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The amount owed to SS is really just an accounting artifact. SS works by promising future taxpayers will fund today's taxpayers' retirement benefits. The fact
by jsprogrammer 11y ago
The amount owed to SS is really just an accounting artifact.
SS works by promising future taxpayers will fund today's taxpayers' retirement benefits. The fact that all of the "saved" money was actually "loaned" back out to the taxpayer (while current taxes fund current beneficiaries) is a perfect demonstration of this facet of SS's internal workings.