Social Security Administration Admits To Massive Screw Up On Wage Data

Zero Hedge ^ | 11/02/2010 | Tyler Durden

[Rusty0604]

Of course, the timing for the revelation on the day of the elections is a total coincidence. As per the revised tables, average incomes of top earners did not quintuple as had been released on October 15 to $519 million, but instead declined by 7.7% to $84 million.

[Rusty0604]

Evil rich people getting richer argument based on bad data.

[DontTreadOnMe2009]

a 600% error !!!!!!!!!!!!!

[ShadowAce]

They shoulda carried the two

[Robert A Cook PE]

Brought to you by the same people who will control our health care, retirement, disability, and retirement pay .....

OOOpsie!

[Lurker]

Brought to you by Government employees making well over 125,000 annually no doubt.

It's long past time to take a flamethrower to SS.

[Sequoyah101]

Two data points out of a TOTAL of 74 Americans making more than $50 million a year skewed this data set. TWO out of SEVENTY-FOUR mind you and these idiots couldn’t see it?

These are the people who manage your retirement and who the creeps in this administration want to allow to take over your 401K. No effing way!

Of course we all know that government pay is higher than we peons make because we all know that government workers are all so much smarter than we people out in the filty masses that are the people.

[AliVeritas]

ping

[Saltmeat]

Have you ever noticed that regardless of how egregious the error made by high level government employees, none ever seem to get fired. This was not an innocent error. This was propaganda to support and bolster the liberals position that the rich must be taxed even more than they already are.

I hope that if we succeed in returning the Republicans to power in both houses of Congress, that they will demand accountability on the part of government employees.

[STARWISE]

... Ping!

[Rusty0604]

I haven't been able to get them to correct the formula on my statement for 2 years. They estimate my future earnings as zero. I lost my cool on the phone; called them “mf’n liars and thieves” among other things, then went to the office and ended up having the security guard standing over me while the person working there told me “why are you worried about it you're not retiring now”.

[Spitzensparkin1]

Wow, un-real. I guess we have no recourse then. They can bend the data to fit their current policies. This must be some kind of massive fraud. But to whom does one complain, the security guard???

[mware]

They knew the data would be revealed some point in the near future. This was their way of claiming they corrected the “error” before the books are opened and all is reveals.

[ridesthemiles]

a 600% error !!!!!!!!!!!!!”

IF I prepared financials for my clients with those kinds of errors- I would never have been self-employed.

[Rusty0604]

I asked them if this was their way of reducing the liabilities on their balance sheet. No reply, but the employee probably didn’t know what a balance sheet is.

[potlatch]

Bookmark

[spookie]

I was a member of group of experts in computers and security tasked to conduct an analysis of the SS operation. Our report indicated an average of one reel of tape containing SS data went missing and never found. This was back in 1960s. Ever since then I routinely filed a request for a status on my SS earnings and etc until I finally retired.

[spookie]

I was a member of group of experts in computers and security tasked to conduct an analysis of the SS operation. Our report indicated an average of one reel of tape containing SS data went missing and never found. This was back in 1960s. Ever since then I routinely filed a request for a status on my SS earnings and etc until I finally retired.

[spookie]

I was a member of group of experts in computers and security tasked to conduct an analysis of the SS operation. Our report indicated an average of one reel of tape containing SS data went missing and never found. This was back during the 1960 years. Ever since then I routinely filed a request for a status on my SS earnings and etc until I finally retired.

[penelopesire]

Good grief!

It’s time to put these government looters and parasites in the unemployment lines!!

Off with their heads! LOL!

[vmpolesov]

Does anyone here have zero W-2 income? I mean, is your income from other sources (interest, capital gains, rents) which if I understand correctly, you do NOT pay SS/FICA on?