Posted on 02/19/2010 9:56:15 AM PST by bronkburnett
Government employee retirement is paid out of the general fund not out of what they paid in. Unless something changes, the taxpayers are forced to pay it.
There is not enough money in the whole world to continue the Social Security ponzi scheme forever. Too many retirees.
There is nothing in the Lock Box but IOU’s from the government. The Federal Government is also under no obligation to pay you benefits. Under the “Reservation of Power” section 1104 of FICA, the government can spend it on anything. See Fleming vs Nestor. But it’s even worse. A previous SCOTUS ruling determined that the Federal Insurance Contributions Act did not establish a contributory insurance fund. blblblblblblblblblbl.phhhft
Government parasites are the new ROYALTY.
LLS
Government parasites are the new ROYALTY.
LLS
When Socialist Stupidity first paid benefits in 1937 the average life expectancy for whites was 58 and 51 for blacks. So there were more payers who never collected benefits at all.
Now, the life expectancy is 78 for whites and 76 for blacks. Meaning than most who pay will collect benefits.
In order to get the numbers equivalent they would have to raise the age for retirement from 67 to 81 years old.
>>”The solution is to eliminate the program . . “
>
>If the program was eliminated, what to you propose with the millions of baby boomers who paid into SS over their life time? Take their losses and move on?
People would call me a heartless bastard, but YES.
The same with welfare, of all sorts, just STOP it totally.
And the numerous Federal agencies that are not SPECIFICALLY authorized in the Constitution: DOE, BATFE, Government Aid, Student Loans, etc.
On the subject of taxes: reduce the [income] taxes to a single flat rate for EVERYONE, no exceptions/write-offs/loopholes, followed by dismantling the IRS.
Bullsh*t . . dammit, I work my ass off everyday, and your solution is to just throw up my hands and say,”the money’s gone and I got hosed, oh well. You can kiss my ass if you think me and millions of other Americans are gonna settle for that Sh*t.
may be wrong but I think Beck has stated more than one time that there is no SS fund in a lock box because the lock box has being raided by the U.S. Gov.
The more I learn about our disgusting, inept, arrogant, out-of-touch politicians I want to puke. They rob us on any occasion and then tax us the rest of the time. The are a bunch of thieves and should be jailed. (-Those who have died need to be dug up and tried!
Let’s have more kids....
Okay, we have massive unemployment so a bigger population would have even more people competing for fewer jobs and limited other resources.
More serfs to support the elderly!!!
The answer is getting the government out of the retirement care business completely. Having more kids isn’t an answer to anything.
You kiss KMAss too if you think I’ll settle for getting hosed like that. You’re solution STINKS and I won’t settle for an OH WELL, WE GOT HOSED BY THE GOVT.
It is a forced savings program for the individual with equal contributions from the employer; it is a mandatory annuity program.
No, it is not a forced "savings" progam at all.
It never has been, either.
It is a socialist income redistribution scheme where younger, more capable workers (and their employers) "contribute" a small percentage of their earnings to provide an "insurance" "safety net" to older, less fortunate / retired workers and/or their destitute widows and orphans.
There is no promise, and never has been, that your "contributions" will earn interest or that you'll ever get back a single penny. In fact, if you die prematurely and leave no eligible dependents, your designated heirs aren't entitled to receive diddly-squat.
It is NOT a "savings program".
The only thing you should expect from contributing during your younger, working years is that, when YOU retire, the upcoming younger generation will support you the same way that you supported the older generation ahead of you.
Pretty simple concept which Congress has corrupted beyond recognition.
Their plan actually has the same insolvency problem, and the crisis is closer. The difference is that the total unfunded commitment is to Govt. workers and is thus smaller than the huge SS problem, which involves everybody's benefits.
If it is done away with......what do you do with all the seniors that have invested in the program?
02. ) LBJ moved the Social Security funds to the “General Fund”
what, what, no lock box — just stunned.....
So your answer is to bend over an entire generation and say FU? Right . . that’ll NEVER EVER happen.
>Bullsh*t . . dammit, I work my ass off everyday, and your solution is to just throw up my hands and say,”the money’s gone and I got hosed, oh well.
I quit the military [didn’t reenlist] because I was tired of “getting hosed.” I’ve had my fill of being lied to about promotions; I got tired of the follow-the-leader’s-orders mentality from the higher-ups too; and lastly, I didn’t want to be put in a place where honoring my oath [to defend the Constitution, not president/government] would conflict with “having to follow orders”.
>You can kiss my ass if you think me and millions of other Americans are gonna settle for that Sh*t.
Then I suppose you REALLY wouldn’t like my solution-list:
http://www.freerepublic.com/focus/news/2455004/posts?page=27#27
That’s how he paid for the “Great Society” program, which tore black families apart and produced welfare queens.
Social Security is a Defined Benefit program in that the benefits received are nominally connected to the amount having been contributed during the working lifetime. The benefits are not paid from ‘contributions’ paid in. It is NOT a savings program. It is a Defined Contribution qualification program. In other words, get in the door with some levels of contributions and reap payments based on qualifications and forever after until death collect payments.....Bottom line? Yours, mine and their heirs pay the fare. SS is effing broke this year, billions paid out, less billions paid in. It is only a matter of time when the federal tax revenues have to go to supporting SS payments instead of reaping the benefits of excess payments from the mythical “lock BOX”....
I think you're right. If I do get anything back from SS, it will be a lot less than I contributed.
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