Social Security as a means relieve unemployment (FDR's words...not the popular meme)

http://xroads.virginia.edu/~ma02/volpe/newdeal/unemployment_fireside_text.html ^ | 09/19/2014 | self

[CurlyDave]

You’re being unresponsive. The claim you previously described is the one you have based on all the taxes you paid your whole working life. What you describe here is a year by year thing, apparently, prepared after you’re already receiving benefits. What does that have to do with what we’ve been talking about? They could give you that sort of statement without your ever having worked in your life.

What I describe here is an annual statement of benefits which I have been receiving for at least 15 years. It started long before I drew any benefits. There may be a minimum age to start receiving benefit statements, but they are real, I have been getting them since at least 2000, and they are a statement of my claim against SS.

I am not being unresponsive, you need to educate yourself on how SS works before you hurl insults.

[Mears]

I used to get those statements too——and I was not collecting SS at the time.

They went way back to my jobs in the fifties.——even showed some part time jobs I forgotten about.

.

[Pelham]

“So why didn’t you tell the other poster that, instead of saying “they haven’t squandered it”? What is the “it” they haven’t squandered? “It” doesn’t exist!”

Because I assumed that the poster had the intelligence necessary to realize that something that never existed could not be squandered. Evidently I didn’t take you into account.

“That is most certainly not how a bank works.””

And your expertise on how banks operate is what, exactly? You once wrote a paper on the money multiplier in a fractional reserve banking system did you? I’ll be thrilled to read your explanation of what banks do with the deposits they take in. Let me get some popcorn.

“By the time you receive benefits whatever you paid is gone, and your SS income is dependent on taxing whoever happens to be working then.”

That’s not exactly news. The SS system was set up to operate in precisely that fashion in order to prevent the economic drag that would result if cash were being drained from the economy by being warehoused in ‘trust funds’.