December 9, 2004

The New York Times > AP > National > Bush Rules Out Payroll Tax Hike for Social Security

Oops...I don't think the Times really means what it says in the 'graph below!!

"Social Security today collects more in taxes than it pays out in benefits. The extra money is used to buy Treasury bonds from the government. The government then spends the money as part of its general revenue. The system will start paying out more in taxes than it collects in benefits in 2018."

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