[Heytubes]

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

[jimjamuser]

Originally Posted by Andyb

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.

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"!

[jimjamuser]

Originally Posted by oneclickplus

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.

Some uplifting concepts there. I especially liked the "when the DUNG hits the whirling blades (of the fan, I suppose). That would require a room deodorizer.

[Bill14564]

Originally Posted by Heytubes

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

Based on the "tax social security at 85%" portion of your question, my guess is that you don't really know and haven't checked what you read.

In any case the answer is: 1. not pertinent to the discussion; and, 2. political.

[jimjamuser]

Originally Posted by Captainpd

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

That's the beauty of the system........who cares what happens to the money when you die. Maybe in heaven, they trade in Wampum or maybe they don't trade. They just fly around the clouds and laugh at us.

[jimjamuser]

Originally Posted by rustyp

[/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.

Ah, a post with a "heart and soul". How refreshing !!!!!!!!!!!

[jimjamuser]

Originally Posted by retiredguy123

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.

10 years can feel like a lifetime when you pick the wrong spouse as I did with my 1st go around. Also to be put into the equation of FAIRNESS and SOCIAL goodness and stability......back in the 1940s to around 1970, women usually could NOT get a high PAYING job. Their wealth ceiling required them to be nurses or teachers. Many HAD to take waitress jobs if they did NOT have a College education, which MOST did NOT.
.......Fortunately today women have achieved greater parity with men (NOT 100%). Those PAST years were DARK, DIFFICULT decades for many women my mother's age. Let us hope that the FUTURE does NOT have situations like "The Handmaid's Tale".

[jimjamuser]

Originally Posted by DDToto41

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

I wish that I were rich enough to pay that and I would, also.

[JRcorvette]

SS is a slush fund for the Govt to use (waste). You have been ripped off from the day you started working. Because they have stole and wasted so much of the SS Fund there is no way out for the younger people. SS is basically a form of Tax. You get a pitiful return on your investment. They continue to raise the age that you can collect hoping the you never will because you are dead. Hopefully you have planed your own retirement!

[rustyp]

Originally Posted by JoelJohnson

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

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.

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.

[jimjamuser]

Originally Posted by Lisanp@aol.com

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...

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.

[jimjamuser]

Originally Posted by Haggar

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:

Many good thoughts in that post.

[jimjamuser]

Originally Posted by srswans

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

Seems like something I heard very similar about "going off the GOLD standard".

[retiredguy123]

Originally Posted by rustyp

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.

Your plan would only benefit higher income people. The Government doesn't start taxing SS income until your total income exceeds $25K. Most low income retirees pay no tax on their SS income, and many don't pay any income tax at all. The SS system is designed to transfer wealth from high income earners to low income earners. Not the other way around.

[tuccillo]

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 jimjamuser

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.