Share your concerns about Social Security

[AARPMiller]

1)     In the article,  Social Security Fears, many Social Security myths are addressed. What concerns you the most about Social Security? 

[louisie]

In Response to Share your fears about Social Security:

1)       In the article,    Social Security Fears , many  Social Security myths  are addressed.  What concerns you the most about Social Security? 
Posted by AARPMiller

What concerns me the most is the new terminology, "Entitlement" . it is not an entitlement in the sense of welfare, or free cell phones , or section 8, but, instead it is worked for, from your money, and your employer's money. There is no government money at all!! So , the only entitlement involved, is perhaps, after you have earned it, your employer spent it, and you gave it to the government to hold for you, you should be entitled to get it back, with interest!!!!

KEEP PASSING THIS AROUND UNTIL EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT... THIS IS SURE SOMETHING TO THINK ABOUT!!!! 

THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE SOCIAL SECURITY IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED A SOCIAL SECURITY CHECK!!!

WHERE DID THAT MONEY GO? 

Remember, not only did you and I contribute to Social Security but your employer did, too. It totaled 15% of your income before taxes. If you averaged only $30K over your working life, that 's close to $220,500. Read that again. Did you see where the Government paid in one single penny? We are talking about the money you and your employer put in a Government bank to insure you and I that we would have a retirement check from the money we put in, not the Government. Now they are calling the money we put in an entitlement when we reach the age to take it back. If you calculate the future invested value of $4,500 per year (yours & your employer 's contribution) at a simple 5% interest (less than what the govt . pays on the money that it borrows), after 49 years of working you'd have $892,919.98.

If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that 's with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month. 

Another thing with me.... I have two deceased husbands who died in their 50 's , (one was 51 and the other one was 59 before one percent of their social security could be drawn. I worked all my life and am drawing 100% on my own social security). Their S.S. money will never have one cent drawn from what they paid into S.S. all their lives. 

THE FOLKS IN WASHINGTON HAVE PULLED OFF A BIGGER PONZI SCHEME THAN BERNIE MADOFF EVER DID.

Entitlement my foot, I paid cash for my social security insurance! Just because they borrowed the money for other government spending, doesn't make my benefits some kind of charity or handout !! 

Remember Congressional benefits? --- free healthcare , outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days. Now that 's welfare, and they have the nerve to call my social security retirement payments entitlements ? 

We're "broke" and we can't help our own Seniors, Veterans, Orphans, or Homeless. Yet in the last few months we have provided aid to Haiti , Chile and Turkey . And now Pakistan ......home of bin Laden. Literally, BILLIONS of DOLLARS!!!  And they can't help our own citizens in New York and New Jersey !  They sure rushed to help Katrina victims in 10 days!!!!!  I guess minorities have more clout!

Our retired seniors living on a 'fixed S.S. income' receive no additional federal aid nor do they get any financial breaks, while our government and religious organizations pour hundreds of billions of $$$ and tons of food to foreign countries!

They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives, and now, when it 's time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? It was supposed to be in a locked box, not part of the general fund. 

Sad isn't it? 

[AARPBetty]

Direct Deposit for Social Security!

To apply for direct deposit for social security, you can go to your bank, or you can call Social Security Administration.
                                 If you receive benefits, the deadline to switch to direct deposit is:                                           March 1, 2013 

f you already receive Social Security or SSI benefits and you have a bank account,
        you can sign up for Direct Deposit by:

• obtaining a password and starting or changing Direct Deposit online (Social Security benefits only), or
• contacting your bank, credit union or savings and loan association, or
• calling Social Security toll-free at 1-800-772-1213 (TTY 1-800-325-0778), or
• filling out a Direct Deposit Sign Up Form and taking or mailing it to your Social Security Office. The form is available here in PDF format for downloading and completion. To read and print the form, you must have Adobe Acrobat Reader software installed on your computer.

                                       http://www.socialsecurity.gov/deposit/howtosign.htm

                      Watch this video for more information:

                                        http://www.youtube.com/GoDirectUSTreasGov

[JANMB]

In Response to Re: Share your fears about Social Security:

  Jan, The Plutocrats in Congress dont want to talk about the almost 4 TRILLION  in lost tax revenue from the Bush Tax Cuts for the wealthy,nor do they want to talk about the TRILLIONS of dollars the unnecessary Iraq War cost. We cant get a total cost for the Iraq War because we are still paying to repair the broken lives of our brave wounded soldiers, who have returned mentally and physically disabled. We are still rebuilding Iraq's infrastructure, but the Halliburtons of America are doing just fine, thank you. Those no bid contracts did wonders for our deficit too.     I get a kick out of people who blame President Obama for our deficit, as If President Bush paid all the debt he created when he left office. No to the contrary, the cash register is still ringing  loudly from President Bush's " Mission Accomplishments ". : According to the US TREASURY ---Over 10 years, the total revenue loss from the tax cuts to the weathiest .... comes to $3.9 trillion.      Social Security does not contribute to the deficit.      So---Washington doesn't want to increase taxes but willing to make " cuts"  (no matter what they may call it ) to   Soc Security for the ones who need it or will need it the most.         Should they vote to cut Soc Security and not raise taxes on the richest and I WILL support a primary challenge to kick all of these thugs   out of office  and have called or e-mailed all the republicans--and democrats saying the same thing.     Posted by JANMB

Posted by mandm84

A few families being fabulously wealthy contributing less in taxes is not democracy.....and the vast majority of the workers who don't get a good enough share of profits they made in this bountiful country is not democracy.

The most ridiculous accusation I hear is that the "left wants to steal money from the rich" It's not stealing ....these are called taxes. Unless everyone is willing to take time out of their busy schedule to police the streets, repair the roads, teach your children math, and maintain the justice system, the military ... they better keep paying them.

The young folks were born in a country where the older folks had already built--bridges, roads, tall buildings, everything good we have today and some retired today were paid a dollar an hour in the 60's.
If the young folks think people are lazy and are stealing from them uh-huh.......I would like to see these young-folks just start from scratch on their own....go back to the early 1900's that well prepared them for their adult lives. Or today, do without all those services and products that they get SO CHEAP that puts more money in their pockets when half the country isn't paid enough for the work they do.

Then when the same ones need social benefits....they are called moochers ....and even by some in congress who have been on the dole of the taxpayers for years.

[mandm84]

Our Republican friends in Congress just again stated they will not raise the Debt Ceiling without cuts to our Social Security and Medicare. Wonderful, take it out on us after waging Two Wars with Tax Cuts for the Wealthy. The 1st time in our history we waged War and cut Taxes at the same time. What did you expect was going to happen Republicans ? So now blame our deficit on our seniors and disabled, Nice !!!

[jb65548036]

It should be absolutely clear to EVERYONE that all Republicans want to cut Social Security and Medicare benefits to the bone, so why would ANY person drawing S.S. vote for any of them????? Are the American voters really that stupid??????????  It appears so!!

[mandm84]

 We received a 1.7% Cost of Living Adjustment and the Republicans in Congress want to reduce that and cut our Medicare benefits. I dont see any communicating on this site recently about it, so I'm assuming we are all busy contacting our representatives. Nobody else is going to do it for us, so contact them and demand no cuts to our benefits, unless of course you found your " Pot of Gold ".This will most likely be decided on in the next 6-8 weeks,  according to  the sources I've heard

[bobb531]

We agree, everything went up the two or three years SS did not get a raise, but we had to pay for all the increases in food, gas, clothing, health care.  I think SS needs an increase each year and according to how much things cost for living..

[bobb531]

In Response to Re: Share your fears about Social Security:

I am new to receiving Social Security.  Last week I went to the grocery store and bought staples, many of which were not previously prepared foods.  When I arrived home, I went to my files and checked the same 19 items that I purchased this time last year and found that I had paid 30% more this year than last for the same items.  Gasoline has increased almost double (average) in the last 12 months.  Most federal employees, including US Congressmen, have received cost of living increases.  Some in the amount of 16% increase in one year, as per the US News reported on television.  I have been told that the Social Security recipients have NOT received even a cost of living increase for at least three years (as per local recipients).  Is there a chance that this inequity of passing out increases will be addressed?  And When? Jack V. Smith
Posted by Powderhorn63

[mandm84]

   Our Republican leadership in Congress has it all figured out, they know that its much easier to pick on our already struggling seniors, disabled and Veteran's with cuts to our Social Security and Medicare benefits.
   Afterall, we are looked upon as just a burden to them, unless of course we are wealthy seniors. Wealthy seniors are apparently the only ones who deserve to survive with dignity.

[mandm84]

 Get ready our beloved seniors, because here come the Republicans with their axes ready to cut your Social Security and Medicare benefits you earned and  worked your whole life for !!!

[mandm84]

  Jan, The Plutocrats in Congress dont want to talk about the almost 4 TRILLION  in lost tax revenue from the Bush Tax Cuts for the wealthy,nor do they want to talk about the TRILLIONS of dollars the unnecessary Iraq War cost. We cant get a total cost for the Iraq War because we are still paying to repair the broken lives of our brave wounded soldiers, who have returned mentally and physically disabled. We are still rebuilding Iraq's infrastructure, but the Halliburtons of America are doing just fine, thank you. Those no bid contracts did wonders for our deficit too. 
   I get a kick out of people who blame President Obama for our deficit, as If President Bush paid all the debt he created when he left office. No to the contrary, the cash register is still ringing  loudly from President Bush's " Mission Accomplishments ". : According to the US TREASURY ---Over 10 years, the total revenue loss from the tax cuts to the weathiest .... comes to $3.9 trillion.      Social Security does not contribute to the deficit.      So---Washington doesn't want to increase taxes but willing to make " cuts"  (no matter what they may call it ) to   Soc Security for the ones who need it or will need it the most.         Should they vote to cut Soc Security and not raise taxes on the richest and I WILL support a primary challenge to kick all of these thugs   out of office  and have called or e-mailed all the republicans--and democrats saying the same thing.    
Posted by JANMB

[GailL1]

In Response to Re: Share your fears about Social Security:

IPn Response to Re: Share your fears about Social Security : According to the US TREASURY ---Over 10 years, the total revenue loss from the tax cuts to the weathiest .... comes to $3.9 trillion.      Social Security does not contribute to the deficit.      So---Washington doesn't want to increase taxes but willing to make " cuts"  (no matter what they may call it ) to   Soc Security for the ones who need it or will need it the most.         Should they vote to cut Soc Security and not raise taxes on the richest and I WILL support a primary challenge to kick all of these thugs   out of office  and have called or e-mailed all the republicans--and democrats saying the same thing.    
Posted by JANMB

I don't know about the figures but just imagine what we have lost with ALL the tax cuts & tax code giveaways in those last 10+ years.  Including the tax code giveaway to employers and employees on their health care benefits which they are given in lieu of wages with no income tax or FICA tax paid or matched.

[JANMB]

IPn Response to Re: Share your fears about Social Security:

  You have to stand up and be heard by contacting your elected representatives.Tell them to preserve S.S. and Medicare and that you wont stand for any cuts in your COLA. I have sent countless letters to my representatives. My Democrat representatives have promiised to preserve both, but my Republican representative has said we need to reduce the COLA and that we cant afford to maintain our current S.S. and Medicare entitlements.Response to Re: Share your fears about Social Security :
Posted by mandm84

According to the US TREASURY ---Over 10 years, the total revenue loss from the tax cuts to the weathiest .... comes to $3.9 trillion.     

Social Security does not contribute to the deficit.  
  
So---Washington doesn't want to increase taxes but willing to make " cuts"  (no matter what they may call it ) to   Soc Security for the ones who need it or will need it the most.        

Should they vote to cut Soc Security and not raise taxes on the richest and I WILL support a primary challenge to kick all of these thugs   out of office  and have called or e-mailed all the republicans--and democrats saying the same thing.    

[GailL1]

In Response to Re: Share your fears about Social Security:

  Good thought commonerssense. I would waive mine and if just 25% of us did, How many Billions are we looking at. It's a start. Response to Re: Share your fears about Social Security :
Posted by mandm84

They only pay it out once per SS number so for all those widows/widowers who are drawing the benefits of their deceased spouse because it is a higher amount than their, then this death benefit savings is a mute point.

[mandm84]

  Good thought commonerssense. I would waive mine and if just 25% of us did, How many Billions are we looking at. It's a start. Response to Re: Share your fears about Social Security:

Just a  thought. Has any one considered how much ssa could save if the $250 death benefit could be limited to those who truly need it?
Posted by commonerssense

[commonerssense]

Just a  thought. Has any one considered how much ssa could save if the $250 death benefit could be limited to those who truly need it?

[krlklar]

In Response to Re: Share your fears about Social Security:

In Response to Re: Share your fears about Social Security :

The government is now referring to our Social Security checks as a “Federal Benefit Payment.” This isn’t a benefit – its earned income! Not only did we all contribute to Social Security but our employers did too.   It totaled 15% of our income before taxes. If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security.   If you calculate the future value of your monthly investment in socialsecurity ($375/month, including both your and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved! This is your personal investment .   Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month .   That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the Social Security Administration (Google it - it’s a fact).   And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.   Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They “forgot” that it was OUR money they were taking. They didn’t have a referendum to ask us if we wanted to lend the money to them.   And they didn’t pay interest on the debt they assumed. And recently, they’ve told us that the money won’t support us for very much longer. But is it our fault they misused our investments?   And now, to add insult to injury, they’re calling it a “benefit,” as if we never worked to earn every penny of it. Just because they “borrowed” the money, doesn't mean that our investments were a charity! Let’s take a stand.   We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government! Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it.   Then call it what it is: Our Earned Retirement Income. Posted by bdholmes

Besides our contributions and our employer's contributions as a part of our wage-package....people forget it isn't really a savings account. and not meant to be fairly distributed where some people die before they even collect and some collect more when they live a  long time.   Overall, it has been the most successful program EVER.       Nearly one in three beneficiaries of SOCIAL SECURITY are not retirees; such people receive disability benefits, 1% are aged, 56% disabled, and 31% disabled children often disabled for life, according to the Social Security Administration.  IF the SS fund invested in the stock market this past decade...all these people would be in the creek without a paddle.  Then what if you lose your job... or your business isn't doing well..... or have a catastrophic illness or weather related event.....uhhuh-- well people did and had to use up their 401K.'s.....how well are they  going to be able to recover and save $$  remains to be seen and isn't it great at least they could count on SS  if republicans don't get their fingers on it. ?  .          If they  reduce the outflow of Social Security, that money would not go into the general fund to reduce the deficit and that's a fACT.  .    IF they reduce the outflow of SS----more people will be on welfare/food stamps and how does that help ?  The fund is okay for the next decades and no one can predict what our economy will be like at that time.   The pessimist of our society would certainly destroy lives of people right now by using fake stats to scare people.                  
Posted by JANMB

SS  has two parts. One is the OA benefit annuity and the other is really welfare like SSDI ,children's benefits etc. that are needed. If the SS budget only included the first part no changes would be needede because FICA wopuld cover the cost. The second part is needed, but should really be paid for from ALL revenue sources not just workers and businesses as FICA.  Increasing FICA taxes makes our production less competitive with places that don't tax businesses the way we do and loses jobs here.
Karl.  

[GailL1]

In Response to Re: Share your fears about Social Security:

  Republican Speaker Boehner recently stated he would accept a tax rate hike for those making over $1 Million dollars per year, BUT he is asking for $1 Trillion dollars in cuts to our Medicare/ Medicaid and cutting our yearly Social Security cost of living increases. How much more will you have  to pay for healthcare, with $1 trillion less in coverage and can you survive without a cost of living increase ???    I knew the Republicans   in Congress would ask our struggling seniors, disabled and Veterans to struggle even more with less, while protecting the wealthy first and foremost. Contact your representatives and tell them NO to cuts in our healthcare and NO to cuts in our Social Security cost of living adjustment ( COLA )..Response to Re: Share your fears about Social Security :
Posted by mandm84

I believe that you have it confused - President Obama's plan offers up the chained CPI method of computing COLA.
The method used to calculate it is designed by the BLS and it affects a whole lot more than just COLA for SS, disabled Veterans.

HuffPost Politics 12/18/2012:  Nancy Pelosi Predicts 'Democrats Will Stick With The President' On Fi...

WASHINGTON -- House Minority Leader Nancy Pelosi (D-Calif.) is convinced her fellow Democrats will get behind the White House's latest "fiscal cliff" deal that cuts Social Security benefits and increases taxes on the middle class. . . .

President Barack Obama's latest offer in the fiscal cliff negotiations would allow the payroll tax holiday to expire, meaning middle-class workers will see smaller paychecks in 2013. It also proposes a Social Security reform known as "chained CPI" that would reduce the benefits senior citizens receive through Social Security.

Additionally, Obama's latest offer would permanently extend the Bush tax cuts for incomes of less than $400,000. Previously, the president had insisted that taxes increase on families with income above $250,000.

[mandm84]

  Republican Speaker Boehner recently stated he would accept a tax rate hike for those making over $1 Million dollars per year, BUT he is asking for $1 Trillion dollars in cuts to our Medicare/ Medicaid and cutting our yearly Social Security cost of living increases. How much more will you have  to pay for healthcare, with $1 trillion less in coverage and can you survive without a cost of living increase ???
   I knew the Republicans   in Congress would ask our struggling seniors, disabled and Veterans to struggle even more with less, while protecting the wealthy first and foremost. Contact your representatives and tell them NO to cuts in our healthcare and NO to cuts in our Social Security cost of living adjustment ( COLA )..Response to Re: Share your fears about Social Security:

  Now Gail, I consider myself a compassionate human being and believe that its not right to ask for more from those who are already struggling to survive. The Social Security system has worked well for years until a Plutocratic ideology took form during the Bush Administration and all of a sudden our seniors, disabled and Veterans are too costly and we cant afford Social Security anymore.  Corporate America doesn't like your " Numbers Issue " either, of having to preserve Social Security, it cuts into their " Greed and Profits". The Plutocrat Republicans in Congress would love to turn Social Security over to the Wall Street Pirates.      Response to Re: Share your fears about Social Security :
Posted by mandm84

[mandm84]

  Now Gail, I consider myself a compassionate human being and believe that its not right to ask for more from those who are already struggling to survive. The Social Security system has worked well for years until a Plutocratic ideology took form during the Bush Administration and all of a sudden our seniors, disabled and Veterans are too costly and we cant afford Social Security anymore.
 Corporate America doesn't like your " Numbers Issue " either, of having to preserve Social Security, it cuts into their " Greed and Profits". The Plutocrat Republicans in Congress would love to turn Social Security over to the Wall Street Pirates.  
   Response to Re: Share your fears about Social Security:

In Response to Re: Share your fears about Social Security : Now, mandm84, you know that this person (that you are replying to) should understand that SS benefits are weighted towards those who put in the least. For the poster figures to be anywhere near correct, he should understand that he or she does NOT get a direct credit for what they (and their employers) put into the system. When we use to get that SS statement in the mail from them every year - I wondered how many people noticed that it was only their portion of the paid tax shown - the employers portion was never included. This is NOT a Democrat or Republican issue, it is pure and simple, a numbers issue - where 2 + 2 doesn't = 4 but more like 10. If we need to pay more into the system, why don't you want the emplyee health care benefits taxed like the "in lieu" of wages that they really are - we'd get more income tax revenues on these "in lieu" of wages benefits, more SS revenues and more Medicare revenues from employees and employers alike. We already have SSI and Medicaid for the poor - I don't think you want to turn SS and Medicare into pure charity programs - by law, SS is an insurance program, not a retirement plan.  By law, Medicare is there for all who have been vested - however benefits can be manipulated & redefined for cost saving measures.
Posted by GailL1

[JANMB]

In Response to Re: Share your fears about Social Security:

The government is now referring to our Social Security checks as a “Federal Benefit Payment.” This isn’t a benefit – its earned income! Not only did we all contribute to Social Security but our employers did too.   It totaled 15% of our income before taxes. If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security.   If you calculate the future value of your monthly investment in socialsecurity ($375/month, including both your and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved! This is your personal investment .   Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month .   That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the Social Security Administration (Google it - it’s a fact).   And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.   Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They “forgot” that it was OUR money they were taking. They didn’t have a referendum to ask us if we wanted to lend the money to them.   And they didn’t pay interest on the debt they assumed. And recently, they’ve told us that the money won’t support us for very much longer. But is it our fault they misused our investments?   And now, to add insult to injury, they’re calling it a “benefit,” as if we never worked to earn every penny of it. Just because they “borrowed” the money, doesn't mean that our investments were a charity! Let’s take a stand.   We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government! Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it.   Then call it what it is: Our Earned Retirement Income.
Posted by bdholmes

Besides our contributions and our employer's contributions as a part of our wage-package....people forget it isn't really a savings account. and not meant to be fairly distributed where some people die before they even collect and some collect more when they live a  long time.   Overall, it has been the most successful program EVER.      

Nearly one in three beneficiaries of SOCIAL SECURITY are not retirees; such people receive disability benefits, 1% are aged, 56% disabled, and 31% disabled children often disabled for life, according to the Social Security Administration. 

IF the SS fund invested in the stock market this past decade...all these people would be in the creek without a paddle.  Then what if you lose your job... or your business isn't doing well..... or have a catastrophic illness or weather related event.....uhhuh-- well people did and had to use up their 401K.'s.....how well are they  going to be able to recover and save $$  remains to be seen and isn't it great at least they could count on SS  if republicans don't get their fingers on it. ?  .         

If they  reduce the outflow of Social Security, that money would not go into the general fund to reduce the deficit and that's a fACT.  .    IF they reduce the outflow of SS----more people will be on welfare/food stamps and how does that help ? 

The fund is okay for the next decades and no one can predict what our economy will be like at that time.   The pessimist of our society would certainly destroy lives of people right now by using fake stats to scare people.    

 

           

[JANMB]

In Response to Re: Share your fears about Social Security:

  You have to stand up and be heard by contacting your elected representatives.Tell them to preserve S.S. and Medicare and that you wont stand for any cuts in your COLA. I have sent countless letters to my representatives. My Democrat representatives have promiised to preserve both, but my Republican representative has said we need to reduce the COLA and that we cant afford to maintain our current S.S. and Medicare etitlements.Response to Re: Share your fears about Social Security :
Posted by mandm84

[GailL1]

In Response to Re: Share your fears about Social Security:

  You have to stand up and be heard by contacting your elected representatives.Tell them to preserve S.S. and Medicare and that you wont stand for any cuts in your COLA. I have sent countless letters to my representatives. My Democrat representatives have promiised to preserve both, but my Republican representative has said we need to reduce the COLA and that we cant afford to maintain our current S.S. and Medicare etitlements.Response to Re: Share your fears about Social Security :
Posted by mandm84

Now, mandm84, you know that this person (that you are replying to) should understand that SS benefits are weighted towards those who put in the least.

For the poster figures to be anywhere near correct, he should understand that he or she does NOT get a direct credit for what they (and their employers) put into the system.

When we use to get that SS statement in the mail from them every year - I wondered how many people noticed that it was only their portion of the paid tax shown - the employers portion was never included.

This is NOT a Democrat or Republican issue, it is pure and simple, a numbers issue - where 2 + 2 doesn't = 4 but more like 10.

If we need to pay more into the system, why don't you want the emplyee health care benefits taxed like the "in lieu" of wages that they really are - we'd get more income tax revenues on these "in lieu" of wages benefits, more SS revenues and more Medicare revenues from employees and employers alike.

We already have SSI and Medicaid for the poor - I don't think you want to turn SS and Medicare into pure charity programs - by law, SS is an insurance program, not a retirement plan.  By law, Medicare is there for all who have been vested - however benefits can be manipulated & redefined for cost saving measures.

[mandm84]

  You have to stand up and be heard by contacting your elected representatives.Tell them to preserve S.S. and Medicare and that you wont stand for any cuts in your COLA. I have sent countless letters to my representatives. My Democrat representatives have promiised to preserve both, but my Republican representative has said we need to reduce the COLA and that we cant afford to maintain our current S.S. and Medicare entitlements.Response to Re: Share your fears about Social Security:

The government is now referring to our Social Security checks as a “Federal Benefit Payment.” This isn’t a benefit – its earned income! Not only did we all contribute to Social Security but our employers did too.   It totaled 15% of our income before taxes. If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security.   If you calculate the future value of your monthly investment in socialsecurity ($375/month, including both your and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved! This is your personal investment .   Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month .   That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the Social Security Administration (Google it - it’s a fact).   And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.   Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They “forgot” that it was OUR money they were taking. They didn’t have a referendum to ask us if we wanted to lend the money to them.   And they didn’t pay interest on the debt they assumed. And recently, they’ve told us that the money won’t support us for very much longer. But is it our fault they misused our investments?   And now, to add insult to injury, they’re calling it a “benefit,” as if we never worked to earn every penny of it. Just because they “borrowed” the money, doesn't mean that our investments were a charity! Let’s take a stand.   We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government! Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it.   Then call it what it is: Our Earned Retirement Income.
Posted by bdholmes

[bdholmes]

The government is now referring to our Social Security checks as a “Federal Benefit Payment.”

This isn’t a benefit – its earned income! Not only did we all contribute to Social Security but our employers did too.
 
It totaled 15% of our income before taxes. If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security.
 
If you calculate the future value of your monthly investment in socialsecurity ($375/month, including both your and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved! This is your personal investment .
 
Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month .
 
That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the Social Security Administration (Google it - it’s a fact).
 
And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.
 
Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They “forgot” that it was OUR money they were taking. They didn’t have a referendum to ask us if we wanted to lend the money to them.
 
And they didn’t pay interest on the debt they assumed. And recently, they’ve told us that the money won’t support us for very much longer. But is it our fault they misused our investments?
 
And now, to add insult to injury, they’re calling it a “benefit,” as if we never worked to earn every penny of it. Just because they “borrowed” the money, doesn't mean that our investments were a charity!

Let’s take a stand.
 
We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government!

Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it.
 
Then call it what it is: Our Earned Retirement Income.

[GailL1]

In Response to Re: Share your fears about Social Security:

  Jan, It looks like the Republican leadership in Congress isn't going to compromise to help those who are struggling. The Republicans insist that we can afford to keep giving the wealthy tax breaks and loop holes, but we just can't afford to keep the current Social Security and Medicare benefits for our seniors, disabled, Veterans and progarms for our poor children. When does the greed and selfishness end ??? Response to Re: Share your fears about Social Security :
Posted by mandm84

In order to bring in more revenues to Social Security and Medicare, I wonder why we don't pursue taxing those benefits that employees get in lieu of wages.  Like health insurance or other benefits that employers give without actually giving money as a salary - this is one of the greatest tax loopholes for businesses because they don't have to match the payroll tax contributions and the employees aren't paying income taxes nor their share of payroll taxes either.

[mandm84]

  Jan, It looks like the Republican leadership in Congress isn't going to compromise to help those who are struggling. The Republicans insist that we can afford to keep giving the wealthy tax breaks and loop holes, but we just can't afford to keep the current Social Security and Medicare benefits for our seniors, disabled, Veterans and progarms for our poor children. When does the greed and selfishness end ??? Response to Re: Share your fears about Social Security:

In Response to Re: Share your fears about Social Security : The amount of funds going to SS has not changed. The general fund is transferring the 2% into the system.   President Obama knew that when the private sector was blowing up only government could provide the relief.  The republicans need to STOP  using the deficit as a phony excuse to gut our Social Security!'  IT  is one of the phoniest excuses ever invented.    QUOTE FROM IKE EISENHOWER "  Should any political party attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history" The Republicans feel they just can not allow a government run program that succeeded to stand. It disproves their held position that government can do nothing well   . They will not be satisfied until they have killed these programs that have served the people so well.     We have seen them try to starve them to death or put incompetents in charge to prove their contention.     And they will never stop trying to erase this and other good government programs because they can not stand to be proven wrong.  
Posted by JANMB

[mandm84]

 The Republicans or should I say the Tea Party Plutocrats of today like more government when it supports their agenda allowing the rich to get richer with cuts in benefits on the struggling backs of our lower & middle class workers, seniors, disabled, poor children and Veterans. Thats when more government is needed, to help the rich remain just that, while the rest fall behind. The Tea Party sure has been a blessing.Response to Re: Share your fears about Social Security:

In Response to Re: Share your fears about Social Security : The amount of funds going to SS has not changed. The general fund is transferring the 2% into the system.   President Obama knew that when the private sector was blowing up only government could provide the relief.  The republicans need to STOP  using the deficit as a phony excuse to gut our Social Security!'  IT  is one of the phoniest excuses ever invented.    QUOTE FROM IKE EISENHOWER "  Should any political party attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history" The Republicans feel they just can not allow a government run program that succeeded to stand. It disproves their held position that government can do nothing well   . They will not be satisfied until they have killed these programs that have served the people so well.     We have seen them try to starve them to death or put incompetents in charge to prove their contention.     And they will never stop trying to erase this and other good government programs because they can not stand to be proven wrong.  
Posted by JANMB

[GailL1]

In Response to Re: Share your fears about Social Security:

I have a question.  I recieve Social Security Disability Benefits. When i am of retirement age, will I only recieve my retiement benefit or will I recieve both? 
Posted by wrkman25

You will receive your retirement benefit at your full retirement age - I assume that will be 66 years old.
The Disability payment will stop at that time.
You can get Medicare benefits after you have been on Disability for 24 months unless you turn 65 before that time period is up.

[wrkman25]

I have a question.  I recieve Social Security Disability Benefits. When i am of retirement age, will I only recieve my retiement benefit or will I recieve both?