Saturday, December 4, 2010

Social security fraud by whom?

MSNBC recently reported about the widespread misuse of social security numbers.  Our "unique" identifier.  According to research done by a large credit services bureau, they determined 1 in 7 Americans have had their SSN used by someone else.  (http://redtape.msnbc.com/2010/12/odds-someone-else-has-your-ssn-one-in-7.html)

Something the article doesn't discuss is, what happens to the social security taxes paid on those misused SSNs? 

Basically, it goes to the government as "unclaimed taxes".  Just think about how much money that is every year that employees AND employers pay into the social security fund that will go unclaimed.

If I've figured that out, you can't tell me the government hasn't figured it out as well.  So, just what ARE they doing with that extra money?

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