This is why they are fighting so hard to not have to pay you what you yourself put into Social Security! This is why there might just be a 'shortfall' ... How else were they going to pay for the Wars they never funded with any taxes.
I hope this is understandable, it is taken from a local Letter-to-Editor. The writer explains how these facts and numbers are taken from a report the Republicans themselves ordered! ...and the "Republicans won't like this report."
So in the following, quotes are from the Republican Joint Economic Committee report titled "Social Security Surpluses: Fiscal Fact or Accounting Fiction?"
To begin, you need to remember that the deduction for SocSec payroll tax (FICA) is split 50/50 between you, the worker, and your employer. (But, in actuality, the employer's share is ultimately passed on to you workers easily in the form of lower wages.)
Workers pay FICA taxes for one purpose, their retirement, to be returned to them as Social Security.
BUT "When individuals pay in Social Security payroll taxes, the money goes into the General Fund of the Treasury along with all other taxes."
This gives the GOP, e.g. party-backed by-the-rich, access to our middle class retirement funds.
"When Social Security has a cash-flow surplus (when more is coming in that being paid out) Social Security taxes are 'available' to pay for other programs."
The Republican report says: "Treasury should have $6.5 trillion in surplus FICA taxes but has only $2.6 trillion." This deficit exists because Republicans borrowed trillions in FICA taxes to offset tax cuts for the rich, and fund Bush's unnecessary wars.
Your Social Security Fund is owed this money back by its borrowers, the Republicans. We middle class are left holding an IOU, eg U.S. debt, the mega-rich got your money and spent it.
It is the writer's feeling, and I agree, Republicans loath Social Security, forgetting it is your money not theirs. They ignore their own misuse of $4 trillions in FICA taxes while calling Social Security an "unfunded claim." They oppose raising any taxes to repay our Social Security because "having the authority to pay benefits is not the same as having the money to pay benefits."
Only one thing stopped the Romney-Republicans from completely bankrupting your Social Security: The re-election of President Obama.
Now lets get to work and get rid of more of these Republicans so we can get our own money back in Social Security! Please share this, especially, with seniors and others nearing retirment.