That’s how it works
WAAAH: The rich get $10B per year from Social Security and other entitlements. Well, that’s how it works. You pay into it, you get some out. It doesn’t matter what you make.
Remember, I do this to entertain me, not you.
Uncle Pays the Bills
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December 13th, 2011 at 11:14 am
Waaah! indeed. The law as conceived had no Means Test, and should the LibTards ever foist one off on us, the correct response is just to repeal the entire law. Yep, starve the grandmas and all the chilluns.
Come to think of it, all the money collected was supposed to maintained in a Trust Fund, and it now all goes into the General Fund on “Loan” to the Treasury.
Maybe it’s ALREADY time to dump it (and I say that as a collector of it, both myself and my wife).
December 13th, 2011 at 11:36 am
“Earned Income Credit.” See how much is given to the “Poor” in Free Tax Refunds to those who made so little money that they didn’t qualify to pay Taxes in the First Place.
December 13th, 2011 at 11:43 am
Rivrdog, the whole “trust fund” was always nonsense. And as of this year, social security runs a deficit, spending more on benefits than it receives in payroll taxes.
December 13th, 2011 at 12:55 pm
When Dad retired, he applied for his SS benefits; caught hell from some people who insisted “You have a pension, you don’t NEED this!”
And rich he’s not.
December 13th, 2011 at 1:40 pm
Every year, the Social Security Admin publishes their annual report, sort of like a company. In there you will find the “auditors’ statement” or notes or whatever.
Every year there is a notation of the fact that while Congress may think there is such a thing as a Social Security Trust Fund, from an accounting point of view it is fiction.
And even if you believe that the fund could exist, here is what Washington does with it:
If you have 10 dollars in your right pocket, and 10 dollars in your left pocket, and you take that 10 on the left and put it in your right pocket and write an IOU to the left pocket, that doesn’t mean you have 30 dollars. But that is a pretty good idea of what the trust fund looks like. You can’t borrow money from yourself.
December 13th, 2011 at 2:49 pm
It is morally proper to recover what is stolen from you because it was yours in the first place. “Need” be damned, it is not a claim of any sort. You do not lose rights by becoming wealthy, hatemongering OWS and/or religious nonsense to the contrary notwithstanding.
December 13th, 2011 at 7:14 pm
Gotta keep that class warefare train a rollin.
December 14th, 2011 at 9:02 am
I find it interesting that the “break” the fedgov wants to give us taxpayers now involves continuing the Social Security withholding reduction. I’ve not seen much reaction about the fact that this will only (a) reduce the amount of money available for Social Security recipients, and (b) reduce the amount of money each individual contributes to Social Security, thus reducing their benefit when the time comes. This isn’t even a good scam! Or wouldn’t have been, back when our educational system turned out citizens able to, you know, think and calculate and stuff, you know?