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In reply to the discussion: Ultra Low Interest Rates A Threat To Social Security [View all]OnlinePoker
(5,696 posts)57. It's not just taxation to pay back the interest
It's taxation to pay back the principal as well. The $2+ trillion in money that went into the fund is gone with the government giving promisory notes that they will pay them back in the form of treasuries. Because there will be insufficient revenue from the payroll tax to cover the expenditures to pension recipients in the near future, these treasuries have to be paid back with new revenue in the form of non-payroll taxes (unless they raise the cap). People paying in now will have to pay both SS and the increased taxes to keep the system afloat...double taxation for the same benefits.
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From previous reports. Just because they're not online does not mean they do not exist.
jeff47
Mar 2016
#41
Well, yeah Congress can always amend the SS Act. But until they do that, it's pretty much a market
Hoyt
Mar 2016
#28
I think they have driven rates down in the hopes of spurring job creating business.
Hoyt
Mar 2016
#29
And it hasn't worked well because of other issues that only Congress, not the Fed, can address.
strategery blunder
Mar 2016
#47
Agreed. Allowing giant banks to borrow money for free from the taxpayers without no requirement
GoneFishin
Mar 2016
#51