Does Social Security get money from any other sources?

Answer 1

No. As originally set up, Social Security payments to retirees and dependents each year are funded from the payroll contributions collected that year. If contributions exceed payout, the excess amount was to be given to the General fund of government revenue.

Since the baby boomers started working, a HUGE surplus has been siphoned off. Laws were changed about a decade ago to create a 'lock-box' to keep that money for the eventual surge of boomer collections that the smaller generation behind them cannot support.

Unfortunately, the supposed "lock-box" was invested in US Government debt. So, in order to pay Social Security back, the next generation will have to redeem the government debt via huge tax increases...not any better than paying huge SS payroll contributions.

Social Security could have kept afloat. The US could have kept solvent. This problem will not get corrected until the total BS about what Social Security is supposed to be (a safety net of govt. guaranteed income for the elderly) and what happened to it (it was robbed by elected officials too deceptive to raise taxes for that the chose to spend govt money on) gets out into daylight.

All the BS about 'investment accounts' is just a smokescreen to keep the truth from being seen.

Answer 2

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If the U.S government operates like it is supposed to, Social Security should have a division of investments. As of now the government is making special appropriations to fund SSI. its downfall will be near. but when there is sufficient funds to invest, it generally invests into foreign currency's as that market fluctuates daily,currency is good bet for the investor, being informed of activities in that country the investor can invest on a hunch that the cash invested into that arena will go down. A bunch of bucks are earned at the closing bell on Wall street. then the next day it may make the same investment or try something other than. When I worked for the Great State of Alaska as a Corporate tax examiner, I sat just over the cubical from a lead investor. At the end of each day If I did not hear a victory scream, I would know that it was good investment or not. I digress.
If it did not invest or get themuch needed appropriations, the SSI system would have went belly up long ago . A couple of major problems are special and secretive projects that takes and takes without the any knowledge by congress. as well as SSI cheaters. illegal immigrants who get benefits not earned(a travesty) I have paid into SSI and have a no confidence vote on that system.
I would really like to have my cash invested into
ssi now(non-taxable) before its downfall so I can invest where ever and however I want too.