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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe SS Trust Fund has FINANCED $2.7 trillion of the total ($16.8 trillion) national debt. It is the
...most fiscally responsible of all government programs in the history of our nation. It purchase of Treasury Bonds has allowed the general fund of the Treasury to be financed simultaneous with the slashing of income tax rates for corporations and the 1% to historically low, unsustainable levels.
But those that have been given a windfall (in the form of historically low income tax rates) don't want the Trust Fund to be used to fund the earned benefits of those whose payroll taxes made it all possible.
Social Security is the SOLUTION, not the problem.
And a few of those who, in the course of funding their own earned benefits, coincidentally FINANCED the deficits caused by cutting tax rates for the 1%:
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The SS Trust Fund has FINANCED $2.7 trillion of the total ($16.8 trillion) national debt. It is the (Original Post)
Faryn Balyncd
Apr 2013
OP
Rex
(65,616 posts)1. HELL YES!
avaistheone1
(14,626 posts)2. Franklin D. Roosevelt
The greatest American president of all time. I am reminded particularly today of his courage and his legacy. and it becomes more evident and true with every passing day.
mojowork_n
(2,354 posts)3. 2.7 trillion is spare-change-found-between-the-couch-cushions...
Compared to what's in off-shore, tax-free accounts.
At least according to this link, and the report that's cited in it:
http://www.counterpunch.org/2013/04/08/audit-the-rich/
There can not be any justification for budget cutting while wealthy criminals, corrupt politicians and business executives are hiding what reportedly totals between $29 trillion and $32 trillion in offshore tax havens.
A massive data dump by the Washington-based International Consortium of Investigative Journalists (ICIJ), working in conjunction with dozens of news organizations around the globe, has exposed the secret files of over 120,000 dummy offshore companies that have been used for years to hide the wealth much of it ill-gotten, all of it tax-dodged of the worlds rich and mega-rich.
Before we go further, lets think about those numbers, which are really mind-boggling.
The US annual federal budget for 2012 was $3.7 trillion. The total US economy, largest in the world by far, was $15.8 trillion in 2012. That federal budget deficit that we hear so much about, which is growing by $1 trillion a year, totals about $16 trillion.
A massive data dump by the Washington-based International Consortium of Investigative Journalists (ICIJ), working in conjunction with dozens of news organizations around the globe, has exposed the secret files of over 120,000 dummy offshore companies that have been used for years to hide the wealth much of it ill-gotten, all of it tax-dodged of the worlds rich and mega-rich.
Before we go further, lets think about those numbers, which are really mind-boggling.
The US annual federal budget for 2012 was $3.7 trillion. The total US economy, largest in the world by far, was $15.8 trillion in 2012. That federal budget deficit that we hear so much about, which is growing by $1 trillion a year, totals about $16 trillion.
....The off-the-books (shady, sketchy, insert-adjective-here) bank accounts all total to a figure that's approximately equal to the economies of the United States and Japan. Combined.