There is a trust fund and it has just shy of $3T in a special form of Government Treasuries. The Government can only invest the excess FICA taxes in Treasuries. Yes, the excess money (FICA taxes collected in excess of benefits paid) did go into the general fund - that is how the Government works - but SS got credit for the excess plus interest, it is called the Trust Fund. Nobody stole anything. The Trust Fund is essentially a guarantee that the Government will borrow $3T on the global markets to help pay benefits. We are just now getting to the point where FICA taxes don't cover the benefits and SS will start cashing in the Trust Fund to make up the difference. The current and future debt is clearly not an optimal situation. I'm sorry you consider the situation hopeless. Not everyone shares your pessimism.
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Originally Posted by oneclickplus
Well, it's all semantics. Technically, it's NOT your money. If it was, you could put it in your will and bequeath it to your kids. But, if you die before collecting, you get nothing (example). Also, everything you (and everyone else) ever paid has already been stolen and spent. Social security (FICA) taxes have been dumped into the general fund for decades and spent on everything from defense to missiles to food stamps to housing for illegal immigrants. It's all gone. There is no trust fund ... no lock box. It's all an accounting trick.
All you have is a promise to get payments from future taxes (and debt). The US Dollar is being destroyed and those payments will eventually be worthless. I encourage all to find / read a book "When money dies" by Adam Ferguson. This house of cards will fall / fail. The dollar and the USA will collapse. Inflation and debt are past the point of no return. This can no longer be fixed - it is a mathematical certainty. The social consequences will be catastrophic.
Think for a moment. If your money becomes worthless, how will you acquire your needs? When the dung comes in contact with the rotating blades, are you ready? If the dollar isn't accepted for food, how will you acquire food. Food shortages are already evident around you. You can live without money, silver, gold. You can not live without food & water.
What they call your social security payments is the least of your concerns.
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