Posted on 01/08/2015 8:42:01 AM PST by drypowder
When is a Conservative group in Congress going to start making a fuss about this “general fund” deposit of all Medicare and SS taxes ..??
Al Gore’s father and HIS cronies in the DEMOCRAT party, moved the taxes into the GENERAL FUND years ago .. so that is the reason it’s been LOOTED .. and now may soon deprive many seniors from living an independent lifestyle.
This is what the dems want .. more people dependent on them. It will be pick and choose who gets what amount - no matter how much you put in. THIS IS WHOLESALE THEFT ..!!!
If I were younger, I would stop having funds deducted for SS and/or Medicare .. and start funding it myself. I’m really angry at myself for not thinking of this sooner.
Did you really believe that 'lockbox' stuff?
Really??
Just guessing, but perhaps the government funds used for food do not reflect lower negotiated prices. I think drugs do reflect lower negotiated prices. Rewards are tied to pricing (nothing is truly free) so they are affected by different pricing structures.
The SS DI Trust Fund is exhausted in 2016. As has been done 11 times before, T-bills will be transferred from the main SSTF to the DI Trust Fund. SS has been running in the red since 2010 and will continue to do so until the SSTF runs out of T-bills in 2034. Then, by law, benefits will be cut based on total revenue available.
PFL
We have a definition problem here. Yes, we are entitled to it, so it is an entitlement. But unlike welfare recipients, we paid into it.
Rename welfare "forced charity".
It is my understanding that people get back what they paid in in just a few years, and thereafter they are getting back money which they did *NOT* pay into the system. Social Security is heavily subsidized by existing workers. It hasn't paid it's own way for a very long time.
Before they stopped sending annual SS statements, I noticed they were making an error in their calculation of estimated monthly payments I would receive. They had zero estimated future contributions into my account, even though I was working and paying into the system as I had for years. The second year this happened, I called the office in D C and the person was so rude I lost it and gave him a piece of my mind. (one piece of information I gave him was that they were nothing but a bunch of m-fing liars and thieves.)He told me that I was not allowed to talk to him like that and told me to go to my local office.
At the local office, the first person did not even understand how SS works or is calculated so I asked to speak to a manager. At that time the security guard came to stand at my side. The mid-level bit*h that came told me I had no business whatsoever questioning my account as I was not old enough to collect benefits and if there was anything wrong in their system I could ask about it when I was old enough. I had a few words for her also, then the security escorted me out.
The next year they quit sending out statements.
Self-employed workers must pay into SS, paying both the individual and employer's shares. They are not exempt from SS.
A few minor corrections:
1) Yes a person who never paid into SS can receive benefits - based on being a survivor of someone else who did pay in.
2) Self employed do pay into SS, their tax rate is 12.4%. 6.2% from yourself like everyone else and 6.2% from your employer which in this case is also yourself. This is true for the first $117,000
see http://www.ssa.gov/pubs/EN-05-10022.pdf for more details.
Self employed people pay both the employer and employee sides of SS in taxes.
I know since I run a one man business - me.
I’ve paid over $150,000 into SS over my lifetime and if I start drawing at 62 I’ll pull every dime out in less than 9 years - by 71 years old.
Most people in my family live well into their 80’s.
It depends on whether you are a high or low income earner.
No, you have NEVER paid into Social Security. You have been taxed on your current income to receive a future entitlement. It is not “your” money. There is no personal SS account that holds “your” money.
The is still a very large "collapse". These days (which I am sure you are aware) people claiming they can't work because they are alcoholics are receiving SS Disability.
Sorry, but they are both entitlements, with some people getting more out of SS than they put in and most current Medicare recipients getting far more out than they put in.
Those on food stamps could likewise claim that they paid income taxes into the feds for years, so food stamps in a time of need are something they had personally funded.
All of these systems are used to buy votes for an ever-growing government.
They are using social security accounts of dead people usually.
I do not consider it a plus at all.
No his assumptions are not off and that has been proven many times over, both in calculation as well as in actual practice. Don't forget the deductions on your paycheck are only half of what you are really paying in, your employer just writes the check for the other half which is also your money.
nester vs fleming around 1960. SS has always been the ‘peoples money’ and you aint one of ‘the people’
Think of it as a contract in which the Govt can change the terms any time they want.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.