How much of your Social Security, how much of that money is yours? (weather, state)
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I believe they've already planned to reduce SS benefits by as much as 30% in 2033 or so. This Ponzi scheme will run out unless something is done. I feel sorry for the young's who will see very little of their SS and the Stock Market is going to be even more rigged than it is now
People will need to learn how to supply their own needs thru farming, ranching, hunting, growing food, solar, etc
They won't touch it unless they want to commit political suicide.
And social security is NOT a Ponzi scheme because it will NEVER run out of money because it isn't other peoples money it is money that is printed by the federal government and therefore will never run out.
These figures are about a year old but a year ago we had a total of 44,469,687 people collecting social security benefits and it is my guess that most of them are of voting age. Anyone here believe 44 million votes won't swing an election???
Of the 44 million collecting 11,491,069 were collecting LESS than $1,000/month. Gonna cut their benefits are you?
35,679,864 receive less than $2,000/month which should be the very minimum in my mind.
Of the 44 million collecting only 393,452 only 0.9% are collecting more than $3,200/month.
I am one of the "lucky" ones as my benefit exceeds $3,200 but what I had to do it is delay collecting benefits until I was 3 years past my full retirement age and there is some politician out there that believes I don't deserve it? Really?
Let me make this prediction for you. Hell will freeze over before any politician votes to cut benefits. Congress can simply continue to print up more money just like they have done every year for the past 70 plus years and don't try to tell me otherwise. Let me say it again, Social Security is NOT a Ponzi scheme.
If anything we need to strengthen social security so nobody has to spend their last years in desperate poverty.
They won't touch it unless they want to commit political suicide.
And social security is NOT a Ponzi scheme because it will NEVER run out of money because it isn't other peoples money it is money that is printed by the federal government and therefore will never run out.
These figures are about a year old but a year ago we had a total of 44,469,687 people collecting social security benefits and it is my guess that most of them are of voting age. Anyone here believe 44 million votes won't swing an election???
Of the 44 million collecting 11,491,069 were collecting LESS than $1,000/month. Gonna cut their benefits are you?
35,679,864 receive less than $2,000/month which should be the very minimum in my mind.
Of the 44 million collecting only 393,452 only 0.9% are collecting more than $3,200/month.
I am one of the "lucky" ones as my benefit exceeds $3,200 but what I had to do it is delay collecting benefits until I was 3 years past my full retirement age and there is some politician out there that believes I don't deserve it? Really?
Let me make this prediction for you. Hell will freeze over before any politician votes to cut benefits. Congress can simply continue to print up more money just like they have done every year for the past 70 plus years and don't try to tell me otherwise. Let me say it again, Social Security is NOT a Ponzi scheme.
If anything we need to strengthen social security so nobody has to spend their last years in desperate poverty.
I believe you that they are printing out money that doesn't belong to a anyone, as one guy can have 2-3 divorces and all of his wives gets credit from his one SS account. He couldn't have paid that much into it. Those hundreds of dollar subsidies per person can't be from funds from Federal Taxes, not many people pay much into Federal Taxes
I am glad you waited to collect SS, you certainly deserve it.
The SSI system is what needs overhauled. It's wicked. Here's a story
They deducted $300 off of my cousins $841 SSI check for the value of shelter (an RV) provided him. If I give him $20 for Xmas, it's deducted from his check and the Worker always ask and receive a truthful answer.
Now he stays in a tent on our property half the yr Mid June-Mid Oct. They can't deduct the value of the shelter since it isn't considered shelter. I cut his meds by 25% so he has the ability to walk to the local restaurant (except Sundays he eats with us). Poor people own the restaurant/bar so only offer burgers, fries, potato salad, soup, spaghetti and fish. 2x a month, food bank stops by there to distribute food. The leftover food will be some Lunch Special for the next few days. He gets in 3 miles of walking with a pal who usually goes with him. Other poor disabled Veterans living in trailers on property in this off-grid town sympathize and will play cards or just joke with him during lunch. He swims and fishes in the river at our house so is always clean. He's really easy to handle as we don't see him except brining his fruits/vegetables snack in the morning and evening and on Sundays when he comes over for dinner and to watch a movie. We socialize a lot then.
Back at his house he's on 100% meds sleeping all the time, paying rent so barely able to afford food. We see him just 2x a month to take him to the doctor, dentist, or shopping and out to eat. Other family who lives closer sees him 1x a week taking him out to lunch helping with laundry.
They won't touch it unless they want to commit political suicide.
And social security is NOT a Ponzi scheme because it will NEVER run out of money because it isn't other peoples money it is money that is printed by the federal government and therefore will never run out.
These figures are about a year old but a year ago we had a total of 44,469,687 people collecting social security benefits and it is my guess that most of them are of voting age. Anyone here believe 44 million votes won't swing an election???
Of the 44 million collecting 11,491,069 were collecting LESS than $1,000/month. Gonna cut their benefits are you?
35,679,864 receive less than $2,000/month which should be the very minimum in my mind.
Of the 44 million collecting only 393,452 only 0.9% are collecting more than $3,200/month.
I am one of the "lucky" ones as my benefit exceeds $3,200 but what I had to do it is delay collecting benefits until I was 3 years past my full retirement age and there is some politician out there that believes I don't deserve it? Really?
Let me make this prediction for you. Hell will freeze over before any politician votes to cut benefits. Congress can simply continue to print up more money just like they have done every year for the past 70 plus years and don't try to tell me otherwise. Let me say it again, Social Security is NOT a Ponzi scheme.
If anything we need to strengthen social security so nobody has to spend their last years in desperate poverty.
But the money won't be/and already IS worth less and less because of the money printing and excessive spending. $3,200 ain't what it was 2 years ago, my friend.
Three pages of hot air, to answer a question that has no answer.
Of course it's been answered and quite well by a handful of posters. You pay in some money, your employer pays in some money and you have an old age benefit for life.
What could be better and simpler? It's worked very well since it was implemented.
I can certainly say that all the money social security sends me, belongs to ME. Thank you, thank you very much, this old retired factory worker has left the building. (I am going fishing) (I do that a lot)
But the money won't be/and already IS worth less and less because of the money printing and excessive spending. $3,200 ain't what it was 2 years ago, my friend.
The real truth is nobody can cut their spending like retirees. As you get 5-10 years older spend less on travel, gas. Spend less on clothing. Spend less in insurance, investment. Spend less on food at home & not out & maybe not eat as much. Sure spend more on health care depending on your Medicare plan. Wait for the new Plan D prescription plan takes effect. Be nice if MOOP was $2000.
As for Social Security one thing retirees do is vote. Woe be to the guy that cuts their benefit.
The real truth is nobody can cut their spending like retirees. As you get 5-10 years older spend less on travel, gas. Spend less on clothing. Spend less in insurance, investment. Spend less on food at home & not out & maybe not eat as much. Sure spend more on health care depending on your Medicare plan.
We have been awed by how much less we spend now in retirement. But following these retirement threads it does seem that most people assume their spending will go up.
I am entering into my twenty-second year of living on pension, the portion of my pension that we need to support ourselves continues to drop. My employer [US Navy] provided healthcare has not gone up much, it remains pretty cheap.
I still have a few years to go before I reach Medicare age.
Quote:
... As for Social Security one thing retirees do is vote. Woe be to the guy that cuts their benefit.
But the money won't be/and already IS worth less and less because of the money printing and excessive spending. $3,200 ain't what it was 2 years ago, my friend.
We've all watched this happening for a solid 60 plus years now.
When is the last time you saw two for a penny candy or a ten cent bottle of Coca-Cola from a vending machine? I have a photo taken of me when I was 5 years old, that would be the summer of 1954, where I was standing in front of a Coca-Cola vending machine and the price was five cents for a bottle. Picture was in Arizona we were car traveling from Missouri to Riverside, CA and we spent the night at a motel.
Strange thing is I can't remember much about the trip other than it was very hot but I do have the photo. It was the days before cars had seat belts or air conditioning. Imagine July in Arizona without air conditioning or the interstate to travel on. Highway 66 the whole way!
It was the days when everyone had fans in their bedroom windows.
Here's my reported income for the first ten years of my working life.
I wasn't in total poverty as in 1975 $5,850 is equivalent to $32,204.47 today adjusted for inflation. I was single and doing fine.
In 1976 I changed careers, from flight instructing to designing fire sprinkler systems, and got serious with income. My best money years were the 1980's when I had earnings above the social security limits as in 1988 when the max earning was $45,000 and 1989 when the max earning subject to SS tax was $48,000. It was kind of neat I remember I sort of got a "raise" in August when they stopped deducting SS tax from my paycheck. I paid 7.51% of $48,000 which was $3,604.80 plus $3,604.90 self employment for a total of $7,209.60. Adjusted for inflation $7,209.60 in 1989 is equivalent to $17,219.96 today so I did pay into social security earning my benefit.
What I would like to see is a voluntary SS contribution so someone that works hard, a construction worker, can retire earlier than his FRA if they so want to do so. Maybe an extra 1% tax will allow a FRA of 66 instead of 67? Paying an extra 5% might lower the FRA to 60?
I've seen plenty of roofers in my day and at 65 most can't do the work anymore, it's to hard, and many would simply be unsafe atop a roof. Not sure of the numbers but I would like to see something like that.
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