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Subject: Social Security Insurance

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Dave Smith    Posted 02-11-2019 at 17:11:18 [URL] [DELETE]        [Reply] [Email]  
  • Social Security Insurance
  • It is NOT a Social Security Benefit

    A woman dies at age 65 before collecting one benefit check. She and her employer paid into the system for almost 50 years and she collected NOTHING. Keep in mind all the working people that die every year who were paying into the system and got nothing.

    And these governmental morons mismanaged the money and stole from the system, so that it's now going broke.
    BEAUTIFUL! And they have the audacity to call today's seniors "vultures" in an attempt to cover their ineptitude. DISGRACEFUL!

    The real reason for renaming our Social Security payments is so the government can claim that all those social security recipients are receiving entitlements thus putting them in the same category as welfare, and food stamp recipients.
    F.Y.I. By changing the name of SS contributions, it gives them a means to refute this program in the future. It's free money for the government to spend under this guise.
    The Social Security check is now (or soon will be) referred to as a Federal Benefit Payment ?
    I'll be part of the one percent to forward this. I am forwarding it because it touches a nerve in me, and I hope it will in you.

    Please keep passing it on until everyone in our country has read it.
    The government is now referring to our Social Security checks as a "Federal Benefit Payment."
    This is NOT a benefit. It is OUR money , paid out of our earned income! Not only did we all contribute to Social Security but our employers did too ! It totaled 15% of our income before taxes.(This should be enough for you to forward this message, If not read on.)

    If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security.
    If you calculate the future value of your monthly investment in social security ($375/month, including both you and your employers contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved.

    This is your personal investment. Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month.

    That's almost three times more than today's average Social Security benefit of $1,230 per month, according to the Social Security Administration. (Google it it's a fact). And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.
    Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did (or Lyndon Johnson).
    They took our money and used it elsewhere. They "forgot"(oh yes, they knew) that it was OUR money they were taking. They didn't have a referendum to ask us if we wanted to lend the money to them ... and they didn't pay interest on the debt they assumed. And recently they've told us that the money won't support us for very much longer. (Isn't it funny that they NEVER say this about welfare payments?)
    But is it our fault they misused our investments? And now, to add insult to injury, they're calling it a benefit, as if we never worked to earn every penny of it. This is stealing!
    Just because they borrowed the money, doesn't mean that our investments were for charity!
    Let's take a stand. We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government.
    Find a way to keep Social Security and Medicare going for the sake of the 92% of our population who need it.

    Then call it what it is:
    Our Earned Retirement Income .

    Mower    Posted 02-12-2019 at 17:19:13 [URL] [DELETE]        [Reply] [No Email]  
  • Re: Social Security Insurance
  • Make you wonder why anyone would be stupid enough to rely upon social security for their retirement income. There are far better investment options available, especially when (the smart folks) start young and have a significant nest egg that doesn't include social security when they retire.

    On a side note, that has been floating around for at least 6 or 7 years, and much of it is nonsense. For example, "they" didn't just recently change the name of social security to federal benefit payments. It's been called that since the 1935.

    Jim Rushford, CA    Posted 02-11-2019 at 21:28:41 [URL] [DELETE]        [Reply] [Email]  
  • Re: Social Security Insurance
  • As one drawing SS (and still working and contributing), kind of makes me sick to my stomach.

    John in Mich    Posted 02-12-2019 at 09:43:41 [URL] [DELETE]        [Reply] [No Email]  
  • Re: Social Security Insurance
  • I am 76. I retired at 64 and started my SS immediately. Yes, a "reduced" amount. Taking the numbers above, which are low for my purposes, by age 96 I would draw less tha 50% of what was paid into SS under my SS number. Even calculating with a higher estimate, I would still draw less than 50% by age 96. Thank you dems/libs.
    50 years ago I proposed that my contributions to SS and my employer's contributions be placed into a private investment account (later IRA) in my name with my family/estate the heirs.
    At the same time, I would sign an annual statement form with my income taxes that I would NEVER be allowed to draw from the SS system. How much money would I have today or my family would have if I had died at a young age (under 65)?

    poderac    Posted 02-12-2019 at 10:57:31 [URL] [DELETE]        [Reply] [No Email]  
  • Re: Social Security Insurance
  • And how much money would your family have lost if you had been killed a year after you started paying in on that plan? How much money does a surviving spouse and kids get when a young bread winner dies?

    PS. I agree with the OP. They have stolen our savings, but I also recognize the money paid out over the amount some individuals paid in.

    John in Mich    Posted 02-12-2019 at 14:51:46 [URL] [DELETE]        [Reply] [No Email]  
  • Re: Social Security Insurance
  • Yes, life is a risk. That is why I carried life/accident insurance. My father used to say he was worth more dead than alive.

    John in MIch    Posted 02-11-2019 at 19:03:24 [URL] [DELETE]        [Reply] [No Email]  
  • Re: Social Security Insurance
  • I have copied the above and sent it out to my e-mail distribution. I added information about LBJ's "Great Society" using our SS funds. I also suggested that each person roughly calculate the dollars that would have been generated in their earning situation during a 40 year career.

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