Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Federal gov't to withdraw funds from your retirement account
The linked article is sooo wrong. First, social security is NOT your personal account. Never has been a personal account, that is your IRA.
The money was never saved, and no one ever said it would be saved. The money you have put in with payroll taxes has already been spent on current social security recipients.
Second, the Social Security "Trust Fund" can only invest in one thing, special bonds from the Treasury that cannot be sold to anyone other than the treasury. So when those bonds have to be redeemed, the treasury has to pay for them via the Federal government with increased taxes, decreased spending or increased borrowing.