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View Diary: Social Security: whose piggy bank is it? (75 comments)

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  •  I only agree with lifting the cap only if the (1+ / 0-)
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    ozsea1

    surplus is spent down and the system reverts to pay-go.  The surplus serves no purpose if it is never redeemed and doesn't pay meaningful interest. Interest on new issues is under 2%, and the only 'crisis' is for the wealthy who are losing their income tax subsidy as the surplus crests and the threat of redemption nears.  If we cannot redeem $2.7T  now, we'll never redeem $5T later, and we are better off with paygo where each years revenues match each years expenses.

    To any wingnut: If you pay my taxes I'll give you a job.

    by ban48 on Sun Feb 03, 2013 at 08:49:24 AM PST

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