Who Stole Social Security

Discussion in 'Politics' started by JoeTheEconomist, Sep 22, 2015.

  1. JoeTheEconomist
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    JoeTheEconomist VIP Member

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    The most popular response to the question how did Social Security go off track is : someone (insert a variety of names) stole the money. Chris Christie - the only candidate willing to talk about Social Security - has invoked the crazy card in both of the GOP debates. They stole it without ever asserting who 'they' is.

    There is exactly zero evidence that any money has been misused. What people call 'worthless IOUs', investment professionals call cash equivalents. The Trust Fund today is what separates us from immediate 12% reduction in benefits.

    It is easier for people to believe that someone stole the money rather than the system is simply broken, spinning promises out of control.

    The longer article is now Independent Voter News,
    Despite What You've Heard, No One Is Stealing from Social Security - IVN.us
     
  2. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Social security has no assets, only IOU's that can only be redeemed by the federal government
     
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  3. JakeStarkey
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    JakeStarkey BANNED Supporting Member

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    And?
     
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  4. healthmyths
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    healthmyths Gold Member Supporting Member

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    From the Trustees' Report: Trustees Report Summary

    The Disability Income (DI) program satisfies neither the Trustees’ long-range test of close actuarial balance nor our short-range test of financial adequacy and faces the most immediate financing shortfall of any of the separate trust funds.
    DI Trust Fund reserves expressed as a percent of annual cost (the trust fund ratio) declined to 40 percent at the beginning of 2015,
    and the Trustees project trust fund depletion late in 2016, the same year projected in the last Trustees Report.
    Interest income and redemption of trust fund assets from the General Fund of the Treasury, will provide the resources needed to offset Social Security’s annual aggregate cash-flow deficits until 2034. Since the cash-flow deficit will be less than interest earnings through 2019, total income will exceed expenditures and reserves of the combined trust funds will continue to grow but not by enough to prevent the ratio of reserves to one year’s projected cost (the combined trust fund ratio) from declining.

    So who is stealing? Well the millions of more people that have decided they can live on SS Disability income rather then working.
    Who are these people? See the below study:
    EXography: Many disability recipients admit they could work

    In 2009, the Social Security Administration conducted a detailed study of disability recipients' characteristics, desire to work and their impediments from doing so. The survey included responses from 2,300 disability benefits recipients.
    There are approximately 11 million SSDI recipients and approximately seven million SSI recipients.[Note this were 2009 figures--below are current]
    Screen Shot 2015-09-22 at 7.36.17 AM.png
    -- 21% been on for 20 years or more
    -- Returning to work is not a goal for 71 percent of the SSDI recipients, 60 percent of the SSI recipients.
    -- Unearned disability, called SSI, is for individuals who have petitioned to be classified as disabled.

    Many of them have never worked and have never paid into Social Security.
    Earned disability, or SSDI, is for those who have held jobs for significant periods of time and
    paid at least partially into Social Security before becoming disabled.

    So NOT only are these people on SS DI NOT TAKING Money from the SS funds BUT they are never going back to work to PAY any SS taxes!

    This is a problem!!!
     
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  5. CrusaderFrank
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    CrusaderFrank Diamond Member

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    I'll get crayons later to draw a picture so you can understand
     
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  6. Dad2three
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    Dad2three Gold Member

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    Oh you mean the nearly $3 trillion in excess payments when Ronnie Raygun "saved SS" and increased taxes on the working man, as he gutted taxes on the rich and tripled the debt (not counting the excess $3 trillion the next 30 years)?
     
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  7. NYcarbineer
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    NYcarbineer Diamond Member

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    Government bonds ARE assets fuckwit.
     
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  8. Dad2three
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    Dad2three Gold Member

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    Without false premises, distortions and lies, what would right wingers EVER have?

    [​IMG]



    [​IMG]
     
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  9. Dad2three
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    Dad2three Gold Member

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    [​IMG]


    [​IMG]
     
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  10. JakeStarkey
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    :lol: Ask the activities aide there at the old folks home to get you some.
     
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