[Conservative Coulter Fan]

Social Security is a pyramid scheme. Social Security is not a savings-and-investment program. Social Security taxes (premiums?) create no wealth. The payroll taxes are not invested, but are used to pay current retirees and survivors under the program. It's called a pay-as-you-go system. Some call it an intergenerational income-transfer program. By law, if Social Security brought in more revenue than it paid out...this money was spent and if the government had not done this....there would have never been a surplus in the late 90s.

You need to also check the latest news on Social Security. For the first time, Social Security paid out $29 billion more than it collected from payroll taxes...it has an unfunded liability of $13 trillion.

[Will88]

You haven’t told me a thing I didn’t know, and my original post is correct, also.

[Will88]

“PARKERSBURG (AP) - The retirement nest egg of an entire generation is stashed away in this small town along the Ohio River: $2.5 trillion in IOUs from the federal government, payable to the Social Security Administration.

It’s time to start cashing them in.”

http://www.newsandsentinel.com/page/content.detail/id/527752.html