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First Social Security recipient put in $24.75 - got back $22,888 (Limbaugh sides with the left?)
Rush Limbaugh .com ^ | 2/04/05 | The Maha

Posted on 02/04/2005 7:47:20 PM PST by Libloather

Now, I got one more thing on this Social Security business. Apparently some people misunderstood what I said when recently discussing the program. I never said that the first recipients didn't get any benefits. What I said was the first recipients didn't pay into the system or very much. The first recipients of Social Security were pretty much near retirement age or were at retirement age when FDR introduced the program. They were the real, true beneficiaries of this program. That's when it took 16 workers to pay the taxes for those people that had not put anything in the system. Now, even though some people have misunderstood this, let's tell you about the first recipient. Ida May Fuller. "On January 31st, 1940, the first monthly retirement check was issued to Ida May Fuller in Vermont. The first monthly check she got was $22.54. She was a legal secretary. She retired in November of 1939, so basically she got her benefits within 60 days of her retirement. She started collecting benefits in January 1940 at age 65. She lived to be 100 years old, dying in 1975. Ida May Fuller worked for three years under the Social Security program.

"The accumulated taxes on her salary during those three years was a total of $24.75. Her initial monthly check was $22.54. During her lifetime, she collected a total of $22,888 in Social Security benefits, paying in $24.75." Now, it was a deal for Ida May Fuller and that's just how Ponzi schemes work! The first participants get huge payouts. That's the lure to suck everybody else in. Of course in this case, the people had no choice. Their taxes were, you know, after World War II, this stuff was all withheld because that's when withholding started was during World War II, and it proved so miraculously favorable to the government that they never rescinded the withholding law and that's how it got started. I never said that the first recipients didn't get any benefits. What sense would that make? The recipient is a beneficiary. You know, I work really hard here for you people not to listen carefully. I say what I mean. I mean what I say, and I love hearing myself say it when I say it. Now, I've just had to spend three minutes here cleaning up on the part of people who didn't hear what I actually said. They only heard what they wanted to hear me say because they think I make mistakes, but I don't.


TOPICS: Crime/Corruption; Culture/Society; Editorial; Government; News/Current Events; Politics/Elections
KEYWORDS: 22; 2475; 888; back; eib; first; got; left; limbaugh; put; recipient; rush; rushisalwaysright; rushisntaliberal; security; sides; social; socialsecurity; with; zot
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From El Rushbo -

BREAK TRANSCRIPT

You know, folks, I'm sitting here, I'm thinking of a new approach on Social Security. I'm thinking of joining the left. I'm thinking of just agreeing with our friends on the left and doing nothing. Let's just don't do anything, and let's let the program blow up, implode, and go defunct, and then we're rid of it! Yeah, let's just get rid of Social Security. Let's just not do anything and get rid of the program. (Laughter). Now, don't panic in there, Mr. Snerdley. I'm just making a point. Agree with the left, don't do anything, and let the program go under. We got too many government programs as it is. Don't you agree with that? All right. All right. Nothing else needs to be said.

1 posted on 02/04/2005 7:47:21 PM PST by Libloather
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To: Libloather

It's called sarcasm.


2 posted on 02/04/2005 7:50:04 PM PST by rintense
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To: Libloather
(Limbaugh sides with the left?)

No, it's sarcasm.

3 posted on 02/04/2005 7:50:51 PM PST by Graybeard58 (Remember and pray for Spec.4 Matt Maupin - MIA/POW- Iraq since 04/09/04)
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To: Libloather

Your title is very misleading.


4 posted on 02/04/2005 7:51:01 PM PST by aft_lizard (This space waiting for a post election epiphany)
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To: aft_lizard
Your title is very misleading.

How so?

5 posted on 02/04/2005 7:54:18 PM PST by Libloather (Liberalism is preventable - apathy is lethal...)
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To: rintense

my head hurts!

i heard rush do that segment, and it was excellent, as always.

as he said, some people had already called up accusing him of saying stuff he didn't say.

and so here, too.


6 posted on 02/04/2005 7:54:34 PM PST by ken21 (most news today is either stupid or evil.)
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To: Libloather

I do believe El Rushbo was indulging in a little sarcasm


7 posted on 02/04/2005 7:55:33 PM PST by fastattacksailor ( I am)
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To: aft_lizard

Got'cha to read it, din'nit....


8 posted on 02/04/2005 7:58:09 PM PST by pooh fan ("Strong, the pull of the Dark Side is". Yoda)
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To: ken21
...accusing him of saying stuff he didn't say. and so here, too.

Straight from the transcript on El Rushbo's own website -

"I'm thinking of joining the left."

9 posted on 02/04/2005 7:58:19 PM PST by Libloather (Liberalism is preventable - apathy is lethal...)
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To: Libloather

And that shows again that the Right is more humane than the Left. Privatizing social security is nothing else but a sincere effort to SAVE the system. It has always been said that us in the Right have the brains, and our friends in the Left have the hearts. On this one we have the exclusivity on BRAINS and HEARTS.


10 posted on 02/04/2005 7:58:28 PM PST by Kurt_D
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To: rintense

Social Security is a great program that's what all the congresscritters depend on for their retir........doh !


11 posted on 02/04/2005 8:02:06 PM PST by Squantos (Be polite. Be professional. But, have a plan to kill everyone you meet. )
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To: Libloather

Straight from the transcript on El Rushbo's own website -

"I'm thinking of joining the left."

Did you listen to the show, or just read the transcript?

He said he was thinking of joining the left, so Social Security would be destroyed once and for all.


12 posted on 02/04/2005 8:06:33 PM PST by UNGN (I've been here since '98 but had nothing to say until now)
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To: UNGN; ken21; aft_lizard
He said he was thinking of joining the left, so Social Security would be destroyed once and for all.

So he DID say it! (I thought I was just hearing things...)

13 posted on 02/04/2005 8:09:51 PM PST by Libloather (Liberalism is preventable - apathy is lethal...)
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To: Kurt_D
On this one we have the exclusivity on BRAINS and HEARTS.

Brains say "abolish it".

14 posted on 02/04/2005 8:11:00 PM PST by Physicist
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To: Libloather

As a chapter of his first book (The Way Things Ought To Be) was titled, Rush was just "Demonstrating Absurdity by Being Absurd."


15 posted on 02/04/2005 8:12:25 PM PST by mwyounce
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To: Physicist

Abolition is a rather harsh term. I would settle for gradual PRIVATIZATION. The goal should be, nevertheless, a COMPLETE privatization. In other words, private retirement funds instead of state-sponsored social security.


16 posted on 02/04/2005 8:14:25 PM PST by Kurt_D
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To: Libloather
(Limbaugh sides with the left?)

No - it's called sarcasm. Good grief.

17 posted on 02/04/2005 8:14:27 PM PST by Republican Wildcat
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To: Libloather

Once again: It's called sarcasm.


18 posted on 02/04/2005 8:15:50 PM PST by Republican Wildcat
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To: Libloather
that's just how Ponzi schemes work! The first participants get huge payouts.

Do you not know what a Ponzi scheme is? It is basically a pyramid scheme invented by a con man about 100 years ago.

19 posted on 02/04/2005 8:21:00 PM PST by Blood of Tyrants (God is not a Republican. But Satan is definitely a Democrat.)
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To: Physicist
Brains say "abolish it".

BUMP!

20 posted on 02/04/2005 8:26:05 PM PST by PGalt
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To: Libloather
At least Ida was a working woman who drew some well-deserved benefits for her contribution to society. And I'm glad she lived to a good age and enjoyed that money. I don't begrudge her a dime.

It's the people who cheat on SSI and never work, even tho they could, are the ones that I begrudge the money.

21 posted on 02/04/2005 8:29:31 PM PST by Ciexyz (I use the term Blue Cities, not Blue States. PA is red except for Philly, Pgh & Erie)
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To: Libloather

Some one (with a lot more math ability than I) should develop this scenario for a 20 year old entering the workforce today with an average income. How much would 12 percent of his or her salary taken over 45 years add up to? And what would be the expected payout with twenty years of life expectancy. I'll bet there's a big loss.


22 posted on 02/04/2005 8:31:42 PM PST by gogipper
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To: Libloather

If you've nothing else to do tonight, grab a dictionary, and look up "sarcasm" and "humor" and then try to understand the concept of illustrating absurdity with further absurdity. Unless this was the intention of the original post.


23 posted on 02/04/2005 8:33:36 PM PST by Soul Seeker
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To: Libloather

I think Rush is being half-serious.

It's the more-pain-later-but-at-least-it'll-be-dead option: Let SS go bankrupt.


24 posted on 02/04/2005 8:35:14 PM PST by k2blader (It is neither compassionate nor conservative to support the expansion of socialism.)
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To: gogipper
The Heritage Foundation Social Security Calculator will answer your questions.
25 posted on 02/04/2005 8:36:32 PM PST by ProtectOurFreedom
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To: Libloather
"I'm thinking of joining the left."

Pure sarcasm. Don't take it out of context.

26 posted on 02/04/2005 8:36:52 PM PST by PistolPaknMama (Will work for cool tag line.)
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To: Libloather

Interesting.


27 posted on 02/04/2005 8:40:18 PM PST by zeaal (SPREAD TRUTH!)
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To: Libloather
Rush Limbaugh does not like social security. He thinks there is no reason that people shouldn't get rich like him and save money for retirement. Some of us have paid a lot of money into SS and the government has an obligation to pay. Limbaugh believes its an undeserved entitlement.

Limbaugh is the reason I became a conservative, but the more I listen to him the more I realize that he's not as smart as he think he is. He a lousy debater. Michael Medved is better. Hell, he can't pick a NFL payoff winner.

Rush Limbaugh, a legend in his own mind.

28 posted on 02/04/2005 8:59:56 PM PST by PolishProud (A little song, a little dance, a little seltzer down your pants)
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To: Libloather
Let's just don't do anything, and let's let the program blow up, implode, and go defunct, and then we're rid of it! Yeah, let's just get rid of Social Security. Let's just not do anything and get rid of the program. (Laughter).

(Humor) Like in the 'cowboy' from the movie "Dr. Strangelove", Limbaugh has learned to love the (socialist) 'bomb'.

29 posted on 02/04/2005 9:05:44 PM PST by Paul C. Jesup
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To: PolishProud



Wow, I used the social security calculator link that was posted and tweaked it to how I would advise my 20 year old son. It is really an eye opener.



You can expect to pay $676,864 in Social Security taxes over your working life for retirement and survivors benefits. For those taxes, you can expect to receive $3,361 a month in Social Security retirement benefits. Your rate of return under today's Social Security is -0.69%.

However, if you had been able to invest all of your Social Security taxes in a Personal Retirement Account (PRA), you would have had a total of $3,014,171 when you retired. Your monthly benefits would have been $24,553. You lost $21,192 a month.


Polish proud, no one has said that those of us who are upwards in age shouldn't get the benefits that have been promised. The only ones who I hear talk about reduced benefits are the liberals who think its just hokey dokey that benefits should be reduced when the system starts to go broke. To them there's no problem, the government giveth and the government taketh away.

But shouldn't we make it more fair for today's kids? And shouldn't we help develop our economy by building wealth? Read about Chile's social security reform. Its phenomenal.


30 posted on 02/04/2005 9:17:03 PM PST by gogipper
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To: Kurt_D
I would settle for gradual PRIVATIZATION. The goal should be, nevertheless, a COMPLETE privatization.

Totally agree.

31 posted on 02/04/2005 9:21:35 PM PST by skinkinthegrass (Just because you're paranoid, doesn't mean they aren't out to get you :^)
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To: gogipper
You can expect to pay $676,864 in Social Security taxes over your working life for retirement and survivors benefits. For those taxes, you can expect to receive $3,361 a month in Social Security retirement benefits. Your rate of return under today's Social Security is -0.69%.

And if you, heaven forbid, croak one day before the proper retirement age (which can change whenever Washington decides to change it), the gubmint keeps the loot, unless there are survivors. The total scam...

32 posted on 02/04/2005 9:22:28 PM PST by Libloather (Liberalism is preventable - apathy is lethal...)
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To: PolishProud
Hell, he can't pick a NFL payoff winner.

That remark, will get Rush's attention.

33 posted on 02/04/2005 9:24:42 PM PST by skinkinthegrass (Just because you're paranoid, doesn't mean they aren't out to get you :^)
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To: Libloather

You are obviously clueless.


34 posted on 02/04/2005 10:06:59 PM PST by Shortstop7
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To: Shortstop7; Libloather
-You are obviously clueless.

Libloather is having fun - He/she is not dumb.

35 posted on 02/04/2005 10:16:06 PM PST by Graybeard58 (Remember and pray for Spec.4 Matt Maupin - MIA/POW- Iraq since 04/09/04)
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To: Libloather

Are you for real?


36 posted on 02/04/2005 10:51:28 PM PST by It's me
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To: PolishProud

SS *is* an undeserved entitlement. What are you, a Demorat?


37 posted on 02/05/2005 12:03:30 AM PST by k2blader (It is neither compassionate nor conservative to support the expansion of socialism.)
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To: Libloather; All
  -- The way we're going to win this debate is by using the democrat's words against themselves. We already have FDR, Reid, and Clinton on board.
 
 Bill Clinton's 1998 State Of Union Address. VIDEO (Opens door to partial privatization of Soc. Sec.?
 
 
 Dingy Harry Reid Searchlight Flashback,1998 & 99 OK to put money in private to solve Soc Sec crisis
 
 Clinton urges voters to save Social Security (1998)
 
 President Clinton's Remarks on Social Security- 2000
 
 
 Reid Supported Private Accounts in 1999 -- Especially FDR's quotes.
 
 Dick Morris: Finessing Social Security -- Anybody who didn't see it tonight, don't miss the rerun of Brit Hume's show.
They have TAPE of FDR advocating private accounts in 1935.
And, as a bonus, Harry Reid in 1999 advocating them, too!  
 
 Social Security Alternative Already Working in Texas
 
 CHILE RETIREMENT ACCOUNTS On Social Security and Pension Reform: Lessons from Other Countries


38 posted on 02/05/2005 12:24:40 AM PST by backhoe (-30-)
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To: Kurt_D

If either side was humane at all, we'd be talking about ending the system entirely. Stealing Americans' money so the government can pay for those who didn't prepare for their own retirements or insure themselves for catastropic illness is wrong, no matter how much we think those people deserve charity. Forcing charity from people who would spend that money on other things isn't charity at all--it's extortion.


39 posted on 02/05/2005 12:58:22 AM PST by LibertarianInExile (NO BLOOD FOR CHOCOLATE! Get the UN-ignoring, unilateralist Frogs out of Ivory Coast!)
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To: Libloather
He's right. Come to think of, its a good idea. No more government handouts to worry about! (laughing) Perhaps we should all sign up at DU. (laughing harder)

Denny Crane: "There are two places to find the truth. First God and then Fox News."

40 posted on 02/05/2005 1:38:44 AM PST by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives On In My Heart Forever)
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To: Libloather
The Left is part of the Vast Right Wing Conspiracy. They just don't know it yet - that they're led around blindfolded by those lousy Freeper Trolls. (wink)

Denny Crane: "There are two places to find the truth. First God and then Fox News."

41 posted on 02/05/2005 1:41:21 AM PST by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives On In My Heart Forever)
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To: Blood of Tyrants
Yes! Social Security is basically a con game. The Left would be opposed to it if President Bush proposed it today because it IS a con game. Like DUH.

Denny Crane: "There are two places to find the truth. First God and then Fox News."

42 posted on 02/05/2005 1:43:22 AM PST by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives On In My Heart Forever)
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To: Libloather
You have taken one line out of context and COMPLETELY distorted the message. Are you an imbecile or do you simply have an agenda?

People on this cite aren't stupid. It takes one second to expose a post like yours. Why would you bother? You either believe your own words (in which case I seriously question your IQ) or you are a troll (in which case you should be seriously told where to go.)

Intellectual honestly MEANS SOMETHING around here.

43 posted on 02/05/2005 6:00:56 AM PST by N. Beaujon (I)
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To: N. Beaujon; It's me
You have taken one line out of context and COMPLETELY distorted the message.

From the Rush Limbaugh show - and from the Rush Limbaugh transcripts from the Rush Limbaugh website -

You know, folks, I'm sitting here, I'm thinking of a new approach on Social Security. I'm thinking of joining the left. I'm thinking of just agreeing with our friends on the left and doing nothing. Let's just don't do anything, and let's let the program blow up, implode, and go defunct, and then we're rid of it! Yeah, let's just get rid of Social Security. Let's just not do anything and get rid of the program.

If that's what it takes, I'm more than willing to side with the left as well. How about you two?

44 posted on 02/05/2005 6:17:45 AM PST by Libloather (The left is dead! Long live their impeached *King and *Queen!)
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To: Libloather
Your title is very misleading. How so?

You are a GENIUS! You are the Most perceptive, discerning,penetrating ,perspicacious,sharp-witted person who has ever lived !!!!

/sarcasm

45 posted on 02/05/2005 6:22:48 AM PST by Nonstatist
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To: Nonstatist
You are a GENIUS!

About damn time someone said it. Thanks...

46 posted on 02/05/2005 6:26:50 AM PST by Libloather (The left is dead! Long live their impeached *King and *Queen!)
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To: LibertarianInExile

I agree 100% with you. Nevertheless, I understand that we Libertarians are a minority and a huge chunk of the population does like big government. In order to successfully privatize social security and prevent any major catastrophe (like Democrats winning in 2008) during the process we need to gradually phase this system out.


47 posted on 02/05/2005 6:44:40 AM PST by Kurt_D
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To: Libloather

He was joking (I refer to the part you highlighted and evidently took seriously). He called SS a ponzi scheme and was pointing out how the first recipients received a huge amount compared with the little they put in.

Some of us actually heard the show.


48 posted on 02/05/2005 6:51:02 AM PST by cyncooper
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To: cyncooper

"He called SS a ponzi scheme and was pointing out how the first recipients received a huge amount compared with the little they put in."

No question about it!

In a little over 2 years i've collected more than I ever put in.

I started paying into it in 1952 at 14 and rescheduled my income from wages to all rental in 1978 and quit paying into it.

I did it to avoid the payroll taxes not even thinking about collecting anything at the end of the line.


49 posted on 02/05/2005 7:07:17 AM PST by dalereed
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To: Libloather

and I'm gonna win the Lottery!

Too bad you didn't listen to Shaun Hannity last April 1st!


50 posted on 02/05/2005 7:13:07 AM PST by not2worry (What goes around comes around!)
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