Posted on 01/28/2023 7:41:42 AM PST by 6thavenue
Edited on 01/28/2023 9:04:42 AM PST by Jim Robinson. [history]
Bloomberg
It was never an investment program. It was a program where they took your money and then paid it out as “benefits” to those retired. As long as it wax collecting significantly more money than was paid out, it sort of worked. (Just like a Pnzi Scheme sort of works!) Another, thing that kept it sort of working was life expectancy and demographics. The system was built on the expectation that life expectancy would change little. It did! The system was also built on the assumption that worker demographics wo7ld change little. It did! Another flaw in the system, you can take out way way more money than you put in. Look up on Wikipedia or even the SSA website Ida May Fuller. Her total SS contribution from her working career was something like $24.00. When she retired, she collected something like $22,000 total in benefits from SSA. There have been tens if not hundreds of thousands of Ida May Fullers. Congress and past administrations have punched more holes in the SS bucket with borrowing from it, allowing people in who paid little to nothing in. People keep telling me illegals are now draining their take from it. Also you have NO OWNERSHIP RIGHTS TO THE MONEY YOU PAID IN! If you did you could count it in your assets and pass it to your heirs. You can’t! It’s a tax like any other tax. You don’t own the tax money you paid to the IRS! There have been several federal & USSC court decisions stating that!
It’s not as if the USG has lied to you about this. It’s public knowledge. It’s on the SSA website but it takes some digging. It is politician’s (mostly Rat!) best interest that you remain misinformed about SS. At some point this financial grenade will go off.
It was never an investment program. It was a program where they took your money and then paid it out as “benefits” to those retired. As long as it wax collecting significantly more money than was paid out, it sort of worked. (Just like a Pnzi Scheme sort of works!) Another, thing that kept it sort of working was life expectancy and demographics. The system was built on the expectation that life expectancy would change little. It did! The system was also built on the assumption that worker demographics wo7ld change little. It did! Another flaw in the system, you can take out way way more money than you put in. Look up on Wikipedia or even the SSA website Ida May Fuller. Her total SS contribution from her working career was something like $24.00. When she retired, she collected something like $22,000 total in benefits from SSA. There have been tens if not hundreds of thousands of Ida May Fullers. Congress and past administrations have punched more holes in the SS bucket with borrowing from it, allowing people in who paid little to nothing in. People keep telling me illegals are now draining their take from it. Also you have NO OWNERSHIP RIGHTS TO THE MONEY YOU PAID IN! If you did you could count it in your assets and pass it to your heirs. You can’t! It’s a tax like any other tax. You don’t own the tax money you paid to the IRS! There have been several federal & USSC court decisions stating that!
It’s not as if the USG has lied to you about this. It’s public knowledge. It’s on the SSA website but it takes some digging. It is politician’s (mostly Rat!) best interest that you remain misinformed about SS. At some point this financial grenade will go off.
How old are you????
21 days on FR........
Want to reform Social Security? Dump the 80% of people in their 30’s who have learned out to game the system and claim ‘disabled’ for decades. Yeah YOU’RE PAYING ALL THOSE BUNS LIBING IN TENTS CALLING THEMSELVES ‘HOMELESS’... Your Social Security dollars pays drug addicts to shit on streets every month until they die.
It’s time for conservatives to make peace with Social Security and Medicare. Their own voters are receiving these program and rely on them - middle class working people who don’t have the advantage of govt pensions or inheritances to sustain them in old age. GOP should be finding ways to fund these programs , not cut them. I would divert money from the military industrial complex , and aid to illegals, and foreign aid. Also I’d be open to raising taxes on big business. I don’t consider most big corporations to be my friends. They’ve bought the whole agenda - diversity rules for employees, subsidies for BLM, encouraging and funding for employees’abortions (even travel costs). And big payouts to executives regardless of stock performance. I’d be fine with raising their taxes to help fill any shortfall in programs our seniors - including many Trump-voting seniors - depend on
Yes, definitely cut the new Crickets school lunch program.
+1!
desantis released a statement last week instructing people not to donate money to any organization that claims he’s running for president in 2024...
“ Raising the Social Security tax WOULD solve the issue”
I don’t support that. I favor at least looking at reversing the Paul Ryan tax cut for big woke corporations
At least Social Security benefits Americans who work.
How much of that was from the Paul Ryan corporate tax cut that Trump signed? I supported it at the time, but I no longer defend low taxes for woke big corporations.
************
Most of Trump’s debt was because of covid hysteria, which was egged on by many “conservatives” on this very forum.
The year 2020 was the big spending year for debt during the Trump Presidency. The prior 3 years were completely normal by post Reagan standards.
We are not a socialist country, plenty of opportunity, many people are getting very rich every day. As is their right.
The share of GNP that goes to wages has declined from ~67% to around ~45% in the past couple of generations. That is hardly socialism.
This is putting immense strain on families and working people. Many people can barely support themselves during their working years, much less retirement. That is why talk of cutting social security or raising the retirement age is political suicide.
I point this out because many people on our side do not want to hear this but need to.
I PAID for my damn Social Security and Medicare! With only a PUNY return on my investment.
DON’T YOU DARE CUT MY SOCIAL SECURITY!!!!!!!
If anything you should INCREASE it.
Hamburger flippers get TWICE (per year) what I get in Social Security that I PAID FOR!
RAISE THE MINIMUM WAGE! They cry. How about RAISE THE SOCIAL SECURITY PAYMENTS.
Programs the government has that could be, should be cut have been listed many, many times...Foreign aid, welfare for non-workers, medicaid, payments to illegals...Many programs that would not, should not, affect hard working and retired American citizens...
As I said earlier, and I’ll say it again to you:
I’m at the 3/4 century mark...I have worked since I was 16 years old...I am a Vietnam Veteran...I served my country honorably and with love...I worked while I went to college...
I have paid into SS Medicare ALL those years...
I have EARNED my payback of SS and Medicare...
I’ve said it before and said it again. You can cut all that stuff and not make the tiniest dent compared to SS/Medicare (the “good” to you socialism) spending.
Your information on Ms Fuller should’ve shown that SS withdrawals didn’t even begin until 2 years before her retirement and she lived to be 100 years old...
What do you have to say about people who have worked and paid into SS for 50-60 years??? In your opinion, do they DESERVE to get payments back from what they have paid in????
That's too simple. Too America first.
Instead of taking care of our own people and our own country, the lawyers/politician globalist in D.C., blow *trillions* on BS adventures in Vietnam, Iraq, Afghanistan, Ukraine, foreign aid, et al.
If we took care of our own people and our own country, we would all be doing great.
Instead, these dirty sons of bitches go after all the old folk, the grandparents who paid SS taxes for 40+ years.
Eff them all.
Those wars are a drop in the bucket compared to entitlement spending in the USA. Wouldn’t change a thing.
Nobody wants to talk about the 800lb gorilla destroying the country.
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