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BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...

 
Anonymous Coward (OP)
User ID: 70663983
United States
11/13/2015 02:30 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
NEW SS CHECKS



The Social Security check is now (or soon will be) referred to as a
*Federal Benefit
Payment*?


This puts all we older folks in the”Food Stamp/EBT card group.”




The government is now referring to our Social Security checks as a "Federal Benefit Payment."

This isn't a benefit.

It is our money paid out of our Earned income!


 Quoting: pissed off citizen 70031239


What you are saying might have merit if there were actually a trust fund set aside for SS. But there is not. The "trust fund" is full of IOU's and SS is paid out of the general fund just like food stamps or any other program are. Its the same money, just with a different name to make it sound legitimate. SS is, for all intents and purposes, a welfare payment, money taken from one current worker and handed to another current recipient.
Wookiee666
It doesn't matter

User ID: 62421844
United States
11/13/2015 02:32 PM

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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
When those who are in their 40's now retire, two working chumps will be kicking into this ponzi scheme for every beneficiary.

How much money do you think two average people can be taxed to support one person?

Better find another method of funding your retirement. You'd be lucky to get $300 per month in 2015 dollars when you retire.
 Quoting: Cheyenne


...Nope.

I paid in over 300k in my working career...
I and others like me have had our money basically 'stolen' to pay for other peoples...????(God only knows what???).

I expect that money back...with interest. So do my cohorts, bub.

Deal with it....
 Quoting: Tree of Life


This is mine from 68 - 2012 with 9 years overseas taxfree.

Estimated Total Taxes Paid
For Social Security
Paid by you: $124,256 Paid by your employers: $128,043

For Medicare
Paid by you: $31,406 Paid by your employers: $31,383

Any truth about the loss of spousal ss? Just read that was only for the restricted application for spousal benefits.

Last Edited by JustSomeGuy_42 on 11/13/2015 02:58 PM
Warning: JustSomeGuy_42 is a publicly confessed unvaxxed neophiliac .

If the number 666 is considered evil.
then technically, 25.8069758 is the root
of all evil.
Anonymous Coward (OP)
User ID: 70663983
United States
11/13/2015 02:34 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
Not only did we all contribute to Social Security but our
Employers did too. It totaled 15% of our income before taxes.


 Quoting: pissed off citizen 70031239


Imagine where retirees would stand if that 15% went to purchase gold in the name of the worker over the course of a 50yr working life. Rretirement would be completely self-sufficient and the federal government would not be liable for a single dollar of it.

Thread: You're 65. How much would you have if you BOUGHT GOLD for 47yrs with what you put into SOCIAL SECURITY???
Tree of Life

User ID: 4613946
United States
11/13/2015 02:48 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
This is good news. "File and suspend" was just a way to game the system.
 Quoting: Anonymous Coward 70759375


Righto...We wouldn't want to give the Government any competition on gaming the system...


drevil
"All you may know of heaven or hell is within your own self." - Edgar Cayce
Anonymous Coward
User ID: 70703507
Israel
11/13/2015 02:55 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
excuseme2
Tree of Life

User ID: 4613946
United States
11/13/2015 03:12 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
NEW SS CHECKS



The Social Security check is now (or soon will be) referred to as a
*Federal Benefit
Payment*?


This puts all we older folks in the”Food Stamp/EBT card group.”




The government is now referring to our Social Security checks as a "Federal Benefit Payment."

This isn't a benefit.

It is our money paid out of our Earned income!


 Quoting: pissed off citizen 70031239


What you are saying might have merit if there were actually a trust fund set aside for SS. But there is not. The "trust fund" is full of IOU's and SS is paid out of the general fund just like food stamps or any other program are. Its the same money, just with a different name to make it sound legitimate. SS is, for all intents and purposes, a welfare payment, money taken from one current worker and handed to another current recipient.
 Quoting: Anonymous Coward 70663983


Nope..... s226


I have proof.

The system was intended and promoted to be an investment fund pension, period.

Just like any individual retirement account, the amount received varies, depending on how much paid in.
This is FAR from how a "Welfare Entitlement" works, now isn't it!?

These budget encumbrances ARE loans, or IOU's...just like our indebtedness to the Chinese or anybody else we borrow from as a federal government.

And the proof is in my state retirement fund, which I paid into ON TOP of all the federal pension contributions made into my retirement accounts. I retired early on this state pension, and live quite well, due to the wise and prudent investments of our board of directors for this state pension fund over the decades I paid in. And any 'borrowing' is strictly forbidden in my state! No debt, other than this retirement fund, is allow in any government venue. Period.

Our state never illegally breached the rules regarding the original text and intent, and the retirement fund board has invested it over the years and made a killing for the state employees retirement accounts!

The retirement system works just fine, and there is my proof.

This illegal dishonesty to the American worker and Employer is criminal! (Remember... the employer paid into this account for each employee...just like a wage benefit!)

There are many other posters that have given you a breakdown much better than just this explanation...that is if you're not just a shilery-do-da-day for the fascists.

hitler


hillary
"All you may know of heaven or hell is within your own self." - Edgar Cayce
Tree of Life

User ID: 4613946
United States
11/13/2015 03:18 PM
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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
When those who are in their 40's now retire, two working chumps will be kicking into this ponzi scheme for every beneficiary.

How much money do you think two average people can be taxed to support one person?

Better find another method of funding your retirement. You'd be lucky to get $300 per month in 2015 dollars when you retire.
 Quoting: Cheyenne


...Nope.

I paid in over 300k in my working career...
I and others like me have had our money basically 'stolen' to pay for other peoples...????(God only knows what???).

I expect that money back...with interest. So do my cohorts, bub.

Deal with it....
 Quoting: Tree of Life


This is mine from 68 - 2012 with 9 years overseas taxfree.

Estimated Total Taxes Paid
For Social Security
Paid by you: $124,256 Paid by your employers: $128,043

For Medicare
Paid by you: $31,406 Paid by your employers: $31,383

Any truth about the loss of spousal ss? Just read that was only for the restricted application for spousal benefits.
 Quoting: Wookiee666


Yes...your statement looks similar to mine.

Regarding the loss of spousal ss...I am not sure and still investigating the fine points of these changes...

Links on those specific details... anybody?

Last Edited by Tree of Life on 11/13/2015 03:20 PM
"All you may know of heaven or hell is within your own self." - Edgar Cayce
Wookiee666
It doesn't matter

User ID: 62421844
United States
11/13/2015 03:36 PM

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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
When those who are in their 40's now retire, two working chumps will be kicking into this ponzi scheme for every beneficiary.

How much money do you think two average people can be taxed to support one person?

Better find another method of funding your retirement. You'd be lucky to get $300 per month in 2015 dollars when you retire.
 Quoting: Cheyenne


...Nope.

I paid in over 300k in my working career...
I and others like me have had our money basically 'stolen' to pay for other peoples...????(God only knows what???).

I expect that money back...with interest. So do my cohorts, bub.

Deal with it....
 Quoting: Tree of Life


This is mine from 68 - 2012 with 9 years overseas taxfree.

Estimated Total Taxes Paid
For Social Security
Paid by you: $124,256 Paid by your employers: $128,043

For Medicare
Paid by you: $31,406 Paid by your employers: $31,383

Any truth about the loss of spousal ss? Just read that was only for the restricted application for spousal benefits.
 Quoting: Wookiee666


Yes...your statement looks similar to mine.

Regarding the loss of spousal ss...I am not sure and still investigating the fine points of these changes...

Links on those specific details... anybody?
 Quoting: Tree of Life

[link to www.wsj.com]
Warning: JustSomeGuy_42 is a publicly confessed unvaxxed neophiliac .

If the number 666 is considered evil.
then technically, 25.8069758 is the root
of all evil.
Anonymous Coward (OP)
User ID: 70663983
United States
11/13/2015 03:43 PM
Report Abusive Post
Report Copyright Violation
Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...
NEW SS CHECKS



The Social Security check is now (or soon will be) referred to as a
*Federal Benefit
Payment*?


This puts all we older folks in the”Food Stamp/EBT card group.”




The government is now referring to our Social Security checks as a "Federal Benefit Payment."

This isn't a benefit.

It is our money paid out of our Earned income!


 Quoting: pissed off citizen 70031239


What you are saying might have merit if there were actually a trust fund set aside for SS. But there is not. The "trust fund" is full of IOU's and SS is paid out of the general fund just like food stamps or any other program are. Its the same money, just with a different name to make it sound legitimate. SS is, for all intents and purposes, a welfare payment, money taken from one current worker and handed to another current recipient.
 Quoting: Anonymous Coward 70663983


Nope..... s226


I have proof.

The system was intended and promoted to be an investment fund pension, period.

Just like any individual retirement account, the amount received varies, depending on how much paid in.
This is FAR from how a "Welfare Entitlement" works, now isn't it!?

These budget encumbrances ARE loans, or IOU's...just like our indebtedness to the Chinese or anybody else we borrow from as a federal government.

And the proof is in my state retirement fund, which I paid into ON TOP of all the federal pension contributions made into my retirement accounts. I retired early on this state pension, and live quite well, due to the wise and prudent investments of our board of directors for this state pension fund over the decades I paid in. And any 'borrowing' is strictly forbidden in my state! No debt, other than this retirement fund, is allow in any government venue. Period.

Our state never illegally breached the rules regarding the original text and intent, and the retirement fund board has invested it over the years and made a killing for the state employees retirement accounts!

The retirement system works just fine, and there is my proof.

This illegal dishonesty to the American worker and Employer is criminal! (Remember... the employer paid into this account for each employee...just like a wage benefit!)

There are many other posters that have given you a breakdown much better than just this explanation...that is if you're not just a shilery-do-da-day for the fascists.

:hitler:


hillary
 Quoting: Tree of Life


Employers don't "pay in" to anything. The FICA taxes are simply factored in to the cost of the employee. Sounds like working as a state drone all your life you have no understanding from the business side of how wages are calculated and paid.

There is no federal SS account. SS is paid from the general fund. States cannot operate the same way because they cannot print currency to make up the shortfall of overspending. Sate pension funds are separated from the general fund by law specifically so political fucks can't raid it and borrow against it like the feds do. As long as you continue to believe the term "paid in", you will continue to be misinformed.
Wookiee666
It doesn't matter

User ID: 62421844
United States
11/13/2015 06:55 PM

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Re: BOEHNER / OBAMA budget deal could cost SS RECIPIENTS up to $100k in LOST BENEFITS!!! (younger workers also screwed)...


Employers don't "pay in" to anything. The FICA taxes are simply factored in to the cost of the employee. Sounds like working as a state drone all your life you have no understanding from the business side of how wages are calculated and paid.

There is no federal SS account. SS is paid from the general fund. States cannot operate the same way because they cannot print currency to make up the shortfall of overspending. Sate pension funds are separated from the general fund by law specifically so political fucks can't raid it and borrow against it like the feds do. As long as you continue to believe the term "paid in", you will continue to be misinformed.
 Quoting: Anonymous Coward 70663983


Don't get your knickers in a twist. It is a generally accepted notion that employers pay in to SS.

They don't pay into SS
They don't pay for your vacations
They don't pay any healthcare or insurance.
It's all factored in to the cost of the employee.
My company came out yearly with a printout of what my true salary was. I was making $45/hour, iirc, they said that I was actually making around $150.
BFD! You gotta problem with city workers? Or are you just a commie? or worse, a maggot infested hippie?
Warning: JustSomeGuy_42 is a publicly confessed unvaxxed neophiliac .

If the number 666 is considered evil.
then technically, 25.8069758 is the root
of all evil.





GLP