Comments by "wvu05" (@wvu05) on "Trump's War On GOP's Social Security Plan Traps Gaetz" video.

  1. ​ @recklart8592  Actually, hundreds of billions, if not trillions, have been repaid. Remember about ten years ago when the Chicken Little crowd insisted that we were headed for catastrophe because the SSTF took in less than it paid out? That was because some of the Treasury bonds were redeemed in order to make Social Security payments. When Social Security was established, it had two rules that made it different from all other government spending: 1) it had to be paid for by separate funds from Social Security payroll taxes, and 2) the money would be kept in a fund separate from the general fund. Whether you agree with the basic mechanism or not, the rule changes with the Greenspan Commission worked as intended (except they underestimated wealth concentration since 1983, which meant that instead of 90% of all earned income being subject to the tax, it's closer to 82% now, which would have made it fully solvent until 2063 if that were still the case), because the idea was to take in way more than needed at the time when there were far more workers to retirees, and use that money to weather the storm as that ratio shrinks and the baby boomers start to collect.
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