social security 'federal benefit payment'/entitlement!
Posted in the Los Angeles Forum
#1 Aug 20, 2012
Have you noticed, your Social Security check is now referred to as a "Federal Benefit Payment"?
The government is now referring to our Social Security checks as a “Federal Benefit Payment.”;
This isn’t a benefit – its earned income!
Not only did we all contribute to Social Security but our employers did too.
It totaled 15% of our income before taxes.
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 employer’s 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.
They took our money and used it elsewhere. They “forgot” 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.
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.
Just because they “borrowed” the money, doesn't mean that our investments were a 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 that 92% of our population who need it.
Here’s a novel idea: Reduce the military budget to support our own population.
Get out of the countries who don’t want us there.
Bring our soldiers home and invest some of the $700B+ in giving them new careers
building roads and parks, teaching our children, creating new technologies, discovering cures for illness.
Then take the rest and begin to pay back Social Security, and call it what it is: Our Earned Retirement Income.
#2 Aug 24, 2012
I put my own money into this pot,-- That is my money that I now receive! Who took it upon themselves to call this an "ENTITLEMENT"? Is this just more evidence that Obama is trying to turn us into a Socialist State?
#3 Aug 24, 2012
No one would dispute the fact that Obama is part of the world revolutionary movement that has as its purpose turning the nation into a Godless secularist socialist State. Obama, though, is merely the inheritor of an already existing Social Security tax system. Although the Obama administration uses Social Security tax money for crass political purposes - including the providing of taxpayer funded "benefits" to potential voters, including to his fellow "Blacks" who "immigrate" from Haiti and sub-Sarahan Africa, and others, that only serves to illustrate the tax nature of the Social Security system.
As far as "paying into" any other tax - for example, "paying into" the Government's income tax - make the claim to future "benefits" owed and base that claim on having "payed into" those myriad other Government tax schemes. See how far that gets you.
Big Government never made any claim that the Social Security taxation scheme is an "insurance program". Payers of the Social Security tax do not accrue vested interests to any future benefits. Big Government collects Social Security tax money. That money is then put into the General Fund, just like any other tax. The intent of the scheme is to cover the cost of certain welfare "benefits" that may be bestowed upon certain groups. That one of those costs is to offset the cost of providing welfare payments to those over a certain age, or to those who might "claim" to be unable to engage in productive work, does not change the nature of the Government Social Security taxation scheme. The political ruling class can increase, decrease, or eliminate "entitlement" to any so-called Social Security "benefits" at any time.
#4 Nov 14, 2012
uh....Entitlement means it is yours because you paid for it. Why do you people have to turn Everything ugly? UGH!
#5 Nov 15, 2012
I have heard it said that the Federal Reserve System is unconstitutional.
#6 Nov 16, 2012
Calm down Norman, nothing's changed. You still get your check every month, right?
#7 Nov 19, 2012
i was concerned not long after obama was elected for second term my husband who gets benfits for being legally blind got a letter saying his earnings from virginia industry for the blind he made over the limit from sept 2011 over a year later. my husband found out it was because when vib fired an employee and was waiting for the replacement to start he had to work extra there is only about six people who work switchboard at the va medical center. if he didnt then the others would be in trouble with ss has well they are all legally blind. they stated is benfits wouldnt stop we will wait and see. they need to focus on the ones who are milking the system not someone who isnt. i am not blaming the president ss can screw up all on their own
#8 Jan 16, 2013
maybe all you folks should get out your dictionary and look up the word "benefit" and also the word "entitlement"...seem s to me the definitions fit.
Add your comments below
|The 25 Most Dangerous Cities in the U.S. Are Mo... (Nov '10)||7 hr||Bently||19,559|
|Poisoned Drinking Water Supply||19 hr||Cancer Alert||1|
|Dodgers GM lies||Fri||wondring||3|
|Los Angeles commercial demolition services (Jul '08)||Thu||Paul Bear||2|
|Review: MI Windows and Doors (Apr '09)||Dec 18||KGR||110|
|Rename Griffith Park to Villaraigosa Park?||Dec 17||La Merced Dude||6|
|Do you use self storage? (Feb '11)||Dec 16||Go Blue Forever||31|
Find what you want!
Search Los Angeles Forum Now
Los Angeles News Video
Copyright © 2014 Topix LLC