PRETTY MUCH WHAT HAPPENED
I want what’s coming to me. With interest.
It’s a Ponzi scheme, and always has been. If it had been created by anyone other than the Federal government, the people responsible would have ended up facing long prison terms. Like all Ponzi schemes, Social Security *must* eventually fail, because you can’t keep expanding the base of the pyramid forever.
SS has been running a deficit lately. 2024 -$67B gonna eat into the “surplus” quickly.
Those U S Treasury notes that were put in the till when the money was drawn out are merely IOUs. No money in them, only accounting entries. The money was spent.
SS has been running a deficit lately. 2024 -$67B gonna eat into the “surplus” quickly.
Social security is nothing more than a collectivist death tax Ponzi scheme designed to rob you of everything.
I wish they had the option of managing your own SS like Bush suggested. I would be a multi-millionaire by now. As it is, I could actually do without it. However, the piddly amount that it is belongs to me, and I want all that’s coming to me. And, my wife wants the thousands of dollars they still owe her because of the windfall elimination provision. That minuscule payback they gave her this year is an insult.
But, but we were promised back in 1964...
https://www.ssa.gov/history/ssa/usa1964-2.html
Self-Supporting
“The program is designed so that contributions plus interest on the investments of the social security trust funds will be sufficient to meet all of the costs of benefits and administration, now and into the indefinite future—without any subsidy from the general funds of the Government. Both the Congress and the Executive Branch, regardless of political party in power, have scrupulously provided in advance for full financing of all liberalizations in the program.”
And where the money went...Read and Weep!
https://www.ssa.gov/OACT/ProgData/fundFAQ.html#n4
All the social security contributions went to pay for the social security of illegal aliens. /spit
This happened towards the end of the Vietnam era.
Better late than never.
I found the Social Security Trust Fund:
If we do a heist and steal the file cabinet we own it all.
Lol.
Wrong? You used words such as surplus, reserve, contributions, trust fund, and solvency.
None of those words are applicable to Social Security.
Those that use the treasury notes as proof of solvency are engaged in willful ignorance of the true nature of SS which is also mentioned with such terms as “I am owed, we wuz promised, sacred intergenerational debt, trust fund, spent and wasted, cut out the waste, we have enough, I fought for this country, I could have invested it, etc..
SS is and always has been a vote buying social welfare scheme designed to enfeeble people to government. It takes, and always has, from today’s workers and gives to today’s recipients. The amount taken and given and who it is taken from and given to is simply the results of political calculus just like any other government welfare scheme.
Retirement is now like healthcare. The government, your employer, anyone and everyone else should pay for your retirement and health care. Anyone but you.
Already out defense posture is slipping away as money flows to the entitled masses. Ask the UK has this goes from here.
I have plenty of friends and family who have expect to retire on SS at age 62 (or earlier if they can be “disabled”) and ride it for 30 years. And these are die hard otherwise conservatve liberty loving anti-big-government people. But they are utterly dependent on the US governemt.
As a white male I consider SS reparations for years of onerous taxation, reverse discrimination and endless legal immigration used to try to keep me down, replace me and on my knees. I WANT MY F’G MONEY.
The US only has one account, the general fund. EVERYTHING is paid out of it.
If someone in Trumps admin would listen to my idea and shore up SS with tariff revenue then everything would be fine.
That’s the score.
I only hope to sort of break even on what I put in. I’m paying tax on 85% of what I’m getting back. Not looking good.