Why I Support a Public Option.

[AVG-JOE]

(1) The government has proved to us all that they can't manage Social Security.

1.2%..... 'Nuff said.​

Could you source that, please?
​

I read it on the web site: Social Security Online - The Official Website of the U.S. Social Security Administration last summer; I'll link it as soon as I find the page again.

Found it.

Social Security Administrative Expenses

 

[☭proletarian☭]

Interesting. Now all we need is the percentage of total expenses that goes towards actually paying for people's care.

Of course, I'd be curious as to how these numbers were calculated. Are the wages of the workers factored in, or are they paid out of a more general fund?

 

[AVG-JOE]

Interesting. Now all we need is the percentage of total expenses that goes towards actually paying for people's care.

Of course, I'd be curious as to how these numbers were calculated. Are the wages of the workers factored in, or are they paid out of a more general fund?

It is my understanding, from a 30+ year veteran of the SS Agency who is a district manager that the overall 1.2% figure is calculated as 1.2% of FICA taxes (the tax dedicated to Social Security) goes to running the agency. I questioned him as to the scope and he told me the figure includes all employee salaries, office rent, utilities, office supplies, etc to administer both SSA and SSI.

98.8% of the money paid into Social Security is returned as benefits to the taxpayers who paid the taxes.

That figure still kind of blows my mind, but the incredulousness can be tempered by the sheer economy of scale that is the bureaucracy.