Originally Posted by chrissy2231 (Post 2182288)

The Social Security check is now (or soon will be) referred to as a "Federal Benefit Payment?" I'll be part of the one percent to forward this. I am forwarding it because it touches a nerve in me, and I hope it will in you. Please keep passing it on until everyone in our country has read it.
The government is now referring to our Social Security checks as a "Federal Benefit Payment." This isn't a benefit. It is our money paid out of our earned income! Not only did we all contribute to Social Security, but our employers did too. It totaled 15% of our income before taxes.
If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in social security ($375/month, including both you and your employers' contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved!
This is your personal investment. Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month.
That's almost three times more than today's average Social Security benefit of $1,230 per month, according to the Social Security Administration. (Google it – it’s a fact).
And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.
Instead, the folks in Washington pulled off a bigger "Ponzi scheme" than Bernie Madoff ever did. They took our money and used it elsewhere. They forgot (oh yes, they knew) that it was OUR money they were taking. They didn't have a referendum to ask us if we wanted to lend the money to them. And they didn't pay interest on the debt they assumed. And recently they've told us that the money won't support us for very much longer.
But is it our fault they misused our investments? And now, to add insult to injury, they're calling it a "benefit", as if we never worked to earn every penny of it.
Just because they borrowed the money doesn't mean that our investments were a charity!
Let's take a stand. We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government.
Find a way to keep Social Security and Medicare going for the sake of that 92% of our population who need it.
Then call it what it is: Our Earned Retirement Income.
99% of people won't SHARE this. Will you?
This Blew My Mind

https://scontent-mia3-2.xx.fbcdn.net...5Q&oe=640331E0

Originally Posted by Andyb (Post 2182653)

Your exactly right. Thanks for posting. It is very insulting to honest, tax paying citizens. Not to mention it’s taxed, so it’s double taxation. I’ll never receive what I and my employer has put in, back out. Our Government, especially with our current, “out of control spending” administration is a dangerous joke.

Originally Posted by chrissy2231 (Post 2182288)

The Social Security check is now (or soon will be) referred to as a "Federal Benefit Payment?" I'll be part of the one percent to forward this. I am forwarding it because it touches a nerve in me, and I hope it will in you. Please keep passing it on until everyone in our country has read it.
The government is now referring to our Social Security checks as a "Federal Benefit Payment." This isn't a benefit. It is our money paid out of our earned income! Not only did we all contribute to Social Security, but our employers did too. It totaled 15% of our income before taxes.
If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in social security ($375/month, including both you and your employers' contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved!
This is your personal investment. Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month.
That's almost three times more than today's average Social Security benefit of $1,230 per month, according to the Social Security Administration. (Google it – it’s a fact).
And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.
Instead, the folks in Washington pulled off a bigger "Ponzi scheme" than Bernie Madoff ever did. They took our money and used it elsewhere. They forgot (oh yes, they knew) that it was OUR money they were taking. They didn't have a referendum to ask us if we wanted to lend the money to them. And they didn't pay interest on the debt they assumed. And recently they've told us that the money won't support us for very much longer.
But is it our fault they misused our investments? And now, to add insult to injury, they're calling it a "benefit", as if we never worked to earn every penny of it.
Just because they borrowed the money doesn't mean that our investments were a charity!
Let's take a stand. We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government.
Find a way to keep Social Security and Medicare going for the sake of that 92% of our population who need it.
Then call it what it is: Our Earned Retirement Income.
99% of people won't SHARE this. Will you?
This Blew My Mind

https://scontent-mia3-2.xx.fbcdn.net...5Q&oe=640331E0

Originally Posted by retiredguy123 (Post 2182424)

If you do the same calculation using the lowest income level, you will find that the Social Security benefits would greatly exceed the investment potential for the individual. That is because the Social Security system is a wealth transfer system, and it was never designed to benefit all participants equally.

Originally Posted by Andyb (Post 2182653)

Your exactly right. Thanks for posting. It is very insulting to honest, tax paying citizens. Not to mention it’s taxed, so it’s double taxation. I’ll never receive what I and my employer has put in, back out. Our Government, especially with our current, “out of control spending” administration is a dangerous joke.

Originally Posted by oneclickplus (Post 2182662)

Well, it's all semantics. Technically, it's NOT your money. If it was, you could put it in your will and bequeath it to your kids. But, if you die before collecting, you get nothing (example). Also, everything you (and everyone else) ever paid has already been stolen and spent. Social security (FICA) taxes have been dumped into the general fund for decades and spent on everything from defense to missiles to food stamps to housing for illegal immigrants. It's all gone. There is no trust fund ... no lock box. It's all an accounting trick.

All you have is a promise to get payments from future taxes (and debt). The US Dollar is being destroyed and those payments will eventually be worthless. I encourage all to find / read a book "When money dies" by Adam Ferguson. This house of cards will fall / fail. The dollar and the USA will collapse. Inflation and debt are past the point of no return. This can no longer be fixed - it is a mathematical certainty. The social consequences will be catastrophic.

Think for a moment. If your money becomes worthless, how will you acquire your needs? When the dung comes in contact with the rotating blades, are you ready? If the dollar isn't accepted for food, how will you acquire food. Food shortages are already evident around you. You can live without money, silver, gold. You can not live without food & water.

What they call your social security payments is the least of your concerns.

Originally Posted by Heytubes (Post 2182849)

Guess who made the deciding vote to tax social security at 85%?

Originally Posted by Captainpd (Post 2182665)

And what happens to the money for those who die and never collected?.

Originally Posted by rustyp (Post 2182704)

[/COLOR]

And if I don't break even at the end I will still consider myself a winner being lucky enough to help others that need assistance much worse than me.

Originally Posted by retiredguy123 (Post 2182730)

I agree, and there is no limit on the number of ex-spouses who can collect. As long as the marriage lasted 10 years, the ex-spouses can receive a Social Security check.

Originally Posted by DDToto41 (Post 2182772)

If I had the resources to pay it, I would.

Originally Posted by JoelJohnson (Post 2182646)

If you do the math (I have) you get back what you put in around 5 years (or so) after you start collecting.

Originally Posted by Andyb (Post 2182653)

Your exactly right. Thanks for posting. It is very insulting to honest, tax paying citizens. Not to mention it’s taxed, so it’s double taxation. I’ll never receive what I and my employer has put in, back out. Our Government, especially with our current, “out of control spending” administration is a dangerous joke.

Originally Posted by Lisanp@aol.com (Post 2182776)

Okay - I'll bite...the words "Federal Benefit" set you off, but the word "Social" as in Socialism resonates well with you? Just curious to get the thought process there...

Originally Posted by Haggar (Post 2182788)

Your math is way off - first the social security portion is 12.4%, the other 2.9% is medicare. Second the rates were much lower in prior years and the maximum social security wages limits were much lower. As an example in 1962 the wage limit was $4,800 and the social security rate was 2% (each) so total employer and employee contribution to the system was $192.00 You would be surprised how little you contributed for the benefits you receive if you live a reasonable time.

The problem is people are living longer. - a problem for SS funding. Originally five people contributed to 1 retiree. Now the ratio of people working to retirees is much much lower.

I read about five years that the effective growth rate on social security was about 1.75% per year - a poor investment but in some cases forcing people to make any investment for retirement is a godsend considering left to them they would have had no "benefits:

Originally Posted by srswans (Post 2182812)

Things went bad a long time ago the government moved our SSA funds to the general pool. That was the beginning of the end.

Originally Posted by rustyp (Post 2182893)

Try this on - you get to collect tax free up to the amount you contributed into the system. Once you hit that point you owe regular income tax on any further distributions.

Originally Posted by jimjamuser (Post 2182894)

I am fine with the term "Social Security". I see enough homeless people roaming the streets. Some served in the military, even way back in the Vietnam War. Not everyone is LUCKY enough to live the good life in a "bubble". Sweden and Germany have products that are competitive on the world market - yet people say THEY have more socialism than the US.
.........I wonder how much total propaganda was spent internally and externally to the US to MAKE US citizens HATE the word socialism? And who profited from that exercise?
.........It is easy for a government (any government) to send recruits off to war, but easy to forget about them in their later life and look away from that responsibility.

Originally Posted by tuccillo (Post 2182911)

People should hate socialism. It is a failed economic strategy. Is there any limit to what you believe you are an expert in, but in reality you are clueless?

Originally Posted by tuccillo (Post 2182911)

People should hate socialism. It is a failed economic strategy. Is there any limit to what you believe you are an expert in, but in reality you are clueless?

Originally Posted by JoelJohnson (Post 2182646)

If you do the math (I have) you get back what you put in around 5 years (or so) after you start collecting.

Originally Posted by jimjamuser (Post 2182926)

True that 100% socialism is a failed strategy, but using the US as an example I would GUESS we are about 85% Capitalism and 15% socialism. Which is a GOOD thing. I would GUESS that most of Europe (like Sweden and Germany) is about 75 % Capitalism and 25 % socialism. The amount of Socialism in Europe works for them just like the amount in the US works for us. I am definitely NOT preaching that the US increase the Socialism %. It seems about right to me. If I was deciding what would benefit the US most......I would say to have 100% voting like the Australians do! Next best thing would be to have 8 year max term limits for the Supreme Court.

Originally Posted by jimjamuser (Post 2182929)

Also, that is NOT a nice thing to say. If government is about COMPROMISE, someone that someone disagrees with IS NOT an enemy. The idea is to discuss opposing viewpoints in a rational, polite manner.

Originally Posted by eyc234 (Post 2182941)

:a040::a040: We have said this for years, if you collect SS past 6 years it is not your money. We never included SS in any part of our retirement planning since no Congress has the guts to fix it and we do not count on money we do not control or can logically predict it will be there when we need it. Now it will be a bonus when we decide to take it. Many people will not save and live beyond their means so SS is a lifeline for them.

Originally Posted by oneclickplus (Post 2182662)

Well, it's all semantics. Technically, it's NOT your money. If it was, you could put it in your will and bequeath it to your kids. But, if you die before collecting, you get nothing (example). Also, everything you (and everyone else) ever paid has already been stolen and spent. Social security (FICA) taxes have been dumped into the general fund for decades and spent on everything from defense to missiles to food stamps to housing for illegal immigrants. It's all gone. There is no trust fund ... no lock box. It's all an accounting trick.

All you have is a promise to get payments from future taxes (and debt). The US Dollar is being destroyed and those payments will eventually be worthless. I encourage all to find / read a book "When money dies" by Adam Ferguson. This house of cards will fall / fail. The dollar and the USA will collapse. Inflation and debt are past the point of no return. This can no longer be fixed - it is a mathematical certainty. The social consequences will be catastrophic.

Think for a moment. If your money becomes worthless, how will you acquire your needs? When the dung comes in contact with the rotating blades, are you ready? If the dollar isn't accepted for food, how will you acquire food. Food shortages are already evident around you. You can live without money, silver, gold. You can not live without food & water.

What they call your social security payments is the least of your concerns.

Originally Posted by jimjamuser (Post 2182847)

CHARITY is a "wealth transfer system". So, you could look at SS as the government ensuring that the wealthy become more CHARITABLE than they otherwise might be on their own. Someone might call the progressive tax system (where the rich pay a greater % than the poor) .......might call that a "wealth transfer system". I call it a way to create a BETTER, more stable COUNTRY with a HEART and a Soul. A soul-less country would always say, "let them eat cake".
.......Also, after about 1980 the US tax system has become less progressive and more like a FLAT tax, which benefits the HAVES v the have-NOTS. New Federal programs like the IRAs and the Affordable Care Act (which is #1 in Fl) HAD to be created to avoid masses of people starving and wandering around the streets. These were attempts at the US having......"a heart and soul".
.......And watch what happens if the prediction of a deep recession materializes. Guess who buys up the IN-default homes?

Originally Posted by jimjamuser (Post 2182853)

When I hear the term "double taxation" I SHUDDER all over. The US government (and all governments) basically prevents a Russian invasion, builds Interstate highways, provides health care (ACA), distributes money to people who are OLD or otherwise can NOT earn wages, does scientific research, encourages the purchase of E-vehicles and tries to prevent pollution of the air and waterways. So, I find ALL THAT and more to be VERY positive
........Now, as to how they get their money in through taxes, .......there will NEVER be a PERFECT tax system where everyone is a "HAPPY CAMPER"!

Originally Posted by chrissy2231 (Post 2182288)

The Social Security check is now (or soon will be) referred to as a "Federal Benefit Payment?" I'll be part of the one percent to forward this. I am forwarding it because it touches a nerve in me, and I hope it will in you. Please keep passing it on until everyone in our country has read it.
The government is now referring to our Social Security checks as a "Federal Benefit Payment." This isn't a benefit. It is our money paid out of our earned income! Not only did we all contribute to Social Security, but our employers did too. It totaled 15% of our income before taxes.
If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in social security ($375/month, including both you and your employers' contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved!
This is your personal investment. Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month.
That's almost three times more than today's average Social Security benefit of $1,230 per month, according to the Social Security Administration. (Google it – it’s a fact).
And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.
Instead, the folks in Washington pulled off a bigger "Ponzi scheme" than Bernie Madoff ever did. They took our money and used it elsewhere. They forgot (oh yes, they knew) that it was OUR money they were taking. They didn't have a referendum to ask us if we wanted to lend the money to them. And they didn't pay interest on the debt they assumed. And recently they've told us that the money won't support us for very much longer.
But is it our fault they misused our investments? And now, to add insult to injury, they're calling it a "benefit", as if we never worked to earn every penny of it.
Just because they borrowed the money doesn't mean that our investments were a charity!
Let's take a stand. We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government.
Find a way to keep Social Security and Medicare going for the sake of that 92% of our population who need it.
Then call it what it is: Our Earned Retirement Income.
99% of people won't SHARE this. Will you?
This Blew My Mind

https://scontent-mia3-2.xx.fbcdn.net...5Q&oe=640331E0

Originally Posted by OrangeBlossomBaby (Post 2183103)

Most retirees might or might not know what Social Security is, depending on whether they paid attention to class in grade school when the teacher discussed it. There's nothing magic about Social Security that prevents anyone from understanding what it is, and how it works. I mean this system's been around a really long time, it hasn't ever been a secret, and was even a topic in the World Book Encyclopedia back in the day when people bought the whole set that occupied half a wall in their TV room.

Anyone who is currently retired, and doesn't understand that the money they put in isn't set aside with their name on it for retirement, has chosen to be ignorant. Any retiree who doesn't understand that Social Security is a "pay it forward" system - has chosen not to pay attention. The only fully adult English-speaking Americans who are exempt from being labeled "ignorant" on this topic are the mentally disabled.

The Social Security office can explain it to you. The Social Security website explains it to you. If you choose to ignore facts - well that makes you ignorant, by definition. This isn't rocket science, or high finance.

Originally Posted by OrangeBlossomBaby (Post 2182456)

This "chain letter" has been going around since at least July 2012, over 10 years ago. It was untrue then, and it's untrue now.

Social Security as 'Federal Benefit Payments' | Snopes.com

Originally Posted by Garywt (Post 2183115)

You know, I collect disability since I was 56. I am told at 65 it will be my choice to get SS or stay on disability. Since my disability is currently $3300 I am guess what my choice will be. Of course if I was still able to work we would be much better off but it is what it is. At least I am still alive.

Originally Posted by Love2Swim (Post 2183130)

Agree. I would consider this a political post. Why is it even allowed here?

Originally Posted by tuccillo (Post 2182965)

Yes, you are guessing as you have no clue. Tossing out arbitrary numbers, with no basis in fact, is a waste of time.

Originally Posted by jimjamuser (Post 2183362)

As I have said MANY, many times before, this IS an opinion forum, it is NOT a submission to a Scientific or Sociological paper. I wrote that I guess the US is 85% Capitalism and 15% Socialism (like SS and other programs). If someone can find a link that says something like the US is an 80 / 20 percent blend or a 90 / 10 percent blend......WE would ALL be happy and smarter to read it. I said, "I guess" which I will spell out means that it is ONLY an OPINION given to the BEST of my knowledge and experience (living in America). If it is believed that everything that I ever write is worthless then if that is true....it ALL should be disregarded.
.......As I understand a local forum, it IS like a soapbox for freedom of speech and INDIVIDUAL opinion to be REGARDED OR disregarded as one chooses !

Originally Posted by tuccillo (Post 2183370)

I think that we have already established that.

Originally Posted by jimjamuser (Post 2183362)

As I have said MANY, many times before, this IS an opinion forum, it is NOT a submission to a Scientific or Sociological paper. I wrote that I guess the US is 85% Capitalism and 15% Socialism (like SS and other programs). If someone can find a link that says something like the US is an 80 / 20 percent blend or a 90 / 10 percent blend......WE would ALL be happy and smarter to read it. I said, "I guess" which I will spell out means that it is ONLY an OPINION given to the BEST of my knowledge and experience (living in America). If it is believed that everything that I ever write is worthless then if that is true....it ALL should be disregarded.
.......As I understand a local forum, it IS like a soapbox for freedom of speech and INDIVIDUAL opinion to be REGARDED OR disregarded as one chooses !