Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
And yet they never say we're running out of welfare?
People work hard to earn social security, yet people on welfare do nothing?
You might want to learn how the two programs are funded.
Social Security is funded through a separate payroll tax. "Welfare" consists of 79 redundant programs that cost in excess of $1 TRILLION annually funded by the General Fund.
Also, those 79 redundant Welfare programs are "mandated", whereas Social Security is not.
And yet they never say we're running out of welfare?
People work hard to earn social security, yet people on welfare do nothing?
Easy question... Because SS is a pool of money funded by a payroll deduction. You can see how much is coming in verses going out. Welfare, which comes in many forms, is not...
All funds collected from all programs go into the general fund. The excess collected in any and every year is spent on other projects and is not earmarked for the purpose for which it was collected. In a few more years the amount collected under the guise of FICA in any one year will be insufficient to support those collecting Social Security benefits i.e. there will be more being paid out than is being collected.
^^^^^
There are 10,000 baby boomers retiring every day and receiving on average, about $1200 a month. There are not 10,000 new jobs being created every day. When S.S. was created, there were 40 people paying for one recipient. That number is down to 3 to 1. The 'original' Ponzi scheme is almost broke.
"99% of people are in fact so inept at managing their retirement money,"
Here is where we respectfully, differ.
I say make people be responsible for themselves. And you say the gov't should take care of us cradle to grave, be our baby sitter.
Instead of teaching, "sex education" courses in school, how about finance? Compound Interest, etc.
The reason MOST people DON'T save, is because they have NEVER been TAUGHT to.
IRA's have been in existence since when about 1984?.
How many people DON'T have one for EACH working spouse?
It is a matter of education, IMO.
Sex ed is important but I do agree with you that kids should be taught how to live in the real world and about money. Our local high school used to teach consumer math which taught the kids how to buy a car and a house and how to handle their finances. They got rid of that course because people complained they weren't learning real math
Social security is welfare. You don't earn it and the govt. is under no obligation to return any of the money it took from you.
This is far too simplistic. If this was true there would be no need for Social Security lawyers. The government can change the obligations, which isn't so easy to do but as long as you meet the current ones they do indeed have to pay you.
This is far too simplistic. If this was true there would be no need for Social Security lawyers. The government can change the obligations, which isn't so easy to do but as long as you meet the current ones they do indeed have to pay you.
In the words of the Supreme Court in Flemming vs. Nestor:
"that entitlement to Social Security benefits is not contractual right."
Interpret that however you see fit.
In the words of the Supreme Court in Flemming vs. Nestor:
"that entitlement to Social Security benefits is not contractual right."
Interpret that however you see fit.
People can wordsmith this all they want, in the end popular opinion and belief is far more important. IE if anyone touches social security, everyone will be pissed off because deep down they believe they paid for it, and the benefits are owed to them for having done so.
Republicans seem driven to touch social security lately, but I assure you nothing drives peoples anger more then the government touching that specific program. The yearly cost of living increases drive great amounts of discussion on my facebook feed, and other social media. actually touching or damaging the program will doom the political party responsible for decades.
In the words of the Supreme Court in Flemming vs. Nestor:
"that entitlement to Social Security benefits is not contractual right."
Interpret that however you see fit.
As I said.....the obligation can be changed. That is not so easy to do unless you want to lose your job.
You didn't dispute anything I said. No, a contract can't be changed by agreement of only one side. That doesn't change the fact that as long as you meet the current requirements the government is obligated to pay you.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
