Government Waste
Social Security Ripoff (Continued):
2. Ida Fuller, the first Social Security recipient, retired in 1940 after paying a total of $44 in taxes. By the time she died in 1975, she had received nearly $21,000 in benefits.
3. The Social Security System is bankrupt. It currently has $400+ billion in Treasury General Fund IOUs. A Court decision dating back to 1937 has established that Treasury debts to a government trust fund need not be honored.