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)

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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.