[Homestead] Morning thought

Lynda lurine at softcom.net
Wed Feb 2 12:06:21 EST 2005


Site references.  You keep talking about this law but I don't find it.  I
find references within the law to trust funds.

Now, as to your statement that tax money has to be spent, that is not true.
All federal moneys can be rolled over unless that particular funding acct.
has rules otherwise.  Most don't.

I think you are confusing a long held bureucratic thought pattern "if we
don't spend it all we won't get any more" with facts.

Lynda
----- Original Message -----
From: <Clansgian at wmconnect.com>
To: <homestead at lists.ibiblio.org>
Sent: Wednesday, February 02, 2005 7:41 AM
Subject: Re: [Homestead] Morning thought


> In a message dated 2/2/2005 10:17:21 AM Eastern Standard Time,
> genegerue at ruralize.com writes:
>
>
> > If investing in stocks and bonds is superior to the present system, why
> > doesn't the government simply invest our Social Security funds there?
> >
>
> For one simple reason, it's against the law.  This is central to the whole
SS
> topic.  The government is not allowed by law to keep tax money, it must
spend
> it.  One hears repeatedly that 'Well, if those greedy, slimy politicians
> didn't spend all the money on other things, there'd be plenty for SS.!!"
Greedy
> and slimy they may be, but by law they HAVE to spend it all.  Only one of
two
> things can happen to all the money taken in for SS this year, 1) it can be
> distributed to SS recipients or 2) it can be given to the general revenue
in
> exchange for a promise to pay it back at some future time.   Once it is in
the
> general revenue, it is illegal for congress to do anything with it but
spend it.
> They cannot themselves invest it in private stocks and bonds because of
the
> very real danger of conflict of interest.
>
> The whole present SS system is based on the promise that if you pay your
> money into it today, the government will squeeze funds out of workers in
the
> future to pay you.  Actually, no such promise exists, it's more of a hope
for those
> being taxed now.  Congress has the power to call off the whole scheme any
> time it sees fit.
>
> James
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