Social Security: It is NOT an Entitlement!

Discussion in 'Politics' started by righteousdude2, Aug 12, 2011.

  1. righteousdude2

    righteousdude2
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    The following was sent to me. The author of this letter is apparently anonymous, BUT the words are worth thinking about, because they seem to be hitting that proverbial nail on the head!!!

    :wavey: 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 over your working life, that's close to $220,500. If you calculate the future value of $4,500 per year (yours & your employer's contribution) at a simple 5% (less than what the govt. pays on the money that it borrows), after 49 years of working (that was me) you'd have $892,919.98.

    If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month. The folks in Washington have pulled off a bigger Ponzi scheme than Bernie Madhoff ever had.

    Entitlement my @%# (righteous anger expressed), 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 social security retirement entitlements?

    We're"broke" and can't help our own Seniors, Veterans, Orphans, Homeless etc.! In the last months we have provided aid to Haiti, Chile, and Turkey. And now Pakistan......home of bin Laden. Literally, BILLIONS of DOLLARS!!!

    Our retired seniors live on a 'fixed income,' receive no aid, nor do they get any breaks while our government and religious organizations pour Hundreds of Billions of $$$$$$'s and Tons of Food to Foreign Countries!

    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 its time for us to collect, the government is running out of money.

    Why did the government borrow from it in the first place?

    Imagine if the *GOVERNMENT* gave 'us' the same support they give to other countries?

    It's a sad and pathetic story, and the ending isn't a happy one!


    So, what do you think about this American citizen' assessment of the Social Security fiasco???

    Please don't attack me for posting this. I felt it was an interesting view of what is wrong with America. And while I did not write this letter, I can relate to this persons anger and frustration, especially when the retiree is being made to feel like moochers living off the system!

    Shalom,

    Pastor Paul
     
  2. TomVols

    TomVols
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    Your employer pays part of your income taxes as well that go to fund other things. Does that make them not entitlements?

    The biggest myth in the world is that SS is "yours." Second biggest? That SS should not be in the stock market (it already is in the market).
     
  3. InTheLight

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    The government pays far less than 5% on the money it borrows.


    We're broke? Really, since when?

    Social Security, Medicare, prescription drug benefit, senior discounts. No aid? No breaks?


    Which is it: We're broke? Or: We're running out of money?

    Nice rant, but my Mom receives Social Security. It is an entitlement.
     
  4. Robert Snow

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    Thank you! I agree!

    It has been claimed that it is not "our" money.

    Let me see, my money was forcibly taken from me for the past 40 years. But now, according to some, it isn't my money at all.

    I wonder what these people would say if they went to their bank to withdraw from their savings and were told the money wasn't actually theirs. It seems like the bank made some bad investments so their money was gone.
     
  5. targus

    targus
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    It seems to me then that you would have been against increasing the debt limit.

    Where do you think that the excess of social security taxes coming in over the benefits currently being paid out is being invested?

    It was all invested in government debt and that hasn't changed.

    In other words - it's all been spent and the only way that it is going to be repaid is by taking even more from us.

    So we will pay more taxes in the future so that the government can repay the money that it already "borrowed" from us.
     
  6. Scarlett O.

    Scarlett O.
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    I've paid in a small token of social security from my church check over the past 30+ years. The church had no option, but to take SS from my check each month.

    It's not an enormous amount, but it's an amount that I would like to have access to when the time comes.

    But I will never be able to draw it. The money was taken from me and I will never see it.

    Why?

    Because I draw a retirement check from the state from my full-time job. If I were to take the small amount of SS each month, the exact amount would be subtracted from my current state retirement check.

    I've never understood this.

    C'est la vie.
     
  7. InTheLight

    InTheLight
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    If I'm understanding you correctly, you worked part time at your church and also worked for the state. I presume the state did not take out Social Security taxes. Is this correct?

    Anyway, this link might apply to you. Take a look at this, esp. the "Some Exceptions" paragraph.

    http://www.socialsecurity.gov/pubs/10045.html#how
     
  8. Robert Snow

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    I did not have a strong opinion about this issue. Besides, both sides were playing politics, as usual.[/QUOTE]
     
  9. Scarlett O.

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    That's right, the state does not hold out SS. Thanks for the link - I will read it.
     
  10. freeatlast

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    I certainly agree with the premise of what he says. He does have some facts a little off and actually Social security is technically an entitlement based on the definition of the word.
    An entitlement is a guarantee of access to benefits based on established rights or by legislation. A "right" is itself an entitlement associated with a moral or social principle, such that an "entitlement" is a provision made in accordance with legal framework of a society. Typically, entitlements are laws based on concepts of principle ("rights") which are themselves based in concepts of social equality or enfranchisement.
    In a casual sense, the term "entitlement" refers to a notion or belief that one (or oneself) is deserving of some particular reward or benefit[1]—if given without deeper legal or principled cause, the term is often given with pejorative connotation (e.g. a "sense of entitlement").

    The problem is not with Social Security. The fund is self supported. The problem is the congress who has pilfered the fund for their pet projects and irresponsible spending. Now they want to get away with an even bigger scam by convincing the people, and some have bought it, that the fund is a problem. So the congress wants to cut benefits so they can get out of repaying what they pilfered as well as to continue to pilfer the fund in the future.
     
  11. freeatlast

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    That has nothing to do with SS. That is a problem with your state laws. You need to contact your legislators and get the law changed in that state.
     
  12. th1bill

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    Tom,
    That is an interesting though not accurate thought. It´s just like the insurance that I had when I worked, the Employer did not pay me as much as he, she or they would have except for the insurance... the same is true for the SS. How do I know this? Once upon a time I employed people and all of this in addition to Christmas bonus' were part of the pay computation for the weekly paycheck. Having been an employer and having friends that were also and some still are, I know that none are ever going to fess up but I also know it is true. When I worked for others, even the US Army, I earned every penny that was ever placed in that fund because of me. Then, when I was on the other end, I paid myself a check and I paid all the FICA on that from both ends.

    It is not wrong to say that I and other employers paid a large share of that tax but the worker earned every dime of it and it is his money the government is mismanaging. I might be wrong but you speak very much like a Liberal Democrat. Personally, Iḿ a swing voter but I repented of voting for Jimmy Carter and God has fogiven me for that.
     
  13. righteousdude2

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    Extremely Good Point, FAL!!!

    Thanks for your soild input. You have made an extremely valid point, as usual, and I applaud your explanation and supportive information. :thumbs:

    Your words have enhanced this persons DC rant!

    Shalom,

    Pastor Paul :type:
     
  14. righteousdude2

    righteousdude2
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    It Is Likely, the Health Care Bill.....

    .....Is another plan to fleece the public and pad the pockets of future politicians and their over-inflated programs and subsequent "pork?"

    This corruption is why this country is in such a mess. I am against Obamacare simply because I will never see the kind of care I am going to be promised and charged for. :tear:
     
  15. TomVols

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    Apples and oranges. I, too run small business and was HR for larger companies. Insurance (an optional benefit) is one that the employer is under no obligation to provide. It is indeed a taxable wage as such but the benefits are not (unless you're talking about a health plan). That policy (either way) is tied to your SS# and must be reported on the W-2, whether taxable or not. OASDI is an entirely different horse. You do not have a SS account with Uncle Sam. George W Bush tried to propose such and he was killed in the Dem circles for it so it never got off the ground. That should tell you all you need to know about what OASDI is.

    Ironically, it is insurance. Or at least, was designed to be such.

    I'm not a liberal democrat. I just happen to know a thing or two about economics, taxes, etc.
     
  16. HankD

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    Just as a reminder, those who are self-employed (as I have been most of my Information Technology Career) must pay the complete 14 plus % FICA.

    True, though mandated, I willing gave it up. But then again, I would like my government into whose hands I entrusted it to return it and indeed they are today.

    That doesn't mean I wouldn't forfeit it if it came to the ultimate well being of my country.

    But it doesn't have to be that way.


    HankD
     
  17. billwald

    billwald
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    You can thank Reagan for cheating some working people out of 60% of their SS payment. That's why I never bothered to get my 40 quarters.
     
  18. TomVols

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    Oh come on. Honestly.
     

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