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LETTERS.(ISSUES & INSIGHTS)(Letter to the Editor)
Current Fund Isn't To Be Trusted
In "Social Security Must Focus On 2018, Not 2042" (On The Right, Feb. 22), Charles Krauthammer carefully analyzed the system's problem in an instructive and convincing way.
Then when he is all set to draw the obvious conclusion, namely that all Social Security taxes must be dedicated to a true Social Security Trust Fund that can be spent only for Social Security benefits, he drops the ball and finds fault with President Bush for mentioning the final bankruptcy of Social Security in 2042, rather than emphasizing the year 2018, when benefits paid out actually exceed taxes paid in.
Dedicating a true Social Security Trust Fund has several advantages. It ensures that money will be available in perpetuity. It would provide the growth that is lacking now by reinvesting income.
It would also eliminate the sneaky and unfair payroll tax, now at more than 12% rather than the 6% of some years ago, that workers pay into Social Security but which is actually used for other purposes.
There are two downsides of a dedicated Social Security Trust Fund.
Congress would have to find other resources for current expenses now paid by ...
- THE EQUIVALENCE BETWEEN STATE CONTINGENT TAX POLICY AND OPTIONS AND FORWARDS:...
- Magazine article from: Journal of Risk and Insurance Smetters, Kent September 1, 2000 700+ words
...relevant example: investing the Social Security trust fund in equities. Advocates...the proposal to alter the Social Security trust fund's portfolio from exclusively...Security system by investing the Social Security trust fund in equities. The political...
- Invest Social Security Trust Fund surpluses?(LETTERS)(FORUM)
- Newspaper article from: The Washington Times August 20, 2006 700+ words
...retirement accounts. I offer a third course. When considering Social Security reform one must understand the Social Security Trust Fund. Since its early days, Social Security has taken in more than it has paid out. The Treasury has always...
- Books, cooked D.C. style: 'saving' Social Security by borrowing from it. (money...
- Magazine article from: Newsweek Sloan, Allan February 16, 1998 700+ words
...wouldn't end up in the Social Security trust fund, either. Rather...1999, for instance, the Social Security trust fund is projected to take...don't tell me about the Social Security trust fund's cushioning that...
- WASHINGTON NEEDS TO RELENT WITH BUDGET HOCUS-POCUS; SOCIAL SECURITY TRUST FUND...
- Newspaper article from: Daily News (Los Angeles, CA) November 28, 1998 700+ words
...government to stop including the Social Security Trust Fund in calculating budget...including additions to the Social Security Trust Fund, became an official...just as bogus. Omitting the Social Security Trust Fund, no surpluses are forecast...
- SOCIAL SECURITY TRUST FUND RESTS ON HOLLOW PROMISES.(Editorial)(Editorial)
- Newspaper article from: Daily News (Los Angeles, CA) June 17, 1997 700+ words
...proof'' is that the Social Security Trust Fund, now at about $600...Unfortunately, however, the Social Security Trust Fund is a fraud. There is...government borrows current Social Security Trust Fund surpluses in exchange...
- Social Security trust funds in financially sound condition, according to Social...
- Press release article from: PR Newswire April 18, 1990 700+ words
SOCIAL SECURITY TRUST FUNDS IN FINANCIALLY SOUND CONDITION, ACCORDING TO SOCIAL SECURITY BOARD OF TRUSTEES WASHINGTON, April 18 /PRNewswire/ -- The Social Security trust funds which support old age, survivors...
- SOCIAL SECURITY TRUST FUND ACTUALLY A $162B ELECTRONIC IOU.(Main)
- Newspaper article from: Albany Times Union (Albany, NY) February 10, 1990 700+ words
...1 billion balance of the Social Security trust fund would fill a hayloft...expect when it comes to the Social Security trust fund. Nearly 131 million...no legitimate claim to the Social Security trust fund surplus. "These are...
- Economic Stimulus Package Would Place Social Security Trust Fund in Deficit for...
- Newspaper article from: Science Letter February 10, 2009 700+ words
...economic stimulus plan would place the Social Security Trust Fund into deficit for the first time...the system. Money that comes into the Social Security Trust Fund is used to pay the Social Security checks retirees receive each month...
