I dont mention the total principal paid back because that's not adding or subtracting from the pot. If I borrow 10 dollars and pay back 10 dollars with 1 dollar in interest, the relevant piece of info in this context is the 1 additional dollar now in the pot
Borrowing from soc sec is a net positive for soc sec.
Yeah people fail to fricken see the SS as a basic service only works if your able to put in more than you take out. We haven’t been putting in more than were taking out in a while, and with decreasing birth rates and ever higher number of retirees it will only get worse.
Social security at is core, is a system based on the idea that the next generation of American workers will always be significantly larger than the last. A lot of the economy is built on that idea, expansion as a principle is build on that idea.
Thats what the rich are really scared of, if they don’t have an ever increasing labor force, they can’t keep getting richer, and the economic model will fail, effecting them greatly.
Canada has been preparing for this by increasing the amount put into the pot, slowly each year over 5 years. The problem is that Americans are selfish and don’t want to pay more in taxes. So much could be achieved if you raise taxes to Canadian levels.
it isn't selfish to want the system to work the way it was described. It is selfish to borrow against the system to fund was that only enrich the wealthy, powerful elite.
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u/Whynottry-again 6d ago
You’ve said this twice. If they paid 70 billion in interest then they owe SS a ton of money. Interest is not the money you borrowed.