Would welfare be a thing of the past?.. if:

Closed Thread
Thread Tools
  #16  
Old 02-21-2012, 11:49 AM
jebartle's Avatar
jebartle jebartle is offline
Sage
Join Date: Mar 2009
Location: LaZamora Village
Posts: 4,801
Thanks: 210
Thanked 1,163 Times in 436 Posts
Default I'm sooo proud of TOTV posters

See we all have common ground, irregardless of party.....
  #17  
Old 02-21-2012, 12:10 PM
buggyone's Avatar
buggyone buggyone is offline
Sage
Join Date: Aug 2011
Posts: 5,358
Thanks: 0
Thanked 3 Times in 3 Posts
Default

Your Social Security contribution was about 7% of your pay. Chances are (a Johnny Mathis song?) that your lifetime benefits from Social Security will greatly out do your contributions.

I know in the case of my 20% VA disability check that it has paid me a heck of a lot more in the 40 years that I have been out of the Army than all the monthly salary checks I received during the 3 years in the Army.

My mother received survivor benefit check for about 30 years from the government after my father passed away. I am sure that was more than he earned during his time as a government employee.

Figure it out. If you worked for 40 years with an average salary of $35,000, you would have contributed $105,000 (at 7.5%) to FICA. You start collecting at age 62 and live until 80. That is 18 years. The first $5,800 per year is what you contributed. I read the average SS pay check is $1600 per month. That is $19,200 per year or $13,400 MORE than what was contributed. No, your Social Security benefits are far more than what you ever paid into the system! Social Security is a form of government welfare! Quit complaining about welfare until you start returning all the excess of your Social Security check.
  #18  
Old 02-21-2012, 12:24 PM
philnpat's Avatar
philnpat philnpat is offline
Veteran member
Join Date: Sep 2008
Location: Clifton Park, NY and soon to be Duval
Posts: 814
Thanks: 94
Thanked 16 Times in 5 Posts
Default

Quote:
Originally Posted by buggyone View Post
Your Social Security contribution was about 7% of your pay. Chances are (a Johnny Mathis song?) that your lifetime benefits from Social Security will greatly out do your contributions.

I know in the case of my 20% VA disability check that it has paid me a heck of a lot more in the 40 years that I have been out of the Army than all the monthly salary checks I received during the 3 years in the Army.

My mother received survivor benefit check for about 30 years from the government after my father passed away. I am sure that was more than he earned during his time as a government employee.

Figure it out. If you worked for 40 years with an average salary of $35,000, you would have contributed $105,000 (at 7.5%) to FICA. You start collecting at age 62 and live until 80. That is 18 years. The first $5,800 per year is what you contributed. I read the average SS pay check is $1600 per month. That is $19,200 per year or $13,400 MORE than what was contributed. No, your Social Security benefits are far more than what you ever paid into the system! Social Security is a form of government welfare! Quit complaining about welfare until you start returning all the excess of your Social Security check.
I, as of yet, have not started collecting SS...it's not guaranteed...tomorrow I might not survive a roundabout and would not collect anything!
  #19  
Old 02-21-2012, 01:28 PM
ceejay's Avatar
ceejay ceejay is offline
Veteran member
Join Date: Apr 2009
Location: The Village of Amelia
Posts: 782
Thanks: 0
Thanked 2 Times in 1 Post
Thumbs down

I have a question....

What happens to the money in the Social Security fund that is NOT distributed to its' rightful beneficiary?

Case in point...my husband died at age 53 after paying into it for his whole life. All I received from Social Security was a $250 death benefit. Whip-de-do.

I'm sure that there are many, many people who died whose family never saw a cent of that money.

Yes, I know that survivors with young children receive it until they reach a certain age. Or that I can collect on it when I turn 62 as long as I don't remarry (which is another discussion).

I wonder what the funds are in that category...any answers?
__________________
Buffalo...Staten Island...New Jersey...The Village of Amelia!
  #20  
Old 02-21-2012, 01:34 PM
jbdlfan's Avatar
jbdlfan jbdlfan is offline
Veteran member
Join Date: Jan 2009
Location: The Villages
Posts: 612
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by buggyone View Post
Your Social Security contribution was about 7% of your pay. Chances are (a Johnny Mathis song?) that your lifetime benefits from Social Security will greatly out do your contributions.

I know in the case of my 20% VA disability check that it has paid me a heck of a lot more in the 40 years that I have been out of the Army than all the monthly salary checks I received during the 3 years in the Army.

My mother received survivor benefit check for about 30 years from the government after my father passed away. I am sure that was more than he earned during his time as a government employee.

Figure it out. If you worked for 40 years with an average salary of $35,000, you would have contributed $105,000 (at 7.5%) to FICA. You start collecting at age 62 and live until 80. That is 18 years. The first $5,800 per year is what you contributed. I read the average SS pay check is $1600 per month. That is $19,200 per year or $13,400 MORE than what was contributed. No, your Social Security benefits are far more than what you ever paid into the system! Social Security is a form of government welfare! Quit complaining about welfare until you start returning all the excess of your Social Security check.
You stole my thunder! Many will take more than they ever paid in.
The whole idea of drug testing for Welfare should scare the daylights out of everyone. Am I the only one that sees that as an invasion of privacy and giving up our personal liberties? I don't do drugs and have no plans to ever do them. But I certainly don't want the taxpayers paying for a drug test. Hey, how about testing college students in order to get student loans and grants. I know, how about we test for the Homestaed Exemption (we'll check vision and alchohol for that one) or teachers and firefighters.....I'd suggest Congress, but I actually agree with that one!
  #21  
Old 02-21-2012, 02:56 PM
KayakerNC's Avatar
KayakerNC KayakerNC is offline
Platinum member
Join Date: Jul 2008
Posts: 1,879
Thanks: 0
Thanked 2 Times in 2 Posts
Default

Quote:
Originally Posted by ceejay View Post
I have a question....
What happens to the money in the Social Security fund that is NOT distributed to its' rightful beneficiary?
Case in point...my husband died at age 53 after paying into it for his whole life. All I received from Social Security was a $250 death benefit. Whip-de-do.
I'm sure that there are many, many people who died whose family never saw a cent of that money.
Yes, I know that survivors with young children receive it until they reach a certain age. Or that I can collect on it when I turn 62 as long as I don't remarry (which is another discussion).
I wonder what the funds are in that category...any answers?
You could consider it a mortality credit AKA mortality yield. Contributions paid by those who die earlier than expected contribute to the overall pool and help provide an increased return to survivors.
Too bad the "Lock Box" doesn't have a politician proof lock.
__________________
KayakerNC
Mt Clemens, MI
Newport, NC
Suffering from TV envy
  #22  
Old 02-21-2012, 04:26 PM
kandj's Avatar
kandj kandj is offline
Senior Member
Join Date: May 2009
Location: Summerchase Cottages
Posts: 156
Thanks: 11
Thanked 4 Times in 1 Post
Unhappy

I paid Social Security contributions for the last 45yrs through a payroll tax. This paid for my parents ss. Now it is my time. I went without a lot of things. Worked two jobs of 40hr overtime sometimes, seven days a week sometimes both. I got layed-off sometimes, so I took anything I could find even at a lot less pay than what I had been making.
My son went to college. When he left 911 happened so he enlisted. He makes about 45K a yr with BAH and has to pay taxes on it He has a wife and two childen. If he was on welfare, he would get housing paid for. Food card so that is paid for. He does not get that. Utilites like oil heat and electric they don't pay him for that.They give a cell phoneto welfare recipients too. He dose not get that. And in most cases they get 15K or more for spending money. He does not get that. Clothing allowance for Kids - He does not get that. He is drug tested, if he test positive he gets housing in Levenworth. Alcohol - 3 beers in one 24hr time he will lose good conduct and a pay raise and could be kicked out.His Wife can not work a regular job becase he can be called on duty anytime and has to go. He can be relocated anywere at anytime they want him too. Sometimes he will joke that welfare might be a raise in his economic ladder.
Most of our service members live like this and noone worries about their feeling or self-esteem. Military families are providing us with a service. Why should welfare famlies live better than the military families? Something is VERY wrong with this picture!

God Bless are military members and their families.
Jim
__________________
Kim & Jim

N. Reading, MA; Hampstead, NH; last stop SummerChase Cottages,TV!

Last edited by kandj; 02-22-2012 at 10:07 AM. Reason: spelling
  #23  
Old 02-21-2012, 04:26 PM
buggyone's Avatar
buggyone buggyone is offline
Sage
Join Date: Aug 2011
Posts: 5,358
Thanks: 0
Thanked 3 Times in 3 Posts
Default

CeeJay,

Are you sure you were not entitled to any Social Security at the time of your husband's passing away and you have to wait until you are 62?

One of my friends was killed in a store robbery many years ago. His two sons (6 and 8) were paid monthly benefits until they got to college. His widow found a boyfriend and has continued living with him for about 27 years now - never married. I don't know if this was soley because SS benefits would stop for the boys if she remarried or if she was also getting SS benefits.

I know several people here in The Villages living together but not married for reasons of alimony, pensions, or Social Security benefits.
  #24  
Old 02-21-2012, 04:35 PM
janmcn janmcn is offline
Sage
Join Date: Oct 2011
Posts: 5,298
Thanks: 0
Thanked 2 Times in 2 Posts
Question

Widow's benefits start at age 60 is what I recollect.
  #25  
Old 02-21-2012, 08:19 PM
Hal :-) Hal :-) is offline
Senior Member
Join Date: Jul 2010
Posts: 170
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by buggyone View Post
......
Figure it out. If you worked for 40 years with an average salary of $35,000, you would have contributed $105,000 (at 7.5%) to FICA. You start collecting at age 62 and live until 80. That is 18 years. The first $5,800 per year is what you contributed. I read the average SS pay check is $1600 per month. That is $19,200 per year or $13,400 MORE than what was contributed. No, your Social Security benefits are far more than what you ever paid into the system! Social Security is a form of government welfare! Quit complaining about welfare until you start returning all the excess of your Social Security check.
I accept your calculation but Social Security is an Insurance program, just like private industry. The I in FICA is Insurance. Private insurance companies turn premiums into benefits everyday. It's their job to keep it in balance. Social Security was designed to do the same. The FICA "Premiums" are exactly like private insurance premiums. They come from after-tax dollars. On the benefit side, just like private insurance, some win, some lose.

By law Social Security must be actuarially sound. They can not borrow money. Hence, in recognition of the impending Boomer Bubble, excess contributions were collected and the system is set to pay full benefits for about the next 30 years. Sadly, most of us will no longer be around at that point.

To your point, some of us may not need the full benefit and maybe it should be limited or completely eliminated. My classic example is Ronald Reagan. When he took office at age 70, he reach max benefit and his checks automatically arrived at the White House every month. Clearly, he was entitled, since he paid the premiums all those years. But, maybe there's a better way.
Closed Thread

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 02:58 AM.