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Thread: Social security, a landmark liberal achievement

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    Quote Originally Posted by Flash View Post
    Because they paid in the same amount. If they didn't, they don't get the same check. It is not a means tested welfare program although most receive more in benefits than they paid into the system.

    But, if we don't make some changes soon it will be able to pay only 70% of benefits.
    Easy to solve. Increase revenue. Take the cap off.
    Last edited by Damocles; 03-28-2023 at 06:15 PM. Reason: fix quote box

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    Quote Originally Posted by ThatOwlWoman View Post
    Republicans try to appeal to younger voters by painting SS and Medicare as "entitlements" that were not earned, but given to them by currently-employed workers. There is just enough truth in that to appeal to the stupider ones.

    The problem with turning SS into a 401(k) type scheme is the vagaries of the markets. What happens if the markets -- and all that money the government invested for you -- are down at the time you decide to retire? Either you accept less pay-out, or you continue working. The current scheme has concrete payouts which allows employees more freedom in deciding when to hang it up. There is no risk-taking. And you don't end up having to move in with one of your kids.

    \
    Social Security and Medicare are labeled "Entitlements" by the government. That is a budgetary term meaning everybody who qualifies receives the benefit and they are not limited by government appropriations. Congress does not appropriate X number of dollars for SS each year as they do for defense, education, etc.

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    Quote Originally Posted by Nordberg View Post
    Easy to solve. Increase revenue. Take the cap off.
    "easy solution - fuck over a smaller percent of the population so we can get it approved"

    modern day liberalism in a nutshell

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    Quote Originally Posted by ThatOwlWoman View Post
    This tells us right off why the Repukes are so interested in abolishing the plans. Employers would LOVE it, and pocket all that extra cash.
    Isn't that also true if government provided health care? Employers would no longer be paying all those healthcare costs.

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    Quote Originally Posted by Nordberg View Post
    Quote Originally Posted by Flash View Post
    Because they paid in the same amount. If they didn't, they don't get the same check. It is not a means tested welfare program although most receive more in benefits than they paid into the system.

    But, if we don't make some changes soon it will be able to pay only 70% of benefits.
    Easy to solve. Increase revenue. Take the cap off.
    Most of the increased revenue will go to increased benefits.
    Last edited by Damocles; 03-28-2023 at 06:16 PM. Reason: more fix quote box

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    Quote Originally Posted by Cypress View Post
    Lifetime-benefit, starting at age 62:

    Retire @ 62 - $2,102/month
    Retire @ 65 - $2,683/month
    Retire @ 67 - $3,161/month
    Retire @ 70 - $4,022/month
    Average monthly benefit for retired workers: $1,830 (SSA)

    https://www.ssa.gov/policy/docs/quic...stat_snapshot/

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    Quote Originally Posted by zymurgy View Post
    "easy solution - fuck over a smaller percent of the population so we can get it approved"

    modern day liberalism in a nutshell
    Fuck over? They have been underpaying for decades.
    You have a typical right-wing attitude. poor poor pitiful me.

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    Quote Originally Posted by Flash View Post
    Average monthly benefit for retired workers: $1,830 (SSA)

    https://www.ssa.gov/policy/docs/quic...stat_snapshot/
    The numbers I posted are SSA's estimates for my benefits based on my work history. I paid more in FICA taxes during my work history than average.

    I suspect a substantial number of people elect to collect SS benefits earlier, forgoing the full benefits they could have had if they waited. The nice thing about it is that it's like a pension with a lifetime benefit.

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    Quote Originally Posted by Nordberg View Post
    Fuck over? They have been underpaying for decades.
    You have a typical right-wing attitude. poor poor pitiful me.
    underpaying? LMAO

    you have an entitlement mentality - you clearly think they have something that belong to you

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    Quote Originally Posted by zymurgy View Post
    underpaying? LMAO

    you have an entitlement mentality - you clearly think they have something that belong to you
    Are you retired??? What about your Parents???? Just think someday you will be retired, if not already and you will benefit from SS.
    Lock Him Up

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    Quote Originally Posted by Trumpet View Post
    Are you retired??? What about your Parents???? Just think someday you will be retired, if not already and you will benefit from SS.
    by benefit you mean I will get back some of what I contributed. The chances of me living long enough to actually benefit is pretty laughable - you must be one of those dolts that are not aware that for this type of scheme, some benefit, but not all can.

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    Hello ThatOwlWoman,

    Quote Originally Posted by ThatOwlWoman View Post
    Employees have 7.65% deducted for SS and Medicare each paycheck. Their employers pay another 7.65% into the system for each employee. This tells us right off why the Repukes are so interested in abolishing the plans. Employers would LOVE it, and pocket all that extra cash.

    The whiners who are currently working and feeling resentful about those deductions might stop to consider how much less money they would be taking home if they had to pay the entire 15.3% themselves, in addition to whatever 401(k) or IRA plan they have.
    That is a very good point; one rarely heard, yet extremely in favor of keeping SS. No wonder greedy corporations, particularly those with a lot of low paid workers, would like to see SS scrapped. Reduce labor cost by 7.65%? Oh, yeah, they want that.
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    Quote Originally Posted by Cypress View Post
    Either you or her lawyers are doing something wrong.

    If she has her own work history, paid into the SSDI insurance program, and has a qualifying disability, your income shouldn't matter.
    You are correct. Disability benefits are based on the worker's individual income history, not family income.
    "Conservatism is the blind and fear-filled worship of dead radicals." -- Mark Twain

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    Quote Originally Posted by PoliTalker View Post
    Hello ThatOwlWoman,



    That is a very good point; one rarely heard, yet extremely in favor of keeping SS. No wonder greedy corporations, particularly those with a lot of low paid workers, would like to see SS scrapped. Reduce labor cost by 7.65%? Oh, yeah, they want that.
    IMO that is the real impetus to get rid of SS. Who donates the most to (R) candidates?
    "Conservatism is the blind and fear-filled worship of dead radicals." -- Mark Twain

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    Quote Originally Posted by Cypress View Post
    Your word can't be trusted.

    Provide a link to a reputable mainstream news source

    Your total SS benefit is calculated based on your wage income
    maximum benefits......
    Views: 272899
    The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2023, your maximum benefit would be $3,627. However, if you retire at age 62 in 2023, your maximum benefit would be $2,572. If you retire at age 70 in 2023, your maximum benefit would be $4,555.
    https://www.ssa.gov/oalct/cola/SSI.htm
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