The beauty of this Socialist Security scheme (scam) is that the government has been able to pull it off for so many years. Most people don’t actually know how it works.
Earlier, I asked you to take a look at your payroll deductions. I will focus on one item that appears on nearly everyone’s paystub: the FICA deduction. Take that amount and double it. That total equals the amount taken from your total earnings by force. (Half shows up on your paystub. Half shows up on the employer’s books.)
If you think “by force” sounds a little strong, consider two things. First, nowhere on your employment forms do you have an opportunity to check a box that says, “No, I don’t think I want that.” Second, if, after deducting money from your earnings, your employer fails to remit that money to the government, officials of government will shut down the business and sell all its assets. Sorry, you’re out of a job.
Aside from the idea of the use of force to take your money, the government tells you that it’s still your money. The government will keep it safe for you until you retire.
The government doesn’t really keep “your money” safe, nor invest it wisely. Yes, they put your name on a ledger, along with the amounts they have taken from you. From that list, they can calculate how much money they will give you when you retire. (By the way, they decide when you can retire; not you.)
So what did they do with the money taken from you (by force)?
They give it to someone else.
Oh no, contrary to what they have told you, they do not put that money in a special account just for you.
They use two ways to give that money (not your money) to others. First, they pay current Social Security recipients — thank you very much. Second, they use the money to fund part of the federal deficit — i.e., they loan it to themselves (the government.)
So, what happens to your money? From where will your Social Security payments come when you retire?
They will come from others paying FICA taxes while they are working. Those workers act as the base of the pyramid scheme that has been going on for roughly 90 years.
Next, I will describe that pyramid and how it could collapse soon.