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Death Tax - Recovering Excess Lifetime Entitlements ????

 
amachiavellian
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02/24/2013 02:25 PM
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Death Tax - Recovering Excess Lifetime Entitlements ????
[link to www.groundreport.com]

The elderly will say that they paid into Social Security and Medicare throughout their careers and therefore they are entitled to the entitlement benefits. But a closer look at the numbers shows that that statement is not true. The elderly are getting more from Social Security and Medicare – even adjusted for interest – than they paid it. They are getting the proverbial ‘free lunch’.
 Quoting: article


But after death, the Federal Government has the right to recover the overpayments. At death, the Federal Government should calculate, on an individual basis, the monies put into entitlement programs versus the sums taken out. If the withdrawals are higher than the contributions (adjusted for the risk-free rate of interest), the Federal Government should recover the balance.
 Quoting: article


Last Edited by amachiavellian on 02/24/2013 02:43 PM
— read for knowledge, not answers.
amachiavellian (OP)

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02/24/2013 02:32 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
shameless self bump
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amachiavellian (OP)

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02/24/2013 02:36 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
This article just posted 45 mins ago.

Anyone know anything about this?
— read for knowledge, not answers.
Anonymous Coward
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02/24/2013 02:41 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
"Hi, we're the baby boomers. We're entitled. But we are making sure you are not going to get anything after we are gone."skull_fing
amachiavellian (OP)

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02/24/2013 02:43 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
[link to www.groundreport.com]

The elderly will say that they paid into Social Security and Medicare throughout their careers and therefore they are entitled to the entitlement benefits. But a closer look at the numbers shows that that statement is not true. The elderly are getting more from Social Security and Medicare – even adjusted for interest – than they paid it. They are getting the proverbial ‘free lunch’.
 Quoting: article


But after death, the Federal Government has the right to recover the overpayments. At death, the Federal Government should calculate, on an individual basis, the monies put into entitlement programs versus the sums taken out. If the withdrawals are higher than the contributions (adjusted for the risk-free rate of interest), the Federal Government should recover the balance.
 Quoting: article

 Quoting: amachiavellian


Thanks 1 star bandit.
— read for knowledge, not answers.
Anonymous Coward
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02/24/2013 02:43 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
The "Death Tax" is another made up phrase by paid off politicians.

The correct name is the "Inheritance Tax".

The concept is that a person was able to amass great wealth because of the system that the middle class paid for.
Anonymous Coward
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02/24/2013 02:44 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
who debased the dollar?
Anonymous Coward
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02/24/2013 02:47 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
.

How about we take it out of politicians' hides.


.
amachiavellian (OP)

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02/24/2013 02:47 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
The "Death Tax" is another made up phrase by paid off politicians.

The correct name is the "Inheritance Tax".

The concept is that a person was able to amass great wealth because of the system that the middle class paid for.
 Quoting: Anonymous Coward 1448417


That's not how I read this at all.

An Inheritance Tax is what you pay when your Grandma dies and leaves you her condo in Florida. How I am reading this is that if your Grandma used more entitlement dollars than she paid into the system - the Feds will take the excess out of her assets at the time of her death.
— read for knowledge, not answers.
Anonymous Coward
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02/24/2013 02:49 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
Just his own thoughts on the subject, nothing to get excited about.
Anonymous Coward
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02/24/2013 02:51 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
Of course in a political debate,the POS politicians will talk about a poor farmer that owns valuable land but his kids have to sell it off to pay the tax. They never talk about the investors that only make money from their money.
Anonymous Coward
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02/24/2013 03:00 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
When Social security was first introduced,people that never paid into it reaped its rewards.

Now that our Treasury has been raped by the MIC and the bankers,the Govt is looking for new ways to rip off the average person.
Anonymous Coward
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02/24/2013 03:09 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
What about the interest that should have accrued? That needs to be credited. Also, those who die before collecting any or all of their contributions plus interest need to have the balance refunded to their estates, fair is fair.
Anonymous Coward
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02/24/2013 03:32 PM
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Re: Death Tax - Recovering Excess Lifetime Entitlements ????
What about the interest that should have accrued? That needs to be credited. Also, those who die before collecting any or all of their contributions plus interest need to have the balance refunded to their estates, fair is fair.
 Quoting: Anonymous Coward 1209956


And there is the rub.

Social security would never have passed into law if the richest people in America hadn't been caught trying to overthrow the Government in a Fascist coop.

The rich then turned a loss into a win by stealing the monies collected from the average person.

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