Fleming Vs Nestor. The federal Government is under no obligation to pay you your Social Security. Section 1104 of FICA, the “Reservation of Power” allows the congress to spend the money in the system by putting it in the general Fund and putting IOU’s in its place. So when the Feds send you a statement of your “account” think of it as a second mortgage.
Laura D’Andrea Tyson is an economic adviser to Obama. She served in the Clinton Administration where she authored an idea to tax Employer Contributions to 401k’s as current income and a retroactive tax of 15% on 401k’s to make up for them not being taxed in the first place. Read “Mrs. Tyson’s Fried Economics” in National Review c 1993.
Is she a Tyson chicken heir from Arkansas?............