For those that don't know...Ida May Fuller & Social Security - PowerStrokeNation : Ford Powerstroke Diesel Forum
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post #1 of 18 (permalink) Old 11-10-2010, 04:04 PM Thread Starter
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For those that don't know...Ida May Fuller & Social Security

It was broken the very day it started

Ida May Fuller - Wikipedia, the free encyclopedia

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Ida May Fuller (September 6, 1874 – January 1975) was the first American to receive a monthly benefit Social Security check. She received the check, amounting to $22.54, on January 31, 1940.

Fuller was born on a farm outside Ludlow, Vermont. She spent most of her life in Ludlow, working as a legal secretary, but lived with her niece in Brattleboro, Vermont, during her last eight years. She retired in 1939, having paid just three years of payroll taxes. She received monthly Social Security checks until her death in 1975 at age 100. By the time of her death, Fuller had collected $22,888.92 from Social Security monthly benefits, compared to her contributions of $24.75 to the system
Social Security Online History Pages

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Miss Fuller filed her retirement claim on November 4, 1939, having worked under Social Security for a little short of three years

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post #2 of 18 (permalink) Old 11-10-2010, 11:30 PM
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Re: For those that don't know...Ida May Fuller & Social Security

And that is supposed to mean what?

The flip side of that is, how many have contributed for 30 years and died before they collected anything?

The problem isn't SS as a program.

The problem is that the money collected, has never been separated from general revenue and put into a dedicated account.

That's the same thing as saying that insurance is "broke," because the guy who just got his car last week totals it and the insurance has to pay..............even though he's only paid one month of premiums.
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post #3 of 18 (permalink) Old 11-11-2010, 12:45 AM Thread Starter
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Re: For those that don't know...Ida May Fuller & Social Security

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Originally Posted by AK Gandy View Post
And that is supposed to mean what?

The flip side of that is, how many have contributed for 30 years and died before they collected anything?
I wouldn't expect you to see the issue of someone paying in $24 and getting 1000 times the return.....by taking from someone else. Especially considering the railroad was exempted from Social Security.

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Originally Posted by AK Gandy View Post
The problem isn't SS as a program.

The problem is that the money collected, has never been separated from general revenue and put into a dedicated account.
Sure it has

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Originally Posted by AK Gandy View Post

That's the same thing as saying that insurance is "broke," because the guy who just got his car last week totals it and the insurance has to pay..............even though he's only paid one month of premiums.
.
The difference....a business made a conscious decision to hedge their bets as compared to us who are forced to hope we can recoup a little of our "investment"

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post #4 of 18 (permalink) Old 11-11-2010, 12:58 AM
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Re: For those that don't know...Ida May Fuller & Social Security

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Originally Posted by PsRumors View Post
I wouldn't expect you to see the issue of someone paying in $24 and getting 1000 times the return.....by taking from someone else. Especially considering the railroad was exempted from Social Security.
And I really expected you to understand my very good analogy to car insurance.

Not to mention that anyone not contributing to SS...............can't collect it.

Which includes those covered under Railroad Retirement, as well as those who were under th Civil Service Retirement System prior to 1983 (I think that was the year).


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Sure it has.
You're wrong.

Show us where the money collected is sitting in an account somewhere with "SS" stamped on it.




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The difference....a business made a conscious decision to hedge their bets as compared to us who are forced to hope we can recoup a little of our "investment"
Hard to answer that, as it doesn't even make sense.

You do realize don't you, that SS's official designation is...........wait for it........here it comes........ta da.........




Old-Age, Survivors, and Disability Insurance (OASDI)

.

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post #5 of 18 (permalink) Old 11-11-2010, 01:05 AM
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Re: For those that don't know...Ida May Fuller & Social Security

Gandy,is absouluty right on this,social security DOES NOT have its own account, it is designated as general usage funds,i cannot find the article now,but i just read a big arcticle about it. and it is supposed to be insurance of sorts.

i didnot know though that railroad workers werent intitled to S.S. huh,learn something new each day i guess
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post #6 of 18 (permalink) Old 11-11-2010, 08:49 AM
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Re: For those that don't know...Ida May Fuller & Social Security

Yep. Gandy is correct. And his example of auto insurance translates perfectly to all insurance. So by his standards that means health insurance wasn't broken either.

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post #7 of 18 (permalink) Old 11-11-2010, 11:31 AM
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Re: For those that don't know...Ida May Fuller & Social Security

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Yep. Gandy is correct. And his example of auto insurance translates perfectly to all insurance. So by his standards that means health insurance wasn't broken either.
Gee, of all people I thought you would have been able to understand what happens if an insurance company takes in premiums........ but spends it on other things and doesn't put aside enough for claims.

My mistake.

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post #8 of 18 (permalink) Old 11-11-2010, 12:00 PM Thread Starter
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Re: For those that don't know...Ida May Fuller & Social Security

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Originally Posted by AK Gandy View Post
And I really expected you to understand my very good analogy to car insurance.

Not to mention that anyone not contributing to SS...............can't collect it.
I understand your analogy, just disagree with it. It is MY money being paid into a retirement plan I should get it back, if I die my heirs should get it (not just the $250).

Someone that pays in $22 shouldn't get $22k.

Commercial insurance on a voluntary basis I see as different.

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Originally Posted by AK Gandy View Post

Which includes those covered under Railroad Retirement, as well as those who were under th Civil Service Retirement System prior to 1983 (I think that was the year).
And again that is part of the problem, special group(s) getting special treatments while others are stuck with no way out.

If it is for the common good, shouldn't EVERYONE be required to deal with it?

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You're wrong.

Show us where the money collected is sitting in an account somewhere with "SS" stamped on it.
The money isn't just sitting, it is invested. There is a SS trust and the money is not spent it is invested.....or snopes is wrong (spin)


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Originally Posted by AK Gandy View Post
Hard to answer that, as it doesn't even make sense.

You do realize don't you, that SS's official designation is...........wait for it........here it comes........ta da.........




Old-Age, Survivors, and Disability Insurance (OASDI)

.
I can designated a pile of dog pooh as peppermint but it doesn't stop being dog pooh.

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post #9 of 18 (permalink) Old 11-11-2010, 12:39 PM
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Re: For those that don't know...Ida May Fuller & Social Security

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Originally Posted by PsRumors View Post
I understand your analogy, just disagree with it. It is MY money being paid into a retirement plan I should get it back, if I die my heirs should get it (not just the $250).

Someone that pays in $22 shouldn't get $22k.

Commercial insurance on a voluntary basis I see as different.
You may see it differently, but it's not different.

It's simply another type of insurance.

You don't get all of your car insurance premiums back when you die....now do you?



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And again that is part of the problem, special group(s) getting special treatments while others are stuck with no way out.
That's not true.

If you happened to work for a company that had a pension plan, and you still contributed to SS.....you could get both.

If you don't work for a company with a pension plan, maybe you should do what so many of the hardcore people say about those without health coverage........get a better job. (which I think is a pretty cold and callous attitude, by the way)



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If it is for the common good, shouldn't EVERYONE be required to deal with it?
See my answer above.




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The money isn't just sitting, it is invested. There is a SS trust and the money is not spent it is invested.....or snopes is wrong (spin)
You didn't read Snopes close enough (maybe that's why you didn't link to it? )

Here, I'll do it for you.

Snopes (click here)

Investigate a little further and tell us how much of the fund is "loaned back" to the US government.

So, in essence....it is used for general fund purposes.

It's not all held in a special account.......... collecting interest.





Quote:
I can designated a pile of dog pooh as peppermint but it doesn't stop being dog pooh.
And if you empty the bag of dog poo somewhere else.....you can't keep saying you have a bag of poo.


.

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
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I can be possible.
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post #10 of 18 (permalink) Old 11-11-2010, 12:59 PM Thread Starter
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Re: For those that don't know...Ida May Fuller & Social Security

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Originally Posted by AK Gandy View Post
You may see it differently, but it's not different.

It's simply another type of insurance.

You don't get all of your car insurance premiums back when you die....now do you?
Nope but I will get every penny of my 401k and IRA back....as it should be.


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Originally Posted by AK Gandy View Post


That's not true.

If you happened to work for a company that had a pension plan, and you still contributed to SS.....you could get both.

If you don't work for a company with a pension plan, maybe you should do what so many of the hardcore people say about those without health coverage........get a better job. (which I think is a pretty cold and callous attitude, by the way)
It is VERY TRUE.....you even stated above there are several special groups that are not required to pay into SS while others of us are STUCK with paying into it with no way out of it.

No matter how well I prepare for my retirement I have to pay into SS. There are groups that do not.

How is that NOT true???



Quote:
Originally Posted by AK Gandy View Post

You didn't read Snopes close enough (maybe that's why you didn't link to it? )

Here, I'll do it for you.

Snopes (click here)

Investigate a little further and tell us how much of the fund is "loaned back" to the US government.

So, in essence....it is used for general fund purposes.

It's not all held in a special account.......... collecting interest.
No it is not held in an account collecting interest, neither are most retirement accounts. It is invested....just so happens those that invest it do so in the government.

There is still an account......I bet your RailRoad retirement isn't just sitting in an account collecting interest....it is invested....no?


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Originally Posted by AK Gandy View Post

And if you empty the bag of dog poo somewhere else.....you can't keep saying you have a bag of poo.


.
Very true......I am not saying the way the money is invested in not wrong and part of the problem.....but to pay in so little and get so much is also PART of the problem.

My grandfater gets a civil service retirment, after he retired he worked just long enough to get the credits to receive SS. At 89 he has received well in excess from SS as compared to what he paid.

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