From: Don Hutchison <don@cboss.com.changing.soon.to.donh@cboss.com>
Subject: Thank you Mr R
Thank you for agreeing with Henry Aaron and with me that our tax $ which go to current retirees is (always has been) a 100% loss on our "investment/tax/contribution." You did not say, but I would assume you would say the same about our TP $'s used to pay all SS office expenses.
Now for the tricky part. The SocSec "Trust Fund." The SSTF. By 1935 law, any extra dollar goes to the general fund. That law has never been changed. James might get bent our of shape by this, but he is correct. Our problem is NOT excess SS tax $'s. It is Fed Gov borrowing. But the New Deal passed the law. Automatic borrowing. And we pay billions of interest annually, now, on our own money which is not even there.
This forum is not about excusing a Gov't Ponzi type swindle. This forum is how to change the system for the benefit of the taxpayer. Every dollar ever credited by Treasury to the SSTF is spent by Congress and must be repaid by someone in the future. None of these $'s have been invested for the benefit of the TP.
The TP owes it again. Congress has never wanted the principal repaid. They want annual interest, compounding our debt. Look up in the World Almanac to see how your debt is skyrocketing. To the old time Democrats and Republicans, who are now the new Libertarians, let me say this. I have two programs. One on Basic and the other on a spreadsheet program. You can write one, get it from me, find someone else who can do it. Just enter how much you and your employer "contribute" each year, how many years and what
% interest you think you might earn. If Congress had buried all you money in the back yard of the White House or stored it in Fort Knox, you would not have a debt near $1 trillion today and would not grow to be $4 trillion by 2020 +/-.
It is a big mistake for anyone, pro or con, to compare what you paid in to what you are told you might get from current workers, after you retire.
This forum should continue much longer than just the end of next week.
Don New e-mail = donh@cboss.com
