Cash me out now

I linked to Tim Penny's editorial on the Social Security crisis earlier. Now someone comments in a letter to the editor:

Tim Penny argues that the Social Security trust fund is simply an IOU from one part of government to another.

If Republicans truly believe this, then I want a refund of all the money I've been paying into the trust fund for the past 22 years, and I want to stop paying into it right now.

Joy Jacques, Cannon Falls, Minn.

I want a refund of my money too, and start putting it in a private account where I won't have to pay for it again later.

For extra credit, read the other letter to the editor on the page with the analogy to the trust fund being like a bank. It's true. But the difference between a bank and a Treasury bond that the Social Security surplus is banked into is where the money comes from when I make a withdrawal. The bank invests my savings in private sectors and it gains a return and the bank gives me my money and interest back. The government, when it needs to pay back bonds, it just taxes Americans workers, and then uses that to pay it's bonds.

I'm sure you can see the difference. It's time to invest the Social Security into the private sector where it will increase value, rather then have the government put it in trust funds so that we will have to be taxed again on it when the surplus needs to be used.

Remember, the government never defaults on loans. They repay them through increased taxes on us, working Americans.