You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Elementary Social Security. [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » General Discussion Donate to DU
kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-11-13 02:26 PM
Original message
Elementary Social Security.
Advertisements [?]
If we were to maintain a workforce of 100 million workers who paid $20 per week in FICA taxes (contributions) out of each paycheck, that would mean $2 billion dollars per week would go into the Social Security Trust Fund. (I am only using this as an example because the numbers are quite a bit higher)

So, if we were paying $2 billion per week, that would equal $104 billion dollars per year into the Social Security Trust Fund. That is a lot of money. It is not going to go broke so long as the workers continue to pay into it. The worst scenario would be that the benefits would have to be cut if it ran into a shortfall. Or it would need to be changed in some small way to meet its needs.

The point being that Social Security is not going broke and cannot go broke so long as workers pay into it. The only way it could go broke is if we stop paying those taxes and say that we are going to pay for it out of the "general fund". The "general fund" is always at the discretion of the politicians in power. They can spend it on whatever they desire. This is the danger in the "payroll tax cut".

Bottom line, Social Security is one of the greatest programs ever created and gives workers and citizens an independence from the capitalists and the conservatives in government that despise the program. We should protect it at all costs.
Refresh | +3 Recommendations Printer Friendly | Permalink | Reply | Top
 

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC