Posted on 12/12/2011 7:16:25 AM PST by Slyscribe
Each year, the federal government hands approximately $10 billion over to the richest 1% of Americans mainly to rich retirees according to an IBD analysis of data on various federal transfer programs. And these payments are growing, adding to the income inequality that politicians like President Obama frequently complain about.
(Excerpt) Read more at news.investors.com ...
Wow, I remember days of Republican administrations where we were supposed to be VERY concerned that Republicans would STEAL from Social Security....
Now, it’s like, “Look who doesn’t DESERVE Social Security!”
THEIR money that THEY paid into it.
“The bulk of the taxpayer money going to the richest 1% came from Social Security and Medicare, which provide benefits to retirees regardless of their income.”
Apparently it doesn’t matter that they paid into those forced Ponzi Schemes at their maximum level throughout life and the ROI is crap?
/johnny
Exactly. The 'rats are trying to completely disconnect who pays in with who collects. The fact is, if you paid in, you should collect based on what you paid in. No more and no less.
I love the wording here...
“What’s worse is that this government transfer of wealth from working families to the rich has increased over the past three decades.”
Needs to be disclaimed at the source. Unless its true?
Its called a “progressive income tax” ...the process by which the rich, who can buy anything they want, buy a government.
Its why we now have an Oligarchy......We the People were conned into selling our country
I’m sure, if given the option, most of these people would have elected to get out of Social Security, when they were earning money. I’m middle class and 41 y/o...and I would jump at that opportunity.
But they couldn’t - they were roped in...and it is beyond immoral to suggest they shouldn’t reap the ‘benefits’.
As for Medicare payments...the existence of a ‘single payer’ system for people over a certain age in this country has exterminated the health insurance market for retirees. There is practically no other choice, other than self insurance. And, again, these people were roped in.
Looks like the class war is ‘on’.
When Reagan (who was eligable) began to collect his SS benefits he made it a point to announce it. His point was that he paid into it and has every right to collect it. The problem is on one hand that money is suppose to go into a “special fund”. But doesn’t. In reality it is a tax which goes into the general fund.
This is where Obama comes in and wants to reduce the “payroll contribution” to social security as a “payroll tax reduction”.
The government gives $10B to the group that gives the government $1000B?
...sorry, what was that claim about “not fair”?
Your social security payments area calculated according to your payments into the program, so DUH! Obviously the rich get more back, having paid more in.
Many lower-income people evade social security taxes (for example, by working on a cash-only basis). This is probably ignored in the analysis.
Many people collect after making the minimum contributions, and those people can make back their whole contribution in benefits within a few years, From then on, they are getting free retirement payments. I know several such cases, just within my circle of friends and family. It is a sanctioned, perfectly legal racket.
There also is SSI, a program added to social security long after its start, and not part of the original plan. This pays support for people who get certified as unable to work for some reason. Many have minor mental or emotional problems, which thus entitle them to a life without working. I know several such cases, and it is incredible that these people do not work yet they are draining the system. They live the lives of an independently wealthy persons, including travel, hobbies, sports, &c.
The Food Stamp program for years has been growing into another sanctioned rip-off. I notice this years ago, when I was a struggling young parent, shopping for groceries. A young woman in front of the check-out line was paying for her purchases with food stamps, and I noticed that she was buying bacon and other luxury foods which I was thriftily avoiding. It took all my self-control not to make some comment, such as I hope that you enjoy all that stuff, because my family is paying for your luxuries.
Another big scandal is the way we subsidize single-parent families. A woman who gets herself repeatedly knocked up is looked upon as an object of pity, and showered with government assistance. It is a subsidy for a low-efficiency model of child-raising, one associated with ignorance and crime. We are paying for it.
Eventually, all these government programs will bring about the collapse of our society not just our economy, but our social fabric.
Here is comes folks. Means testing for SS and Medicare. We will get to the point where those who have prepared and saved for retirement will enjoy a functional retroactive tax as a reward for their efforts.
Total BS. You get ONE vote at the ballot box and it has NOTHING to do with how much money the government has confiscated from you. The schmuck who lives on the government dole has the same voting power as the guy who earns a million dollars and employs a bunch of other people. The progressive income tax is a bill of attainder aimed to punishing those who work and become financially successful.
And the 99% are getting trillions.
So if mainly rich retirees pay into a forced system they shoudn’t receive any of the rewards?.
Shouds like democrats logic.
you haven’t paid too much attention as to how “your” candidate is being selected, have you?
Election 2012...the United Soviet States of America..where the Pravda State Media vet the candidates to the pleasure and needs of the RinoCrat UniParty.
This election will be a non-election...featuring the state approved candidates-whose only distinction is whether they are black or white.
slight hyperbole. but not much frankly.
Every year 65% of Americans get $1.5 TRILLION fron the fed.
Let’s see, they are complaining about people who paid into a system getting money back out of that system as “unfair”, BUT I see not one word about people who pay in no income tax getting money from the government on the EIC. I wonder how many billions go out to people who claim this every year, year after year. Where’s the outrage from the MSM about that?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.