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WoW Social Security up 0.3% for 2017
droptop
Member Posts: 8,363 ✭✭
Excited !!! won't sleep well thinking about buying lots of neat "stuff". 
https://www.ssa.gov/news/press/factsheets/colafacts2017.pdf
https://www.ssa.gov/news/press/factsheets/colafacts2017.pdf
Comments
dan
SS is not a retirement plan, it is an entitlement insurance plan that has been politically manipulated to buy votes from those that want as much as or more than what they put in.
Yes, most of us will receive less than we contributed. When one considers the fact that the program is taking in much less than it is paying out, it is kind of silly to raise the payout amount at all.
Brad Steele
Security.
Yes they tax Social Security and it was the party that professes saving SS that gave you the tax: DEMOCRATs
Did you know the $255 death benefit hasn't been increased since 1941.
But the cronies, crooks and criminals I mean politicians don't have to worry about this because they're exempt from it.
The SS system is just for us peasants.[B)]
Those that retired in 2010 are the first that, on average, will receive less than what they paid into the system. The difference will increase with every succeeding year.
SS is not a retirement plan, it is an entitlement insurance plan that has been politically manipulated to buy votes from those that want as much as or more than what they put in.
Yes, most of us will receive less than we contributed. When one considers the fact that the program is taking in much less than it is paying out, it is kind of silly to raise the payout amount at all.
That seems correct for one of the parties.
Payer:
Payee:
But Don the SS system would have plenty of $$$ if the government didn't spend it when the system was solvent.
Did you know the $255 death benefit hasn't been increased since 1941.
But the cronies, crooks and criminals I mean politicians don't have to worry about this because they're exempt from it.
The SS system is just for us peasants.[B)]
The SS 'Trust Fund' was invested in Government Bonds, and earned that interest upon maturity. It wasn't spent in the sense that it was tracked and internally got what has been historically the safest ROI of all instruments. Not the best ROI, mind you, but the safest.
The link below gives a listing of currently held securities. If you go to 'Investments Held' at the top left of the page, you can look up securities purchased in any month back to 1990.
https://www.ssa.gov/cgi-bin/investheld.cgi
The fund is running out of money now because it has paid out to people much more than they paid in plus the return paid out by the bonds.
Both parties have used the system to buy peoples' votes for decades. This entitlement mentality has destroyed the system, as any politician that has vowed to bring payouts in line with income is never voted into office.
There are any number of insurance companies that offer an inexpensive death benefit policy. Why would it be incumbent upon government to provide this at all?
Brad Steele
Some folks would argue that SS in not an entitlement program. The system is not a government handout. As stated above it was designed to be a forced savings held in a trust account by government. We do not have the same program that was inacted. It has been butchered like almost everything else by corrupt government.
quote:The Social Security system is sometimes considered to be a social aid program and has some characteristics of such programs, but unlike these programs, social security was designed as a self-funded security blanket - so that as the payee pays in (during working years), they are pre-paying for the payments they'll receive back out of the system when they are no longer working.
Some folks would argue that SS in not an entitlement program. The system is not a government handout. As stated above it was designed to be a forced savings held in a trust account by government. We do not have the same program that was inacted. It has been butchered like almost everything else by corrupt government.
SS and Medicare are the very definition of an Entitlement Program. The term has been vilified by some to somehow separate the welfare programs that are not individually identified from the welfare programs that are individually identified. Any government program that guarantees a payment or benefit to any group of people is an Entitlement Program. It is not a negative term, IMO.
It has not been butchered by government. It has been butchered by the voters who vote people into office (like Hillary Clinton and Donald Trump) who vow to not cut payouts and/or increase payouts without taking the politically risky step of proposing practicable ways of paying for it. If everyone received only what they paid in, the program would fail due to administrative expenses. All government programs need to take in more money than they pay out.
Today SS takes in less than it pays out. It is unsustainable. Paul Ryan presented a plan some years ago that attempted to address this fatal flaw, but was roundly rebuffed by both the GOP and DEM members of the house. If the SS system is to remain a unique entity in the Federal Budget, steps will have to be taken to bring expenses in line with revenue. This will by necessity involve increasing revenue relative to expenses. One can do this by increasing revenue which only the Democrats want to do or decreasing expenses which no one wants to do, or both, which everyone should want to do.
Brad Steele
I don't look a give horse in the mouth even if he is only .3 hands tall.
I am taking my windfall to go next door and bid on a gun. Later.
Don, you have to admit, it has worked better and longer than most Ponzi schemes.
I don't look a give horse in the mouth even if he is only .3 hands tall.
I am taking my windfall to go next door and bid on a gun. Later.
People are just living too damn long now, He Dog.
When this was set up, few lived long enough to collect much at all.
I begrudge no-one their windfall, either. Particularly so fine a gentleman as yourself and one who puts it to such noble use.
Brad Steele
Ros
"Never do wrong to make a friend----or to keep one".....Robert E. Lee