Posted on 09/21/2023 11:00:06 AM PDT by ChicagoConservative27
Seniors are not a group you want to screw with. They will hurt you-bad.
Lets take away the pay for CONgress and the problems would be solved quickly.
The authors of this news story are simply employing "scare tactics", as usual, in order to create an unwarranted fear.
They also have paid into those benefits all their working lives-just like you and I and everyone else who works for a living-I work for myself, still pay in every year I make enough to pay those SS taxes-and I will all my life as long as I work-so will you unless you just go lie around on your ass at the age of 65 instead of working.
If you want to throw down on someone getting benefits, go after the EBT cardholders, the mediCAID recipients and those who wrongfully suck up SSDI for their supposed mental traumas, etc-they are not paying in one dime like we taxpayers are...
No, they didn't.
They just paid taxes, like everyone else. Just not enough taxes to actually cover government spending (ergo 33 trillion dollar debt).
Supreme Court declared in Flemming v Nestor that you have no property right to Social Security. It's just a welfare program and Congress can (and will) change the rules whenever they want.
“Supreme Court declared in Flemming v Nestor that you have no property right to Social Security. It’s just a welfare program and Congress can (and will) change the rules whenever they want.”
Correct.
What the Supreme Court did not address is the fact that politicians lied and lied and lied and lied and lied some more about it—and that is why so many Americans believe so much about Social Security that is just not true.
Bingo!!!
Well said!
Call it the "work for a lliving Law.......what a concept.
Likewise, across-the-board reduction of Government size/employment by 75% would be a good start, too.
I always thought that food represented one of the larger categories in figuring the CPI...
No. Social security benefits are paid from another set of funds. The checks go out automatically.
The portion of those taxes that goes to SS is not negotiable-employer matches what you pay in-while you have no property rights to it, it is not welfare-welfare is something you receive without ever paying into the fund-like mojados and welfare queens-those people never paid into medicaid, either, but they collect it-you and I are the ones who paid for their EBT, medicaid, etc with our taxes taken out of our paychecks/business receipts.
I collect fees from customers for the services that I provide-I also pay taxes on that income-but I don’t collect any funds from government sources that my husband or I didn’t pay into-do you?
You make a good point. Social Security is NOT any kind of ‘charity’. Those of us who paid into it over decades have EARNED it.
Thank you-I thought everyone knew why there are 2 different tax deductions on a paycheck-and why one is marked “FICA” and the other “WH”, but maybe not everyone knows they go into 2 different fed tax accounts...
What taxes are negotiable?
SSI has always been a Ponzi, where the tax proceeds were always spent on beneficiaries and any leftover ‘invested’ in treasuries to just ‘earn’ more taxes. Nothing productive generated the returns on ‘contributions’.
As with any Ponzi, the first waves of folks made out like bandits. I’m one of the folks born after 1975 that under the current benefit schedule can expect to get back less than what I contributed. And that is ignoring the structural deficits ahead as Boomers continue to draw down faster than the payroll taxes fill the ‘trust fund’.
Benefits can be cut back to about 77% of scheduled with the existing tax rate. The future will be a compromise of reduced benefits and increased taxes. I’ll just be farther in the losing side of this Ponzi FDR foisted on the country.
“Those of us who paid into it over decades have EARNED it.”
Well—sorta kinda....
A better analysis would be if you the local Mafia boss has extorted money from you for forty years but promised you would get it back when you got to be old....
Did you “earn” it....lol.
Yes it is a ponzi scheme-but if the money were really in its own account and invested it would still gain interest-and it would not need numerous payees to support each benefit recipient like it does now.
Also-there is no real lockbox like Al Gore lied about-SS payments go into the “general fund”, which is of course just a piggy bank that gets robbed every time the feds want something right away-it also funds social security disability payments, and who-knows-what else-it is not a separate fund-and it certainly is not a trust fund of any kind.
The birth rate has been down-and dropping for several decades now, so there are not enough people paying in to sustain the system forever. I’d be cool with everyone-working or not-to have their actual dollar contributions transferred to a safe investment to accrue interest each month, with the recipient getting the interest amount each month as income, or leaving it to gain more interest-your choice. But that would make too much sense...
We really need to let people invest their own SS money-it is the only way to take the greedy fed hands off at least that part of OUR money-I’d vote for that in a heartbeat...
We certainly earned the money we paid into it.
I’m sure there are lots of people who would have preferred NOT to pay into it - they could have used the money to better profit.
But there are many who are glad to have it now, even though for many it’s a pittance. It was a deal we made in good faith, beginning when people could still have faith in government.
This is an interesting story about the first person to receive SS benefits:
https://www.history.com/news/first-social-security-check
I was thinking I had read sometime back that they wanted to incorporate all the 401K funds into Social Security. Seems to me that if they did, then folks with 401Ks would just quit paying into them so that plan wouldn’t last very long. Basically, it would mean that folks who paid into 401Ks to help extend S.S. would not be doing themselves any favors as they would still only be able to draw out of one fund. Now, it’s possible that things might get rearranged if our politicians saw all that extra money getting fed into the system,too. Not being an expert on this, it is only my opinion.
There have been White Papers going around for years about doing that. You hear about it for awhile, and then you don’t; until you do again.
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