Do you know where your taxes for Social Security benefits go?

by Staff | April 29th, 2011

April 29, 2011

A letter to the editor on says the government isn’t using payroll taxes to build the funds for retirement or Social Security benefits, but rather, used to sustain the national budget.

In the letter, it says that the fund for o Social Security benefits has been borrowed against, and upon receipt of payroll taxes that fund Social Security benefits, the Treasury converts them to “special issue Treasury bonds.”

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Is there something you don’t understand about how the funds for Social Security benefits are collected? Do you understand where your taxes go?

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.

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