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The myth of the Social Security trust fund

JULY 19, 2017 | FOUNDATION FOR ECONOMIC EDUCATION

By John Attarian, from 2000, includes “… All this confirms the observations by Suffolk University Law School Professor Charles Rounds, a fellow of the American College of Trust and Estate Counsel: “Despite the term “trust,” the Social Security system contains nothing that remotely resembles the common law trust. There is no segregation of assets, no equitable property rights, no private right of enforcement (all characteristics of the common law trust). It is merely a system of taxation and appropriation sprinkled with trust terms to hide its true nature.” …”

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