Do Social Security benefits really contribute to the national deficit?
April 21st, 2011|
April 21, 2011
Whether or not Social Security benefits contribute to national debt has been a big debate.
According to huffingtonpost.com, eventually all the money the system has loaned to the federal government will be exhausted and the system will be broke, and that’s the reason why Social Security benefits are adding to the national deficit.
The article also claims that FICA taxes paid by workers for the last 25 years has reduced the annual deficits by more than $2 trillion. It suggests that more than 100 million people would have to stop paying FICA taxes in order for Social Security benefits to run out of funds.
What is your opinion of the national deficit? Do you think Social Security benefits contribute to the national deficit?
If you need help getting the Social Security benefits you deserve to get your life back on track, the Social Security lawyers at Fleschner, Stark, Tanoos & Newlin can help.