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View Diary: The business case for why chained-CPI is theft and breach of contract. (92 comments)

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  •  No, I'm trying to point out why people like you (0+ / 0-)

    are misrepresenting the system as a whole.

    I've already stated that the SS system is owed money from the federal government.  Many people want to claim that as an asset.  You seem to be one of those people.  I'm pointing out that it is a bullshit understanding of the system to claim that.

    Instead of acknowledging that fact you seem to continue digging your heels in.  But perhaps I'm misunderstanding your position.

    So what is it?

    I say that the SS had surpluses and was forced to buy government securities.  The federal government spent that money and created IOUs for the SS system.  For the SS system those IOUs are viewed as an asset.  For the federal government it is viewed as a liability.  The net effect is that it is a wash.  But there are people that want to hype the SS trust as an asset and dismiss the liability of the federal government.

    So do you refute any of this?

    If so, which part?

    If it is accurate, why play games and call the SS trust fund an asset?

    If you honestly and factually answer those questions we can have an honest dialogue.  If you ignore those questions or do not know the answers to those questions it is difficult to have a serious discussion.

    In my comments to this and other SS diaries you can see where I'm coming from.  But it is difficult to take seriously anybody that wants to say that it is of any import that the Trust fund is owed money from the federal government.

    So the choice is yours.  Ignore my questions or answer my questions.  

    Anyway, if you are worried about who benefits the most and who gets screwed perhaps you should examine the issue from a generational perspective.  Gen X and Gen Y pay 10 percent more in taxes than the early boomers.  Do they take out any more than the boomers?  If not, why is the system fair?

    We cannot solve our problems with the same thinking we used when we created them. Albert Einstein

    by theotherside on Sat Apr 27, 2013 at 03:22:56 PM PDT

    [ Parent ]

    •  You are on a side track. (0+ / 0-)

      1. Yes, Social Security is owed money by the federal government.  That is correct.  I never doubted it.  In fact, my diary recognizes this point.  See #2 and #3 below.

      2. The federal government does not have cash reserves, so the money for paying back SSI has to come from other taxes.  Congress has deviously persisted in borrowing up to now, but will not do so any more.

      3. My diary addresses Who. Will. Be. Paying.  For. The.  Deficit.  either Social Security recipients via reduced earning, Or the people who have benefited from lower income and corporate tax rates while SSI was being raided.   That is the point.  It is not a deflection from your question.  It was the main point of my diary.  

      Your comment about SSI having IOUs seems to be a complaint about tax rates.  Fine, write a diary about it.

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