Federal Benefit Payment

[Oldgrunt]

Don't know if this has been around before or not.




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SOCIAL SECURITY NOW CALLED "FEDERAL BENEFIT PAYMENT"/ENTITLEMNET! WAKE UP PEOPLE!!!!!!!

SOCIAL SECURITY NOW CALLED 'FEDERAL BENEFIT PAYMENT'/ENTITLEMENT!

Have you noticed, your Social Security check is now referred to as a "federal benefit payment"?

I'll be part of the one percent, to forward this, our government gets away with way too much in all areas of our lives, while they live lavishly on their grossly overpaid incomes! KEEP passing THIS AROUND UNTIL EVERY ONE HAS READ IT.....

SOMETHING TO THINK ABOUT THE ONLY THING WRONG WITH THIS CALCULATION IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY COLLECTED THEIR SOCIAL SECURITY!!!! WHERE DID THAT MONEY GO?????????????

This was sent to me, I am forwarding it because it does touch a nerve in me. This is another example of what Rick Perry called "TREASON in high places" !!! Get angry and pass this on! Remember, not only did you contribute to Social Security but your employer did too. It totaled 15% of your income before taxes. If you averaged only $30K over your working life, that's close to $220,500. If you calculate the future value of $4,500 per year (yours & your employer's contribution) at a simple 5% (less than what the government pays on the money that it borrows), after 49 years of working you'd have $892,919.98.

If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month.

The folks in Washington have pulled off a bigger Ponzi scheme than Bernie Madhoff ever had. Entitlement my butt, I paid cash for my social security insurance!!!! Just because they borrowed the money, doesn't make my benefits some kind of charity or handout!!

Congressional benefits ---- free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days, now that's welfare, and they have the nerve to call my social security retirement entitlements?

We're "broke" and can't help our own Seniors, Veterans, Orphans, Homeless. In the last months we have provided aid to Haiti, Chile , and Turkey . And now Pakistan ......home of bin Laden. Literally, BILLIONS of DOLLARS!!!

Our retired seniors living on a 'fixed income' receive no aid nor do they get any breaks while our government and religious organizations pour Hundreds of Billions of $$$$$$'s and Tons of Food to Foreign Countries!

They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives and now when it’s time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? Imagine if the *GOVERNMENT* gave 'US' the same support they give to other countries.

Sad isn't it?

99% of people won't have the guts to forward this. I'm one of the 1% -- I Just Did.

 

[Tucker's Mom]

I did too. Thanks OG...

 

[fuhr52]

Why did the government borrow from the Social Security Fund? I should say was stolen. Borrow implies they intent to pay it back. Politicians can't stand there might be some money piing up there not spending. Spend today we will worry about it tomorrow. Well tomorrow is now here.

 

[dcselby1]

Don't know if this has been around before or not.




-

SOCIAL SECURITY NOW CALLED "FEDERAL BENEFIT PAYMENT"/ENTITLEMNET! WAKE UP PEOPLE!!!!!!!

SOCIAL SECURITY NOW CALLED 'FEDERAL BENEFIT PAYMENT'/ENTITLEMENT!

Have you noticed, your Social Security check is now referred to as a "federal benefit payment"?

I'll be part of the one percent, to forward this, our government gets away with way too much in all areas of our lives, while they live lavishly on their grossly overpaid incomes! KEEP passing THIS AROUND UNTIL EVERY ONE HAS READ IT.....

SOMETHING TO THINK ABOUT THE ONLY THING WRONG WITH THIS CALCULATION IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY COLLECTED THEIR SOCIAL SECURITY!!!! WHERE DID THAT MONEY GO?????????????

This was sent to me, I am forwarding it because it does touch a nerve in me. This is another example of what Rick Perry called "TREASON in high places" !!! Get angry and pass this on! Remember, not only did you contribute to Social Security but your employer did too. It totaled 15% of your income before taxes. If you averaged only $30K over your working life, that's close to $220,500. If you calculate the future value of $4,500 per year (yours & your employer's contribution) at a simple 5% (less than what the government pays on the money that it borrows), after 49 years of working you'd have $892,919.98.

If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month.

The folks in Washington have pulled off a bigger Ponzi scheme than Bernie Madhoff ever had. Entitlement my butt, I paid cash for my social security insurance!!!! Just because they borrowed the money, doesn't make my benefits some kind of charity or handout!!

Congressional benefits ---- free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days, now that's welfare, and they have the nerve to call my social security retirement entitlements?

We're "broke" and can't help our own Seniors, Veterans, Orphans, Homeless. In the last months we have provided aid to Haiti, Chile , and Turkey . And now Pakistan ......home of bin Laden. Literally, BILLIONS of DOLLARS!!!

Our retired seniors living on a 'fixed income' receive no aid nor do they get any breaks while our government and religious organizations pour Hundreds of Billions of $$$$$$'s and Tons of Food to Foreign Countries!

They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives and now when it’s time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? Imagine if the *GOVERNMENT* gave 'US' the same support they give to other countries.

Sad isn't it?

99% of people won't have the guts to forward this. I'm one of the 1% -- I Just Did.

I've always refused to forward this e-mail. To do so is to admit that I have no idea how Social Security (or Congress) works. Every time I see this (and it's been around quite a while) I ask the sender why he/she is upset. After all, the American people allowed this to happen. Congress gets away with what WE allow them to get away with. There are people out there (Many, many) who actually believe that "their" money is put into a "lock box" for when they retire. Why? Because they do not take the time to educate themselves in how THEIR government operates. We have no one to blame but ourselves. WHEN IN HELL WILL PEOPLE UNDERSTAND THIS? A representative government is NOT a spectator sport.

 

[Oldgrunt]

I've always refused to forward this e-mail. To do so is to admit that I have no idea how Social Security (or Congress) works. Every time I see this (and it's been around quite a while) I ask the sender why he/she is upset. After all, the American people allowed this to happen. Congress gets away with what WE allow them to get away with. There are people out there (Many, many) who actually believe that "their" money is put into a "lock box" for when they retire. Why? Because they do not take the time to educate themselves in how THEIR government operates. We have no one to blame but ourselves. WHEN IN HELL WILL PEOPLE UNDERSTAND THIS? A representative government is NOT a spectator sport.

DC: I don't know why you get upset since you said, "Congress gets away with what WE allow them to get away with." Please, do not include me in that collective "We" because I do whatever I can to try to change the system and think I have enlightened myself somewhat to how our government works. As an individual, I am unable to do much. I can, however, try to get others steamed up enough to do their part also. Maybe, if you had forwarded this, it would have helped someone else to form an opinion or to help in our decision making processes. I had never seen it before but thought it worthy of being put on here. I definitely agree that government is not a spectator sport. I understand my part in a representative government and exercise it to my fullest. How about you?

 

[FN1910]

Back 40 years ago when I was in college we did these calculations in one of my classes to show back then how SS was being distorted and misused. The problem with SS is not necessarily what everyone worries about with the government "borrowing" from it but rather all of the categories added to the system that never pay anything into it at all. It was originally a supplemental retirement system for those who had no other retirement system in place and a large portion of Americans did not pay into the system. For instance railroad workers and Federal employees did not have to pay into it. But both could retire from their job then get a job in the private industry for a few years and draw the maximum monthly amount just like someone who had paid into the system for 45 years.

The basis for SS is solid but it has been so mismanaged until it is a disaster. The OP may be shocking to some but is nothing new and every time someone starts to try and correct the problems with SS they look to the court of public opinion for solutions and just screw it up more. I have come to the opinion that the average American does not have the math abilities or background knowledge to understand how SS works and why it is so screwed up. Congress knows this and will not try to fix it.

 

[dcselby1]

Back 40 years ago when I was in college we did these calculations in one of my classes to show back then how SS was being distorted and misused. The problem with SS is not necessarily what everyone worries about with the government "borrowing" from it but rather all of the categories added to the system that never pay anything into it at all. It was originally a supplemental retirement system for those who had no other retirement system in place and a large portion of Americans did not pay into the system. For instance railroad workers and Federal employees did not have to pay into it. But both could retire from their job then get a job in the private industry for a few years and draw the maximum monthly amount just like someone who had paid into the system for 45 years.

The basis for SS is solid but it has been so mismanaged until it is a disaster. The OP may be shocking to some but is nothing new and every time someone starts to try and correct the problems with SS they look to the court of public opinion for solutions and just screw it up more. I have come to the opinion that the average American does not have the math abilities or background knowledge to understand how SS works and why it is so screwed up. Congress knows this and will not try to fix it.

FN1910:
I pretty much agree with you except that I think Congress doesn't want to really FIX the system because that would deprive them of the money that it brings in that they like to spend so much. We all know (or should know) that there IS no "lock box" for Social Security deductions as the politicians like to say. They spend the money and, essentially, write an I.O.U. to the Treasury. This is the reason that the Dem's (mostly) scream so loudly when anyone talks about "privatization" of the Social Security system where money would be invested and, thus, untouchable by Congress.

There are a couple of countries which have very successfully "privatized" their Social Security program. Chili is a good example. People contribute a minimum of TEN percent (optional to 20%) of your income and people retire between 55 and 65, depending on how much thecontributeded (with MUCH more money than our system). Unlike OUR system of Social Security (which is not designed as aretirementnt" program) where there is NO guarantee at all that you wilreceiveve "your" money, people in Chili ARE guaranteed to receive theirs. Check it out if you're interested here: The Sucess of Chile's Privatized Social Security There is absolutely no reason we could not do something similar here that woulactuallyly allow EVERYONE a real retirement and give our economy a TREMENDOUS, continual boost.

 

[FN1910]

@dcselby1
I can't disagree with a thing you said as it is a source of income for the Feds that would really put a hurting on Congress if they were to lose it. I think that they would like to fix it but realize that they can't without a major overhaul of everything else. Therefore they don't want to touch it other than some minor change that they can brag about at election time. I wonder what were our grandparents thinking when they re-elected FDR three times.

 

[Oldgrunt]

@dcselby1
I can't disagree with a thing you said as it is a source of income for the Feds that would really put a hurting on Congress if they were to lose it. I think that they would like to fix it but realize that they can't without a major overhaul of everything else. Therefore they don't want to touch it other than some minor change that they can brag about at election time. I wonder what were our grandparents thinking when they re-elected FDR three times.

Correct me if I am wrong but wasn't it Lyndon Johnson who took control of Social Security funds and had that money put in the General Fund? There was a "lock box" of sorts until that time but, leave it to the politicians, they opened the box to get more money. As long as government is able to arbitrarily shift money around like that, we will never have a stable system. First and foremost, we need stable representatives in govermnent. We are sorely lacking them now.

 

[FN1910]

You are correct that is was LBJ who first dipped into the SS funds. It is funny but when I made the statement about FDR I almost added thank goodness that LBJ decided not to run for re-election. If you look at that history of SS what you find is that when first enacted it actually covered very few Americans. As time moved on more and more were brought into the system who started receiving full benefits having paid very little into the system. For many years the SS system was voluntary for most Americans. I remember when farmers were not required to pay in but could opt. to join by paying in for a few back quarters. One man I know decided to retire and his first check was as much as he had paid in total. Not only that but he had several infant children that continued receiving benefits and in one case for the next 20+ years.