Zone1 Social Security Scam

[Woodznutz]

not every employer offers a 401 and an IRA is only good for 6000 a year.

AND both of those are designed to squeeze as much tax revenue as possible from retirees

So you have the government not only taking 12.4% of your income only to mismanage it and cost you a return that would actually accrue wealth but your IRA and 401k are literally taxed until the day you die

Knowing this one should take steps to mitigate the damage.

 

[Couchpotato]

The important number is the life expectancy of someone who reaches retirement age. The older you get the more likely you are to live even longer. Early life mortality greatly affects overall life expectancy. For example, in 1935 6 percent of children died before their first birthday.

I'm 82, but my 'life expectancy' is 94.

Is that great for you. What about all the people who paid into the system and don’t live to 94. Or don’t even live long enough to collect. Their wealth Is just stolen. 12.6% of their lifetime earnings poof, gone. Their families do not get to benefit from their labor. It’s a generational wealth thief.

 

[Woodznutz]

SS is nothing but a tax and FYI you Ss payments are being paid by the money taken from people who are working today

Of course. I supported retirees with my SS contributions. Now it's my turn to collect.

 

[Couchpotato]

Knowing this one should take steps to mitigate the damage.

Yes we should have to plan around the government fucking us coming and going. We certainly shouldnt advocate for improving how it works.

 

[Woodznutz]

There is nothing in the Constitution that makes Social Security legal. They had to pull some tricky bullshit and call it a tax.

They could under a broad application of "promote the general welfare", which SS certainly does.

 

[Woodznutz]

Yes we should have to plan around the government fucking us coming and going. We certainly shouldnt advocate for improving how it works.

Best to just rationalize SS by deeming it a forced retirement plan that doesn't pay much interest along the way, and to make sure you don't actually need it for retirement (I used my benefit to pay down a mortgage and have invested the rest ever since).

 

[Couchpotato]

They could under a broad application of "promote the general welfare", which SS certainly does.

That’s the preamble and not one of the enumerated powers granted to the Federal Government. If it were the Fed could literally do anything under the guise of “general welfare“ or “ insuring domestic tranquility”.

 

[rightwinger]

There is nothing in the Constitution that makes Social Security legal. They had to pull some tricky bullshit and call it a tax.

Lots of things are not in the Constitution
It is only four pages long

 

[Woodznutz]

That’s the preamble and not one of the enumerated powers granted to the Federal Government. If it were the Fed could literally do anything under the guise of “general welfare“ or “ insuring domestic tranquility”.

They have certainly failed to "ensure domestic tranquility".
No death penalty, no tranquility.

 

[Woodznutz]

Is that great for you. What about all the people who paid into the system and don’t live to 94. Or don’t even live long enough to collect. Their wealth Is just stolen. 12.6% of their lifetime earnings poof, gone. Their families do not get to benefit from their labor. It’s a generational wealth thief.

Qualified survivors receive the deceased's SS bennys.

OASDI (Old Age Survivors and Disability Insurance)

The Social Security programs that provide monthly cash benefits to workers and their dependents when they retire, become disabled, or die.

 

[Couchpotato]

Lots of things are not in the Constitution
It is only four pages long

And all those things that arent in there the Federal Gvernment isn’t supposed to be doing.

 

[Couchpotato]

Qualified survivors receive the deceased's SS bennys.

OASDI (Old Age Survivors and Disability Insurance)

The Social Security programs that provide monthly cash benefits to workers and their dependents when they retire, become disabled, or die.

They get a portion, maybe. But they don’t get that persons wealth. Again trading dollars for cents.

Also shouldn’t the person who actually made the money get to decide where that money goes once their dead?

 

[Jarlaxle]

They are for 1950 and beyond though. In 1950 the life expectancy was 68. In 1965 it was 70. Taking that as a trend let’s assume the life expectancy in 1935 was 66. So SS had to pay out one year before the beneficiary was beyond their life expectancy.

By design. To make is solvent would be simple: make the age to collect the average life expectancy, plus two.

not every employer offers a 401 and an IRA is only good for 6000 a year.

AND both of those are designed to squeeze as much tax revenue as possible from retirees

So you have the government not only taking 12.4% of your income only to mismanage it and cost you a return that would actually accrue wealth but your IRA and 401k are literally taxed until the day you die

The money in my IRA is mine, no taxes owed.

 

[dblack]

Actually we need to get rid of it and let people hold their money in private accounts then people could decide for themselves when they want to retire.

But that denies the core purpose of SS - which is to give Congress more power. How else will they scare us into voting for them?

 

[Blues Man]

But that denies the core purpose of SS - which is to give Congress more power. How else will they scare us into voting for them?

Exactly.

The last thing the government wants is a large portion of the population to be financially independent.

 

[ThunderKiss1965]

Lots of things are not in the Constitution
It is only four pages long

So you admit that Social Security is unconstitutional.
10th Amendment
The powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people.

 

[Grumblenuts]

If you look up info about Social Security, you'll find

Social Security History

as opposed to this flaccid, whiney, old pile of myths and disinformation.

 

[Couchpotato]

Social Security History

as opposed to this flaccid, whiney, old pile of myths and disinformation.

Not a myth SS is a Government sanctioned and run Ponzi scheme that inhibits poor people from generating and passing on wealth from one generation to the next.

 

[rightwinger]

Not a myth SS is a Government sanctioned and run Ponzi scheme that inhibits poor people from generating and passing on wealth from one generation to the next.

Actually, it allows poor people to accumulate benefits that they can eventually retire on

Prior to Social Security, the poor worked until they died or lived off of family
SS allowed them to retire

 

[Blues Man]

Actually, it allows poor people to accumulate benefits that they can eventually retire on

Prior to Social Security, the poor worked until they died or lived off of family
SS allowed them to retire

Actually it prevents people from accumulating real wealth.