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The Federal Government collects more money than they need to pay current retirees. All of the money collected
goes into the general fund. The retirees are paid and the excess money is spent in the general fund. That's Stealing! The
best part is the Federal Government fills out an IOU in your name for the excess they have spent. Americans should be upset.
President Clinton decided to reform Social Security. He created the term Social Security Lock Box. No, that's not a place
to save the excess payments. That would have made sense. The "Lock Box" holds the IOU's. We wouldn't want
to misplace those. Social
Security is a pay-as-you-go system This means the SS taxes that come in each year are used to pay benefits for retirees
for that year only. No mechanism exists for investing any excess funds that are left over. http://www.nysun.com/opinion/stopping-the-social-security-raid/50792/Congress will raid Social
Security funds to the tune of $693 billion over the next decade.
At any point in the last 70 years the US Congress could have fixed Social
Security (SS). This is a disgrace that should haunt every person who has ever served in Congress. Our government
continues to screw every working American. SS was created by the Democrats under President Franklin D. Roosevelt's New
Deal. If SS was changed to save the excess money or give people ownership their portion of the excess money
we would have every American retiring with Millions. Just think 40 to 60 years of retirement savings. We wouldn't
see elderly people bagging groceries. Bush proposed 4 cents of every dollar to go into a private account. Democrats killed
that proposal. Today every man woman and child owes $15,000 just in IOU's. As the baby boomers continue to
retire, we will quickly go from excess money, into the red. The short fall will hit a critical point and balloon
out of sight. Medicare is also about to balloon out of control and the combination could cripple our country. Our
politicians are convinced if they ignore it, it will go away.
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Medicare Medicare
is a larger problem going forward. Current estimates put Medicare 56 Trillion in debt in the next 25 to 30 years. http://www.tcpalm.com/news/2009/jan/11/youd-better-start-caring/The total
combined debt for Medicare and Social Security in 25 to 30 years is 80 Trillion. That will be over $600,000 per family. Why are
we talking about Social Security and Medicare? Because we will turn to taxing US businesses.
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