The Truth About Social Security
 

This is something that EVERYONE needs to see. Thanks to The Other 98% for sharing this with us.

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Well, that graph gives the impression there is a problem with no income after 110k going into the program. That is not true.

The problem with social security is that the poor put barely anything into the program, yet take a lot out of the program. That's why the program doesn't work, not because the rich aren't footing the bill.

"The Truth About Social Security" is that most people on webmaster forums live on it.

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everyone should pay in the same. No pay in, no take out. Very simple.

Ironically you would have no problem qualifying for social security disability, just show them a few of your posts here.

How many millionaires and billionaires do you think actually draw social security?

Your point is?

Think about it, real hard.

In the country where I am social security is almost zero. Working pays off. But I know pretty many people who do have that kind of income and are bragging on forums they are king of sales. I am waiting for the day there is a Internet ID that connects all activity to your ID Number.....

It would clean the place up here a lot :)

Because they don't need it they shouldnt have to contribute? Same as someone who doesnt have kids shouldnt have to pay property taxes? Someone who doesnt drive shouldnt have to pay sales tax? Oh wait, you don't even live in America.

When I lived over in SA there was no Social Security, If you dident work you got nothing although there were charitys who would help people out.

Since we came back to the UK over 25 years ago I have been out of work for at the most 3 months, yes Iv been lucky to always be able to find work and tbh the social security helped me out in those 3 months but I hated signing and felt degraded.

What pisses me off, is the people who never work and just take take and take and never give anything back. Yes we have a lot of those people over here in the UK. They should have a cut of time, If you dont get a job within 6 months ..no more money and hand outs. Get off your ass and work or get nothing simple.

Tell that to Robin Hood... :2 cents:

Robin hood would have agreed. He took from the tax collectors and the nobles that lived on those taxes, and gave it back to the people they took it from in the first place.




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In Nottingham the castle still stands but the Robin Hood Center we bust earlier this year. :2 cents:

the whole thing is a scam anyway, it should be optional, not required by law...it's not much more than another disguised tax....pretty much everyone on here will get fraction back of what they put in... :2 cents:


but lets not worry about this minor detail, lets just tax the "1%" more and all our problems will go away...

Plenty. You really think they employ people full time to minimize their taxes and stop playing the game at 65? They will take every penny they can... Just won't talk about it.

but why wouldn't/shouldn't they? they paid into the system more than anyone else, so they don't deserve to get any of it back? :error

Because they are rich, duh!

It seems that with a lot of you, the NEW barometer of success is *how much can you get from Uncle Sam*.

Hugh Hefner collects social security.. when I saw that I was like.. Wut???

I never said they shouldn't. It was Minte that implied they don't.

Where do you get that idea? Most people pay taxes and do not use every trick in the book to minimize what that pay. That distinction would go to the likes of Mitt Romney who uses tax loopholes that Congress ends up having to close.

Its evident from posts here that some people don't even know what SS even is. :1orglaugh

Not according to many here,. Like I believe..the new mantra is.

Why work hard when I can get it all for free? Let some other dumb bastard work his ass off his whole life but don't forget to gimme mine!!

You do know you have to have a certain number of credits from paying in to get social security right? You know... That personalized pamphlet they mail every few years letting you know where you are?

isn't most of the debt of the US owed to its own social security?

And how many own businesses that have to match the employees contribution? That's a very overlooked tax. How many here even know the employer matches the taxpayers tax?

When I owned a retail business my taxes did stop at around $100,000. However I was matching the taxes of 40 plus employees. Yea ? I got off real easy and didn't pay my share.

You can judge how civilized a society is by how it treats its weakest citizens.

By that measure, the self confessed leader of the free world isn't very civilized.

I don't know about the US but there are plenty of 'former' millionaires in Europe on benefits now.

In the UK we call it National Insurance and that's a good name for it - When it works you get paid when you need it.

Anyone who is self-employed here should know that since you end up paying both sides for yourself.

Your system of standing on a street corner begging for money does have its merits. :error:1orglaugh

I am guessing that its the self important idiots moaning about others 'ponsing' off the state that pay the least and take the most.

i bet plenty do once they can. why wouldn't they? they paid into it. i don't know how it works in the states but in canada its mostly based on how much you paid into it. if you paid nothing or next to nothing you'll only get a few hundred a month.

Social Security was created when people lived to 68 or so with our expanding life spans there needs to be a correction on the way benefits are calculated.
2nd thing is that excess funds should not be considered part of the general budget fund and spent. They use a device called a Green Bond as an IOU. These bonds do not pay interest that is the second problem. If we solved these 2 things SS would be solvent.
But instead they will increase the minimum age to 70.

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:smilie_we

ADG

Your social security (N.I) also pays for your free healthcare and pension. so you will/do use it.

At least its % based in the UK. In Spain its $300 minimum a month. that's why there's so much black market working going on. Even if you earn $1000 a month you have to pay $300 in social security.

Netherlands was a fair system when I lived there, it's cheap if you earn a low wage around 30 euros then about 100euros if you earn more, that was 12 years ago though, so probably gone up.

Isn't this the Romney recipe?

In the UK National Insurance covered a multitude of things, including but not limited to Health benefits and Pensions. I used to pay around £650.00 a month 20 years ago when i lived there. That equates to around $1100.00 a month.

Also note that gas has a 60% tax, some of which was supposed to go towards the health system?
VAT ( sales tax ) or the tax paid on almost every item purchased in the UK is now 20% . 20 years ago it was 15%.. Imagine the tax on a new car !!!!!!!!!!
Im so glad i moved to the USA :thumbsup

Guys. Social Security is supposed to be YOU paying in enough money for YOU to get it back when you reach a certain age.

That is why it is capped at $110,000 per year.

It's not welfare, and it's not intended for one person to pay for another person.

Perfectly stated. :thumbsup

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It is welfare. It's a tax for stupid people who don't have the foresight to invest their earnings so they have something to rely on when they're old. It's also, in a simplified sense, a giant pool of money people put into, and then others can take out of (some more than others if they need it, some more than they put in, some less than they put in), which by definition really is welfare - it's a social structure to ensure the well being of the public.