Why should trust funds (like the EPA superfund, or Social Security be ruled by documents more...

Why should trust funds (like the EPA superfund, or Social Security be ruled by documents more than governments? Whose money is it?

Expert Solution

A testamentary trust is created by a will and arises after the death of the settlor. An inter vivos trust is created during the settlor's lifetime by a trust instrument. A trust may be revocable or irrevocable; in the United States, a trust is presumed to be irrevocable unless the instrument or will creating it states it is revocable, except in California, Oklahoma and Texas, in which trusts are presumed to be revocable until the instrument or will creating them states they are irrevocable. An irrevocable trust can be "broken" (revoked) only by a judicial proceeding. Present law mandates that the two Social Security Trust Funds, and the operations of the Postal Service, are formally considered to be "off-budget" and no longer part of the unified federal budget.

The assets in the Social Security trust funds consists of Treasury securities, this money is collected as taxes under the Social Security payroll tax.

ekkarill92 answered 2 years ago

Pertaining to the social security trust fund: is it solvent, growing, how are funds invested.

List four policy changes that would make the Social Security Trust Fund more solvent.

a. The Social Security system is predicted to be on a course to exhaust its trust...

a. The Social Security system is predicted to be on a course to exhaust its trust fund. What is the primary cause of this? (And don’t say that revenues are less than expenses. Explain why this is the case. b. Cite at least two potential solutions from class or the text to the problem of social security running out of funds and the difficulties of implementing each of these solutions

a) Why might the U.S. government, which funds Social Security, Medicare, and unemployment insurance programs by...

a) Why might the U.S. government, which funds Social Security, Medicare, and unemployment insurance programs by taxing wages, desire to find a way to reduce self-employment and inhibit the growth of the gig economy? b) Do you see the growth of the gig economy as a positive or negative trend in the economy? Explain. 1. In the first part, be sure to describe how these programs are funded to help support your position. 2. In the second part, briefly discuss...

Will social security exist in 45 years? Why or why not? Describe how Social Security has...

Will social security exist in 45 years? Why or why not? Describe how Social Security has been one of the three legs of retirement planning.

What happens to social security funds once they are paid into the system?

Why might the US government, which funds social security, medicare and unemployment insurance programs by taxing...

Why might the US government, which funds social security, medicare and unemployment insurance programs by taxing wages, desire to find a way to reduce self-employment and inhibit the growth of the gig economy?

Describe the Social Security trust fund and how much it does or doesn’t resemble a fund...

Describe the Social Security trust fund and how much it does or doesn’t resemble a fund one might find in a private retirement system.

Trust Tax Return GENERAL INFORMATION Missy Brown (Social Security number 123-45-6789), beneficiary for the Brown Trust...

Trust Tax Return GENERAL INFORMATION Missy Brown (Social Security number 123-45-6789), beneficiary for the Brown Trust set up by her father on April 1, 2008, lives at 545 Oak Avenue in Lexington, NC 27292. The trust and Missy both have a calendar year. Under the terms of the trust instrument, the fiduciary’s fees are allocated to income, and the trustee must distribute all of the entity’s accounting income to Missy Brown by February 15 of the following year. The trustee...

Should educational institutions introcuced more courses on social services or mental health ? Why/why not? Please...

Should educational institutions introcuced more courses on social services or mental health ? Why/why not? Please be comprehensive

Question