Zone1 Social Security Scam

[Ame®icano]

Right, Genius. Can you read? If so, here ya go: Social Security History
Find it. Quote it. Or kindly STFU already!

You know, the logical and moral way to proceed would be to provide evidence supporting your obviously questionable assertions at the exact same time you proclaim them. But keep being an insufferable jerk. It's what makes you so adorably ignorable.

And again, dunce... I was talking about proposal. He pitched it as voluntary to get public to his side. When he couldn't push for it, he made series of compromises with racist southern Democrats, to exclude some 65% of blacks from it, to block every attempt to eliminate racist lynching laws, and he threatened to pack the Supreme Court when they said they will overturn it.

Just as Obama pitched that "if you like your doctor, you can keep your doctor" and "if you like your plan...", and that "you will save $2500 a year"... and lied to public to get his ACA passed.

 

[Grumblenuts]

And again, dunce... I was talking about proposal. He pitched it as voluntary to get public to his side. When he couldn't push for it, he made series of compromises with racist southern Democrats, to exclude some 65% of blacks from it, to block every attempt to eliminate racist lynching laws, and he threatened to pack the Supreme Court when they said they will overturn it.

Just as Obama pitched that "if you like your doctor, you can keep your doctor" and "if you like your plan...", and that "you will save $2500 a year"... and lied to public to get his ACA passed.nd again, dunce...

"And again, dunce..." you just keep shooting fast and loose from the hip, offering no links or quotes from reputable sources to back your numerous claims of fact regarding FDR. I don't disagree necessarily, especially regarding Obama, but it's all just pointless babble until you can back it up -- which you have clearly avoided doing like the plague.

He pitched it as voluntary

Great. Heard you the first time.

FDR's proposal for SS was to be voluntary.

Now try proving it!

 

[Bezukhov]

The program was updated to bring it in line with the economic realities of the times. It is still the most successful government program ever conceived.

The SS Trust Fund is indeed borrowed by the government, which pays interest on the funds it borrows. Those funds will be recovered by SS as needed.

Can't figure that out. The same people who are giving SS money, who then turns around and lends to the government; the government leaves its IOUs in the Trust Fund. So the same people who are paying SS taxes are the same people who are going to be taxed to pay off the governments IOUs, n'est-ce pas? How can one loan themselves money?

Wrong. Employer plus Employee FICA is 12.4%. The 2% I mentioned was for both. 12.4% is more than 6X 2%

The 1.45% for Medicare is ADDITIVE to SS, and is a total of 2.9% for both Employer and Employee

So actually the ratios is even hire now at 15.3%, 7.65X the original SS total tax.

Topic no. 751, Social Security and Medicare withholding rates | Internal Revenue Service

IRS Tax Topic on Social Security and Medicare taxes.

www.irs.gov

Actually we pay all of it. The employer will either pay less in wages, or charge more for whatever the product is.

 

[Grumblenuts]

Sources of Trust Fund Income​

During 2021, an estimated 179 million workers had earnings covered by Social Security and paid $981 billion in payroll taxes. Employees pay a 6.2 percent contribution from earnings up to a maximum of $147,000 in 2022, which their employers match. Self-employed workers pay both shares of the contribution, or 12.4 percent. Generally, more than 40 percent of current beneficiaries pay income taxes on part of their benefits, and those taxes go to the OASDI trust funds and Medicare's Hospital Insurance Trust Fund. In 2021, income to the combined OASDI trust funds from the taxation of benefits amounted to $38 billion. The trust funds also earned $70 billion in interest payments on their accumulated reserves.

So the interest on the main SS "trust fund" (a specific Treasury account) amounted to around twice the tax revenue collected. That's because the (say) "General Fund" (a different Treasury account) borrows all the principal in the main SS "trust fund" by issuing sufficient Treasury bonds concurrently. It has always worked that way, and so long as more people keep retiring and living longer the reserve will continue coming up short in the long run.

 

[Admiral Rockwell Tory]

That is because the educational system has been transformed into a globalist-socialist propaganda trough. Kids used to learn vocational skills with a smaller portion going to college for degrees that had actual market value. Now, we have an army of DEI activists with no skills and entitlement attitudes in place of people who can actually do real work (i.e. the 90% of Twitter staff that has exited or is on the way out). I'd rather not fill a position than to hire a DEI activist.

What makes you think schools do not have these programs today?

 

[Admiral Rockwell Tory]

SS Cola is 5.7%. Inflation is far higher than that.

Here is reality: the government has spent all of the SS "trust fund" as well as taken on enormous debt. They see three options: 1) default, 2) massive tax increases, or 3) debase the currency via inflation so the debt is cheaper to payback. When inflation is 10%+, you 5.7% Cola is a cut in benefits.

The government should cut spending and regulations to spur growth - but there's less opportunity for graft in that, so they'll continue to push the scamdemics and wars du jour.

It is? For 2023, the increase is 8.7%.

 

[boedicca]

What makes you think schools do not have these programs today?

It's a matter of numbers. A larger portion of kids went to college (the increase being largely for worthless degrees). We now have shortages of workers for skilled trades.

 

[boedicca]

It is? For 2023, the increase is 8.7%.

I was referring to the 2022 COLA. Getting 8.7% in 2023 doesn't cover the inflationary impact this year. For next year, the Feds estimate the average recipient will get $140 a month more. That isn't going to cover the increases in food, gas, utilities and other necessities.

 

[Woodznutz]

Can't figure that out. The same people who are giving SS money, who then turns around and lends to the government; the government leaves its IOUs in the Trust Fund. So the same people who are paying SS taxes are the same people who are going to be taxed to pay off the governments IOUs, n'est-ce pas? How can one loan themselves money?

Actually we pay all of it. The employer will either pay less in wages, or charge more for whatever the product is.

It's messy but it seems to work.

 

[Woodznutz]

It's a matter of numbers. A larger portion of kids went to college (the increase being largely for worthless degrees). We now have shortages of workers for skilled trades.

People today want to wear 'dressy casual' clothes, sit at a computer, and get their exercise at a health club. The 'shop floor' is anathema to them, like being consigned to hell. The liberal education system has successfully sowed disdain for blue collar work deeply into this generation.

 

[boedicca]

People today want to wear 'dressy casual' clothes, sit at a computer, and get their exercise at a health club. The 'shop floor' is anathema to them, like being consigned to hell.

And many of them don't know what a work ethic is.

 

[Admiral Rockwell Tory]

It's a matter of numbers. A larger portion of kids went to college (the increase being largely for worthless degrees). We now have shortages of workers for skilled trades.

Our programs were always very popular and usually full.

 

[boedicca]

Our programs were always very popular and usually full.

In what state and how long ago? I can tell you that in California, vocational classes in high school have been reduced quite a bit.

 

[Admiral Rockwell Tory]

In what state and how long ago? I can tell you that in California, vocational classes in high school have been reduced quite a bit.

I retired from KY and last taught 4 years ago.

In Florida, in the late 90s and early 2000s we had entire vocational-dedicated high schools students could attend, with three in my district.

California is one of the worst states in the US for education. Too many minorities that don't speak English is the problem.