Paul Ryan is cold and heartless (elect, state, pay, work)
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Yes Greg _ IA this fact (The Social Security Ponzi scheme) is one that politicians have deftly ignored and avoided since it began.
Current recipients are getting funds from current workers. It is analogous to a sand filled hourglass (to illustrate the demographic dilemma cause by greater life expectancy, global labor arbitrage via "Free Trade" agreements, and technology's impact on human labor hours needed).
Looking at the draining hourglass, a la Dorothy in the Wizard of Oz, at some point in time the sand granules from the top drain enough to be inverted in relationship ( contributing workers vs. recipients). Unfortunately, the politicians in DC have their "own" privileged retirement. While everyone else gets the shaft, because as with every Ponzi scheme, soon the IOU's are not (or can not be) paid.
Now, if we can only throw some "water" on the perpetuating Ponzi politicians and lobbyists and hear them scream... I'm melting, I'm melting.....
That's why. I withdrew from Social Security and have not paid "into the system" for numerous decades
Really, I thought everyone who has a taxable income has to pay into social security. I imagine if a person is a the owner and sole employee of company they may be able to avoid it. Is there another way?
Really, I thought everyone who has a taxable income has to pay into social security. I imagine if a person is a the owner and sole employee of company they may be able to avoid it. Is there another way?
This is not the proper forum to get very serious advice. IF you are interested in the topic, my suggestion is to Google the question "How to withdraw from Social Security", then consult with very competent tax counsel - I do not mean H and R Block -
There are ways and they have some very serious consequences and should not be done lightly. This said, I have not paid into Social Security for well over 30+ years.
Get competent tax counsel - once you withdraw you cannot ever get back in. No Medicare. No Medicaid. No SSI. Big consequences.
Get Social Security Form SSA-521
I believe you are mistaken SSA-521 is to withdraw you application to RECEIVE SS benefits...not to pay SS benefits. I not believe you can opt out of paying.
It is a lie concocted by those seeking to fulfill Wall Street’s eternal quest to get its sweaty palms on trillions of dollars of our retirement cash, allowing them to expand their casino operations beyond their wildest imaginations—and Wall Street has a very healthy imagination.
That looks like a form to quit receiving benefits after you have already applied. Maybe I'm wrong?
That is the way that I read it as well. Maybe Great Day is 90 and apparently has not been receiving ss benefits. Good job GD.
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