Does anyone other than me think it will be a blessing to the US and free enterprise when Social Security runs?

Question

Out? What will the people do who leech off of our government for a free check every month do? Maybe get a job?

Answer 1

I think you are confused about what social security provides. Social security is drawn based on what you pay in to it while working. It is funded by the 7.5% you pay (it's the FICA line on your pay check) and the 7.5% your employer matches with. The check is not free by any means.

Answer 2

There is an obvious bias in the posed question regarding "people who leech" from our government. And, yes, it is evident that there are some people out there who misuse the system, as with every other system. Example, there are some good cops and some bad. . . some extremely dedicated teachers and some who are just there to get the summers off. Is it fair to those people who are really in need of assistance and are utilizing it to get back on their feet.

Also, one thing that this question doesn't account for is the growing elderly population. So, you are telling me that after years and years of "giving to the country" by working and having taxes taken out of paychecks that these people will be jilted in the end. There is something wrong with this logic.

No matter what a country does, there will always be a group that struggles economically, for a variety of reasons. All we can do is a country is attempt to maintain a safe and thriving country. If we stop giving people money and they have no other way to get it, survival says that they will find a way to get it. Does this lead to an increase in criminal activity? I bet so.

Bottom line, we are all HUMAN and we all have to inhabit this country together. Rather than complaining about "what is" why don't we attempt to see the positive aspects of living, rather than dwelling on the negative. I'd rather be in my shoes than those people that are on welfare or on the streets. . . I'd rather be in the U.S. than in most parts of the rest of the world.

It's easy to complain, it's much more difficult to find a realisitc and ethical solution.

Answer 3

Social Security isn't free money, at first. The average retired person will make back every penny they placed into the system within about three years. After that they are simply sucking the funds dry. It was quite clear from the beginning that the system would fail. Ida May Fuller was a member of the first batch of recipients. Having paid into the system for just three years she had contributed $24.75 total (1930's dollars). Her first check alone was for $22.54. By the time of her death in 1975 she had collected nearly $23,000.

Answer 4

As a leech, I take exception -- I would like to have had my
retirement money put in my own private account for retirement
years ago (as Bush has proposed) but got sucked dry
by Social Security instead -- if thats all we have, us leeches
rely heavily on it.

Answer 5

How will crooked politicans make things look good?

What do you do when you want to screw only the working people of your nation with the largest tax increase in history and hand those trillions of dollars to your wealthy campaign contributors, yet not have anybody realize you've done it? If you're Ronald Reagan, you call in Alan Greenspan.
Through the "golden years of the American middle class" - the 1940s through 1982 - the top income tax rate for the hyper-rich had been between 90 and 70 percent. Ronald Reagan wanted to cut that rate dramatically, to help out his political patrons. He did this with a massive tax cut in the summer of 1981.
The only problem was that when Reagan took his meat axe to our tax code, he produced mind-boggling budget deficits. Voodoo economics didn't work out as planned, and even after borrowing so much money that this year we'll pay over $100 billion just in interest on the money Reagan borrowed to make the economy look good in the 1980s, Reagan couldn't come up with the revenues he needed to run the government.
Coincidentally, the actuaries at the Social Security Administration were beginning to get worried about the Baby Boomer generation, who would begin retiring in big numbers in fifty years or so. They were a "rabbit going through the python" bulge that would require a few trillion more dollars than Social Security could easily collect during the same 20 year or so period of their retirement. We needed, the actuaries said, to tax more heavily those very persons who would eventually retire, so instead of using current workers' money to pay for the Boomer's Social Security payments in 2020, the Boomers themselves would have pre-paid for their own retirement.
Reagan got Daniel Patrick Moynihan and Alan Greenspan together to form a commission on Social Security reform, along with a few other politicians and economists, and they recommend a near-doubling of the Social Security tax on the then-working Boomers. That tax created - for the first time in history - a giant savings account that Social Security could use to pay for the Boomers' retirement.
This was a huge change. Prior to this, Social Security had always paid for today's retirees with income from today's workers (it still is today). The Boomers were the first generation that would pay Social Security taxes both to fund current retirees and save up enough money to pay for their own retirement. And, after the Boomers were all retired and the savings account - called the "Social Security Trust Fund" - was all spent, the rabbit would have finished its journey through the python and Social Security could go back to a "pay as you go" taxing system.
Thus, within the period of a few short years, Reagan dramatically dropped the income tax on America's most wealthy by more than half, and roughly doubled the Social Security tax on people earning $30,000 or less. It was, simultaneously, the largest income tax cut in America's history (almost entirely for the very wealthy), and the most massive tax increase in the history of the nation (which entirely hit working-class people).
But Reagan still had a problem. His tax cuts for the wealthy - even when moderated by subsequent tax increases - weren't generating enough money to invest properly in America's infrastructure, schools, police and fire departments, and military. The country was facing bankruptcy.
No problem, suggested Greenspan. Just borrow the Boomer's savings account - the money in the Social Security Trust Fund - and, because you're borrowing "government money" to fund "government expenditures," you don't have to list it as part of the deficit. Much of the deficit will magically seem to disappear, and nobody will know what you did for another 50 years when the Boomers begin to retire 2015.
Reagan jumped at the opportunity. As did George H. W. Bush. As did Bill Clinton (although Al Gore argued strongly that Social Security funds should not be raided, but, instead, put in a "lock box"). And so did George W. Bush.
The result is that all that money - trillions of dollars - that has been taxed out of working Boomers (the ceiling has risen from the tax being on your first $30,000 of income to the first $90,000 today) has been borrowed and spent. What are left behind are a special form of IOUs - an unique form of Treasury debt instruments similar (but not identical) to those the government issues to borrow money from China today to fund George W. Bush's most recent tax cuts for billionaires (George Junior is still also "borrowing" from the Social Security Trust Fund).
Former Bush Junior Treasury Secretary Paul O'Neill recounts how Dick Cheney famously said, "Reagan proved deficits don't matter." Cheney was either ignorant or being disingenuous - it would be more accurate to say, "Reagan proved that deficits don't matter if you rip off the Social Security Trust Fund to pay for them, and don't report that borrowing from the Boomers as part of the deficit."

Answer 6

I bet contributor Don C looks something like your avatar.

Answer 7

Your avatar looks funny

Answer 8

Someone with your face makes me look beautiful!

Answer 9

Lets hear what you think when you're 80.

Answer 10

You have absolutely no idea what you're talking about.