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Sunday, July 11, 2010

Was the Social Security Money “Borrowed” or “Stolen”? http://dissidentvoice.org/2010/07/was-the-social-security-money-“borrowed”-or-“stolen”/

The 1983 payroll tax hike has generated more than $2.5 trillion that is supposed to be in the trust fund. If the trust fund actually held this amount in real assets, full Social Security benefits could be paid until at least 2037 without any changes. Unfortunately, none of the surplus revenue was saved or invested in anything. It was all spent by the government on wars and other government programs without making any provisions for repaying the money.

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