Allen W. Smith, Ph.D.

The Trust Fund Money Has Already Been Spent

By on April 21, 2014 in News, Retirement with 78 Comments

The money in the Social Security trust fund is gone. The author offers some details about why this is the case and says that Social Security can still be a good program if the money were to be replaced.

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Ronald Reagan and The Great Social Security Heist

By on October 11, 2013 in News, Retirement with 360 Comments

The author says that the Social Security amendments passed under Reagan’s presidency laid the foundation for 30 years of federal embezzlement of the Social Security trust funds.

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Santa Claus, the Trust Fund and the Tooth Fairy

By on July 16, 2013 in News, Retirement with 65 Comments

What do Santa Claus, the Social Security Trust Fund and the Tooth Fairy have in common? According to the author, they are all myths. He explains why the Social Security trust fund does not exist.

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Government Owes $2.7 Trillion to Social Security

By on May 23, 2013 in News, Retirement with 86 Comments

The author says that the government has embezzled all surplus Social Security revenue, generated by the 1983 payroll tax hike, and spent the money on wars and other government programs.

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Was the Misuse of Social Security Money Pre-planned?

By on January 21, 2013 in News, Retirement with 98 Comments

The author says that it appears that President Reagan put Social Security on a premature path to insolvency through a payroll tax hike in the early 1980s and offers an analysis of why he believes this happened.

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Social Security's Day of Reckoning Has Come

By on October 19, 2012 in News, Retirement with 78 Comments

The author says that the purpose of the 1983 payroll tax hike was to generate Social Security surpluses for the next 30 years, but instead of following that plan, the government spent the money out of the general fund, thus using up the revenues on other government programs.

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Government Should Level With Public About Social Security Trust Fund

By on September 21, 2012 in News, Retirement with 54 Comments

The author says that the Social Security Trust fund is empty and has been for the past 30 years, but the public has been deliberately mislead to believe that the funds are still in place.

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Cash Flow Imbalance: Social Security's Dirty Little Secret

By on August 17, 2012 in News with 89 Comments

The author says that the debate over funding Social Security is focused on the wrong problem and that the real problem is that the government has spent all of the trust fund holdings, starving the program of all its surplus monies.

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The Social Security Money Is Not Invested In Bonds Like China Holds

By on June 22, 2012 in News, Retirement with 57 Comments

The author says that the Social Security trust fund does not contain any marketable bonds and that all surplus revenue has been spent.

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Why Social Security Cannot Pay Full Benefits Until 2033

By on May 25, 2012 in News, Retirement with 134 Comments

The author says that claims about Social Security’s ability to pay benefits continue to be made but that they are not true. He offers a breakdown of the program’s financial status.

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