Zone1 Social Security Scam

[Woodznutz]

SS is a wealth thief that keeps poor people from passing down wealth accumulated over a lifetime.

Not necessarily. I don't need my SS benefit and invest it. My kids will get all of it.

200 dollars a month invested at 7% over 50 years gives the investor over a million dollars.

Possibly.

200 dollars a month is what someone making 20k a year pays per month to SS. (worker and employer). 7% is a very conservative investment return.

Actually that is only $100 without an employer's contribution, which wouldn't exist outside of SS.

So someone living well below the poverty line is a millionaire when they retire if they never make a dime over 9.60 an hour, working 40 hours a week if they money the SSA takes from them is allowed to be invested by the individual instead of spent by Congress.

It is doubtful if such a person could save anything for retirement. And if they did it would likely be spent during bad times, which would certainly occur.

That person would have to live for another 86 years if they took all the money they invested stuck it in their mattress and doled it out to themselves at the rate SS does

The longer one lives the better the SS deal is. And upon one's death the surviving spouse still gets payments. In the case that both receive SS the survivor ca receive the greater amount between the two.

 

[g5000]

When Franklin D. Roosevelt, a Democrat, introduced Social Security, he promised that participation in the program would be completely voluntary.

Who is filling your head with these lies? Social Security was never voluntary.

Second, he promised that participants would only have to pay 1% of their first $1,400 of their annual incomes into the program. Today, you're paying 6.2% into the program, or 12.4% if you're self employed on first $147K.

FDR taxed income up to $3,000, and he gradually raised the payroll tax to 3 percent.

Third, he promised that the money the participants elected to put into a program would be deductible from their income tax purposes each year. As you all know, that tax is no longer tax deductible.

Payroll taxes have never been deductible. Employer payroll taxes are, but not individual. They never have been.

Fourth, he promised that the money the participants put into the independent "trust fund" rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement program, and no any other government program. Well, under LBJ, that money was moved to the government's "general fund" and spent.
Fifth, FDR promised that annuity payments to the retirees would never be taxed as income. Under Clinton and Gore, up to 85% of your social security can be taxed.

Since many of us have paid into Social Security for years, and are receiving Social Security check each month, only to find out that they have been taxed on 85% of the money we paid to the Federal government to "put away, you maybe interested in following questions:

Q. Which political party took Social Security from the independent "trust fund" and put it into the general fun so that Congress could spend it?
A. It was Lyndon Johnson and the House and Senate controlled by Democrats.

Q. Which political party eliminated the income tax deduction for Social Security withholding?
A. The Democratic party.

Q. Which political party started taxing Social Security annuities?
A. The Democratic party, with Al Gore casting the tie-breaking vote as President of the Senate, while he was VP of the US.

Q. Which political party decided to start giving annuity payments to immigrants?
A. It was Jimmy Carter and the Democratic party gave immigrants that moved into the US Social Security payments at age 65, even though they never paid a dime into it.

As you can see above, it's not Republicans that are destroying the Social Security as we know it. the Democrats are doing it since it's inception, while blaming everyone else for their failures.

Your entire post is one giant copy and paste job and is entirely false.

Your are a plagiarist. Did you think you would not be caught?

Stop parroting your propagandists. You look like an idiot.

FDR's "Voluntary" Social Security - FactCheck.org

Q: Did FDR promise that Social Security would be voluntary? Did Democrats end tax deductions for Social Security withholding? A: Social Security has never been voluntary and taxes paid to support it have never been deductible from federal income taxes. A widely e-mailed "history lesson" gets...

www.factcheck.org

 

[rightwinger]

SS is a wealth thief that keeps poor people from passing down wealth accumulated over a lifetime.

200 dollars a month invested at 7% over 50 years gives the investor over a million dollars.

200 dollars a month is what someone making 20k a year pays per month to SS. (worker and employer). 7% is a very conservative investment return.

So someone living well below the poverty line is a millionaire when they retire if they never make a dime over 9.60 an hour, working 40 hours a week if they money the SSA takes from them is allowed to be invested by the individual instead of spent by Congress.

That person would have to live for another 86 years if they took all the money they invested stuck it in their mattress and doled it out to themselves at the rate SS does.

That person would make more on the interest of their investment (4X more) than they would from SS.

Even at 3% interest you are better off.

Prior to Social Security, people worked until they died or depended on children to take care of them

Social Security is when people started looking at Retirement

 

[AZrailwhale]

Social Security works

It is an important safety net for tens of millions of Americans

SS is a rip-off, my friends and I worked out way back in 1974 that we would be far better off if the government would allow us to privately invest the money in secure, low interest investments. I would have had several million dollars in a retirement account, been able to live off the interest and pass the principal on as a legacy.

 

[rightwinger]

SS is a rip-off, my friends and I worked out way back in 1974 that we would be far better off if the government would allow us to privately invest the money in secure, low interest investments. I would have had several million dollars in a retirement account, been able to live off the interest and pass the principal on as a legacy.

You can still invest in private tax free retirement accounts
It is called a balanced retirement strategy

 

[Woodznutz]

SS is a rip-off, my friends and I worked out way back in 1974 that we would be far better off if the government would allow us to privately invest the money in secure, low interest investments. I would have had several million dollars in a retirement account, been able to live off the interest and pass the principal on as a legacy.

During hard times people dip into their savings, often completely depleting them. This is happening as we speak to many. SS is 'insurance' against such hard times regarding retirement savings. Being 'forced' to save has been the salvation for millions.

If SS is done away people would soon be in the same financial pickle they were when the program was started.

 

[rightwinger]

During hard times people dip into their savings, often completely depleting them. This is happening as we speak to many. SS is 'insurance' against such hard times regarding retirement savings. Being 'forced' to save has been the salvation for millions.

If SS is done away people would soon be in the same financial pickle they were when the program was started.

We have just seen what happens to your retirement savings when the Stock Market crashes.
What will happen when people put their retirement savings into BitCoin?

Social Security and Medicare are safety nets

 

[dblack]

What will happen when people put their retirement savings into BitCoin?

They might have a well-heeled retirement. How is it any of your business?

 

[rightwinger]

They might have a well-heeled retirement. How is it any of your business?

Because this is an Internet Message Board

 

[dblack]

Because this is an Internet Message Board

Don't be a troll. You know what I'm talking about. Why should government dictate how people manage their retirement?

 

[rightwinger]

Don't be a troll. You know what I'm talking about. Why should government dictate how people manage their retirement?

Because it is in the interest of We the People
Without Government intervention, people would still be dying on the job.

Government programs like Social Security, Medicare, 401ks/Roth allow people to retire comfortably.
Without those programs…people saved nothing for retirement

 

[dblack]

Because it is in the interest of We the People

Yeah, "we the people". That phrase doesn't mean what you think. "We the people" doesn't mean the government. It actually means the opposite. It places the people above the government - explicitly states that government is there to serve the people, not to boss them around, forcing them to follow your preferences.

But you like to cite the phrase as a rallying call for majoritarian bullying - kinda like "eat it fucker, we got the votes - do as you're told."

And that's why you suck. It's why people are fed up with Democrats. It's why miscreants like Trump and DeSantis find traction with their deplorable ambitions.

 

[rightwinger]

Yeah, "we the people". That phrase doesn't mean what you think. "We the people" doesn't mean the government.

Actually it means a Government of the people, by the people and for the people.

We are the Government

 

[C_Clayton_Jones]

Actually it means a Government of the people, by the people and for the people.

We are the Government

Correct.

The people and the government are one-in-the-same; the notion that the people and ‘the government’ are two separate entities is as ridiculous as it is wrong.

 

[dblack]

Actually it means a Government of the people, by the people and for the people.

Nope. That's what you want. You want a government that simply a bully on behalf of the majority. That sucks.

We are the Government

No, you are not.

 

[dblack]

Correct.

The people and the government are one-in-the-same; the notion that the people and ‘the government’ are two separate entities is as ridiculous as it is wrong.

Absolute bullshit. Government is the servant of the people. A subset, obligated to the follow the Constitution. Government and society are not the same thing. I think this may be the primary folly of modern liberalism.

 

[rightwinger]

Nope. That's what you want. You want a government that simply a bully on behalf of the majority. That sucks.

No, you are not.

We the People are the bully over Government

We just showed that on Tuesday

 

[Blues Man]

It's the things that aren't planned for that screw up the things that are.

There is a contingency for just about everything.

And if people had control over the money the government takes from them we'd have people retiring as millionaires instead of getting a paltry 25K a year to live on

 

[dblack]

We the People are the bully over Government

We just showed that on Tuesday

Horeshit. You want government to bully others on your behalf. That's the entire zeitgeist of modern liberals. You see it as the purpose of government.

 

[Couchpotato]

Not necessarily. I don't need my SS benefit and invest it. My kids will get all of it.

They will get all of a small part of whatever the government took from you.

A person who makes 20k a year would have to live to 77 to break even if they took the 200 a month and buried it in their yard for 50 years.

Possibly.

Actually that is only $100 without an employer's contribution, which wouldn't exist outside of SS.

Employers could afford to pay people more money if they werent paying SS. You're employer's contribution to SS is part of the compensation you get whether you realize it or not.

It is doubtful if such a person could save anything for retirement.

It's doubtful because we've taken that responsibility away from them.

The longer one lives the better the SS deal is.

It's never a "good deal" I showed that in my first post. The interest alone on your investment is worth more than the SS payment.