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SOCIAL SECURITY

SOCIAL SECURITY

Add to this the number of people who paid in for years, then died before ever drawing a penny of their SSI. Where did our money go? Social Security: This is very appropriate in light of what is going on !!! Remember, not only did you contribute to Social Security but your employer did, too. It totaled

15% of your income before taxes. If you averaged only 30K/yr over your working life, thatâ??s close to $220,500 contributions. If you calculate the future value of $4,500 per year (yours & your employerâ??s contribution) at a simple 5% (less than what the govt. pays on the money that it borrows), after 49 years of working, youâ??d have $892,919.98. If you took out only 3% per year, you receive $2,232.30 per month or $26,787.60 per year and it would last better than 30 years, and thatâ??s with no interest paid on that final amount on deposit! If you had bought an annuity and it paid 4% per year, youâ??d have a lifetime income of $2,976.40 per month or $35,716.80 per year. The folks in Washington have pulled off a bigger Ponzi scheme than Bernie Madhoff ever had. Entitlement my ass, I paid cash for my social security insurance!!!! Just because they borrowed the money, doesn't make my benefits some kind of charity or handout!! Congressional benefits, aka. free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days, now that's welfare, and they have the nerve to call my retirement entitlements !!!!!!..... They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives and now when itâ??s time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? 99% of people won't have the guts to forward this. I'm one of the 1%
Reply to
Ray Keller
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I believe only 60% of social security goes to old people. The other 40% goes to the disabled, widows and orphans.

What makes it a Ponzi scheme is SS taxes are spent on total government expenses as soon as they get it.

Reply to
Frank

=A2s close to $220,500

mple 5% (less than what

% per year, you receive

that final amount on

=A2=E2=82=AC=E2=84=A2d

collect, the government

The operational reality of Federal taxes is that it remove dollars from the dollar economy. =

Those removed dollars are not stored anywhere - they just disappear. =

If the government did not remove dollars from the economy then the new dollars that appear in SS recipients bank accounts every month would be continuously adding to the stock of existing dollars. =

If too many dollars are added it would eventually flood the economy =

with an excess of dollars and that would lead to inflation. =

What does that have to do with Charles Ponzi?

Reply to
jim

I trust, you are not an economist ;)

Reply to
Frank

No I'm a student of Fairy Tales. I study the odd beliefs of those who gained their economic convictions from Fairy Tales.

Reply to
jim

I see, so you're into self investigation then?

Reply to
Scout

What you see and what is real are two different things.

The current Social Security law was passed in

1983 under Reagan and it should have been clear (to anybody that thought on it in 1983) that the extra tax dollars taken from every pay check was not going to make Social Security one single penny more solvent than it was before.

If you wanted to do something about the law, the time to do it was 30 years ago.

All that money taken from all those pay checks is now gone. Anybody with a brain would have understood 30 years ago that the money was not going to be stored or saved.

30 years ago there was absolutely no reason to believe that increasing the Social Security tax then would help pay for social security benefits in the future.

You have to believe in Fairy Tales to think that is possible.

I guess these people thought that when they got to this part of the story somebody was going to wave a magic wand or kiss the frog and turn it into a prince.

Reply to
jim

So you think that since we did not do something about the law 30 years ago, that it is too late now to ever do anything?

Dan

Reply to
dcaster

No. It is not too late now to ever do anything?

However, Increasing the FICA tax in 1983 was always stupid. There is nothing that can be done now to make it less stupid.

The 15% tax on the labor component of goods made in the USA has a lot to do with why some of those goods are now made elsewhere. Removing that 15% tax would result in bringing some jobs back.

Reply to
jim

A better idea would be to open up oil drilling to bring back cheap transportation, shit canning all Government Unions(reducing their pay by

20 percent and no more fat retirements)... Let wages again find their own market level without government or Union interference. If you want more money..Start your own commercial enterprise. Also no retirements or pay past the working terms of any politician Term limits strictly enforced. Arrest and trial for Un-American activities all foreign lobbyist, such as AIPAC. End all dual citizenship's... Herd all illegals out of the country the first time. Liquidate them the second time. The newest Government catch phrase is *Near Borders* manufacturing. Hell...Might even open up immigrations enough to allow white people to come here again.
Reply to
PaxPerPoten

U.S. current oil consumption is about 21 million barrels per day and US offshore drilling currently produces about 1.5 million barrels per day and--and since it gets sold to the highest bidder..and since global consumption currently stands at about 87.4 million barrels per day what this means is that even if we decided to increase the amount of offhore drilling tenfold, it would take more more than a decade to get production on line and still it would barely make a dent in global supply

And after all that, the net effect oil prices would be negligable at best because the OPEC cartel would simply reduce production from it's own wells in order to maintaining existing profitability through supply manipulation.

.
Reply to
PrecisionmachinisT

Transportation is cheap today compared to what it used to be. Wages have gone up more than gasoline.

There was a recent article in the WSJ saying that the U.S. is expected to export more energy this year than it imports. First time in some 60 years.

Dan

Reply to
dcaster

Gunner, do you have a cite for the wages and benefits of the striking employees, or have you once again made up some numbers to fit another of your lies? I remember when you said that California Corrections Officers made over $100,000/yr. I actually looked that one up. You were way off unless they work 80+ hour weeks every week of the year. So, you can see why I might doubt your claims.

Besides, you claim to make $75/hr selling junk shop tools. What do you have to complain about if everything you say is true?

Reply to
Deucalion

I'm willing to fill in for them while they walk the picket line.

Reply to
pyotr filipivich

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