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Social security is a failed ponzi scheme that is all but bankrupt. When it is fully exposed it will end. The acursed baby boomers are just hoping to keep the wool over our eyes long enough for all of them to reitre, use up the last of the SS benefits, and then die off.
I would rather have the money that is taken out of my paycheck and invest it myself for my future. I would also be happy to provide for my parents finantial security than to hope the government takes my money and does that. People used to rely, in part, on their famliy in their later years. Of course America's Worst Generation (Baby boomers) preferred to kill their children with their sacrement of abortion on demand, so they can't rely on their children to take care of them. They have to rely on the government (i.e. other taxpayers).
So you are saying that someone who has never paid into SS can collect SS???
I thought you had to pay into it in order to collect on it once you retired or became disabled and unable to work; then you could collect what you had paid in, with something extra that would make up for what you could have earned if you had privately managed your money/retirement funds. Isn't that what it was supposed to be - kind of a forced saving/retirement fund?
If this is true and people can collect who have never paid into it, when did this start? Wasn't that way from its inception, was it?
At this time I believe you had to work 10-15 years to qualify at all.
Originally many oldsters started collecting who were 65 and older without collecting a nickle from them for the SS fund.
So you are saying that someone who has never paid into SS can collect SS???
I thought you had to pay into it in order to collect on it once you retired or became disabled and unable to work; then you could collect what you had paid in, with something extra that would make up for what you could have earned if you had privately managed your money/retirement funds. Isn't that what it was supposed to be - kind of a forced saving/retirement fund?
If this is true and people can collect who have never paid into it, when did this start? Wasn't that way from its inception, was it?
yes
the us has "totalization" agreements with many countrites,a and the work a foreigner might have done in the foreign country before they came to the USA is counted as qualified work
therefore a 62 year old foreigner can come to the usa and start collecting SS, as long as they can prove the worked for the '40 quarters'
and as far as ssi
Supplemental Security Income (SSI)
A federal supplemental income program funded by general tax revenues (not Social Security taxes). It helps aged, blind, and disabled people who have limited income and resources by providing monthly cash payments to meet basic needs for food, clothing, and shelter. For more information
plus as a spouse of a worker you can collect even though you yourself have never worked
So you are saying that someone who has never paid into SS can collect SS???
I thought you had to pay into it in order to collect on it once you retired or became disabled and unable to work; then you could collect what you had paid in, with something extra that would make up for what you could have earned if you had privately managed your money/retirement funds. Isn't that what it was supposed to be - kind of a forced saving/retirement fund?
If this is true and people can collect who have never paid into it, when did this start? Wasn't that way from its inception, was it?
Yes,
Example: A friend of mine works in the Charity care dept in a local hospital, she helps patience to fill out the paperwork to apply for SSI for things like, drug addiction, asthma, learning disabilities.
Why is it lumped together with other Entitlement Programs like Medicaid, Medicare, etc. that come from general taxes? Am I missing something?
Well, maybe.
When you state the "we've paid directly into it", that implies that you have sent your money to the government who will then play the role of financial planner or bank and set it aside for you in an account to be tapped when you retire.
Of course, it has never worked that way. Instead, we all throw money into some virtual pot of money that is used to pay current retirees.
In nongovernment circles, that is known as a Ponzi Scheme. If Bernie Maddoff had the power to print money, he would never have gone to jail.
When you state the "we've paid directly into it", that implies that you have sent your money to the government who will then play the role of financial planner or bank and set it aside for you in an account to be tapped when you retire.
Of course, it has never worked that way. Instead, we all throw money into some virtual pot of money that is used to pay current retirees.
That's partially true. Until recently, and for decades, SS ran a (large) surplus. That should have been saved (ideally invested) to provide for people that were paying into the system, once they were in a position to receive benefits. Instead, this revenue was spent by Congress, to hide just how big the defecits were that they were running. In non-goverment circles that is theft or embezzlement.
So you are saying that someone who has never paid into SS can collect SS???
I thought you had to pay into it in order to collect on it once you retired or became disabled and unable to work; then you could collect what you had paid in, with something extra that would make up for what you could have earned if you had privately managed your money/retirement funds. Isn't that what it was supposed to be - kind of a forced saving/retirement fund?
If this is true and people can collect who have never paid into it, when did this start? Wasn't that way from its inception, was it?
Q#1. Yes, in certain circumstances, e.g. the spouse of a person covered by SS. Also kids of deceased SS payers in some circumstances.
Q#2. Yes and no. Retirement yes, savings fund, no.
Q#3. A long time ago, at least. My aunt got SS for the kids after her husband died. This was back in the 50s.
What is the difference between Social Security disability and SSI disability?
Social Security is responsible for two major programs that provide benefits based on disability: Social Security Disability Insurance (SSDI), which is based on prior work under Social Security, and Supplemental Security Income (SSI). Under SSI, payments are made on the basis of financial need.
Social Security Disability Insurance (SSDI) is financed with Social Security taxes paid by workers, employers, and self-employed persons. To be eligible for a Social Security benefit, the worker must earn sufficient credits based on taxable work to be "insured" for Social Security purposes. Disability benefits are payable to blind or disabled workers, widow(er)s, or adults disabled since childhood, who are otherwise eligible. The amount of the monthly disability benefit is based on the Social Security earnings record of the insured worker.
Supplemental Security Income (SSI) is a program financed through general revenues. SSI disability benefits are payable to adults or children who are disabled or blind, have limited income and resources, meet the living arrangement requirements, and are otherwise eligible. The monthly payment varies up to the maximum federal benefit rate, which may be supplemented by the State or decreased by countable income and resources. See Understanding Supplemental Security Income for an explanation of SSI benefit payment rates.
Why is it lumped together with other Entitlement Programs like Medicaid, Medicare, etc. that come from general taxes? Am I missing something?
Yea...you're missing a lot. If you're eligible, and have paid into it, then you're ENTITLED to draw if when you either need it or when it's due to be disbursed to you.
Hense, ENTITLE-ment!
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