- $2.7 TRILLION in Social Security taxes paid has been spent by the Federal Government instead of being held in trust to fund the benefits promised to the American workers.
- This, then, creates a $2.7 trillion debt to those workers.
- If Social Security is privatized, the debt would instead be owed to the ruling class. In other words, taxpayers would have to pay additional taxes to repay that debt to the investors who snap up the Social Security “trust” fund.
- Future Social Security ‘taxes’ would then be invested in the unregulated, boom and bust financial industry. With every bust, worker’s retirements would be wiped out, to the benefit of the ruling class.
Thus the ruling class has $2.7 trillion reasons for privatizing Social Security.