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A comment on Americans Are Putting Billions More Than Usual in Their 401(k)s. Parent comment

Re:Americans Are Putting Billions More Than Usual in Their 4... by readams on Thursday January 05, 2017 @02:50PM (#13330707)
The trust fund is an accounting fiction.

Social Security is paid out entirely by proceeds from people paying into the system. If ever the number of new people paying in is not enough to cover the outflows, then the system collapses. That is how a Ponzi scheme works.

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Re:Americans Are Putting Billions More Than Usual in Their 4... by vkou on Thursday January 05, 2017 @03:54PM (#13331296)
Or, the inflows are increased, or the outflows are decreased. All of which can be done with a stroke of a pen.

If, for instance, we get rid of the contribution cap tomorrow, Social Security becomes 100% funded - in perpetuity.

Madoff was in no position to do so. Congress is.

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Re:Americans Are Putting Billions More Than Usual in Their 4... by jessaustin on Thursday January 05, 2017 @05:56PM (#13332241)
Mercedes dealers and developers of luxury apartments in Singapore, London, etc. would love this.
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