I he could not get his life together because of Social security, I believe he is pretty much a loser. Sorry but Social Secuirty is a small part of the overall tax base. I am one of the few that likes Social Security and happy that people have the opportunity to have it at retirement. They work for it afterall. I hope Social Security lasts forever. It is the only program besides the military I agree with financing.
Carolyn
Wow....did you miss the point, or what??
Militant
You have to live to collect it. Someone could pay into SS for 50 years, die at age 67, and never collect a dime except for a small burial allowance.
WEll then you're just a jerk. FYI, he's 48 and it isn't over yet. So what is it about government largesse that you embrace so willingly?
The combined employee and employer tax rate is 15.3% Many low- and moderate-income workers pay more into SS than in federal income taxes. The SS system has a negative net present value for almost every full-time worker who was born after 1953.
Hardly a loser.
He’s a very popular local talk show host.
I would hope your response was sarcasm.
Your right, we work for it but do you know ANYONE who has gotten back ALL of what they put in?
And if it's so damn great then why don't they give it ALL back to you in one lump sum? I'll tell you why, because they have squandered it!
The sheeple have been lead to slaughter.
Bull! The Social Security Administration is expected to spend over $600B in 2007, second only to Health and Human Services, and more than the entire Department of Defense.
Also, unlike income taxes, which are paid almost entirely by the rich and upper middle class, the Social Security Administration is funded primarily by the much larger numbers of lower wage earners. It's negative impact is much greater for these people, and is twice what it appears to be, when looking at a paycheck stub.
If it's such a good deal, why isn't it voluntary?
You, by definition, are a socialist! From those who have to those that have not. Hillary is your gal.
I would disagree with your belief that you are one of the few. There is a minority that have no faith in SS. I am one of the minority. By the time I retire, I believe our government will have decided that I don't "need" SS and it would be better distributed to others. It is the direction our government has been and continues to go. It is the sellable alternative. My SS check states that the benefits listed are not scheduled to be available and are not guaranteed.
You have 20 years in the military and a pension coming. I don't suspect you are worried about SS. What about your children? Have you taught them to rely on SS? Or have you instead taught them to ignore what the government has promised you and plan on providing for yourself in your final few years? Anything the government tosses your way is bonus when you hit 70 years old, provided you live that long.
I went to a funeral today for a dear family member. He was 69. He may be one of the hardest working and generous people I have ever known. He ran a family business his whole life. Guess what happened to all his SS contributions today. Bye-Bye. It's a small windfall for our government that my cousin died today. It's one less promise they have to honor.
You are either badly misinformed or in the greatest generation who forced this generational Ponzi scheme on us. Low wage workers without working spouses also do well with social security. Social security is a vast income redistribution scheme. Government has no busines providing retirement income except as a welfare program of last resort. Social security has robbed the typical worker the ability to save for their own retirement. It is not difficult to calculate the wealth that the typical worker would have accumulated if social security taxes (both employee and employer) were invested instead of being taken as taxes. The worst part is that social security will require a combination of massive tax increases and benefit cuts.
The money I am putting into Social Security would be approximately $5,000,000 if I were allowed to invest it myself (conservatively). Somehow I don't think I will be living a $5,000,000 lifestyle on my Social Security checks...
Why do you like this insufferable, socialist Ponzi scheme? It is no more than a tool of the hard left to keep us dependent on government, which is cool if you like ever bigger government, but shameful if you call yourself a conservative and honor the Constitution.
If you actually believe that socialist security can last more than 15 or 20 more years you need a serious learning in the nature of money, fractional reserve banking and fiat currency...
One of the primary reasons Nanny G is pulling the inflationary wool over our eyes right now is because if they disclosed the true rate it would bankrupt SSI in a matter of years.
Perhaps you should buy a calculator and learn to use it. Once you’ve learned to use it, compare the yields of SS versus self-managed investments, and get back to us. If after this you still support Social Security, you have a mental illness.
Are you sure you’re at the right place?!!!!Its called FREE republic for a reason...SHEESH!!!
Social Security is a pyramid scheme, and would have been illegal if any one else were running it!
Social security as a privately funded personal investment fund would be fine and a good idea. What it is now is trash and a ponzi scheme that is dumping a mount of debt on my generation (I’m 26) that can probably never be repaid. Thanks a lot.