[FITZ]

I think they need to start phasing Social Security out --- we need to admit that the government has squandered the money --- it's not there. Just start paying people every month only what they were putting in a month. I'd be glad to just get out what I put in --- no interest added.

[roadcat]

I think they need to start phasing Social Security out --- we need to admit that the government has squandered the money --- it's not there. Just start paying people every month only what they were putting in a month. I'd be glad to just get out what I put in --- no interest added.

Back in the mid-80's, Greenspan put initiated an increase in SS taxes to fund Social Security for the Baby Boomers. More money went into the fund than was spent for SS costs. The idea was that as the fund grew, it would bear interest and have a pile of money thru 2040 or thereabouts.

Unfortunately, Congress raided the SS fund to pay down the federal budget deficit, and conveniently hid the I.O.U. note. They lied to the people, and the people have forgotten! They already raised the SS tax back in the 80's to make it solvent. Then stole the money. Don't let them do it again. As you said, time to start phasing SS out, because the bastards in Congress will keep stealing our money.