Anatomy of a Scam

"After Social Security numbers were assigned, the first Federal Insurance Contributions Act (FICA) taxes were collected, beginning in January 1937. Special Trust Funds were created for these dedicated revenues. Benefits were then paid from the money in the Social Security Trust Funds. Over the years, more than $4.5 trillion has been paid into the Trust Funds, and more than $4.1 trillion has been paid out in benefits. The remainder is currently on reserve in the Trust Funds and will be used to pay future benefits."

Thanks to Billmon
For a Brief History of Social Security see here.