Lets talk about SS "spending".

Discussion in 'Politics' started by uscitizen, Aug 16, 2011.

  1. uscitizen
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    uscitizen Senior Member

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    SS is mainly funded by dedicated FICA "contributions" from the employee and employer.
    the only general revenue fund expendatures is now for paying back the money "borrowed" from the 2+ trillion surplus in the "trust" fund.
    I do not think that the total money expended on the SS program should be shown in comparison to other spending such as the military where 100% of spending comes from general funds.

    To do this is very deceptive to me.
     
  2. JoeB131
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    JoeB131 Diamond Member

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    So it is.

    Social Security has been sold as a "retirement program", when it never was. It was just a way to create a separate tax on working folks to make up for the graduated income tax that never produces the revenues they claim it does.

    The reason this scam went undetected was back when it was imposed, retirement age was 65, and the average life expectancy was 62. So most people paid into it and never got anything out.

    Then we just broke the system by living longer. Average life expectency is now 78. Which means you can get 13 years living on the dole, on average. (usually, you've gotten back everything you've paid in by 72.)

    Yes, the dirty trick of converting the surplus into bonds that the government pays off is a part of the problem. (But then again, where else could have they put that money that wouldn't require some kind of payback? Stocks? Bonds? Check your 401 statement in October if you want to see how that would've worked out...
     
  3. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    If you invested about $750/month at 3% from age 18 to 62 you'd have about $821,000.

    Anyone here they'll ever see that much from SS??

    SS is a ripoff.
     
  4. uscitizen
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    uscitizen Senior Member

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    Many on SS disability have gotten FAR more than they paid in.

    And yes Joe I feel that the SS ages for eligability needs to be raised and perhaps thos who do not need SS should not get it. Ie if you make 100k a year you get no benefits.

    But I diverted from the main topic.

    Showing all SS ex[pendatures on the big govt spending pie chart is deceptive, but does make the military spending part look smaller percentage wise.
     
  5. Oddball
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    Oddball BANNED Supporting Member

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    Do that out in the real world and you're bunking with Bernie Madoff.
     

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