What those old people put in was already spent. What those are paying in payroll tax right now pays Social Security right now.
Nothing is being 'put in' for us as we pay out in payroll taxes... it is just going in some person's pocket who is most likely already doing well. They get back far more than they ever "put in" in the long run....
And the income is based on how much you made previously. So big earners get fat SS checks each month, even if they have millions in the bank....
Even I was shocked that my grandmother received about $1000 a month on SS-- that lasted decades and she got far more than she ever put in because when that was established they never accounted for the variable of how long people live.
Do you see the dilemma?
2006-09-19 13:53:45 · 6 answers · asked by Anonymous in Politics & Government ➔ Politics
It is a pyramid scheme and the government always knew it. FDR didn't care that the economy would eventually collapse under the SSS scheme. He wanted to make things good for HIS generation and to hell with the future!
Fun Fact: There is actually no separate social security fund. All "contributions" go into the general tax fund like all the other taxes. We have been led to believe that it is a pension plan when in reality it was always just a socialist tax.
2006-09-19 13:59:16 · answer #1 · answered by Paladin 4 · 1⤊ 0⤋
The subject of Social Security is nearly as large as the universe so let's reduce it down to the simplest truth . People are blind and greedy. People have this notion that the U.S Government is a perpetual motion money machine. Now here is the reality of it all. Old people vote and young oeople like to go out and raise some hell in a demonstration because it is exciting , but most of them never register and vote. So if you are a politician ,who are you going to suck up to. Wild and crazy youth or the gray haired folks who are the largest block of voters. ? Well if you want to be reelected you better keep grannie and gramps happy.
2006-09-19 14:10:28 · answer #2 · answered by willy 2 · 1⤊ 0⤋
George W Bush wants to throw your grandmother and everybody Else's under the bus,, the only dilemma is that America has no heart to represent their interests anymore,, retirees in the USA would be better off moving to China
2006-09-19 13:59:46 · answer #3 · answered by Anonymous · 1⤊ 1⤋
SS is structured as a Ponzi-scheme and if you and I tried something similar out in the real world we would (after we were caught, that is!) go to jail. Ponzi-scheme operators are regularly regularly put in jail and that's where they belong.
2006-09-19 13:58:13 · answer #4 · answered by Walter Ridgeley 5 · 2⤊ 0⤋
And who actually thought the government was putting our money away for us?
Whoever those people are they should be taken out of their own misery.
2006-09-19 14:02:50 · answer #5 · answered by Anonymous · 2⤊ 0⤋
SHOW ME THE PROOF FOR YOUR MISGUIDED NOTION.
THE OLD PEOPLE NOW PAYED BACK THEN. WHEN YOU REACH YOUR OLD AGE THE YOUNG WILL PAY FOR YOU UNLESS THIS COUNTRY FALLS APART. THE BOTTOM LINE IS THAT SS DOESN'T GIVE YOU ENOUGH TO LIVE ON ANYWAY. YOU HAVE TO PREPARE FOR YOUR OWN RETIREMENT AND DON'T LEAVE IT UP TO SOMEONE TO PAY FOR YOU OR YOU WILL STARVE TO DEATH AS AN OLD PERSON. MY DAD WORKED HIS WHOLE LIFE AND ALL HE GETS IS 12OO PER MONTH BARELY ENOUGH TO LIVE.
2006-09-19 13:59:36 · answer #6 · answered by Anonymous · 0⤊ 2⤋