Reply #15: You're approaching this problem

[jeanpalmer]

as if it's just an underfunding problem. That's not the case. SS is underfunded because it was looted. It's like any other retirement fund that becomes underfunded because the trustees looted it. Sufficient funds were paid in, but the trustees handed them over to crooked politicians who used them to fund pet political projects in direct contradiction to the purpose for which the money was collected, viz. SS. It was a massive fraud. People were told the excess money would be there for their retirtement, when in fact the politicians were looting the fund all along and the money is gone. It's no different from what has happened in a number of private retirement systems where trustees looted employee contributions and the retirement system ended up underfunded or without any funds at all. And the people who were given the siphoned off funds had pissed away the funds and were broke and couldn't pay back the money or notes or IOU's or whatever they pledged. That's where SS stands.

Under normal circumstances when authorities become aware of a massive fraud of this sort, the sirens go off and law enforcement and prosecutors investigate, conduct accountings, and build criminal fraud charges against the looters and their accomplices. That's what should be happening in the case of SS. Instead, in an effort to cover up the fraud, the politicians are brainwashing people into believeing that they are the cause of the underfunding because they have received too many benefits or have not paid enough SS taxes -- which of course is a big lie.

Any effort to make SS more solvent must start with an investigation into the fraud to determine who took part and their level of culpability. Also, an explanation of how the fraud was pulled off and where the money was spent. The investigation should be the first order of the day. There should be no discussions concerning raising taxes or cutting benefits until after the investigation is complete and charges placed if possible. We need a man of the people type prosecutor who will strictly look out only for the interests of SS plan members and contributors.

That's what has to happen before any discussion of shortfalls in funding can start. And we have to look at all options for getting the money back. To come back to the people and ask them for more money act as if they haven't contributed enough and therefore it's necessary to raise taxes or reduce benefits would simply further the original fraud.