A recent view letter was a shortened version of a widely circulated email regarding Social Security. In the example, a person paid $220,500 in Social Security taxes during their working years. This money did not go into an IRA in their name. It did not go into their "government bank account" that would grow and be paid to them after 40 years of work. It went to pay the people who were retired. Current retirees are being paid mainly from the Social Security taxes of current workers. If Social Security were like an IRA account, the first check for the program developed in the 1930s would not have gone out until the late 1970s. The system worked fine when there were few retirees. The flaw in the system has been exposed by our aging population and the rapidly growing number of retirees. It was pointed out that many die before collecting any benefits. However it is a better bet that more will live and collect beyond their break-even point. The money going out has to be decreased and/or the money coming in must be increased. The math is easy. Politics make it hard.