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post #1 of 27 (permalink) Old 01-19-2011, 06:47 PM Thread Starter
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Social Security changes in 2011

There are more but this pretty well sums it up for me. It's not going away, it's going to be more of a burden to everybody...everybody that pays taxes anyways...

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The Social Security system's finances are not expected to be harmed because the trust fund will be reimbursed for the full amount of the tax break from the general fund of the Treasury. However, this change also means that the Social Security trust fund will no longer be completely funded directly by citizen contributions. "This pretty much ends the claim that Social Security is self-financing or that it doesn't contribute to the budget deficit," says Andrew Biggs, a resident scholar at the American Enterprise Institute and a former deputy commissioner of the Social Security Administration.
Social Security changes for 2011

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post #2 of 27 (permalink) Old 01-19-2011, 06:57 PM
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Re: Social Security changes in 2011

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Social Security trust fund will no longer be completely funded directly by citizen contributions
SS is not solely funded by citizen contributions.....companies pay in as well.

I am very happy to have the 2% going into my 401k as compared to "my" SS account. I feel much more comfortable thinking I will see something in return as compared to paying into a broken system.

Ida May Fuller, the first person to receive a SS check. It was in the ammount of $22.54...She only payed in $24.75. Over her life time she collected $22,888.92

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post #3 of 27 (permalink) Old 01-19-2011, 10:12 PM
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Re: Social Security changes in 2011

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Originally Posted by PsRumors View Post
Ida May Fuller, the first person to receive a SS check. It was in the ammount of $22.54...She only payed in $24.75. Over her life time she collected $22,888.92
And what about the millions of people who contributed to SS through most of their lives, and never collected a single penny back?

Furthermore, you failed to mention the details of Ida May Fuller. She retired in November 1939 at the age of 65 years old, and lived to be 100 years old. She started collecting Social Security in 1940, and paid into SS for 3 years. That 3 years also happens to be the same amount of time that Social Security started collecting payroll taxes (began in 1937). So in reality, Fuller paid all 3 years that she was eligible to pay into SS, retired at the usual age of 65, and just so happened to live well beyond the expected life span that was average back then (she lived to be 100 years old). In case anyone was wondering, the average life span for a woman in 1940 was 65.2 years.

Yet this isn't the first time you've used Ida May Fuller as some sort of "example". Problem is, you continue to leave out the important details in an effort to insert bias and skew the facts. Face it, it's just like insurance. Some people collect from insurance more than what they put in, some people collect less. The same goes for Social Security. Some people live much longer than expected, and collect over their lifetime more than what they put in. Others pay into SS for most of their career, then die before retiring and never collect a single penny from SS.

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post #4 of 27 (permalink) Old 01-19-2011, 10:34 PM
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Re: Social Security changes in 2011

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And what about the millions of people who contributed to SS through most of their lives, and never collected a single penny back?
True.. Here is the problem, (at least in my state and many more I'm sure).. There are way too many people that have worked a few years and collect SSDI for the rest of there lives because they have become "disabled" and are able to make $900.00 per month without it affecting there SSDI payment.. Most of these people also qualify for food stamps, Medicare buyin, heat assistance among other benifits that working people can not qualify for.. There are also LOTS of people that never paid income taxes and collect SSI for life.. I'm not saying there are not people who need the help but, it's getting out of hand IMO.. Doctor's are partly to blame...

Also the people on SSI have never worked a day in there life and have the best healthcare for FREE.. The people that have worked and paid into the system all there lives receive Medicare and frankly, Medicare sucks.. It costs $110.50 per month, no precription drug coverage unless you pay $40-$80 extra each month, no dental coverage.. The Advantage plans also suck..

SSDI, SSI and Medicare are all fuked up, period..
post #5 of 27 (permalink) Old 01-19-2011, 10:55 PM
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Re: Social Security changes in 2011

My wife, who disposed of me, is entitled to the same amount of ss that I get when we retire. Even though she spent the majority of her self employed career underreporting her income, because she lasted 10 years with me, she gets the same as me. I was dating a woman who was receiving a small amount of child support from the deadbeat. He got a crazy disability from ss, and the next thing you know, she starts getting checks from ss for 900 a month. The country is loaded with "disabled" people who certainly could contribute and work like the rest of us.
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post #6 of 27 (permalink) Old 01-19-2011, 10:58 PM
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Re: Social Security changes in 2011

[QUOTE=eleventhtruck;1328465]My wife, who disposed of me, is entitled to the same amount of ss that I get when we retire. Even though she spent the majority of her self employed career underreporting her income, because she lasted 10 years with me, she gets the same as me. I was dating a woman who was receiving a small amount of child support from the deadbeat. He got a crazy disability from ss, and the next thing you know, she starts getting checks from ss for 900 a month. The country is loaded with "disabled" people who certainly could contribute and work like the rest of us.[/QUOTE]

That's a fact..
post #7 of 27 (permalink) Old 01-19-2011, 10:58 PM
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Re: Social Security changes in 2011

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Originally Posted by atsah View Post
True.. Here is the problem, (at least in my state and many more I'm sure).. There are way too many people that have worked a few years and collect SSDI for the rest of there lives because they have become "disabled" and are able to make $900.00 per month without it affecting there SSDI payment.. Most of these people also qualify for food stamps, Medicare buyin, heat assistance among other benifits that working people can not qualify for.. There are also LOTS of people that never paid income taxes and collect SSI for life.. I'm not saying there are not people who need the help but, it's getting out of hand IMO.. Doctor's are partly to blame...

Also the people on SSI have never worked a day in there life and have the best healthcare for FREE.. The people that have worked and paid into the system all there lives receive Medicare and frankly, Medicare sucks.. It costs $110.50 per month, no precription drug coverage unless you pay $40-$80 extra each month, no dental coverage.. The Advantage plans also suck..

SSDI, SSI and Medicare are all fuked up, period..
I don't disagree at all.

And I don't really disagree with PsRumors. It's just he's using the same example he's tried to pawn off before. Find a better argument.

It's not the idea of SS that's bad, it's how it's implemented that's the problem. The idea that people pay into something that sometime in the future they will collect on to mitigate some sort of risk (financial risk in this scenario) is the exact same way insurance works. The implementation of how it's handled by our government, how it can be exploited, how it's wasteful, etc.... that's the part that drags it down.

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post #8 of 27 (permalink) Old 01-19-2011, 10:59 PM
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Re: Social Security changes in 2011

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I don't disagree at all.

And I don't really disagree with PsRumors. It's just he's using the same example he's tried to pawn off before. Find a better argument.

It's not the idea of SS that's bad, it's how it's implemented that's the problem. The idea that people pay into something that sometime in the future they will collect on to mitigate some sort of risk (financial risk in this scenario) is the exact same way insurance works. The implementation of how it's handled by our government, how it can be exploited, how it's wasteful, etc.... that's the part that drags it down.

Agreed...
post #9 of 27 (permalink) Old 01-19-2011, 11:28 PM
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Re: Social Security changes in 2011

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Originally Posted by Pocket View Post
I don't disagree at all.

And I don't really disagree with PsRumors. It's just he's using the same example he's tried to pawn off before. Find a better argument.

It's not the idea of SS that's bad, it's how it's implemented that's the problem. The idea that people pay into something that sometime in the future they will collect on to mitigate some sort of risk (financial risk in this scenario) is the exact same way insurance works. The implementation of how it's handled by our government, how it can be exploited, how it's wasteful, etc.... that's the part that drags it down.
But I thought Al Gore had the key's to some " lock box"?

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post #10 of 27 (permalink) Old 01-20-2011, 12:13 AM
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Re: Social Security changes in 2011

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Originally Posted by Pocket View Post
I don't disagree at all.

And I don't really disagree with PsRumors. It's just he's using the same example he's tried to pawn off before. Find a better argument.

It's not the idea of SS that's bad, it's how it's implemented that's the problem. The idea that people pay into something that sometime in the future they will collect on to mitigate some sort of risk (financial risk in this scenario) is the exact same way insurance works. The implementation of how it's handled by our government, how it can be exploited, how it's wasteful, etc.... that's the part that drags it down.
I am with you on that. I think it is a wonderful program. I get the feeling that they have the numbers all figured out for the average man that works physically does not seem to live much into his retirement before passing. I will also be more than a little pissed if I am forced to contribute my entire working life and get told that they are too broke to give me any help when I need it.
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