Is Social Security welfare?

[kaz]

They will never end it. They know what it would lead to. Not a pretty sight. The hardest working most productive people on earth don't do that to each other. American workers are the hardest working least complaining workers in the world by far.

I agree, but that isn't the point of the thread

 

[kaz]

The money is spent as it comes in. How do you pay someone from a trust fund with no money in it? All the Feds did is write down what they spent

Because the far left voted to raid the SS trust!

Today, the federal government automatically puts all of the money that should be set aside for the Social Security Trust Fund into the General Fund. Raiding the Social Security Trust Fund was a precedent set in 1968 by president, Lyndon B. Johnson, to help pay for the Vietnam War. To date, the federal government has borrowed over $2 trillion from the Social Security Trust Fund to spend on other programs

OK, but the left steal from us every day. How does that make taxes you paid that were not saved a trust fund? It's welfare, Holmes, you're getting a check funded by your children just like any other welfare recipient

Taxes are disturbed differently as you pay specifically into the SS fund for your retirement! Also you pay for Medicare out of your check as it is another specific payment, which Obama robbed to pay for Obamacare!

It is a huge difference and you need to learn that!

Federal taxes - paid into the general fund
Social security taxes - paid into the general fund

Government spending - paid out of the general fund
Social Security payments - paid out of the general fund
Welfare payments - paid out of the general fund

I need to learn what again, Holmes? You seem to be the one with catching up to do

Wrong again!

The Social Security Administration collects payroll taxes and uses the money collected to pay Old-Age, Survivors, and Disability Insurance benefits by way of trust funds. When the program runs a surplus, the excess funds increase the value of the Trust Fund. At the end of 2014, the Trust Fund contained (or alternatively, was owed) $2.79 trillion, up $25 billion from 2013.

Amazing how when the Government spends FICA taxes as they come in the money is still in a trust fund. Poof!

 

[initforme]

Its impossible to save when making a pittance of a measely 15 bucks an hour.

 

[boedicca]

SS started out as welfare. The early recipients received far more in benefits than they would have earned on their contributions via private investment. That's because of the huge ratio of workers to recipients back then.

For current workers, the ROI on SS contributions will be negative - so I wouldn't call that welfare. It's a PONZI Scheme that is collapsing. For people who paid in, and have been promised benefits that are part of their retirement planning - it is NOT WELFARE. It is repayment for money they should have been able to keep and invest for themselves. But we are a the point where it's going to be mean tested, and a lot of middle class people are going to be screwed, especially if they have a paid off home.

I realized when I first started working that SS was a scam, and have saved and invested so that I can retire without it. I recommend that people who are young enough to do so make a similar assumption and plan accordingly.

 

[Kosh]

Because the far left voted to raid the SS trust!

Today, the federal government automatically puts all of the money that should be set aside for the Social Security Trust Fund into the General Fund. Raiding the Social Security Trust Fund was a precedent set in 1968 by president, Lyndon B. Johnson, to help pay for the Vietnam War. To date, the federal government has borrowed over $2 trillion from the Social Security Trust Fund to spend on other programs

OK, but the left steal from us every day. How does that make taxes you paid that were not saved a trust fund? It's welfare, Holmes, you're getting a check funded by your children just like any other welfare recipient

Taxes are disturbed differently as you pay specifically into the SS fund for your retirement! Also you pay for Medicare out of your check as it is another specific payment, which Obama robbed to pay for Obamacare!

It is a huge difference and you need to learn that!

Federal taxes - paid into the general fund
Social security taxes - paid into the general fund

Government spending - paid out of the general fund
Social Security payments - paid out of the general fund
Welfare payments - paid out of the general fund

I need to learn what again, Holmes? You seem to be the one with catching up to do

Wrong again!

The Social Security Administration collects payroll taxes and uses the money collected to pay Old-Age, Survivors, and Disability Insurance benefits by way of trust funds. When the program runs a surplus, the excess funds increase the value of the Trust Fund. At the end of 2014, the Trust Fund contained (or alternatively, was owed) $2.79 trillion, up $25 billion from 2013.

Amazing how when the Government spends FICA taxes as they come in the money is still in a trust fund. Poof!

Yes you can thank the far left for the SS insolvency.

Every time the far left gains power they destroy everything they touch.

 

[Auld Phart]

Social security is a big reason to love america. Working until you are 80 is bad in every way.

Working until you are 80 is bad in every way.

Not if it is your choice.

If you are forced to work until you are 80, just to survive, yes, it IS wrong

 

[boedicca]

Because the far left voted to raid the SS trust!

Today, the federal government automatically puts all of the money that should be set aside for the Social Security Trust Fund into the General Fund. Raiding the Social Security Trust Fund was a precedent set in 1968 by president, Lyndon B. Johnson, to help pay for the Vietnam War. To date, the federal government has borrowed over $2 trillion from the Social Security Trust Fund to spend on other programs

OK, but the left steal from us every day. How does that make taxes you paid that were not saved a trust fund? It's welfare, Holmes, you're getting a check funded by your children just like any other welfare recipient

Taxes are disturbed differently as you pay specifically into the SS fund for your retirement! Also you pay for Medicare out of your check as it is another specific payment, which Obama robbed to pay for Obamacare!

It is a huge difference and you need to learn that!

Federal taxes - paid into the general fund
Social security taxes - paid into the general fund

Government spending - paid out of the general fund
Social Security payments - paid out of the general fund
Welfare payments - paid out of the general fund

I need to learn what again, Holmes? You seem to be the one with catching up to do

Wrong again!

The Social Security Administration collects payroll taxes and uses the money collected to pay Old-Age, Survivors, and Disability Insurance benefits by way of trust funds. When the program runs a surplus, the excess funds increase the value of the Trust Fund. At the end of 2014, the Trust Fund contained (or alternatively, was owed) $2.79 trillion, up $25 billion from 2013.

Amazing how when the Government spends FICA taxes as they come in the money is still in a trust fund. Poof!

It's not a TRUST FUND. It's a bunch of IOUs that people who will never get SS will pay via heavy tax burdens for their entire lives.

 

[Kosh]

SS started out as welfare. The early recipients received far more in benefits than they would have earned on their contributions via private investment. That's because of the huge ratio of workers to recipients back then.

For current workers, the ROI on SS contributions will be negative - so I wouldn't call that welfare. It's a PONZI Scheme that is collapsing. For people who paid in, and have been promised benefits that are part of their retirement planning - it is NOT WELFARE. It is repayment for money they should have been able to keep and invest for themselves. But we are a the point where it's going to be mean tested, and a lot of middle class people are going to be screwed, especially if they have a paid off home.

I realized when I first started working that SS was a scam, and have saved and invested so that I can retire without it. I recommend that people who are young enough to do so make a similar assumption and plan accordingly.

SS started out as ploy for the Governmnet to gain more money for the war effort that was supposed to be temporary, just like the income tax.

FDR sold it to the people that way.

 

[kaz]

SS started out as welfare. The early recipients received far more in benefits than they would have earned on their contributions via private investment. That's because of the huge ratio of workers to recipients back then.

For current workers, the ROI on SS contributions will be negative - so I wouldn't call that welfare. It's a PONZI Scheme that is collapsing. For people who paid in, and have been promised benefits that are part of their retirement planning - it is NOT WELFARE. It is repayment for money they should have been able to keep and invest for themselves. But we are a the point where it's going to be mean tested, and a lot of middle class people are going to be screwed, especially if they have a paid off home.

I realized when I first started working that SS was a scam, and have saved and invested so that I can retire without it. I recommend that people who are young enough to do so make a similar assumption and plan accordingly.

Welfare - taxes collected from your children
Social Security - taxes collected from your children

Explain the different. Your FICA taxes were spent as the money came in. Explain how that is money "invested"

 

[initforme]

It is the point. Call it what you want...welfare, socialism, etc. Makes no difference to me nor the people receiving it. Tens of millions are dependent on it....couldn't scrape by without it. There is no way to change this now. Doesn't matter what we call it.

 

[kaz]

OK, but the left steal from us every day. How does that make taxes you paid that were not saved a trust fund? It's welfare, Holmes, you're getting a check funded by your children just like any other welfare recipient

Taxes are disturbed differently as you pay specifically into the SS fund for your retirement! Also you pay for Medicare out of your check as it is another specific payment, which Obama robbed to pay for Obamacare!

It is a huge difference and you need to learn that!

Federal taxes - paid into the general fund
Social security taxes - paid into the general fund

Government spending - paid out of the general fund
Social Security payments - paid out of the general fund
Welfare payments - paid out of the general fund

I need to learn what again, Holmes? You seem to be the one with catching up to do

Wrong again!

The Social Security Administration collects payroll taxes and uses the money collected to pay Old-Age, Survivors, and Disability Insurance benefits by way of trust funds. When the program runs a surplus, the excess funds increase the value of the Trust Fund. At the end of 2014, the Trust Fund contained (or alternatively, was owed) $2.79 trillion, up $25 billion from 2013.

Amazing how when the Government spends FICA taxes as they come in the money is still in a trust fund. Poof!

It's not a TRUST FUND. It's a bunch of IOUs that people who will never get SS will pay via heavy tax burdens for their entire lives.

Then how are you saying it's not welfare if you admit you're paying zero for your own benefits?

 

[boedicca]

SS started out as welfare. The early recipients received far more in benefits than they would have earned on their contributions via private investment. That's because of the huge ratio of workers to recipients back then.

For current workers, the ROI on SS contributions will be negative - so I wouldn't call that welfare. It's a PONZI Scheme that is collapsing. For people who paid in, and have been promised benefits that are part of their retirement planning - it is NOT WELFARE. It is repayment for money they should have been able to keep and invest for themselves. But we are a the point where it's going to be mean tested, and a lot of middle class people are going to be screwed, especially if they have a paid off home.

I realized when I first started working that SS was a scam, and have saved and invested so that I can retire without it. I recommend that people who are young enough to do so make a similar assumption and plan accordingly.

Welfare - taxes collected from your children
Social Security - taxes collected from your children

Explain the different. Your FICA taxes were spent as the money came in. Explain how that is money "invested"

I didn't say that money was invested. I said people should have been able to keep their money to invest for their own retirement. Try reading my post again.

 

[kaz]

It is the point. Call it what you want...welfare, socialism, etc. Makes no difference to me nor the people receiving it. Tens of millions are dependent on it....couldn't scrape by without it. There is no way to change this now. Doesn't matter what we call it.

OK, that's one of the choices, right? Option 3?

 

[kaz]

SS started out as welfare. The early recipients received far more in benefits than they would have earned on their contributions via private investment. That's because of the huge ratio of workers to recipients back then.

For current workers, the ROI on SS contributions will be negative - so I wouldn't call that welfare. It's a PONZI Scheme that is collapsing. For people who paid in, and have been promised benefits that are part of their retirement planning - it is NOT WELFARE. It is repayment for money they should have been able to keep and invest for themselves. But we are a the point where it's going to be mean tested, and a lot of middle class people are going to be screwed, especially if they have a paid off home.

I realized when I first started working that SS was a scam, and have saved and invested so that I can retire without it. I recommend that people who are young enough to do so make a similar assumption and plan accordingly.

Welfare - taxes collected from your children
Social Security - taxes collected from your children

Explain the different. Your FICA taxes were spent as the money came in. Explain how that is money "invested"

I didn't say that money was invested. I said people should have been able to keep their money to invest for their own retirement. Try reading my post again.

Explain how you think it's "not welfare"

 

[kaz]

Its impossible to save when making a pittance of a measely 15 bucks an hour.

Bullshit, anyone can and should save. You just live below your means

 

[Kosh]

Taxes are disturbed differently as you pay specifically into the SS fund for your retirement! Also you pay for Medicare out of your check as it is another specific payment, which Obama robbed to pay for Obamacare!

It is a huge difference and you need to learn that!

Federal taxes - paid into the general fund
Social security taxes - paid into the general fund

Government spending - paid out of the general fund
Social Security payments - paid out of the general fund
Welfare payments - paid out of the general fund

I need to learn what again, Holmes? You seem to be the one with catching up to do

Wrong again!

The Social Security Administration collects payroll taxes and uses the money collected to pay Old-Age, Survivors, and Disability Insurance benefits by way of trust funds. When the program runs a surplus, the excess funds increase the value of the Trust Fund. At the end of 2014, the Trust Fund contained (or alternatively, was owed) $2.79 trillion, up $25 billion from 2013.

Amazing how when the Government spends FICA taxes as they come in the money is still in a trust fund. Poof!

It's not a TRUST FUND. It's a bunch of IOUs that people who will never get SS will pay via heavy tax burdens for their entire lives.

Then how are you saying it's not welfare if you admit you're paying zero for your own benefits?

Because it takes two people paying into the system to cover one person. Welfare is very different than SS..

 

[initforme]

If it is welfare then we are a welfare dependent older class. Without it....where do they go?

 

[Eaglewings]

Social Security is not welfare....But Senate Pension Plans are

 

[Anathema]

Yes it is welfare and I'd opt out of both paying it and receiving anything from it in an instant if possible.

It is NOT the job of Government to protect my personal interests or provide for my retirement. The moment I can't support myself is the moment I check out of life, PERMANENTLY.

 

[initforme]

Living below your means then means don't eat, don't buy clothes. Invest all of that teeny tiny paycheck.