Thanks. It’s easy to get inflammatory about this topic.
An additional fact—Johnson changed the way SS funds were handled. Previously, they were kept in a separate account and invested. But, with LBJ’s guns and butter policy (Vietnam and the Great Society), he wanted more funds and wanted to keep down tax hikes. So he tapped the cash flowing into the separate SS account (because at that time the wage with holding exceeded the payout), and replaced them with Treasury IOUs. It’s been that way ever since.
I have numerous posts saying the same thing but I have never phrased so matter-of-factly as you.
I also make the point that SS cannot go broke since has no legal obligations.
The other point that I make in a pure troll fashion is that SS is just another welfare scheme designed to bend the knee of the middle class to their Democratic masters.
I still wonder though when push comes to shove how many Freeprs will sell their freedom to keep their SS.
Pearls Before Swine wrote:
“Thanks. It’s easy to get inflammatory about this topic.
An additional fact—Johnson changed the way SS funds were handled. Previously, they were kept in a separate account and invested. But, with LBJ’s guns and butter policy (Vietnam and the Great Society), he wanted more funds and wanted to keep down tax hikes. So he tapped the cash flowing into the separate SS account (because at that time the wage with holding exceeded the payout), and replaced them with Treasury IOUs. It’s been that way ever since.”
Thanks for that info!