05-14-2011, 01:06 AM
There is no "lock box" Grace. Government routinely "borrows" and spends from the fund. How can you not know that? Since you have an unbounded trust in the government, read what they promised early on,
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At the outset of the Social Security program, the federal government published an informational pamphlet that stated the following with regard to Social Security taxes:
And finally, beginning in 1949, 12 years from now, you and your employer will each pay 3 cents on each dollar you earn, up to $3,000 a year. That is the most you will ever pay.[48]
* Accounting for inflation, this promise equates to a maximum tax collection of $1,655 per person in 2010 dollars.[49]
* In 2010, the maximum payroll tax collection per person was $13,243 or eight times the promised maximum.[50]
http://www.justfacts.com/socialsecurity.asp
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At the outset of the Social Security program, the federal government published an informational pamphlet that stated the following with regard to Social Security taxes:
And finally, beginning in 1949, 12 years from now, you and your employer will each pay 3 cents on each dollar you earn, up to $3,000 a year. That is the most you will ever pay.[48]
* Accounting for inflation, this promise equates to a maximum tax collection of $1,655 per person in 2010 dollars.[49]
* In 2010, the maximum payroll tax collection per person was $13,243 or eight times the promised maximum.[50]
http://www.justfacts.com/socialsecurity.asp