It wasn't presented to them as an illegal Ponzi scheme, when the Feds first began confiscating taxes from their earned incomes, but that's really what it was.(and is)
There was no separate account for the working persons SSAN tax money, so their duly elected officials spent it. Every cent of it.
And “they” let them do it.
And “they” will now be robbed again.SCOTUS has already ruled the Feds can make any changes they want too with SSAN monies. Payments can go up, as it has for years, or they can be cut, and they will be, soon.
It's ugly, unfair and totally despicable, but it's what IS going to happen.
Nope. That is not going to happen. Instead, an insidious and crushing tax will be imposed on everyone; rich and poor. It will actually affect the poor the most, even those who don't work, although it will also disproportionately penalize those who have saved and invested. The tax will be invisible, and it will allow politicians to continue to claim that "not one penny of anyone's Social Security has been cut."
The tax is called debt monetization. Get ready for Russia in the late 1980's.
The GOP has long been derided as the “party of grumpy old (white) men”. Now, it seems you even want to piss off that demographic. Way to build a winning coalition.