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Reply #133: SS is not bankrupt [View All]

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trud Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-20-11 07:21 AM
Response to Reply #3
133. SS is not bankrupt
Just in case anyone has bought into this, let me note that SS should be solvent. Take a look at the statement you can get from SS about how much you've been taxed for SS each year, calculate what that would amount to using compound interest over all those years, remember it will still be earning interest while it is paying out benefits, and you'll see the government is making a tidy profit on each person now receiving regular SS.

I have several times heard Republicans, including the late William Buckley, whom I always thought was intelligent although misguided, total up the taxes and completely ignore the compound interest which makes a GIANT difference.
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