"Bill McKee" wrote in message
link.net...

"DSK" wrote in message
...
I will detail how the government spends the SS tax money because you
aren't smart enough to figure it out yourself.

1) The government extracts 15% of my income and puts it into the "Social
Security Trust Fund".

Bull****. SS taxes are nowhere near that high. Why do you have to lie to
try and make a point?

2) The government takes my 15% and gives the "Social Security Trust
Fund" an IOU in the form of a Treasury Note or Bond.

Uh huh. So a Treasury bond is just "an IOU"? I guess a $20 bill is just a
green piece of paper?


3) My 15% is now in the general account of the government.

No more than your neighbors mortgage payment is in your checking account
if you use the same bank.

4) The government blah blah blah (snipped)



John H wrote:
That last statement isn't quite fair. DSK is one of a kind.

Not really. The group that I belong to is called "smart people who have
boats." We prefer facts to illogic & bull****.

DSK


How much is the Social Security tax (FICA)?

FICA taxes are about 12.5%....half of it is deducted from your paycheck, the
other half is paid 'directly' by the employer. This is done to hide the true
cost from simpletons like dsk. That rate is taxed on the first 90k or so
earned....they up it every year. There is also a 2.5% (approx.) medicare
tax, again half is taxen out of your check, the other half directly form the
employer.....there is no cap on that tax. The dirty little secret is
that all of the tax is paid by the employee......the cost to the employer is
figured into the cost of hiring someone........it is just hidden from the
simpletons.

The 'trust' fund is a whole different story. It is like having a savings
account at the bank......You've put in $1000. You are overspending so you
go to the bank, withdraw the money and spend it......but to make yourself
feel better, you write an IOU to yourself to but the money back into the
account. The only way you can ever do that is to eventually reduce your
spending (in the guvmints case....reduce benefits) or increase your income
(in the guvmints case....increase taxes) DSK's lunacy of the treasury bonds
being worth anything is simply silly.