More Stupidity from Washington D.C.
Here is some more info to consider about changing all the Reps and Sens out and putting new ones in:
Here is the vote on some of the 109 th congress.
"Budget Borrows $674 Billion in FY 2008 From Social Security
Combined, individual and corporate taxes only contribute 65% of revenue. The remaining 35% is from Social Security and Medicare payroll taxes. This amount increases from $837 billion in FY 2006 to $1,138 billion in FY 2012. Of that, only one-fourth is used to pay benefits to current retirees.
Through 2017, Social Security will collect more in tax revenues than it pays out in benefits. That is because there are 3.3 workers for every beneficiary and the tax rate is 12.4%. Although the excess revenue is deposited into a trust fund, it is immediately borrowed by the U.S. Treasury to use for other programs. Therefore, in FY 2008, $674 billion in receipts is “borrowed” from the Social Security trust fund."
Why isn't Social Security trust fund "OFF BUDGET"? It started out thay way.
The same for the "Road" Gas Tax...
The same for the Medicare Tax.....All goes into the general fund and is replaced by an I.O.U.
Source: useconomy.about.com/od/fy2008budget/p/2008_Revenue.htm
Why isn't Social Security trust fund "OFF BUDGET"? It started out thay way.
The same for the "Road" Gas Tax...
The same for the Medicare Tax.....All goes into the general fund and is replaced by an I.O.U.
Source: useconomy.about.com/od/fy2008budget/p/2008_Revenue.htm
Here is the vote on some of the 109 th congress.
Certainly a hard pill to swallow. Things like this just confirm that people in my age bracket will need to shoot for other sources for our retirement and take care of that stuff now (like set up savings, 401K, etc.) There certainly wont be any more in the social security system.
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