There are a lot of people bitching about how they can get a better return on their money then they can with Social Security. They say if only they could invest that money they could get X% return and over X years it would be more than they can get on Social Security. Then some of those same people will turn around and bitch about how some people are getting more from Social Security than they paid in!! Now wouldn't that be getting a good return on your investment????????????
In the United States, Social Security is primarily the Old-Age, Survivors, and Disability Insurance (OASDI) federal program. The original Social Security Act(1935) and the current version of the Act, as amended, encompass several social welfare and social insurance programs.
Social Security was originally meant to be an Old-Age insurance program. It's like the annuities that insurance companies sell to people. With the insurance annuity you pay a fixed amount every month and then when you reach a certain age the insurance company sends you a check every month. The difference with Social Security is that you pay in a percentage of your wages and then when you reach retirement age the amount you get each month is determined by what your income was when you were working. Where an insurance annuity and Social Security are alike is when you die the checks stop coming. Also if you die before the set age, neither the insurance company or Social Security will pay out anything. What it boils down is that a lot of people think it's fine that they personally get back more than they paid in to the system but they don't anyone else to do the same.
From what I've seen, the people who bitch about Social Security being taken out of their check are the same people who don't manage to save a dime otherwise. If you ask them if they've got an IRA or even a normal savings account, the answer is usually No. If it wasn't for Social Security, they'd have no retirement income at all. They'd end up working at Walmart until they croaked.
That explains the old fuckers that great you at the door at Walmart instead of being home playing with the grandkids.
ReplyDeleteSarge
In all my working years I never bitched about them taking money out of my paycheck for SS. And I'm thankful for the program or I wouldn't have an income now. Will I get back more than I paid in? I have no idea, it is a crap shoot but it works for me and I'm going fishing Tuesday.
ReplyDeleteSarge, they still have greeters at Wally-World?? I thought they got rid of them years ago in their cutting back on the number of employees. If they don't have enough people to stock the shelves, why would they keep someone who is only there to say "Hi" to people??
ReplyDeleteBBC, how much you get back from Social Security depends on how long you live. If you live long enough, you'll get back more than you paid in.
Which brings to mind another thought, those that bitch about people getting more from SS than they paid in hate old people for living so long!!
As I recall, and I may be wrong, but the SS money we pay is supposed to be invested and grow, draw interest. I don't think it is a bad program at all, but it is abused.
ReplyDeleteThe surplus SS money goes into Treasury bonds. SS is the biggest owner of the national debt. Over 3 Trillion or so of the national debt is SS. That's why the rich bastards want to kill SS, so they won't raise taxes to pay back the SS surplus.
ReplyDeleteThe greedy fucks don't care about you and me and they got enough they don't need SS. Have you noticed the ones talking about how we have to change SS (cut benefits, raise the retirement age, etc....) are the ones that don't need it. (Also they aren't doing physical labor, so they could sit at their desks until they die!!) The thing that gets me is SS is such a small percentage of their taxes because once you hit $110,000 you don't pay anymore SS tax. But it's like they want to kill SS so they won't have to pay any SS tax, what a bunch of greedy fucks!!
the only complaint I have about Social Security is that after working for twenty five years and paying in, mine was cut by fifty-percent because I earned a second small teachers retirement from Alaska.
ReplyDeleteBut viva Social Security.
the Ol'Buzzard
the government has been dipping into the Social Security fund for years; now they are worried about a shortfall.
ReplyDeletethe Ol'Buzzard