The Rand Paul-Lindsey Graham-Mike Lee Plan to Steal Social Security

Look at your (old) pay stubs. See all that money you've been paying in for retirement? Well, REPUBLICANS WANT TO STEAL THAT MONEY.

The Rand Paul-Lindsey Graham-Mike Lee Plan to Steal Social Security by Nancy Altman, OurFurture.org

Many Americans believe that their Social Security contributions have been stolen, diverted to some unauthorized purpose.  They are wrong – at least for now.   Last Wednesday, Senators Lindsey Graham, R-S.C.; Mike Lee, R-Utah; and Rand Paul, R-Ky., proposed to do just that—steal our money.

Their Social Security Solvency and Sustainability Act slashes benefits drastically but continues to require workers to pay the same level of contributions specified under current law.  Workers’ paystubs would continue to show that they were contributing to Social Security, but that would be only partly true.  Workers would be contributing $6.2 trillion more than what would be needed.

Graham, Lee, and Paul propose to “borrow” those excess contributions, all $6.2 trillion worth, the way a school yard bully borrows–with no intention ever of repaying the money.  Like school yard bullies, the three senators even bragged about the fraud.  Their press release announcing their proposal describes “what the plan accomplishes,” and lists as the very first accomplishment, “Reduces debt held by the public by $6.2 trillion by 2085.”  How can they reduce the debt held by the public?  By “borrowing” $6.2 trillion from Social Security’s trust funds with no intention of ever paying as much as a penny back.

Given the outrageousness of the fraud that the senators propose perpetrating on America’s workers, it seems almost beside the point to describe how exactly these three senators propose slashing benefits, but for purposes of completeness, here is a detailed fact sheet.

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