The TRUTH about American Social Security

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by AVG-JOE, Aug 16, 2010.

  1. AVG-JOE
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    AVG-JOE American Mutt Staff Member Gold Supporting Member

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    Time to spill the beans as it were...

    I was answering a PM and said to myself, "Fuck it. I should post this..."

    Special thanks to DiveCon... Mahalo!

    (Link to the thread: http://www.usmessageboard.com/relig...ends-of-gays-and-lesbians-73.html#post2619532 )


    Dude, first things first... Thanks...

    "SSI" stands for Supplemental Security Income, a program covered under Title 16 of the Social Security Act, signed by Roosevelt in 1935. Title 16 was added in the 70's as a fairly effective way to standardize welfare, which hippies, liberals and draft-dodgers were gaming by living in one state and collecting in another.

    Modern SSI pays benefits to children and adults deemed "disabled" by a medical and administrative review board which is set up by and answers to each state. SSI also pays benefits to 'aged' individuals. That means folks who have had the good fortune to blow 65 candles out on a birthday cake with out cheating. Title 16 benefits, a.k.a. SSI, pays no more than $694 per month to any single individual. Take a moment and imagine living on $694 a month. Some states supplement that amount. SSI benefits depend on an individuals income, and also their parents income in cases involving disabled children. Title 16 payments are paid from the General Tax Revenue Fund a.k.a.: income taxes.

    Title 2 of The Act, signed into law a little closer to 1935, covers "Social Security" benefits which come in two flavors: 'Disability' and 'Retirement'. Title 2 benefits are paid from the Social Security Trust Fund. A fund funded by you, The American Worker Bee.

    When you get your pay-check at the end of the week "they" take out taxes... among those taxes are FICA taxes, everyone pays 12.5% of their first $106,000.00 earned every year. NOBODY pays FICA taxes on yearly income over $106,000.

    If, and only if, you have worked in the US legally and paid something into the system can you draw a dime in "Social Security" benefits. Benefits are paid to disabled worker bees and sometimes their families, and also to worker bees with at least 62 candles on their last cake. There is a minimum you have to put in but basically, the longer you work and the more you earn, the more you can draw in monthly benefits, should you join the silver haired winers circle at this game called Life In Modern America or have the bad luck to become "disabled" in the eyes of your state and you file a claim.

    For retirement, you need 10 years with legal, taxes paid earnings, verified by the IRS. (Yes, there is a limit, but it ain't much per year to qualify) You must also have at least 62 years in the rear view mirror of life. You do not need to be a citizen, just a legal, American worker-bee. Disability is a bit more complicated...

    There is incentive to wait 'till full retirement age, for my age, born in the late 50's, it's 66 and 10 months. The Program, ESPECIALLY when you include Title 16 Welfare, is the most complicated fucker I've ever had the pleasure of trying to wrap my head around, but that's the gist of it.

    If you haven't figured it out, this average Worker Bee is on your payroll, ass-u-me-ing that is you pay FICA taxes... and 99% percent of you do.
     
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  2. uscitizen
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    uscitizen Senior Member

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    UMM I draw around $2,900/month on SSI Disablility.

    Had I waited till 65 and just went on regular SSI I would have drawn $3,200/mo I believe according to the last statement I got.

    How much you draw is based on how much you paid in and your age when you start to draw.

    SSI is owed nearly 3 trillion by our govt that spent the surplus on other stuff. The biggest immediate SSI problem is how to pay SSI back and still keep other stuff going. It will have to be paid back from general funds.
     
  3. AVG-JOE
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    AVG-JOE American Mutt Staff Member Gold Supporting Member

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    You draw around $2,900 on Social Security disability under Title 2 of The SS Act if you're drawing disability. Lots of folks who are between 62 and 66 I talk to think they are drawing from the DIB fund (disability) when they're actually drawing from the RIB fund (retirement). Supplemental Security Income is welfare and would never pay $2,900 per month.

    DIB vs RIB is important but it's a moot point unless you're trying to qualify for DIB and you already qualify for RIB - the real point is that if you are drawing a Treasury Payment of that amount, you are drawing it off of your own work record and the FICA taxes you paid in you when you were working.

    The only other thing I can tell from that amount is that you did well in the game of Life in America, young Jedi. The woman who bet on you picked a good horse, at least with regards to earnings potential. Nicely done!

    SSI is Welfare, paid to people with no other means from The General Tax Fund. They did nothing to earn it, but it keeps them from begging in the streets which is bad for tourism.

    Social Security is different. It's your entitlement because you paid for it.
     
  4. uscitizen
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    uscitizen Senior Member

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    for many years I almost got to the maximum salary where they would withhold no more SSI payments. But they kept it just ahead of me.
    I think I got an SSI free check one year.

    And I filed under disability, although over 62 I would get more on disability than regular SSI.
    I also get medicaid when on disability if I want it. I have however prepaid my health insurance till I am 65. Although I doubt making it that long.
     
  5. AVG-JOE
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    AVG-JOE American Mutt Staff Member Gold Supporting Member

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    Please stop calling it SSI. If you earned it, it is SSD or SSR, not SSI.

    I hate to be a stickler for terms, but it's like calling this car a "Vett". It's just wrong.


    [​IMG]
     
  6. uscitizen
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    uscitizen Senior Member

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    The car is a shovette.
     
  7. Big Black Dog
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    Big Black Dog Gold Member Supporting Member

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    If this car isn't a Vette, somebody really put the screws to me...:eek:
     
  8. ABikerSailor
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    ABikerSailor Platinum Member

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    There is nothing wrong with Social Security. Currently, it has enough money to pay FULL benefits for the next 28 years.

    After that? The reduction will be to 78 percent, and will go on indefinitely.

    Today, Boehner stated that he wants to privatize Social Security and take away the Wall St. restrictions.

    Could you imagine what would happen if Social Security was privatized and another Wall St. meltdown happened?
     
  9. uscitizen
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    uscitizen Senior Member

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    And it will happen. How else will the money funnel up to a few.
    That is what these market adjustments are for.
     
  10. bromiley
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    bromiley Rookie

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    The America Speaks forums suffered from serious defects as measures of public opinion. Yet the results, perhaps to Peterson’s surprise, correctly indicated that Americans are strongly committed to Social Security. Large majorities oppose cutting Social Security benefits, even for the sake of deficit reduction.
     

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