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Wilson County News • 1012 C St • Floresville • TX • 78114 • Ph: 830-216-4519 • Fax: 830-393-3219 • Email:
Tuesday, May 21, 2013
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PRAIRIE GROUCH  
GRAND PRAIRIE TX  
December 20, 2012 7:58am
 		 Ex Tiger......There is no so called "lock box". This
notion of a social security box of cash was just an
Al Gore hoax and political stunt. Social Security
taxes are invested in a special issue type of US treasury
bond and form a part of the US national debt. Interest is paid on these bonds. The chickens
will come home to roost when the US Treasury is forced
to start redeeming these bonds to fund benefits when
SS taxes become insufficient to do so. Some of this
has already happened in 2010 and 2011 in a small way.
The SS taxes not necessary to fund benefits are used
by the government and secured by a treasury bond.
Inter governmental debt forms a large part of our
national debt.
I agree that all US citizens receiving income should
pay taxes. Prior to the Earned Income Tax Credit and
the Child Tax Credit, most employed citizens paid some
income tax. I always paid income taxes during my working
years on wages comparable to those who pay no taxes today.
By the way, gasoline in Texas is below three dollars.
Happy driving. :}
     
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