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(Flashback) McCain gets $1,930 a month from 'broken' Social Security system
San Francisco Business Times ^ | 2008-07-14

Posted on 11/29/2010 4:22:27 AM PST by rabscuttle385

Republican presidential candidate John McCain cashes his monthly Social Security checks despite calling the federal program "a disgrace," the Associated Press reports.

"I'm receiving benefits," McCain told campaign reporters, but added, "the system is broken."

In 2007, he received benefits of $23,157 from Social Security, approximately $1,930 a month. The maximum monthly benefit under Social Security is $2,185. Social Security benefits are determined by age at retirement.

McCain, who is 71, has received benefits since he was 65.

Last week, McCain told observers at a town-hall meeting in Portsmouth, Ohio, "Americans have got to understand that we are paying present-day retirees with the taxes paid by young workers ... and that's a disgrace."

(Excerpt) Read more at bizjournals.com ...


TOPICS: Crime/Corruption; Government; News/Current Events; US: Arizona
KEYWORDS: mccain; mccaintruthfile; mcqueeg; rino; socialsecurity
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To: rabscuttle385
"Americans have got to understand that we are paying present-day retirees with the taxes paid by young workers ... and that's a disgrace."

Has McCain just discovered this?

21 posted on 11/29/2010 5:07:06 AM PST by meyer (Hey Obama - It's the end of the world as you know it.... ..... and I feel fine!)
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To: Kimberly GG

I plan on collecting MY social security when I reach that age, whether or not I keep working.

What you are advocating amounts to a tax penalty for old people who decide to keep working, a tax equal to the SS benefits they have EARNED by paying THEIR SS taxes for their entire lives.

Oh wait, you said “especially collecting the kind of salary he does”. So maybe you are just into class warfare, buying into the liberal argument that rich people don’t pay their fair share and are out to get the little people, and we should punish them for making “too much money”.

It cracks me up to see conservatives making liberal arguments simply because they don’t like a political candidate.


22 posted on 11/29/2010 5:07:28 AM PST by CharlesWayneCT
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To: mosesdapoet
Reagan paid into the system and by law was entitled to collect what he contributed to.

Exactly. I've been paying in for 34 years. They'd danged well be paying MY MONEY back to me when I'm of age. Fact is, they should never have taken that money from me in the first place. I never volunteered for participation in the ponzi scheme known as Social Security.

23 posted on 11/29/2010 5:10:30 AM PST by meyer (Hey Obama - It's the end of the world as you know it.... ..... and I feel fine!)
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To: Non-Sequitur
"I'm receiving benefits," McCain told campaign reporters, but added, "the system is broken."

You are receiving benefits, Dufus, because you applied to receive them. So why claim the system is broken?


24 posted on 11/29/2010 5:13:34 AM PST by TomGuy
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To: Kimberly GG
“Americans have got to understand that we are paying present-day retirees with the taxes paid by young workers ... and that's a disgrace.”

Because Congress keeps borrowing from the SS Trust Fund! The SS Trust Fund has become nothing but a stack of IOU's.
25 posted on 11/29/2010 5:16:27 AM PST by TomGuy
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To: msrngtp2002
The fact that eligible people draw SS is not why the system is broken. It was never meant to be a welfare system and yet was turned into one with SSI and other welfare like draws are breaking it.

THAT is exactly the problem. Or one of the problems.

26 posted on 11/29/2010 5:29:03 AM PST by meyer (Hey Obama - It's the end of the world as you know it.... ..... and I feel fine!)
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To: Eric in the Ozarks
There is no reduction of SS payments after 65. If you file early, SS is reduced by about $10/month.

I was aware that you got less when you applied early. But I was under the impression that continuing to work while drawing Social Security reduced your benefits by a certain amount for each dollar earned.

27 posted on 11/29/2010 5:30:56 AM PST by Non-Sequitur
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To: msrngtp2002

here here

as soon as SS payments become “means tested” then it becomes just another welfare program

stop paying the lower and middle classes “SSI” for their ADHD kids and start saving money immediately


28 posted on 11/29/2010 5:31:59 AM PST by silverleaf (All that is necessary for evil to succeed, is that good men do nothing)
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To: rabscuttle385

Many of us under 45 know damn well that we will not receive a dime of the money seized/confiscated from our paycheck to prop up FDR/LBJ’s ponzi schemes.


29 posted on 11/29/2010 5:42:14 AM PST by Le Chien Rouge
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To: Eric in the Ozarks

There is no full eligibility at age 65 anymore. They keep moving the full benefits age upwards.

The information is readily available on the web. Being informed keeps one from making costly mistakes or looking uninformed when discussing this issue with others.


30 posted on 11/29/2010 5:45:19 AM PST by Carley (IT'S THREAT ANALYSIS, NOT RACIAL PROFILING)
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To: Non-Sequitur

He’s reached a certain age where he can make any amount and it doesn’t reduce your SS check.


31 posted on 11/29/2010 5:46:29 AM PST by Sacajaweau
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To: MARTIAL MONK

Thanks for the info in your post #20.

It’s nice for people to have the facts before they engage is slurs and insults against Senator McCain.

He has many faults but being in the Klinton category of charitable giving is not one of them.


32 posted on 11/29/2010 5:47:25 AM PST by Carley (IT'S THREAT ANALYSIS, NOT RACIAL PROFILING)
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To: TheCPA
When Social Security benefits are taxed that taxation takes place at the highest possible rate ~ and NONE of the money is returned to the Social Security side of the ledger.

It goes, instead, into the general revenues.

Frankly taxing Social Security is just another way for Democrats to steal from the elderly and put money into pork projects for their favorite constituents.

33 posted on 11/29/2010 5:52:24 AM PST by muawiyah (GIT OUT THE WAY ~ REPUBLICANS COMIN' THROUGH)
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To: msrngtp2002

What’s particularly egregious is anchor babies, brand new immigrants, and their respective extended families collecting SSI, Disability, etc. I wonder what would be the status of SS without this drain.


34 posted on 11/29/2010 5:53:17 AM PST by algernonpj (He who pays the piper . . .)
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To: meyer
Alas, SSI and SS, and ADFC, all drew from the same pool of tax revenues at the outset.

To the degree ADFC was a welfare program ~ which was all that it was intended to be ~ the whole mess was a welfare program and subject to all the manipulations and economic distortions ordinarily discovered in such operations.

35 posted on 11/29/2010 5:55:23 AM PST by muawiyah (GIT OUT THE WAY ~ REPUBLICANS COMIN' THROUGH)
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To: Sacajaweau

So I now understand, thanks to you and other FReepers. This site is a never ending source of information.


36 posted on 11/29/2010 6:01:51 AM PST by Non-Sequitur
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To: msrngtp2002
It was never meant to be a welfare system and yet was turned into one with SSI and other welfare like draws are breaking it.

Sorry but that is incorrect. SSI was ALWAYS intended to be a welfare program and nothing else. It was dishonestly sold to the American people as some kind of an insurance program but that was all a lie. Taxes collected for SSI were never, ever, set aside to pay claims. It all went to the general fund and SSI payments are made directly from the general fund. The Roosevelt administration admitted as much in arguements before the Supreme Court...while at the same time they were engaged in propoganda campaigns decieving the public into thinking theye were buying old age income security insurance. Mark Levin covers this topic extremely well towartds the end of his book, "Liberty and Tyranny". Read what he has to say...it's a real eye opener.

37 posted on 11/29/2010 6:06:42 AM PST by pgkdan (Protect and Defend America! End the practice of islam on our shores before it's too late!)
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To: CharlesWayneCT

Great post, thank you.

I’m seeing an increasing amount of bogus info on FR. I realize folks are rabidly unhappy about the economy and the Baraqqi regime, but that’s no excuse for inaccuracies.

It’s important to correct these. Frankly there are times when I’d be reluctant to refer friends here.


38 posted on 11/29/2010 6:07:20 AM PST by nascarnation
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To: Carley

I filed at 62 and I’m glad I did.
The penalty between 62 and 65 was meaningless to me.


39 posted on 11/29/2010 6:09:56 AM PST by Eric in the Ozarks (Impeachment !)
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To: Non-Sequitur

“I thought that if you were working and drawing Social Security then your monthly benefit was reduced by a certain amount for every dollar of outside income.”

Only if you draw it at 62, and then only until you are 65.


40 posted on 11/29/2010 6:11:30 AM PST by dalereed
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