General Discussion
In reply to the discussion: So, just how much money are those lazy seniors getting from their Social Security? [View all]Cleita
(75,480 posts)contributions, that 15% taken from wages, put into private accounts instead of the trust fund. Once the money starts being diverted into Wall Street, the trust fund will be emptied out by current beneficiaries, so this is why they want to make it less and less every year for recipients. They know this will destroy the trust fund and then all that FICA tax money will go into their gambling den. This has been tried in Great Britain, Chile and a few other countries and has failed miserably. The pensioners found themselves with nothing in their so called individual retirement funds and the countries involved have had to step in and provide emergency measures to take care of them, which taxpayers also have to pay for. This is the only fund that is left to be raided by the Wall Street banksters.