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As of Friday, November 23, 2012
© Copyright 2014
Do not put my Social Security under entitlements. It’s earned retirement I started banking in 1942.It was not supposed to be used for any other purpose until our “leaders” dipped into it with IOUs.
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I agree with what this Squawker is saying and wish it were true. Unfortunately, just like ALL government "programs", money is taken from those who have it and redistributed to those who do not have it. Many times they do not have it because they squandered the money they DID have while others lived frugally within their means.
Secondly, the Government WRONGLY sees ALL money as belonging to the Government, not the citizen. As for Social Security......it's a TAX (just look at your pay stub and W-2). In theory, the money is yours........however, the Government has spent that money 20 times over and there ain't any left.
We would have all been much, much better off if we had put the money in the Stock Market in an account in OUR OWN NAMES and then we really would have a significant amount of wealth. As it is..........we all have our own personal share of an empty "lock box".
The original intent of the program was that all money's were to be returned to the contributors. At some point the program would have become self funding. Instead it was used to build interstate highways and then Johnson used it to fund welfare. The argument that people live longer now is bogus. We only live about two years longer than people did 60 or70 years ago who reached 65. The average life span is longer because we don't have as many job related fatalities. I believe the solution will be to reduce SS payments in order to maintain welfare at high levels. There aren't many riots at the Villages.
LBJ started stealing money and it has kept this country afloat. Some folks have allowed to opt out of it like Worth County Schools. But all said and done, it is the first Ponzie scheme. They should have had a Constitutional amendment to stop it from being used as it is. Welfare is just a way for the Democrats to buy votes legally. If the Republican party does not choose to run a Hispanic, they will never have another President. But yes, it is not an entitlement and I too resent it.
The squawker is on target. The only way it is an entitlement is to say I am entitled to receiver my money from the SS contract.
My husband and i both worked for our "entitlement" there are people drawing from our entitlement that has never worked, it is called SSI how right is this. They have lived off the government from the time they were born and receive more than we ever will.
My parents worked on the farm for more than fifty years. During this time, the farm was a legitimate business. But guess what? Those business owners and my parents didn't pay one dime into Social Security. Did they deserve to receive benefits?
Do they receive SS benefits and if so, what type? Do/did they collect Medicare? My father was a retired military man and received a substantial military retirement but at the time of his retirement the program was quite different than it is now for widows of military retirees so he got a part time job to earn credit hours towards his Social Security (and at the time of his retirement they did not take Social Security out like they did when I was in, so I draw both military and SS retirement with no penalty). He wanted to make sure my mother was well provided for should he die well before her. He died 3 years before she did but because of him earning his SS credits she was well taken care of. The military didn't start taking from my checks for SS and Medicare until 1966.
The income of people on welfare is multiples of people on SS. My wife and I have our SS incomes plus company retirement income. So our monthly income is pretty good, but it is still far below what is given in welfare. In addition Medicare with medigap costs $600 per month for both of us and it doesn't cover nearly as much as Medicaid. I don't know if there is an insurance you could buy that covers as much as Medicaid. For the life of me I don't know why so many people who are not on welfare think this is fair and right. Google all the welfare programs and you can estimate the value of combined programs. I totaled over $60,000 per year. Do it yourself and see what you get.
$60,000 a year for what...Red? a family of how many? Do you mean a family of 4 living off $60K a year in welfare benefits? My wife and her fellow workers did that once and came up with a ballpark figure of about $40K for a family of 4 living on welfare, including a mother with 2 kids, both below 5 years of age and a disabled husband. They made him truly disabled, an industrial accident, and gave him a small SSD check too. They did this about 10 years ago when she was still working so I am sure things have changed and now she is retired herself.
Most "Govvament" programs start with noble motives......then politicians realize they can use that money to BUY VOTES in hopes of insuring a long and lucrative life in office. I say we need Term Limits. Two terms for the House of Representatives and one term for the Senate.
Between the government stealing it, the illegals who didn't contributegetting it we'll be lucky to have anything left in 10 years. Calling SS an intitlement is like calling your 401k an intitlement.
My spouse began working when he was 12. He paid cash for his first car when he was 16. My spouse now draws SSD due to a disability (it took 22 months to get that). Entitlement? Call it what you want but if you don't work, why are you entitled to any type of government assistance? If you are in this country illegally why are you entitled? What makes you entitled simply because my spouse started busting his ass at 12 years old and you didn't? Sick of the entitlement mentality.
Last I read, there are more on SS disability than there are on retirement. Now I don't begrudgean individual disability if they are truely disabled. I do begrudge it if it can about because of some Lawyer's TV ad about overweight, over stressed, over medicated etc. Or if some State or Federal worker told people how to file, and even which Doctor to use. These so called disabilities are the result of the individuals actiona and life styles. Why should it be suplimented by the government. It takes so long to get disability due to the vast number of claims, many really fraudulant, or a con of one sort or another. Floks, too many people have the system figured out, and we do not appear to have the courage to stand up and say enough.
My spouse has lost his vision due to strokes on his optic nerves. The reason it took 22 months to get his started was for the very reasons you stated Yes, we had to hire an attorney to get to the hearing level and then to have the hearing. We used this particular person because I never saw an ad on t.v. Yes, my spouse IS disabled and he would rather be driving a truck than relying on someone to take him where needs to go. Disability for some is an entitlement. For my spouse, it is a curse....a necessary curse, but a curse just the same.
I am sad for your situation and you deserve what you are getting. However, for every legitimate claim there are 20 bogus claims including people with 6 "crazy" kids and kids with asthma all of whom are drawing a bogus check undeservedly. Just ask an honest DCSS teacher. They will know a dozen "crazy" kids.
I knew a man that was getting SSI & was working under the table everyday. I turned him in & filled out the paperwork they sent me. Nothing ever became of it, just a waste of my time. He is still getting a check & foodstamps.
Was he driving a luxury import? There are a lot more BIMMERS moving around this town than people can afford.
Did it ever occur to anyone that Obummer is visiting these third-world countries in an effort to get more immigrants into the US via his "executive privilege" tactic? And with his coy and devious manner, he will pass one of those laws whereby the president can succeed himself indefinitely? Scary, isn't it? And with that, he will have made himself a true, bona fide dictator! God forbid!
Well personally I think I am entitled to every penny I get from my pensions, my 2 small private ones I worked long enough for to become vested (10 years for each company) and the 21 years I served in the military and get my retirement for, and my Social Security check I began receiving at age 62. I pay under $100 a month for Medicare A & B and nothing for supplemental insurance thru Tricare4Life, and nothing for my medications. I get 90-day supplies free thru mail order. I think I have a sweet life. Pi** and moan all you want, be unhappy till the day you die, but I personally am going to accept things the way they are and be thankful for what I have and get up each day and look back and tell myself that all the years of sacrifice I made, all the truly important things in life I missed out on, the birth of my first child, hearing her first cries while I was in some god awful place in Vietnam or in Korea wondering when in the world the North Korens were ever going to let the USS Pueblo crew go, when my only son was being born....I missed out on so much.......so whether or not SS is an entitlement or not...who the hell cares....get over it. Stop complaining and pay better attention at the ballot box and I DO NOT mean for president......I mean for SENATOR and REPRESENTATIVE....that is where the power lies.......get your heads out of the sand for once and learn how our government works...it is a system of checks and balances.....NO ONE MAN HAS ABSOLUTE POWER......pay attention to who you send to Congress..to who is making the laws..they are the ones you need to be afriad of....Stop watching Fox News and research and learn on your own......you would be amazed at how much you can learn if you just research. There is a world of truth out there. I can remembe when I was in the Minutemen Missile program in the 70's...one of the funniest things I ever used to hear was about the nuclear warheads, pre-launch, and at launch....some funny misconceptions, especially in the movies, just like in these posts about a lot of things, but in the case of the ICBM missiles... I knew the correct answers.
The story of the Grasshopper and the Ant...
I've already made peace with myself about it all. I came into this world broke and I will leave it broke. I will work all of my adult life so that others, MOST who do not deserve it, can get the money that is taken out of my check every payday. Between these programs and the cartel we call the Federal Reserve System there is nothing we have ever or will ever be able to do to stop this criminal act. It has been made law and we allowed it to be passed. Period. Help yourself if you wish to worry yourself to death over it or to stress out so much you have a heart attack. Make it easy on yourself. Live your life, squeeze out enough to raise your kids and have a place to live and consider yourself lucky. The rish will remain rich, the poor will remain poor, and us middle-class suckers will continue to pay the entire bill for it all. That is life in America. Always has been, always will be. What makes me wonder is what will happen right around the corner when all this squeezes us so much that the middle class dwindles and falls into poverty level. Unemployment, taxes constantly going up, foreclosures on our houses we've had for over 20 years and are given zero help to save it, combine it all and it won't be long. When that day comes and the middle class goes away it will be the time for the government to do what they've been planning for a very long time. I just hate it for our kids who will be the ones who will have to live deal with it.
The federal government hasn't set aside money or created a revenue source similar to Social Security's payroll tax to help pay for the benefits, so the retirement costs must be paid every year through taxes and borrowing.
The government paid a record $268 billion in pension and health benefits last year to 10 million former civil servants, military personnel and their dependents, about $100 billion more than was paid a decade earlier after adjusting for inflation. And $7 billion more was deposited into tax-deferred accounts of current workers.
STORY: Military retirees say benefits hard-earned
In addition, the federal government last year made more than a half-trillion dollars in future commitments, valued in 2010 dollars that will cost far more to pay in coming decades. Added last year:
•$107 billion in retirement benefits accumulated by current workers.
Federal civilian and military retirement costs have increased dramatically since 2000 (billions, inflation-adjusted 2010 dollars):
Source: USA TODAY analysis of government reports
•$106 billion in new benefits granted to veterans.
•More than $300 billion in the snowballing expense of previous retirement promises that have no source of funding.
In all, the government committed more money to the 10 million former public servants last year than the $690 billion it paid to 54 million Social Security beneficiaries.
The retirement programs now have a $5.7 trillion unfunded liability, compared with a $6.5 trillion shortfall for Social Security. An unfunded liability is the difference between a program's projected costs and its projected revenues, both valued in today's dollars.
USA TODAY's analysis is the first comprehensive calculation of how much the government spends on benefits for retired federal workers. The $275 billion paid last year — roughly two-thirds cash, one-third medical benefits — are spread over dozens of overlapping programs in many departments and agencies.
Outgoing Defense Secretary Robert Gates told Congress in June in his final budget testimony that health care costs "are eating us (the Defense Department) alive."
Private employers are legally required to put money into pension funds to match retirement promises. Private pensions have $2.3 trillion in stocks, bonds, real estate and other assets. State and local governments have $3 trillion in retirement funds. The federal government has nothing set aside.
USA TODAY 9-29-11 archives
This is why many of us who are older and have our own pensions should be afraid, very afraid. Of what? you ask.......of Obama and the Democrats who could decide to "nationalize" everyone's pension accounts, IRAs and 401k's using the excuse that it serves the same purpose as Social Security and provide the capital necessary to keep funding all the crapola that the above article identifies. That way, the Government will just take in all the money and then decide how to dole it back out "based on need". They forced Obamacare on us and I would not put it past them to force this one on us as well. After all, they think all money belongs to the Government...they just let us keep some of it according to their Big Brother Benevolence. They'll probably think of a catchy name to call this legislation...sometihng like the "My Brother's Keeper Act".
My god then what would you do? How would you explain your $75,850 yearly income or was it a $1,300 monthy you said you lived on....I know you twice made reference in old posts. You better make plans if the Democrats are gonna come after your money.....run run run...hahahaha..you give me such a good laugh. Oh now I remember, it was $75,850 you told TRUTH101you made....."from retirement EARNINGS. No Gov't Handouts, no Social Security, no Disability. EARNINGS from several decades of work."
SS has always been a ponzi scheme. These can work well for years until the point where there are more collecting from the scheme than there are paying into it. For those of you currently collecting SS enjoy it while it lasts. Sooner or later SS and other "entitlements" will cause the US to be so far in debt that nobody will buy the bonds used to finance the debt. The government will continue to print money (QEIII, IV, V, etc.) and the dollar will eventually be worthless. At that point the debt owed will also be worthless. Everyone will be bankrupt no matter how many dollars they have. Some people think this kind of thing can't or won't happen in the US, some may look forward to it. It's certainly one way to "spread the wealth around' isn't it?