seen again.
Medicare is a tax. Social security was billed as a retirement funded from payroll tax and accrued to your social security number. You should get a return of the present value of principal taken from your paycheck over the years as a bare minimum.
No, they are a taxed wrapped in verbiage to make the B.S. go down easier.
They are 1) Unconstitutional 2) Taxes. Just because you willingly stuck your head in the sand ‘expecting yours’ does not make them any different.
Welcome to the Ponzi scheme of government promises; shame you didn’t get in on the ground floor.
Whatever do you mean by “pay into”? There’s nothing into which to pay. You don’t own a policy, like with insurance, even though they lied and called it insurance at first. The money ends up in the same place as revenue from all the other taxes. Might as well say you “pay into” SS by paying the income tax.
In “Fleming vs. Nestor” the Supreme Court ruled:
To engraft upon the Social Security system a concept of ‘accrued property rights’ would deprive it of the flexibility and boldness in adjustment to ever changing conditions which it demands.” The Court went on to say, “It is apparent that the non-contractual interest of an employee covered by the [Social Security] Act cannot be soundly analogized to that of the holder of an annuity, whose right to benefits is bottomed on his contractual premium payments.”
In Helvering vs. Davis the Supreme Court ruled:
“The proceeds of both the employee and employer taxes are to be paid into the Treasury like any other internal revenue generally, and are not earmarked in any way.”
Social Security is not an insurance program at all. It is simply a payroll tax on one side and a welfare program on the other. Your Social Security benefits are always subject to the whim of 535 politicians in Washington.