>>>>The trust fund reality in my view is as follows: a) current beneficiaries get below market returns for their contributions- there is ample data, from private retirement plans from local governments and private enterprises, to support this claim; b) the federal government has an additional pool of money to satisfy its spending habits; c) our children, who have no voice in this matter, are liable, through higher income taxes, for our spending of that money; d) our children will have to pay higher payroll taxes to support us in our retirement.
Other than b), none of your comments have anything to do with the Trust Fund. They were addressed to SS in general. And b) is pretty much misguided. Since the federal govt can borrow from any person on the planet who has the money and wants to invest, and all those mutual funds, pension funds, etc who like the safety and security of US Treasury securities, I hardly think they would miss the Trust Fund as part of the pool. Indeed, since the trust fund money would still probably exist somewhere (unless the FICA tax was reduced and the workers merely spent the money), it would still be in the pool.
