Quote:
Originally Posted by villagegolfer
Social Security is a Ponzi scheme. It was raided during the Johnson Administration to pay for the so-called War on Poverty and VietNam. Basically they wrote I.O.U's that do not have a snow-ball in h*** chance to ever being paid back.
Ladies and Gentlemen, there is no fund sitting there for us to collect. If Johnson and his cronies did not touch it and it was invested properly, you would be very secure in your old age.
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Although they are "Special Issue" Treasury Securities, they do exist. They earn interest and could be cashed in just like normal Treasuries. The Trust Fund is held in Virginia.
http://www.usatoday.com/news/washing...ust-fund_x.htm
Records are maintained and public.
http://www.ssa.gov/oact/progdata/qop.html
http://www.ssa.gov/oact/progdata/assets.html
I'll have to research the Johnson comment. All I recall is that Johnson's
Great Society gave us Medicare.