Zone1 Social Security Scam

[Ame®icano]

Social Security History

as opposed to this flaccid, whiney, old pile of myths and disinformation.

Do you write your own resume, or you have it done by someone else?

 

[Ame®icano]

If we would behave ourselves our taxes could be much lower.

Who's "we"?

The only who has to behave is US government. I got my own finances in order.

 

[Grumblenuts]

I consider the employer portion a tax on the employee; it's compensation that could have been paid to the employee that is diverted to government spending. The original SS tax was 2% (1 pt each for employee and employer). We're now at over 6X the original burden. You are correct, younger folks are going to see the rates accelerate unless the program is dramatically reformed.

Wrong. FICA is currently 6.2% which is still only 3.1X the original 2%.
However, 1.45% of that 6.2% goes to fund Medicare.
6.2% - 1.45% = 4.75% to fund SS.
4.75% / 2% = 2.375X the original 2%, not "6X the original burden."
"I consider" you either innumerate or pretending to be.

 

[Grumblenuts]

Do you write your own resume, or you have it done by someone else?

Résumé? Non. Pas question! Retired. À la retraite. Eat your heart out. Mange et bon appétit!

 

[Blues Man]

But they can't expand to take advantage of new business because of the lack of workers. Guess who fills that void...China.

One more reason to let people won their SS accounts so they don't have to depend on a shrinking work force for their futures

 

[Woodznutz]

One more reason to let people won their SS accounts so they don't have to depend on a shrinking work force for their futures

Do you think everyone is ready to self-manage their retirement needs?

 

[boedicca]

Wrong. FICA is currently 6.2% which is still only 3.1X the original 2%.
However, 1.45% of that 6.2% goes to fund Medicare.
6.2% - 1.45% = 4.75% to fund SS.
4.75% / 2% = 2.375X the original 2%, not "6X the original burden."
"I consider" you either innumerate or pretending to be.

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

 

[Grumblenuts]

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

Okay, you win. I was wrong. Well played.

 

[Blues Man]

Do you think everyone is ready to self-manage their retirement needs?

anyone can learn how to do it.

It ain't rocket science.

 

[Woodznutz]

anyone can learn how to do it.

It ain't rocket science.

Knowing and doing are often not the same.
A lot of 'shit happens' on the way to retirement.

 

[Blues Man]

Knowing and doing are often not the same.
A lot of 'shit happens' on the way to retirement.

If the money is in an account that cannot be withdrawn from until a certain age like SS is is now what's the difference other than who actually owns the account?

 

[dblack]

If the money is in an account that cannot be withdrawn from until a certain age like SS is is now what's the difference other than who actually owns the account?

Ownership is control. If the government controls the account, they own it.

 

[debbiedowner]

Wrong. FICA is currently 6.2% which is still only 3.1X the original 2%.
However, 1.45% of that 6.2% goes to fund Medicare.
6.2% - 1.45% = 4.75% to fund SS.
4.75% / 2% = 2.375X the original 2%, not "6X the original burden."
"I consider" you either innumerate or pretending to be.

Wrong:

For both of them, the current Social Security and Medicare tax rates are 6.2% and 1.45%, respectively. So each party – employee and employer – pays 7.65% of their income, for a total FICA contribution of 15.3%. To calculate your FICA tax burden, you can multiply your gross pay by 7.65%.

 

[Grumblenuts]

Wrong:

For both of them, the current Social Security and Medicare tax rates are 6.2% and 1.45%, respectively. So each party – employee and employer – pays 7.65% of their income, for a total FICA contribution of 15.3%. To calculate your FICA tax burden, you can multiply your gross pay by 7.65%.

I consider you illiterate or pretending to be. Most likely the latter.

Okay, you win. I was wrong. Well played.

 

[Blues Man]

Ownership is control. If the government controls the account, they own it.

Which is why we need people to own their own SS accounts.

 

[Grumblenuts]

Which is why we need people to own their own SS accounts.

So that corporate "persons," billionaires hiding behind their protective little banks and insurance corporations, may enjoy far reduced public access, scrutiny, and oversight -- Allowing them ever faster and easier shuffling, swapping, betting, bundling, transfer feeing,.. basically the final sucking of everyone's essence dry.

 

[Grumblenuts]

When Franklin D. Roosevelt, a Democrat, introduced Social Security, he promised that participation in the program would be completely voluntary.

Q: Did FDR promise that Social Security would be voluntary? Did Democrats end tax deductions for Social Security withholding?

A: Social Security has never been voluntary and taxes paid to support it have never been deductible from federal income taxes. A widely e-mailed "history lesson" gets nearly all its facts wrong.

 

[Ame®icano]

When Franklin D. Roosevelt, a Democrat, introduced Social Security, he promised that participation in the program would be completely voluntary.

Q: Did FDR promise that Social Security would be voluntary? Did Democrats end tax deductions for Social Security withholding?

A: Social Security has never been voluntary and taxes paid to support it have never been deductible from federal income taxes. A widely e-mailed "history lesson" gets nearly all its facts wrong.

Every politician is propose plans that are easy to accept. Once its passed, it suddenly become expensive, and nothing like when it was proposed.

Read my post above again. FDR's proposal for SS was to be voluntary. Bill passed by Congress was not even close to proposed one. The same happened with every government social program. Just take a look at recent one, ACA - Obamacare.

 

[Ame®icano]

Résumé? Non. Pas question! Retired. À la retraite. Eat your heart out. Mange et bon appétit!

Of course, it would be a miracle if you would attempt to address the question. Perhaps you would, if you were smart enough to understand it. Quel gâchis...

 

[Grumblenuts]

Read my post above again. FDR's proposal for SS was to be voluntary.

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.