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Social Security: Surplus Misappropriated

Short story By: EdwardJBradleySr
Editorial and opinion



Explains how Social Security "surplus" tax revenues are misused to reduce and, therefore, disguise the true size of the annual U.S. Federal Budget deficit and national debt.


Submitted:Nov 11, 2006    Reads: 589    Comments: 6    Likes: 5   


UPDATE: Monday, March 15, 2010

Recent news tofurther inform:

http://www.timesunion.com/AspStories/story.asp?storyID=911523

http://www.timesunion.com/AspStories/storyprint.asp?StoryID=911523

A common error for the public to make, is to rely on U.S. Government statistics and analyses as a way of determining how federal expenditures are funded and how tax revenues are deployed and, then, accounted.

For example:
By blending Social Security "surplus"Tax dollars with U.S. Income Tax dollars, the U.S.government is able to effectively hide the misappropriation of Social Security surplus tax revenues, used to artificially lower and, thereby, disguise the size of annual federal deficits and the size of the entire federal debt as a result.
Important points for the public's consideration:
1. Most probably, Members of Congress and White House occupants are so cavalier aboutand disparaging of true Social Security reform because none of them (as does no employee of the U.S. Government) participate in Social Security. They have their own separate retirement system provided for employees of the U.S. Government only. If they did have to fully participate in Social Security, then the system would have been truly reformed long before now. This has not happened because they are not going to steal from themselves or"plunder" their own retirement fund. Pride, the greatest of the 7 deadly sins, and greed can be great motivators and, most certainly,are so with respect to White House occupants and Members of Congress.
2. Social Security "surplus" tax revenues, now $600 billion a year,taken for a period of 3 years and 8 months, pays the entire annual federal budget, now $ 2.2 trillion. It's like a 30 -35% surcharge added to the income tax of every working American.

Copyright © Edward J. Bradley 2006

To befurther informed, please click on the following hyperlink. Thank you!

http://moneynews.newsmax.com/david_marotta/social_security/2008/10/13/139884.html?s=al&promo_code=6D06-1





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