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Buy the same token of calling SS "welfare", so IS A PENSION PLAN. Not a 401k, 403b or other that you pay into, but a tried and true benefit plan YOU PAID NOTHING IN TO, but that YOUR EMPLOYER Pays out to you in return for years for your devoted service.
My father worked for a "Fortune 110" {top ten} company too, His "pension" is something he never paid into, but he gets from the company, now having received an equal number of years of pension as years of service!
THAT's what pi$$es ME off...those who pull those down pensions and yet call SS "welfare".
I have NEVER worked for a company that offered a pension, BUT I HAVE paid into, and will continue to pay into, SS. I EXPECT an "Entitlement" for paying into it all these years.
Its all interpretations of the "Clear English Language", in some cases.
*Sigh*
Pension plans vary widely. Some certainly do require employee contributions.
The Roman empire also bit off more than it could chew . endless wars of conquest bankrupted them as well . the reason monarchs get beheaded is somebody is desperate . do we want a desperate America ?
That they did. However, so has the US. Still doesn't change the fact that all of the social programs they had for the poor contributed to their down fall.
So when there was a water leak in my home while on vacation causing substantial damage, you are saying I received welfare from the insurance company for the repairs? My premiums for many years are similar to payroll deductions for SS.
No, they couldn't be more dissimilar.
You voluntarily chose to purchase insurance. By contrast, you are required by federal law to contribute to SS.
If an insurance company (mis)managed their funds the way the federal government has (mis)managed the SS fund, it would be shuttered and the executives would be imprisoned.
Social Security is welfare that a taxpayer is required to pay into.
If Social Security was not a form of welfare then everyone that paid in would have an account with an amount they paid in, accessible to them and/or be an asset that they could leave to heirs or invest in any way they chose.
The government requires a contribution to Social Security, dictates the terms, controls the distribution and amount a person receives. It is welfare.
A single guy making $50,000 a year pays the SAME amount into Social Security as a guy that is married with two kids. Yet if the guy with two kids dies when his kids are minors, they get survivor benefits until they are 18 and his wife gets part of his Social Security when she is older, even if she never worked.
In order for Social Security to not be welfare: a person that pays into it and has dependants should pay more into it.
SS, SSDI, Medicare, and Unemployment Insurance are not ''welfare''. Employees pay into these and use them when they need them.
They are programs, in which participation is mandated by govt, that provide a minimum level of support for some at the expense of others, thus, they are welfare.
And don't kid yourself. That 13% you pay out of every paycheck is going to current retirees, not to some pool of funds that you'll get back. It's a giant Ponzi scheme and has been from the start.
This is why SS is a "tax" and a "welfare" program. Whether you get back more than you paid in or less than you paid in depends on how many years you worked before 1983 vs. how many years you worked after 1983 when the SS tax was doubled, and still the program will become insolvent.
1. They could cut benefits.
2. They could raise the retirement age.
3. They could raise the tax rate.
#1 will never happen because of senior citizens high propensity for voting so the retirement age will likely go up along with the withholding rates.
My wife and I have IRAs and 401ks because we will have a better chance of being abducted by aliens than ever getting a SS check.
This is why SS is a "tax" and a "welfare" program. Whether you get back more than you paid in or less than you paid in depends on how many years you worked before 1983 vs. how many years you worked after 1983 when the SS tax was doubled, and still the program will become insolvent.
.................................................. ....................... My wife and I have IRAs and 401ks because we will have a better chance of being abducted by aliens than ever getting a SS check.
First, how many years you worked before versus after 1984 (when the increases voted in 1983 actually went into effect) is indeed one factor in whether you will get all your money back, but an even greater factor is how long you end up living. A person who lives to a ripe old age will get more than his money back regardless.
Second, it is ignorant to say you will never get an SS check. In fact, it is a virtual certainty that you will get one; even if nothing is done before 2032 to tweak the system you will still receive 75% of promised benefits after 2032. That is still a check even if it is a smaller one.
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