Social security - Very big deal.

Windarossa · 05-25-2005, 04:12 PM

[color=#810541]We are discussing this matter seriously in Economics class. Many don't realize but when SS first started it was a plan for the future. People paid taxes for SS, and when they get old they have SS. So SS was originally designed to be a "pay as you go" system. Now here is where the government began to flip up...

They began to borrow money from SS aka our taxes! They borrowed so much that SS didn't have enough to support people, so SS borrowed money form other funds and on and on it went until we had to borrow from other countries.

Well, this will come as a shock to some, but as of today our debt to other countries is rapidly exceeding 8 trillion dollars. Taxes provide about 2.2 trillion a year which is just enough to sustain us. So with the way the US is going. The debt will continue to rise, until neither, the state nor the federal government can no longer support SS, Welfare, SSI and other important programs that house, feed and shelter the poor. Or instead of taxing 33% on our pay check they will simply start taking 50% or even more in order to afford SS!

People don't realize this but we will all probably end up in DEEP POOP when we get older. I don

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05-25-2005, 04:12 PM	#10
Windarossa Senior Member Senior Member Join Date: Apr 2004 Location: Brooklyn, New York Posts: 483 Post Thanks / Like Thanks (Given): 0 Thanks (Received): 0 Likes (Given): 0 Likes (Received): 0 Dislikes (Given): 0 Dislikes (Received): 0 Points: 0 Mentioned: 0 Post(s) Tagged: 0 Thread(s) Quoted: 0 Post(s)	[color=#810541]We are discussing this matter seriously in Economics class. Many don't realize but when SS first started it was a plan for the future. People paid taxes for SS, and when they get old they have SS. So SS was originally designed to be a "pay as you go" system. Now here is where the government began to flip up... They began to borrow money from SS aka our taxes! They borrowed so much that SS didn't have enough to support people, so SS borrowed money form other funds and on and on it went until we had to borrow from other countries. Well, this will come as a shock to some, but as of today our debt to other countries is rapidly exceeding 8 trillion dollars. Taxes provide about 2.2 trillion a year which is just enough to sustain us. So with the way the US is going. The debt will continue to rise, until neither, the state nor the federal government can no longer support SS, Welfare, SSI and other important programs that house, feed and shelter the poor. Or instead of taxing 33% on our pay check they will simply start taking 50% or even more in order to afford SS! People don't realize this but we will all probably end up in DEEP POOP when we get older. I don __________________ [img:sig_uid]http://img.photobucket.com/albums/v465/Restavega/contest.gif[/img:sig_uid] Punish the deed, NOT the breed!