What nonsense?If you don't think what I said is true,,you should do a little research.

I believe if you research this you will find that the government always spent the surplus tax revenue by selling themselves special low paying U.S. treasuries. Last I looked the government owns about 3 Trillion dollars of these treasuries. That is what the Trust fund is invested in

.SSA

I agree we were stole from when they forced us contribute at the point of a gun. It was not voluntary.

What you are referring to is the US has used the SS surplus for general expenditures. Where you are wrong is the money is gone forever. In return for using the SS surplus the government issued the SS trust fund US bonds paying whatever interest rate at the time of issue. Since 2021 SS has started to draw from that trust fund as incoming taxes are not sufficient enough to meet outgoing expenses. If as you say the money was stolen SS would be making cuts already.

Unless something changes for the positive that trust fund that you and other say was stolen will be exhausted by 2035. If something changes for the negative, and it surely will, it will be sooner.

It's entirely untrue the money was stolen.

I've done my research.

Here is some more, 40 percent of every dollar the US government takes in is spent on seniors, it wont be long it will be 70 percent. Is that sustainable? Eventually our kids will have to make a decision or the market will make it for them. Either way it's not going to turn out well for those who didn't plan. I'm not even sure it will for those who did.

My above post was in reference to upstate.

Dirt, everyone loved low rates and now the chickens are coming home to roost as they say.

I lived through the mid 70's and early 80's. So far this is a nothingburger.

"The reserves of the larger trust fund (OASI), from which retirement benefits are paid, were nearly depleted in 1982. No beneficiary was shortchanged because the Congress enacted temporary emergency legislation that permitted borrowing from other Federal trust funds and then later enacted legislation to strengthen OASI Trust Fund financing. The borrowed amounts were repaid with interest within 4 years."

Source: SSA

What still kills me is the government borrowing from themselves, paying themselves interest, and claiming they are earning money. Try that with your personal money and figure out how much you made.

What really happens is general funds from income taxes get dumped into the trust fund in the form interest payments. So the SSI program is not just bankrolled by SSI taxes and it is not self supporting.

If you guys are really worried.

How can I make a donation?
You must:

Make out a check or money order payable to the “Social Security Administration” for the amount you wish to donate.
Write a letter stating that the donation you are giving is unconditional.
Specify in the letter which Trust Fund you want to donate to:
Old-Age and Survivors Insurance Trust Fund; or
Disability Insurance Trust Fund
If you do not specify which Trust Fund you want your donation to go to, we will credit it to the Old-Age and Survivors Insurance Trust Fund.

Mail your check or money order and the letter to:
Social Security Administration
Office of Finance
P.O. Box 17042
Baltimore, Maryland 21235
OR
Mail or take your check or money order and the letter to your local Social Security field office.

When pensions have gone by the wayside and IRA and 401 Ks became the saving tools only half participate and many at low levels, so not many would save the 7.62 % of which about 20% goes to Medicare and I doubt most businesses would give a 7.62% raise, of which that increase would be taxable as well. In many ways the government and also many private sector firms have a huge interest in seeing SSA survive and stay as the US economy would really take a hit with millions of retired couples having very low living incomes and thus much less money to spend. Also without Medicare it could be hundreds of billions if not trillions that is spent on HC for the elderlly that would not be collected and that could cause significant issues for all US citizens.

Bryce

If the government did not tax me 15.3 % and give it to other people use to purchase stuff in the U.S. economy, could I not then use that money to purchase stuff in the U.S. economy.

Wealth redistribution is, I believe, just zero sum game when it comes to the economy.

Build a church if'n you're gonna go broke.

SS is a federal insurance product to support orphans, widows (ers), the disabled and their children under 18, and the elderly. It has never been a savings plan. Most retirees recover their contributions within five years.

It is unfortunate that funds were allowed to go into the general funds of the government.

SS is a federal insurance product to support orphans, widows (ers), the disabled and their children under 18, and the elderly. It has never been a savings plan. Most retirees recover their contributions within five years.

It is unfortunate that funds were allowed to go into the general funds of the government.

The Congressional Research Service says that it takes ...on average.......18.8 years for retirees to recover all they have paid into the system.

The US government doesn't have any business in the insurance game

That ship sailed before even White was born.

I was on that ship !!

Ships sink.

One more time the Surplus ssi taxes ( money collected and not immediately redistributed ) is invested in U.S. treasuries. The Interest that is paid to the ssi trust fund comes from the general fund. The money goes the other way. Not something I would do, but the way it is.

" Unlike marketable securities, special issues can be redeemed at any time at face value."

Income and outgo in year prior to report year (in billions) 2022 2023
Income Total $1,088 $1,222
Social Security contributions a $981 $1,107
Income taxes on benefits $38 $49
Interest $70 $66

Source: SSA

Understanding Social Security Trust Fund

And there was this Obama tax cut of the payroll tax.

"In March 2012, the Congressional Budget Office estimated that the transfers from the general fund to the Social Security trust funds resulting from the 2 percentage point reduction in the Social Security payroll tax for workers in calendar years 2011 and 2012 will total $224 billion in FY2011-FY2013."

If you believe that,,you bumped yer head.

And if you retire at 65,,you only have a 38% chance of living another 20 years.