Han wrote:
Doug Winterburn wrote in news:zksBk.16947
:

It ain't just corporate America - our lawmakers have devised a scheme
whereby they have run up over $4 trillion of debt called "trust funds"
that they claim are assets. Same accounting deceitful practices used by
Enron. Been going on since FDR.



I don't think it was ever a trust fund in the sense of being set aside for
the future. That's just ostrich mentality. All it ever was was a way to
fund retirements from current workers' income taxes.

If by that you mean the future taxpayers that will have to pay increased
income taxes to pay off the debt that the trust funds contain as a
result of spending the excess FICA taxes today, you are correct - dual
taxation.

And now FICA taxes hould be leveled on ALL income, earned and unearned, so
the fat cats pay a little more of the War costs. Although it would mean I
would pay more taxes too.

That will result in running up debt at a faster rate as every excess SS
dollar that goes into the "trust fund" is a dollar of debt with
interest. When the funds need to redeem those debt bonds, future
taxpayers will have to bail out the funds.