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Re: Share your concerns about Social Security

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Message 21 of 320
Why are all these comments ANTI democratic party??? Sounds like something going on that has a bad smell.....
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Re: Share your concerns about Social Security

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Message 22 of 320

After Trump " takes " Iraq's Oil , maybe he will put the profits into our S.S. War Chest !!!

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Re: Share your concerns about Social Security

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Message 23 of 320

@ls7857134 wrote:
Social Security has been robbed by governments and replaced by IOUs. I believe the government owes 1 trillion. Why are we in a bind.

All Social Security funds NOT used to pay current benefits are placed in special treasuries and are paid interest by the government (us) until they have to be used to pay benefits. 

 

That's one of the problems - paying benefits has taken over just about all of the current collections, so we aren't socking away enough to cover those who are retiring at the current baby boomer rate of 10,000 a day.

 

Social Security benefits have always been paid by those currently working.

But once we had about 16 people working for each person receiving Social Security benefits - now it is down to, I think, about three and is now on its way down to two, then maybe one.  Automation is taking its tole here.

 

 

* * * * * * It’s Always Something - Roseanne Rosannadanna
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Re: Share your concerns about Social Security

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Message 24 of 320
Social Security has been robbed by governments and replaced by IOUs. I believe the government owes 1 trillion. Why are we in a bind.
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Re: Share your concerns about Social Security

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Message 25 of 320

You inherently argue for privatization so we could all invest our money in the S&P 500 or however we want.  I couldn't agree more and don't know why people are so adamant about the poor return they get under the current scenario. 

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Re: Share your concerns about Social Security

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Message 26 of 320

The proper way to figure if Social Security is a good deal or not is to take the money they put in, plus the money their employer put in, and now comes the hard part.  Look at the S&P500 and look at the average growth during those years.  Now it gets really complicated since you and your employer put money into the SS fund each month so you are really compounding the amounts along with the S&P500 growth.  Anyone doing the detail math will find out soon that they are getting shortchanged by the Government and in reality this is a transfer of wealth to others and NOT an entitlement program (like welfare).

 

If you neglect the growth of your money, then it looks like the Government is GIVING you a generous amount.

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Re: Share your concerns about Social Security

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Message 27 of 320

My concern is that people don't understand it, espouse lies and fallacies and think that someone has stolen their money. I hate to tell these folks that they live in a fantasy but the facts do matter:

1. no one has stolen their money

2. the average retiree gets payments that FAR EXCEED what they put in - so in fact, Social Security IS an entitlement program.  If you have been collecting social security more than 5 years, your payments are likely funded out of the checks of your children and grandchildren, NOT money you put in

3. The ONLY way to make Social Security better is to take MORE MONEY out of the checks of your children and grandchildren as you quickly exhaust the money you have contributed (usually within 5 years of receiving benefits).

 

Money does not come out of nowhere.  Someone pays it and it is the younger generations supporting the SS system.

 

This post will anger some people as they would rather hold on to their beliefs and fantasies rather than accept the facts.  Note that all of these facts can be verified by reading the Social Security Annual Trustee Report. Additionally, I show you my Social Security Benefit Statement and explain what it really means.

 

I realized in my 30s that Social Security, as constructed, would not be available when I reached full retirement age. Those who are now collecting should be VERY grateful for the entitlement and never ever complain.  This is the 6th year that Social Security will be cash negative (pays out more than it takes in).

 

Please, if you do not know the facts, please do not reply with opinions or misperceptions. I have been a CPA for 40 years and have an MBA from a top school so I am very good at math, interpreting the facts and staying clear of opinions not supported by facts.

 

I am not stating that recipients should not get more or that the Social WSecuity is good or bad.  I am making no judgements but merely explaining what is true.

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Re: Share your concerns about Social Security

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Message 28 of 320

I don't think there is any recourse... as a retired educator I am in the same boat.  Only get 25% of what was put in.  Thank that one to Ronald Reagan...didn't think we should "double dip".  The only recourse is to write to your senator and congress people and advocate to eliminate that blockage...  a lot of people find this out way after the fact, very unfair as many other government employees get both their full retirement benefits.  Smiley Sad  Discrimination in my book.

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Re: Share your concerns about Social Security

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Message 29 of 320

I have a question.  I have a Civil Service Retirement (CSRS) and I worked a part-time job during my working years to support my son after my divorce.  I am currently 69 years old.  I am remarried.  I collect my CSRS retirement now and 4 years ago wanted to start collecting social security.  I was told I could only collect an offset portion because of my CSRS retirment.  Originally it was supposed to be $1300 but now I only get $310.  This was not what I was counting on since the last three years of employment I made $52,000 and paid into SSA.  Is there any recourse?

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Re: Share your concerns about Social Security

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Message 30 of 320

LBJ used the SS monies for other purposes and it will never be paid back. The same as the highway

transportation monies and now our representives cry that the bridges and highways need repair.

Our congress and senate start with the right intentions, then join the old boys club and take of themselves and not the people that elected them. Whoops I thought the Clinton's were broke.

 

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