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The income tax on social security was one of a package of reforms designed to prevent a shortfall in Social Security. The money goes right back to Social Security, helping to pay current benefits.

scott daGHOSTtino

@scottdagostino.ca

fedsmith.comRonald Reagan And The Great Social Security Heist | FedSmith.comThe author says that the Social Security amendments passed under Reagan's presidency laid the foundation for 30 years of embezzlement of the trust funds.

That’s a good story.

That article is absolutely false. The money WAS invested in Treasury bonds, as required by law since 1937. Nothing changed in 1983 in that regard. And the principal on the bonds has already been repaid when the bonds mature or are redeemed by Social Security (just like all Treasury bonds).

The bonds have generated hundreds of billions of dollars in interest for Social Security.