Word On The Street
Thoughts & Opinions from My Personal Perspective
Exclusive to WCBM AM 680, Baltimore, MD
Submitted by Steve Smith, Contributing Columnist
Not necessarily the opinions of WCBM 680 or WCBM.COM
(but they should be!)
October 24, 2017 — Ferndale, MD
President Trump Has Issues With Social Security
According to a report on MSN, the Social Security Trust Fund is in dire straights. Read more here: http://www.msn.com/en-us/money/markets/trumps-shiny-tax-cut-plan-has-a-dollar15-trillion-problem/ar-AAtX4YM?li=BBnb7Kz
Per the report on MSN, the Social Security Trust Fund is insolvent. That is to say, it has no money to pay workers their just due.
Make no mistake — monies withheld from workers paychecks were designated to this fund. It is THEIR money that fed the system, it is THEIR money that they are entitled to, and THEIR money that the government withheld and put into a trust fund to be distributed upon retirement.
Over the years, our government has used this ‘slush fund’ to support various spending, taking from the American taxpayers their rightly earned retirement income. It is an entitlement, it is their just due, dollars that have been withheld from them over their working lives, and now must be repaid,
Now, President Trump is faced with the dilemma of paying back the American taxpayers, or to allow the continued raiding of these Social Security funds.
It’s a no-win situation. A long term practice of sucking out of the Social Security Administration Trust Fund to finance the continuing operations of the government, or to put a halt to the far-reaching practice. What to do?
I suggest that we put a halt to any use of the Social Security Trust Fund to finance government spending, and put to use the monies deposited for the furtherance of our seniors who have paid into the Fund for all their working lives.
As far as seniors are concerned, this is THEIR money that was withheld all their working lives.
We should not have to choose between a budget deficit and stealing from Seniors.
Best case scenario — live within our budget, spend only what we can afford to, borrow only what we can afford to pay back, and God forbid if a war erupts then take all reasonable actions that will end the war with us the victor.
It’s simple…. Each American will live within their budget, not spending more that can reasonably be expected to be repaid. Lenders recognize this simple fact. Can America be any different?
Our government MUST adhere to the same principles.
I call on President Trump to block any funding from the Social Security Administration to the General Fund, or to utilize any potential funding of our government based on a loan from Social Security.
We, as Americans, can wipe out all past transgressions and move forward to a better and brighter future. Only Congress is standing in our way.
Mr. President, do the right thing… cut off reliance of the Social Security Trust Fund and force us to stand alone, based on normal income from taxes. No other option is viable. Cut corporate taxes, cut the top income tax, but do not rely on income from Social Security. Our future depends on you decision.
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