When I read something like this I cringe. I wonder why papers publish such letters. Everyone is entitled to their opinion, but not their own facts.
Editor, the Advocate:
What happened to our Social Security? Years ago, after it was started for retirement and benefits for other qualified members, the walls of the banks were bulging out with so much money they were about to burst.
Our great leaders, who we elect, saw this. So, they decided to borrow from it, leaving I.O.U.s. Then they decided they could run it better, so they took charge of it. Now they want to tax us on money we already paid taxes on. This would be double taxation.
How long are we Americans going to put up with this? Wake up America.
Source: Letter: What happened to our Social Security? | Opinion | victoriaadvocate.com
There is nothing in the above that is accurate. Social Security has been funded the same way since day one. Excess revenue to the trust has always been invested in treasury bonds. Government agencies always ran the program. Taxes used to fund SS are unrelated to the benefits received and benefits for most beneficiaries far exceed any taxes paid during working years.