What is the evidence that trickle down economics actually works?

[Mac1337]

Seriously, you don't know social security taxes are poured into the general revenue and spent? Oh, this just in. Not good for "the world's largest and most efficiently run social service program",

http://news.yahoo.com/s/ap/us_social_security_medicare

The Medicare hospital insurance fund for seniors is now projected to run out of money in 2024, five years earlier than last year's estimate. The Social Security trust funds are projected to be drained in 2036,

[Grace62]

Dakota wrote:
Seriously, you don't know social security taxes are poured into the general revenue and spent?

Where on earth did you hear that?? That is false. All taxes collected are invested daily into the Social Security Trust fund.

http://www.ssa.gov/oact/progdata/fundFAQ.html

[Mac1337]

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,
------------
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

[Grace62]

You need to read a little more about that "borrowing from the trust fund." Read the link I gave you, you'll understand it better.

Saying things like "social security taxes are poured into the general revenue and spent" are really common in the rightwingnutosphere and reveal ignorance; this is commonly used as a scare tactic by politicians.

[Grateful11]

Dakota wrote:
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,
------------
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

Where in that does it say the funds are being spent elsewhere? You really need to back up what you are
saying or means nothing.

[Mac1337]

Grace62 wrote:
You need to read a little more about that "borrowing from the trust fund." Read the link I gave you, you'll understand it better.

Saying things like "social security taxes are poured into the general revenue and spent" are really common in the rightwingnutosphere and reveal ignorance; this is commonly used as a scare tactic by politicians.

You are the one who needs education. There is no lock box and you know it.

[Mac1337]

Grateful11 wrote:

Where in that does it say the funds are being spent elsewhere? You really need to back up what you are
saying or means nothing.

The lesson is that even after stealing from the "trust fund" for 70 years they still are off by 800%. This is the same system that keeps telling people everything will be fine. I am not surprised it makes you uncomfortable.

[Grateful11]

Dakota wrote:
[quote=Grateful11]

Where in that does it say the funds are being spent elsewhere? You really need to back up what you are
saying or means nothing.

The lesson is that even after stealing from the "trust fund" for 70 years they still are off by 800%. This is the
same system that keeps telling people everything will be fine. I am not surprised it makes you uncomfortable.
I'm not the one that's uncomfortable here, I haven't paid SS in almost 25 years, I'm not part of this plan.
I believe it is you that's uncomfortable with it and still haven't came up with one shred of proof that the
funds of this program is being spent on other programs. I pay into a retirement program that's fully
funded for the foreseeable future.

[john dough]

Facts matter. Validate your statements with proof.

[Mac1337]

Grateful11 wrote:

I'm not the one that's uncomfortable here, I haven't paid SS in almost 25 years,

Interesting. I must have missed my window for opting out. How do you do that?