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Brvtvs

Brvtvs

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Submitted 306 days ago...

Libsarewrong

Libsarewrong

Professor (1,543)

Can a member please explain what the social security trust fund is and explain if it really exists or is it a con perpetrated by FDR to fool the sheople?

I look forward to any and all answers, feel free to give your political view in addition to facts about Social Security and how it operates.


This question was edited by Libsarewrong 240 days ago.

Reason: edit

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Answer 1 / 2 - Submitted 304 days ago...

Libsarewrong

Libsarewrong

Professor (1,543)

Shall a wise member please stand up and attempt an answer, is this question above your pay grades? Give it your best shot, like the Democrats are doing with the debt ceiling debate.


This answer was edited by Libsarewrong 238 days ago.

Reason: come on wise members answer it

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Answer 2 / 2 - Submitted 304 days ago...

Brvtvs

Brvtvs

Authority (489)

I've avoided answering any questions of yours because with a name like Libsarewrong, it's obvious that you're spoiling for a fight rather than asking questions out of any real curiosity, and I presume you really just want your own biases confirmed. Politics and religion both fall into the realm of intractable debate, with sides hardened and immune to influence, though that doesn't stop factions from arguing their points to anyone foolish enough to listen. Polite people don't engage in such nonsense. With this specific question, maybe you're getting no response because you're such an obvious troll, goading someone to reply. I'll be the first to wade in, but not because I expect anything fruitful to occur. I'm foolish this way.

Precedent for public support comes from colonial-era "poor laws," as well as pensions provided to Civil War veterans and their widows. The Social Security Act was enacted in 1935 as part of FDR's New Deal. It was amended numerous times (1939, 1961, 1972, 1985, 1993, and 2000) over issues such as retirement age, cost-of-living adjustments, rate of withholding, taxation of benefits, and eligibility. Over the course of its history, many politicians have had involvement in The Social Security Act, so although it was signed into law by FDR, there has been plenty of political interest among politicians over this program and similar ones stretching back over 200 years.

The Social Security Trust Fund, which is ostensibly the clearinghouse for monies collected and distributed under the Act, has a long Wikipedia entry. I'm not an expert in this area, so there is no need for me to repeat or even summarize what is found there. However, I'll give a brief opinion. The Trust Fund is ideally intended to be off-budget and not mingled with general funds in the U.S. Treasury. Pub. L. 101-508, title XIII, Sec. 13301(a), Nov. 5, 1990, 104Stat. 1388-623 speaks to this. However, in practice, the Trust Fund has been raided repeated for general operating funds. It's an obvious example of the same accounting games and lack of fiscal discipline that has plagued American politics for generations and given us the national debt, a promise to pay based on faith in the U.S. government as too big to fail.

Is SSI a con that has fooled people? No, of course not. Whether one agrees with the notion that as a people we ought to assist each other in times of need or should abandon each other to our individual fates as we sit atop our miserly hoards, it is uncontroversial that many people rely upon Social Security for their sole income in retirement.

 

This Question was awarded 237 days ago therefore you can no longer post an Answer. However you may post a comment below.

 
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Submitted 303 days ago...

Libsarewrong

Libsarewrong

Professor (1,543)

Don't hate son, just appreciate and vigilantly go forwrd with Obama over the cliff, thanks for the response, really!

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