What is social security, social security numbers and why am i hearing so much about it being endangered?

Question

When I say endangered, i mean i hear a lot about social security not being here for very long. I don't know. I may have heard wrong. But please explain to me first what it is and SSNs as well before we go into the endangered part. I hope I made that clear. Sorry.

Answer 1

During the depression years (1930's) so many people lost their life savings when banks failed, that the government set up a retirement insurance system called Social Security.

Every adult is required to register and is assigned a number. The law states it is illegal to use the number for purposes of identification. The government is one of the worst offenders breaking that law.

Over the years the taxes paid into it by workers built up a huge surplus of funds and the government enacted amendments to the system allowing all sorts of things to be paid out of it. "Borrowing" from the fund was a regular occurrence by several administrations. During the Reagan administration, temptation finally overruled common sense and the fund was abolished, the money put into the general fund (can be used for anything our elected employees decide) and the taxes paid into it started going to the general fund.

Since the system was gutted and robbed, it is forecast that in about 30 or 40 years the taxes collected will no longer exceed those paid out, and that is the "crisis".

Reagan's other contributions include union busting, closing mental health facilities so those requiring care were cast out to die, swell the ranks of the homeless and overcrowd the prisons.
He also bears the burden of the Savings and Loan scandal in which the Bush family made millions at the expense of taxpayers (a continuing cost that has already run into $trillions).


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Answer 2

As far as social security numbers, the government assigns a 9-digit number to each person, although some people never obtain one for certain reasons. There are so many people, and there can only be a set number of combinations of the 9 numbers, so the SS numbers do get reused eventually.
Social Security is currently paid by every working American, and it is automatically taken out of every paycheck. This money goes into a pool that the government has control of and provides it to senior citizens, disabled persons, and other people who are entitled to the benefits. Social Security will eventually start paying out more than it is pulling in from people's paychecks in what most experts say is 15 years, others say 50 years.
Some politicians (mainly Republicans) are pushing to privatize social security, which would take the money from the taxpayers and put it into private accounts. The problem is that the "promised benefits" that we are paying for now are not going to be the benefits that most of us will actually get when we reach retirement age. What should you do? Make sure you take out a 401k as soon as possible, and save your money so you don't have to work until you die, but actually enjoy your retirement.

Answer 3

A SSN is a number that is given to identify a person in the US. It stays with them forever. They can't change it, even if they get married or change their name. A SSN may be endangered because of identify theft. As for SS funds, there are (or at least will be eventually) more people receiving money than the amount of money being put into the fund (due to the population increasing, mismanagement, and longer life expectancies).

Answer 4

Social Security is a Ponzi Scheme where working people are taxed so the government can transfer the money those no longer working. Originally 13 workers would support one non worker. Today it is 2 workers have to support one non worker. So you have to work harder for less money.

A Ponzi Scheme is illegal unless run by the govt.

The SSN is used to track your taxes paid into Social Security. Just because you pay, doesn't mean you will get any money back. You do not own anything. That money belongs to the politicians to do as they please.

People would be much better off if they invested that money themselves into an account they own.

Answer 5

social security was Franklin Roosevelt's idea it is a portion of each paycheck that the government takes and is supposed to save as a way to help fund your retirement. why it is in danger is because the government keeps borrowing against it and than not paying back the loans they just can't seem to figure out 1+1=2 not 4 .if you keep spending money you don't have you go broke.and if other people depend on the money being there their sh out of luck

Answer 6

social security was started and has ben around for over 60 years hons, it was started bye then president franklind d roosevellt, hons, and he was the longest serving president, 12 years and in a wheel chairr. social security is taken out of your paycheck when you get a job and when you get too be old youcan draw of from itt. or if at some point in in your life you can draw social security disablity if you get hurt on the job hons or disabledd at a certain point in your life, and it wasent , never intended too make any one fat and rich hons. a small portion is taken out of each pay check bye the goverment when you get too be a old bag hons. and social security is endanger and may run out in the year 2,o7, because it has been borowed from and the money never put back inn againn. its running out because there arent enough jobs and tax payers in this country paying in and people are living longer now days, like in there 80s and ninities and its draining the system too. another thing is this war with the war dead wo wil never help support the systemm and paying into it.

Answer 7

if you are an american citizen you have to get a social security number. this number you will use for identification and most anything you go to do. you also will have to have this numbet to get a job and pay social security for your retirment.
now for social security its a fund that you pay a portion of your pay into for your retirment. the reason you hear its not going to be here long is its just a scare tactic to generate more votes for the republicans and you hear it mostly during election time. now they are riding the illegal thing for votes.

Answer 8

The government raided it years ago. And now they're handing it out to illegals. It's something we paid into all are life. Now it's like a slap in the face, because they stole our money. If you or I did that, we'd be in a federal prison.

Answer 9

You don't think rich republicans prefer social security for the poor, when they can have tax cuts instead, do ya?

Answer 10

http://www.socialsecurity.gov/