Posted on 06/04/2011 10:46:11 AM PDT by re_tail20
***Government over-subsidizes the affluent elderly. ****
If the Government confiscated part of their earnings and promised them Social Security, the the Government should pay up!
Here is what the Government promised in 1964!
http://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 here is where your money went! Read and weep!
http://www.socialsecurity.gov/OACT/ProgData/fundFAQ.html#n4
THE OLD AGE PENSION CHECK
Roy Acuff & His Smoky Mountain Boys - 1939
When our old age pension check comes to our door,
We won’t have to dread the poor house anymore.
Though we’re old and thin and gray,
Good times will be back to stay,
When our old age pension check comes to our door.
When her old age pension check comes to her door,
Dear old grandma won’t be lonesome any more.
She’ll be waiting at the gate,
Every night she’ll have a date,
When her old age pension check comes to her door.
Grow a flowing long white beard and use a cane,
‘Cause you’re in your second childhood, don’t complain.
Life will just begin at sixty,
We’ll all feel very frisky,
When our old age pension check comes to our door.
Powder and paint will be abolished on that day,
And hoop skirts will then be brought back into play.
Painted cheeks will be the rage,
And old maids will tell their age,
When their old age pension check comes to their door.
All the drug stores will go bankrupt on that day,
For cosmetics, they will all be put away.
I’ll put a flapper on the shelf,
Get a grandma for myself,
When her old age pension check comes to her door.
There’s a man that turned this country upside-down
With his old age pension rumor going ‘round.
If you want in on the fun,
Send your dime to Washington,
And that old age pension man will be around.
Nope not true. Many poeple, have retired at 62 after only workig for 25 years,And what the money was worth then versus now is not the point NO ONE should ever get back more than they paid in and that is what is happening.I stand by what I said,If you paid in $30 a week for 25 years your checks should never exceed $162 a month!It is not a savings accountit is the government.Do the math and figure it out yourself and you will quickly see how today’s recipiants are recieving much more than they paid in and brekaing it for my generation.
So why can’t you do it instead of having the taxpayer pay for it?
I beleive I read that there have been more than one Supreme court decision that states that no one is entitled to what they paid in to social security?
So, I put in $20 fifty years ago and the government loans it out at interest year after year and now I should only get my $20 back? Are you really saying that?
I said “How about adding some tough talk and action” on other “Sacred Cow” expenditures.
And I imagine that most conservatives do not consider their parents and grandparents to be “able bodied bums” just because they may be on social security or medicare.
Remember, there is a difference between those two programs and the welfare and freebie programs the government protects.
During their working years most of the oldsters (and their employers) made direct contributions toward the programs,whereas others getting handouts and freebies. as good and better, paid zero directly into those programs.
Granted, the contributions (that were ripped off by the federal government) weren't enough to finance the programs’ costs today, but both were (and are) partially financed by direct contributions from workers.
Mom, Dad, Grandma and Gramps didn't make the decision to let people who never contributed receive social security and sign up for medicare and they didn't make the decision to steal the money to finance other government programs and boondoggles.
And now the government is installing Obamacare, a multi-trillion dollar program to give free medical to millions. But the attention is all on stripping medicare from the elderly while the government lavishly endows Obamacare. Remember, the democrats stripped $500 million from medicare to help make the numbers on Obamacare look better. If there is to be any government subsidized health care shouldn't the elderly come first?
If we have to do something about social security and medicare (and we do) they should not be the only programs defunded.
That's all I'm saying.
AMEN! Retirees now are getting abck 3 to 4 times what they paid in. It is not fair that they are taking so much while there will be nothing for those of us who are in our 40’s and 50’s! You are robbing your children and grand children of their futures and putting the next generations into unimaginable debt.
All of that too.Obiviously you don’t realize how much ss and medicare are of our debt problems. What you talk of are less than 20% the rest is of what we are talking about.
Twice a year? Now see this is what I mean - my mother has it done many, many times a year. I don’t really care about this - I mean you can’t imagine long toenails (they’re either long or they ain’t) but if your mother is only getting it twice a year, why is my mother going every other month? She’s big into “preventative” measures, so maybe that’s it. Me, I hope when I’m in my 80s I can still go to a shop and get a pedicure, lol!
Yes I am there is no guarantee of interest it is not a bank it is a tax.
No problem. So will you. This is how it works. 60 years ago the pay for a college accounting graduate was 2600 per week and ss was based on that amount. Today the starting pay is roughly 20X that or 50,000 per year and ss payments are based on that amount. So when you retire in 60 years the starting pay will be $1,000,000 per year. So that generation will be funding you and you will get yours back quickly. Don't spend it all you rich old greedy man.
No problem. So will you. This is how it works. 60 years ago the pay for a college accounting graduate was 2600 per year and ss was based on that amount. Today the starting pay is roughly 20X that or 50,000 per year and ss payments are based on that amount. So when you retire in 60 years the starting pay will be $1,000,000 per year. So that generation will be funding you and you will get yours back quickly. Don't spend it all you rich old greedy man.
Money and taxes are fungible. That, unfortunately, is what income taxes and payroll taxes were and are. Did no one clue you in to the truth about the lockbox?
And that government should take funds from taxpayers to subsidize the medical care of the wealthy is a really hard position to defend. You could say, taxpayers should get all the benefits from government, because they are the only ones paying into it. But then, what’s the point in collecting those taxes in the first place?
Unfortunately grandma and grandpa too often voted for the increasingly socialistic, unsustainable system that we have. Pruning back with means testing, higher age requirements and more copays is probably the best way to start to rein it all in now. It’s also more palatable politically than Ryan’s voucher system.
****AMEN! Retirees now are getting abck 3 to 4 times what they paid in. ***
It wasn’t supposed to be that way. in the 1930s the life expectancy for a man was only around 57 years, and a woman 64 years.
So, a man pays in all his life, dies before he can draw, then his wife can draw till her death. Think of how much the government would make of each worker!
Then came Penicillin....
I just have to wonder: What did people do for thousands of years before 1937, FDR and Social Security?
The reason that we are doomed. The only way to get our fiscal house in order is bankruptcy. Until that happens, and the checks bounce, the American people will not let the present system change. Only a dose of cold hard reality will bring change.
________________________________
Yep, that's the average American...didn't start working until age 37.
They took care of themselves and their families. They did not pay half of their income in taxes. They did not demand that other people pay for what they wanted. They did not let government workers join unions. They did not let government tell them what light bulbs and toilets they could buy. They started businesses from scratch without the government regulating them out of business. They did not care about snail darters. They drilled for oil everywhere they could find it. They did not sue the doctor when the doctor couldn’t perform miracles. They did not receive money from the government when old, and then spent it on lottery tickets and slot machines. They went to the local hardware store and bought guns and ammo without a SWAT team kicking in their door. They did not elect community activists as President. They actually gave swift justice to criminals.
Social Security may in fact be a welfare program, but it was not sold as such to your mother.
So you continue to attack that instead of the message? Today’s retiree on avergae get back about 4x what they paid in.They are depleting everythging America has. So they pay in 40 years they are still getting more than they paid in and are bankrupting America.
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