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What did they do with the Social Security surplus ?

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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 03:33 PM
Original message
What did they do with the Social Security surplus ?
Last I read, it was about $2 trillion dollars. That ain't hay. It was well on its way to protecting our present retirees and future retirees as well. But they spent it. They gave it to the wealthiest people in this country in the form of tax breaks. They gave it to the big defense contractors like Halliburton to grease the war machine. They spent it on numerous pork projects in many different Congressional districts across this nation. And now, they have the gall to tell us that the fund is in trouble. The gall!

We say to those profligate spenders and tax-cutters, find our money. Put it back. If you have to sell your yachts and your extra mansions, put the money back or we will have your jobs. Every damn single one of you. Do you understand? Do you want a fucking revolution? Start finding the money. We don't need no friggin' private accounts. We don't need any more of your bullshit. You spent the fund on pork and you gave it away to the people that did not need it and we want it back.
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simcha_6 Donating Member (333 posts) Send PM | Profile | Ignore Fri Mar-04-05 03:36 PM
Original message
So much for the lockbox
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gumby Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 03:36 PM
Response to Original message
1. Where did that money go?
Up their nose? is always an appropriate guess.
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 03:43 PM
Response to Reply #1
4. They gave a big tax cut to fat pigs who didn't need it
and that caused a tremendous revenue shortfall. They simply aren't collecting adequate income taxes to run this government.

So they stole from poor people's retirement insurance.

WAKE UP.

The only way to get this country's fiscal house in order is to start with a progressive income tax structure.

Make them pay us back.
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 03:51 PM
Response to Reply #4
5.  I like the way you think Warpy...
It's time to pay us back, the greedy SOBs...
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Al-CIAda Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 04:07 PM
Response to Reply #4
8. This is what the Dems SHOULD be saying, the Repigs STOLE your money!
They STOLE your retirement and now don't want to pay it back.
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 04:19 PM
Response to Reply #8
10. The people should not wait for their Congressperson to defend them..
The people should be on the streets demanding that Bush cease all the BS talk about private accounts,etc and find a way to put the money back that he has managed to steal just in the last 4 years.
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prolesunited Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 03:38 PM
Response to Original message
2. To the millionaires
The share of the tax cuts going to the wealthiest 1% of households - with an average income of $1 million a year - is roughly the same size as the shortfall in the Social Security Trust Fund, when measured over a 75 year period, according to the Center on Budget and Policy Priorities.

http://www.faireconomy.org/research/FactSheet.htm
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flamin lib Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 03:39 PM
Response to Original message
3. It went into the general fund after having treasury bonds issued
to cover the trust fund. Once there it was spent just as any other revenue. The "lock box" has always been treasury bonds. When the surplus income diminishes, the trust fund will sell the bonds for cash to continue paying benefits.
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bullimiami Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 04:03 PM
Response to Original message
6. my thought is that they will bankrupt the country
and default on the SS Surplus. Thus stealing the 2 trillion from us. Then they just continue on with more tax breaks, kickbacks and govt contracts for the cronies while we live in a Dickens like society redux.

The reason the surplus was there to begin with was orchestrated by Greenspan and his pals in the reagan era so it would be there when the boomers retired. I guess the plan all along was to find a way to screw the citizens out of it.
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 04:06 PM
Response to Reply #6
7. Just like they plan on doing with the "private accounts"...
They will find some way to define it as a fund so the government can use the money for more taxcuts or giveaways when needed, of course, guaranteed by the good faith of the US Government.
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rox63 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 04:09 PM
Response to Original message
9. First they gave a tax cut to the rich people
Then they had a couple of wars, and sent a bunch of money to Halliburton.

:puke: :puke: :puke:
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Nederland Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 05:57 PM
Response to Reply #9
12. No
Congress has been spending the SS surplus ever since there was one, which long pre-dates the tax cuts.
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0007 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 05:34 PM
Response to Original message
11. Duh?
Edited on Fri Mar-04-05 06:05 PM by 0007
http://www.pbs.org/newshour/bb/politics/jan-june00/gop_stump_1-14.html

JIM LEHRER: Yesterday, Governor George W. Bush had a town meeting in Londonderry, New Hampshire. Janurary 14, 2000

GOV. GEORGE W. BUSH: We're in a tax debate here in this state and around the country. And let me explain my position as clearly as I can. First, unspent surpluses in Washington, D.C. will be spent, you mark my words, you leave money sitting around the table in Washington, Washington politicians will spend it. Now, I believe there's enough money. If you lockbox the payroll taxes, there is $2 trillion to make sure the Social Security system is safe and secure-- $2 trillion.

I intend to lockbox the payroll taxes and spend them only on what they're supposed to be spent on, and that's Social Security.
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Gold Metal Flake Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 06:01 PM
Response to Reply #11
13. Check the date in your post.
2000, not 2004. Otherwise, great job pulling up this gem! :toast:
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0007 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 06:06 PM
Response to Reply #13
14. Thank you! The date has been corrected
I'm a lousy editor.
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donkeyotay Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-04-05 06:29 PM
Response to Original message
15. Damned straight, kentuck
They stole our money. The head fraud went around saying he thought taxes should be cut because people should keep more of their money. Right. They should cut our payroll taxes because they're taking our money and giving it to Kenny Lay, et al.

The GOP is a bunch of crooks, and the people who think they represent morality are fools.

Point me to the Bastille. Get out the torches and pitchforks. This country desperately needs a revolution.
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