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Not if your parents didn't. You'd be collecting on your parents SSDI, That's like saying its possible to get (fill in the blank) without having to pay for it - obviously if your parents pay for it, you didn't have to. Doesn't mean it wasn't paid for.Only for those under age 22 - and then their parents must have paid enough credits.
What if the parent never worked?Benefits For Adults Disabled Before Age 22: Disability Planner
BTW - did you know its possible to get injured your very first day of work and collect workman's comp? I know the concept of insurance escapes you - but many forms of insurance begin as soon you start paying in. That's the whole idea - you're paying for risk coverage, not for a rainy day account.
Thanks for proving it is actually possible to get SSDI without actually paying into it.
Really? Because the anti-SS crowd doesn't seem to get that.TANSTAAFL, everything is paid for by somebody.
Can you explain what happens to your hypothetical person if their parents already collected SSDI? Or are actively collecting SS? Just because somebody made up a rule that makes it look like it was paid for by the parents does not mean it was, it just means that said person is qualified under those circumstances, and will receive it.
Insurance is paying someone to assume the risk, SS is not.
SS assumes part of the risk of living to an age too old to work or becoming disabled from work.
We've been through this before, a zillion times.
No, they wouldn't. If you can convince people to just give you their money for nothing in return, and you're paying the applicable taxes, and you're using no deceit, that's not at all illegal. Why would it be?Are you saying that if I ran a Ponzi game that actually told people that I was not investing money the government would not have me up on charges of running a Ponzi scheme?
Our gold does not backup the currency.
The gold held by the Treasury for the Federal Reserve IS held as collateral against outstanding Federal Reserve Notes - just like Treasury bills, notes, and bonds, and (now) mortgages.
Insurance is paying someone to assume the risk, SS is not.
SS assumes part of the risk of living to an age too old to work or becoming disabled from work.
We've been through this before, a zillion times.
No, they wouldn't. If you can convince people to just give you their money for nothing in return, and you're paying the applicable taxes, and you're using no deceit, that's not at all illegal. Why would it be?Are you saying that if I ran a Ponzi game that actually told people that I was not investing money the government would not have me up on charges of running a Ponzi scheme?
SS does not assume any risk.
What it does now is serve as the primary retirement fund of most Americans.
You idiots made it to expensive for me, so now you have to pay for my health care.
I did no such thing. Please stop whining.
Really? Because the anti-SS crowd doesn't seem to get that.TANSTAAFL, everything is paid for by somebody.
It means coverage for your children to a certain age is part of what you get when you pay for SSDI coverage.Can you explain what happens to your hypothetical person if their parents already collected SSDI? Or are actively collecting SS? Just because somebody made up a rule that makes it look like it was paid for by the parents does not mean it was, it just means that said person is qualified under those circumstances, and will receive it.
Our gold does not backup the currency.
The gold held by the Treasury for the Federal Reserve IS held as collateral against outstanding Federal Reserve Notes - just like Treasury bills, notes, and bonds, and (now) mortgages.
No it is not, and it hasn't been since 1933.
Assets, liabilities, and capital Aug 31, 2011 Sep 8, 2010
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 2,195 - 6 + 128
Securities, repurchase agreements, and loans 2,661,982 + 3,442 + 559,481
Securities held outright (1) 2,650,320 + 3,486 + 600,756
U.S. Treasury securities 1,655,599 + 3,486 + 865,705
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 1,560,925 + 3,470 + 836,544
Notes and bonds, inflation-indexed (2) 66,754 0 + 25,094
Inflation compensation (3) 9,497 + 16 + 4,067
Federal agency debt securities (2) 109,776 0 - 46,726
Mortgage-backed securities (4) 884,945 0 - 218,223
Repurchase agreements (5) 0 0 0
Loans 11,661 - 45 - 41,276
Net portfolio holdings of Maiden Lane LLC (6) 18,257 + 27 - 10,813
Net portfolio holdings of Maiden Lane II LLC (7) 9,956 - 153 - 5,858
Net portfolio holdings of Maiden Lane III LLC (8) 21,406 + 79 - 1,593
Net portfolio holdings of TALF LLC (9) 775 0 + 200
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (10) 0 0 - 25,733
Items in process of collection (129) 331 + 71 - 81
Bank premises 2,183 - 6 - 40
Central bank liquidity swaps (11) 0 0 - 64
Other assets (12) 128,821 + 1,296 + 37,421
Total assets (129) 2,862,144 + 4,750 + 553,050
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Eliminations from Wednesday Change since
consolidation Sep 7, 2011 Wednesday Wednesday
Assets, liabilities, and capital Aug 31, 2011 Sep 8, 2010
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,001,525 + 5,469 + 87,838
Reverse repurchase agreements (13) 102,756 - 1,788 + 43,954
Deposits (0) 1,685,185 + 379 + 423,347
Term deposits held by depository institutions 0 0 - 2,119
Other deposits held by depository institutions 1,610,237 + 18,242 + 557,834
U.S. Treasury, General Account 22,841 - 19,640 + 17,982
U.S. Treasury, Supplementary Financing Account 0 0 - 199,957
Foreign official 3,242 + 567 + 1,121
Other (0) 48,865 + 1,211 + 48,487
Deferred availability cash items (129) 2,198 + 780 - 925
Other liabilities and accrued dividends (14) 18,577 - 103 + 3,548
Total liabilities (129) 2,810,241 + 4,737 + 557,762
Capital accounts
Capital paid in 25,951 + 6 - 724
Surplus 25,951 + 6 + 94
Other capital accounts 0 0 - 4,083
Total capital 51,903 + 13 - 4,712
Really? Because the anti-SS crowd doesn't seem to get that.TANSTAAFL, everything is paid for by somebody.
It means coverage for your children to a certain age is part of what you get when you pay for SSDI coverage.Can you explain what happens to your hypothetical person if their parents already collected SSDI? Or are actively collecting SS? Just because somebody made up a rule that makes it look like it was paid for by the parents does not mean it was, it just means that said person is qualified under those circumstances, and will receive it.
You also get partial coverage for your spouses old-age if you are covered by SS retirement.
Its not really that fucking complicated.
SS assumes part of the risk of living to an age too old to work or becoming disabled from work.
We've been through this before, a zillion times.
No, they wouldn't. If you can convince people to just give you their money for nothing in return, and you're paying the applicable taxes, and you're using no deceit, that's not at all illegal. Why would it be?
SS does not assume any risk.
You pay a premium. If you become old or disabled, you get paid.
I fail to see how that isn't a partial assumption of the risk of old age or disability
Link?What it does now is serve as the primary retirement fund of most Americans.
You idiots made it to expensive for me, so now you have to pay for my health care.
I did no such thing. Please stop whining.
You whinged about me not having enough insurance, and demanded the government fix it, even though I had no problem with it. That makes it your fault.
The gold held by the Treasury for the Federal Reserve IS held as collateral against outstanding Federal Reserve Notes - just like Treasury bills, notes, and bonds, and (now) mortgages.
No it is not, and it hasn't been since 1933.
Wrong
FRB: H.4.1 Release--Factors Affecting Reserve Balances--September 8, 2011Assets, liabilities, and capital Aug 31, 2011 Sep 8, 2010
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 2,195 - 6 + 128
Securities, repurchase agreements, and loans 2,661,982 + 3,442 + 559,481
Securities held outright (1) 2,650,320 + 3,486 + 600,756
U.S. Treasury securities 1,655,599 + 3,486 + 865,705
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 1,560,925 + 3,470 + 836,544
Notes and bonds, inflation-indexed (2) 66,754 0 + 25,094
Inflation compensation (3) 9,497 + 16 + 4,067
Federal agency debt securities (2) 109,776 0 - 46,726
Mortgage-backed securities (4) 884,945 0 - 218,223
Repurchase agreements (5) 0 0 0
Loans 11,661 - 45 - 41,276
Net portfolio holdings of Maiden Lane LLC (6) 18,257 + 27 - 10,813
Net portfolio holdings of Maiden Lane II LLC (7) 9,956 - 153 - 5,858
Net portfolio holdings of Maiden Lane III LLC (8) 21,406 + 79 - 1,593
Net portfolio holdings of TALF LLC (9) 775 0 + 200
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (10) 0 0 - 25,733
Items in process of collection (129) 331 + 71 - 81
Bank premises 2,183 - 6 - 40
Central bank liquidity swaps (11) 0 0 - 64
Other assets (12) 128,821 + 1,296 + 37,421
Total assets (129) 2,862,144 + 4,750 + 553,050
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Eliminations from Wednesday Change since
consolidation Sep 7, 2011 Wednesday Wednesday
Assets, liabilities, and capital Aug 31, 2011 Sep 8, 2010
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,001,525 + 5,469 + 87,838
Reverse repurchase agreements (13) 102,756 - 1,788 + 43,954
Deposits (0) 1,685,185 + 379 + 423,347
Term deposits held by depository institutions 0 0 - 2,119
Other deposits held by depository institutions 1,610,237 + 18,242 + 557,834
U.S. Treasury, General Account 22,841 - 19,640 + 17,982
U.S. Treasury, Supplementary Financing Account 0 0 - 199,957
Foreign official 3,242 + 567 + 1,121
Other (0) 48,865 + 1,211 + 48,487
Deferred availability cash items (129) 2,198 + 780 - 925
Other liabilities and accrued dividends (14) 18,577 - 103 + 3,548
Total liabilities (129) 2,810,241 + 4,737 + 557,762
Capital accounts
Capital paid in 25,951 + 6 - 724
Surplus 25,951 + 6 + 94
Other capital accounts 0 0 - 4,083
Total capital 51,903 + 13 - 4,712
Being listed on a balance sheet does not make it collateral against anything, it just makes it an asset, just like the other assets listed, including the land the government owns.
Being listed on a balance sheet does not make it collateral against anything, it just makes it an asset, just like the other assets listed, including the land the government owns.
LOL! OK, the Federal Reserve just has 11 billion dollars worth of gold (by its accounting) just for fun, right buddy!
You know that thing they issue called "banknotes" ? Do you know what a banknote is? Its a claim on the assets of the issuing bank. Federal Reserve Notes are backed by the assets of the Federal Reserve - 11 billion worth of gold is one of those assets.
Being listed on a balance sheet does not make it collateral against anything, it just makes it an asset, just like the other assets listed, including the land the government owns.
LOL! OK, the Federal Reserve just has 11 billion dollars worth of gold (by its accounting) just for fun, right buddy!
You know that thing they issue called "banknotes" ? Do you know what a banknote is? Its a claim on the assets of the issuing bank. Federal Reserve Notes are backed by the assets of the Federal Reserve - 11 billion worth of gold is one of those assets.
Oh gee and we have 16 trillion in debt and counting...DOH!
LOL! OK, the Federal Reserve just has 11 billion dollars worth of gold (by its accounting) just for fun, right buddy!
You know that thing they issue called "banknotes" ? Do you know what a banknote is? Its a claim on the assets of the issuing bank. Federal Reserve Notes are backed by the assets of the Federal Reserve - 11 billion worth of gold is one of those assets.
Oh gee and we have 16 trillion in debt and counting...DOH!
Brilliant non-sequitor!
Oh gee and we have 16 trillion in debt and counting...DOH!
Brilliant non-sequitor!
A non sequitur, as a literary devise, to express a humorous derision towards your post...absolutely!
With 16 trillion in debt and counting, do tell us all about US assets in the balance of that reality.
By the way you should learn to spell a word you are going to use as an insult to someone.
LOL! OK, the Federal Reserve just has 11 billion dollars worth of gold (by its accounting) just for fun, right buddy!
You know that thing they issue called "banknotes" ? Do you know what a banknote is? Its a claim on the assets of the issuing bank. Federal Reserve Notes are backed by the assets of the Federal Reserve - 11 billion worth of gold is one of those assets.
LOL! OK, the Federal Reserve just has 11 billion dollars worth of gold (by its accounting) just for fun, right buddy!
You know that thing they issue called "banknotes" ? Do you know what a banknote is? Its a claim on the assets of the issuing bank. Federal Reserve Notes are backed by the assets of the Federal Reserve - 11 billion worth of gold is one of those assets.
Hmmmmm . . . . wrong. The federal reserve is not legally required to give you anything in exchange for banknotes except another bank note.
2. Application for Notes by Federal Reserve Banks
Any Federal Reserve bank may make application to the local Federal Reserve agent for such amount of the Federal Reserve notes hereinbefore provided for as it may require. Such application shall be accompanied with a tender to the local Federal Reserve agent of collateral in amount equal to the sum of the Federal Reserve notes thus applied for and issued pursuant to such application. The collateral security thus offered shall be notes, drafts, bills of exchange, or acceptances acquired under section 10A, 10B, 13, or 13A of this Act, or bills of exchange endorsed by a member bank of any Federal Reserve district and purchased under the provisions of section 14 of this Act, or bankers' acceptances purchased under the provisions of said section 14, or gold certificates, or Special Drawing Right certificates, or any obligations which are direct obligations of, or are fully guaranteed as to principal and interest by, the United States or any agency thereof, or assets that Federal Reserve banks may purchase or hold under section 14 of this Act or any other asset of a Federal reserve bankIn no event shall such collateral security be less than the amount of Federal Reserve notes applied for. The Federal Reserve agent shall each day notify the Board of Governors of the Federal Reserve System of all issues and withdrawals of Federal Reserve notes to and by the Federal Reserve bank to which he is accredited. The said Board of Governors of the Federal Reserve System may at any time call upon a Federal Reserve bank for additional security to protect the Federal Reserve notes issued to it. Collateral shall not be required for Federal Reserve notes which are held in the vaults of, or are otherwise held by or on behalf of, Federal Reserve banks.
http://www.federalreserve.gov/aboutthefed/section16.htm
