Show FINANCIAL HOCUS from the now new york times during the first four mouths months of the current fiscal year tho the govern meat of the united states has baa collected in social security taxes it anybody imagines Imag lrea that this money liaa hwa been set aside un der dar lock and key in a special reserve fund which will accumulate interest over a period ol of years and enable the government ultimately to pay the benefits which the social security act requires his faith la Is based upon a misconception of facts the lura haa all been spent tor for a variety of purposes t pornapa to help build grand coulee dam perhaps tofi to finance nanco projects in street paving perhaps to pay the salaries of officers I 1 in n tho the navy VY no one knows prec ialy since the dollars that come into ali the treasury are not so BO earmarked that they can be identified when they go 90 out oui again As for the reserve fund which Is supposed to supply tho the money needed in future years for the payment of benefits under tho the social security act it consists at present only the government 1 I 0 U Ps s certain conclusions are Ines capal ble one is tho the fact that what tho th 0 government has actually done has been to invent a now new kind kindol kin dof of corporation po ration tax and a now new kind of 0 personal income tax applied in tile the ca case of individuals even to the smallest incomes equally clear Is the fact that this system Is a constant temptation to government extravagance trava gance ganoe |