User Panel
Posted: 10/9/2020 5:59:31 AM EDT
Social Security is not something you pay into and never has been. But people here keep saying they've paid into it like it is a savings account.
Do people not know history? Ida May Fuller was the first beneficiary of recurring monthly Social Security payments. Fuller was born on September 6, 1874 on a farm outside of Ludlow, Vermont. She attended school in Ludlow. In 1905, after working as a school teacher, she became a legal secretary. Fuller never married and had no children. She lived alone most of her life in Ludlow, but spent eight years near the end of her life living with her niece, Hazel Perkins, and her family in Brattleboro, Vermont. Fuller filed her retirement claim on November 4, 1939, having worked under Social Security for a little short of three years. While running an errand, she dropped by the Rutland Social Security office to ask about possible benefits. She would later observe: "It wasn't that I expected anything, mind you, but I knew I'd been paying for something called Social Security and I wanted to ask the people in Rutland about it." Her claim was taken by Claims Clerk, Elizabeth Corcoran Burke, and transmitted to the Claims Division in Washington, D.C. for adjudication. The case was adjudicated and reviewed and sent to the Treasury Department for payment in January 1940. The claims were grouped in batches of 1,000 and a Certification List for each batch was sent to Treasury. Fuller's claim was the first one on the first Certification List and so the first Social Security check, check number 00-000-001, was issued to Fuller in the amount of $22.54 (equivalent to $411 in 2019) and dated January 31, 1940. During her lifetime, she collected a total of $22,888.92 in Social Security benefits and paid in $24.75. Fuller died on January 27, 1975 in Brattleboro, Vermont. |
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The same problems that exist under any wealth redistribution scheme, and social security is most definitely a wealth redistribution scheme.
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Quoted: The same problems that exist under any wealth redistribution scheme, and social security is most definitely a wealth redistribution scheme. View Quote Its also a Ponzi scheme. The people who get in early make mad money when they punch out (or die in this case ). Its the suckers at the tail end of the scheme that get fucked. All the younger people paying in right now will never see a dime by the time they hit retirement age. |
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The projected insolvency date for Social Security retirement benefits is a moving target - Latest estimates put it at about year 2035. That doesn't mean it won't have any money left, just that it won't have enough to pay the full amounts that it owes retirees. Congress will have to do something to fend that off, most likely raising the payroll and self-employment taxes.
Much more imminent and harder to fix is the projected insolvency of Medicare Part A. That's now expected in year 2026. |
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I paid my dues and worked my ass off for many years. Came to the beautiful USA from communist Cuba and became a US citizen.
I raised a proud right wing Republican conservative family. I deserve to sit outside under my tiki drinking Mojitos while the Millennials work and provide me additional monthly money. One day when my generation dies the millennials will be in my shoes. Hopefully SS will be there for them as well. For now it is my time and I want it now. |
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“Hardly ever do the advocates of free capitalism realize how utterly their ideal was frustrated at the moment the state assumed control of the monetary system… A ‘fire’ capitalism with governmental responsibility for money and credit has lost its innocence. From that point on it is no longer a matter of principle but one of expediency how far one wishes or permits government interference to go. Money control is the supreme and most comprehensive of all governmental controls short of expropriation.” View Quote Gustav Stolper "The Age Of Fables" 1942 |
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Social security already went insolvent. What someone getting now from Social Security has a good deal less buying power then 20 years ago. 20 years from now it will be a joke. The system was designed for 5 kid families that would grow up and spend there entire lives paying in. Now a lot of people don't have kids and there are plenty of older immigrants who expect social security without having to spend their whole working lives paying. You keep hearing social security is going insolvent and the part about why it's going insolvent is left out.
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I have paid into it, I have paid into unemployment too ( Which I never have used ) for almost forty years, paid my taxes, and every other thing that was asked of me.
At 62 I will start collecting on what the government has used my money to invest in. Seven more years to go. |
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IIRC, a spouse who paid nothing in can claim 1/2 of their spouse's benefit.
My Mom was a homemaker most of her life and paid very little in FICA taxes. She started collecting when she was 62 and died at age 88. 26 years getting (I'll guess at) +-$10k per year yields over $250k. Smedley Butler once said "war is a racket". That's not the only one governments run. |
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Quoted: I paid my dues and worked my ass off for many years. Came to the beautiful USA from communist Cuba and became a US citizen. I raised a proud right wing Republican conservative family. I deserve to sit outside under my tiki drinking Mojitos while the Millennials work and provide me additional monthly money. One day when my generation dies the millennials will be in my shoes. Hopefully SS will be there for them as well. For now it is my time and I want it now. View Quote Lol I would pay into SS for the rest of my life and never take a dime if it meant my children didn’t have to be a part of government sponsored wealth redistribution program. Fuck all the old people who never figured out that saving money matters. |
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Quoted: The projected insolvency date for Social Security retirement benefits is a moving target - Latest estimates put it at about year 2035. That doesn't mean it won't have any money left, just that it won't have enough to pay the full amounts that it owes retirees. Congress will have to do something to fend that off, most likely raising the payroll and self-employment taxes. Much more imminent and harder to fix is the projected insolvency of Medicare Part A. That's now expected in year 2026. View Quote |
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Quoted: I paid my dues and worked my ass off for many years. Came to the beautiful USA from communist Cuba and became a US citizen. I raised a proud right wing Republican conservative family. I deserve to sit outside under my tiki drinking Mojitos while the Millennials work and provide me additional monthly money. One day when my generation dies the millennials will be in my shoes. Hopefully SS will be there for them as well. For now it is my time and I want it now. View Quote Comes from communist country to be free but still wants communism. |
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Quoted: I paid my dues and worked my ass off for many years. Came to the beautiful USA from communist Cuba and became a US citizen. I raised a proud right wing Republican conservative family. I deserve to sit outside under my tiki drinking Mojitos while the Millennials work and provide me additional monthly money. One day when my generation dies the millennials will be in my shoes. Hopefully SS will be there for them as well. For now it is my time and I want it now. View Quote Doesn't change that someone will be left holding it, as long as it isn't you.... right? |
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This boomer wants his cut. Last time I looked at my statement over $300K had been paid into the system by me and my employers since I started working in 1978. 58 now and plan on drawing my first check at 62. I've planned and saved like it wouldn't be there for me but I'm going to do my best to live long enough to get all of that $300K back plus interest.
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Paid in from '63 till my retirement in '08, 45 years. I'm not complaining.
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Quoted: My family fled the same Communist Country and I sure as shit don't want it. View Quote View All Quotes View All Quotes Quoted: Quoted: Comes from communist country to be free but still wants communism. Miami, You are now paying into it. When you retire you will be like the people on Star Island. You have 401k, the county's pension and then grab the SS for extra money. In my my case I have 401, ROTH, pension, savings and SS. DONT LEAVE MONEY ON THE TABLE. IT IS YOURS...They are taking it now, therefore you get it back when you are viejo. |
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Quoted: Social security already went insolvent. What someone getting now from Social Security has a good deal less buying power then 20 years ago. 20 years from now it will be a joke. The system was designed for 5 kid families that would grow up and spend there entire lives paying in. Now a lot of people don't have kids and there are plenty of older immigrants who expect social security without having to spend their whole working lives paying. You keep hearing social security is going insolvent and the part about why it's going insolvent is left out. View Quote Many of the parent(s) and kids of those (5) kid "families" are drawing from SS from a young age without paying in jack shit. The welfare class has sucked the system dry... |
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Quoted: This boomer wants his cut. Last time I looked at my statement over $300K had been paid into the system by me and my employers since I started working in 1978. 58 now and plan on drawing my first check at 62. I've planned and saved like it wouldn't be there for me but I'm going to do my best to live long enough to get all of that $300K back plus interest. View Quote |
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Quoted: I look at it more like my money was taken from me. View Quote The system is a result of democrats in the 1935 securing the female vote who lost their men during WWI. Combined with FDR giving people a bone after stealing life savings that was in gold with EO 6102 a year prior in 1934. It is also funny math that relies on the ignorance of the masses who dont understand currency manipulation through inflation. The $100 from 1970 you put into Social security does not reflect the value of the $100 you get out in 2020. An ounce of gold in 1970 value was about $35 today in 2020 an ounce of gold is over $1,700. Sorry bud but you were fooled and are getting your crumbs and saying thankyou. Just because our generations were fooled and screwed, does not make it moral to screw future generations. It is even worse when the crumbs handed out are coupled with the fact that many who are now taking from the system did not produce enough offspring or productive offspring to pay into the system for those crumbs. It is a failed system that rewards failures with the wealth of others productive offspring. If it was intended to be fair it would of been tied originally to a hard asset such as gold or to investments. Another way it could of been set up is it being tied to the productivness of your offspring. If you were not burdened with the costs and time raising children than you have little excuse to amassing wealth for your retirement. |
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Quoted: My family fled the same Communist Country and I sure as shit don't want it. View Quote View All Quotes View All Quotes Quoted: Quoted: Comes from communist country to be free but still wants communism. That’s why we love you! |
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Quoted: Lol I would pay into SS for the rest of my life and never take a dime if it meant my children didn't have to be a part of government sponsored wealth redistribution program. Fuck all the old people who never figured out that saving money matters. View Quote View All Quotes View All Quotes Quoted: Quoted: I paid my dues and worked my ass off for many years. Came to the beautiful USA from communist Cuba and became a US citizen. I raised a proud right wing Republican conservative family. I deserve to sit outside under my tiki drinking Mojitos while the Millennials work and provide me additional monthly money. One day when my generation dies the millennials will be in my shoes. Hopefully SS will be there for them as well. For now it is my time and I want it now. Lol I would pay into SS for the rest of my life and never take a dime if it meant my children didn't have to be a part of government sponsored wealth redistribution program. Fuck all the old people who never figured out that saving money matters. |
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Quoted: I paid my dues and worked my ass off for many years. Came to the beautiful USA from communist Cuba and became a US citizen. I raised a proud right wing Republican conservative family. I deserve to sit outside under my tiki drinking Mojitos while the Millennials work and provide me additional monthly money. One day when my generation dies the millennials will be in my shoes. Hopefully SS will be there for them as well. For now it is my time and I want it now. View Quote Well I wish I could say I was surprised by this post. |
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Quoted: Comes from communist country to be free but still wants communism. View Quote View All Quotes View All Quotes Quoted: Quoted: I paid my dues and worked my ass off for many years. Came to the beautiful USA from communist Cuba and became a US citizen. I raised a proud right wing Republican conservative family. I deserve to sit outside under my tiki drinking Mojitos while the Millennials work and provide me additional monthly money. One day when my generation dies the millennials will be in my shoes. Hopefully SS will be there for them as well. For now it is my time and I want it now. Comes from communist country to be free but still wants communism. He votes to keep it that way as well. |
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Quoted: Its also a Ponzi scheme. The people who get in early make mad money when they punch out (or die in this case ). Its the suckers at the tail end of the scheme that get fucked. All the younger people paying in right now will never see a dime by the time they hit retirement age. View Quote Yes, but it's just not tail-end-charlie but anyone who is alive and contributed to it. I'll never see a dime and I'm reired. |
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I had to fucking Google that, I didn't believe it true.
She lived 100 years and collected for 35. |
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Quoted: I have paid into it, I have paid into unemployment too ( Which I never have used ) for almost forty years, paid my taxes, and every other thing that was asked of me. At 62 I will start collecting on what the government has used my money to invest in. Seven more years to go. View Quote Unemployment is, to my understanding, an actual insurance. In NJ the employer's contribution is higher if they are frequent users. SS deductions go straight into the Treasury's general account. |
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Quoted: I paid my dues and worked my ass off for many years. Came to the beautiful USA from communist Cuba and became a US citizen. I raised a proud right wing Republican conservative family. I deserve to sit outside under my tiki drinking Mojitos while the Millennials work and provide me additional monthly money. One day when my generation dies the millennials will be in my shoes. Hopefully SS will be there for them as well. For now it is my time and I want it now. View Quote Disgusting ass post. You fucking fled a Communist country but embrace wealth distribution here. |
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Quoted: This boomer wants his cut. Last time I looked at my statement over $300K had been paid into the system by me and my employers since I started working in 1978. 58 now and plan on drawing my first check at 62. I've planned and saved like it wouldn't be there for me but I'm going to do my best to live long enough to get all of that $300K back plus interest. View Quote Unless you think you’re going to get $1mm+ out if it, you got scammed if you paid in over $300K beginning in 1978. |
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Quoted: LOL... that $300k is long gone and you ain't getting it back. View Quote View All Quotes View All Quotes Quoted: Quoted: This boomer wants his cut. Last time I looked at my statement over $300K had been paid into the system by me and my employers since I started working in 1978. 58 now and plan on drawing my first check at 62. I've planned and saved like it wouldn't be there for me but I'm going to do my best to live long enough to get all of that $300K back plus interest. You are directionally correct, I'll be taking it from your kids |
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Quoted: Its also a Ponzi scheme. The people who get in early make mad money when they punch out (or die in this case ). Its the suckers at the tail end of the scheme that get fucked. All the younger people paying in right now will never see a dime by the time they hit retirement age. View Quote I agree. That said, if they want to cancel it I want my money back with interest/gains I would have had if I invested it conservatively. |
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The government wants you working for the man to prop up the economy. You pay approx 15% self employment tax to be self employed, approx your 7.5% and the 7.5% your employeer would pay if you weren't self employed. Social security payment.
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Great, just what ARF needs right now... another divisive troll thread.
Everyone already knows that SS is fucked up. |
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Quoted: Great, just what ARF needs right now... another divisive troll thread. Everyone already knows that SS is fucked up. View Quote View All Quotes View All Quotes Quoted: Great, just what ARF needs right now... another divisive troll thread. Everyone already knows that SS is fucked up. We even have a member say he didn't know this. Quoted: I had to fucking Google that, I didn't believe it true. She lived 100 years and collected for 35. |
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why do you think the dem gov's were killing off old people with the corona
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I am not sure why all the hate over my post. They are not gong to phase it out. You are already paying into it.
It is your money. I already have plenty of assets but I sure as hell am not going to leave money on the table if I can get it. LETS PONDER THIS FOR A MINUTE. You all have hobbies: shooting, fishing, boating, hunting etc....Do not use your other pockets of income for your hobbies. Use your SS money. I am not sure why you are all hating on me. |
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I can hardly wait to collect my piece of the pie
It would have worked had it not been raided and replaced with IOUs |
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Quoted: I have paid into it, I have paid into unemployment too ( Which I never have used ) for almost forty years, paid my taxes, and every other thing that was asked of me. At 62 I will start collecting on what the government has used my money to invest in. Seven more years to go. View Quote all I want.wmv That is the way I look at it. I paid in. |
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