The truth not be told🙄

Why do people find it necessary to circulate misinformation? Is it out of ignorance or is it malicious? Why do Americans accept without verifying?

4 comments

  1. That statement makes about much sense as “I want reparations for all the money people took out of my bank for mortgages and car loans.”

    It just goes to show the failings of our education system. People do not understand basic financial principles but know for a fact that there are 130 gender choices in San Francisco’s Guaranteed Income program for transgender people. I always thought there was only 2 genders, maybe 3 ( its ), but maybe that is why I am financially secure and don’t understand this gender thing.

    I propose paying those people EXACTLY the amount that they paid into the trust fund and not a penny more with no interest since they don’t think the government should have invested the trust fund money.

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  2. The idea that “the Congress” or the “President” spent the Social Security funds is a partial understanding of the trust fund. People have believed this before social media and repeated it verbally to others.
    The fund is money loaned. over to the treasury to do as they would with any money they borrowed. It was spent over the years. Same is I bonds, EE bonds and treasuries of all description. There is a promise to hand over money at maturity but only a promise. The social security trust fund is just another creditor in line. The US government is in much weaker condition now because of the increased borrowing over the years and apparently is willing to get even weaker because the borrowing increases annually. As said earlier, it is a conundrum.

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  3. Mostly ignorance, but, to be fair, it is complicated. Congress did borrow the money, didn’t it? Isn’t that what a bond is? And if they borrowed it, they must have “used it” for something.*

    Combine that with the principle that SS is not “just” a retirement plan but also has insurance features, it’s even more complicated.

    I’m still unclear, as I thought it was also a wealth/earnings redistribution program due to the progressive benefits, but learn lately that there is little, if any transfer from higher income to lower income workers.

    This is why we are in the state we are.

    *Yes, they will give it back, with interest. Or “we” will pay it back. It’s a conundrum.

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    1. Well, there is the benefit formula that favors lower income workers, then there is the income tax on benefits which goes to funding both SS and Medicare. I think we are in the state we are because nobody wants to pay for all the goodies they want and too many politicians are willing to promote that idea or that only the “wealthy” need to foot the bill.

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