Obama's NEW SS Payments !!!

R

Raptor

Verified User
NEW SS PAYMENTS, got this from a reliable friend:

The Social Security check is now (or soon will be) referred to as
a *Federal Benefit Payment*?

This puts all we older folks in the”Food Stamp/EBT card group.”

I'll be part of the one percent to forward this. I am forwarding it
Because it touches a nerve in me, and I hope it will in you.
Please keep passing it on until everyone in our country has read it.
The government is now referring to our Social Security checks as a "Federal Benefit Payment."

This IS NOT a benefit. It is our money paid out of our Earned income!

Not only did we all contribute to Social Security but our
Employers did too. It totaled 15% of our income before taxes.
If you averaged $30K per year over your working life, that's
close to$180,000 invested in Social Security.

If you calculate the future value of your monthly invest-ment in
social Security ($375/month, including both you and your employers contributions)
At a meager 1% interest rate compounded monthly, after 40 years of working
You'd have more than $1.3+ million dollars saved!
This is your personal investment. Upon retirement, if you
took out only 3%Per year, you'd receive $39,318 per year,
or $3,277 per month.

That's almost three times more than today's average Social Security
benefit Of $1,230 per month, according to the Social Security Administration.
(Google it – it’s a fact).

And your retirement fund would last more than 33 years (until
you're 98 if You retire at age 65)! I can only imagine how
much better most Average-income people could live in
retirement if our government had just
Invested our money in low-risk interest-earning accounts.
Instead, the folks in Washington--Both Parties- pulled off a bigger
*Ponzi scheme* than Bernie Madoff ever did.

They took our money and used it elsewhere. They "forgot" (oh yes, they knew)
That it was OUR money they were taking. They didn't have a referendum to
Ask us if we wanted to lend the money to them. And they didn't pay
Interest on the debt they assumed. And recently they've told us
that the Money won't support us for very much longer.
(Isn't it funny that they NEVER say this about welfare payments?)

But is it our fault they misused our investments? And now,
to add insult To injury, they're calling it a *benefit*, as
if we never worked to earn Every penny of it.

Just because they borrowed (Read "Stole") the money doesn't mean
that our investments were a charity!

Let's take a stand. We have earned our right to Social
Security and Medicare. Demand that our legislators
bring some sense into our government.

Find a way to keep Social Security and Medicare going for the sake
of that 92% of our population who need it.

Then call it what it is: Our Earned Retirement Income.
 
Last edited:
Raptor said:
NEW SS PAYMENTS, got this from a reliable friend:
Click to expand...

So that means it's complete bullshit.

Raptor said:
The Social Security check is now (or soon will be) referred to as
a *Federal Benefit Payment*?
Click to expand...

Read and weep:

Title 42 United States Code Section 402 - Old-age and survivors insurance benefit payments

(a) Old-age insurance benefits. Every individual who—
(1) is a fully insured individual (as defined in section 414 (a) of this title),
(2) has attained age 62, and
(3) has filed application for old-age insurance benefits or was entitled to disability insurance benefits for the month preceding the month in which he attained retirement age (as defined in section 416 (l) of this title), shall be entitled to an old-age insurance benefit for each month, beginning with—



Raptor said:
I'll be part of the one percent to forward this.
Click to expand...

English Translation: I'm too fucking stupid to understand how the system works.


Raptor said:
This IS NOT a benefit.
Click to expand...

The law above clearly states it is a benefit.


Raptor said:
If you calculate the future value of your monthly invest-ment....
Click to expand...

...yada yada yada. That's a Soviet-style Red Herring.

Social Security is an insurance program. That's why it's called Old Age and Survivor's Insurance


Raptor said:
Instead, the folks in Washington--Both Parties- pulled off a bigger
*Ponzi scheme* than Bernie Madoff ever did.

They took our money and used it elsewhere. They "forgot" (oh yes, they knew)
That it was OUR money they were taking. They didn't have a referendum to
Ask us if we wanted to lend the money to them. And they didn't pay
Interest on the debt they assumed. And recently they've told us
that the Money won't support us for very much longer.
(Isn't it funny that they NEVER say this about welfare payments?)

But is it our fault they misused our investments? And now,
to add insult To injury, they're calling it a *benefit*, as
if we never worked to earn Every penny of it.

Just because they borrowed (Read "Stole") the money doesn't mean
that our investments were a charity!
Click to expand...

Some people are really ignorant.

The 1935 Social Security Act quite clearly states that any excess funds shall be converted to special treasury notes. In 1935, that was literally the 2nd [Series] Liberty Bonds. In other words the excess cash was handed over to the Treasury Secretary who issued special treasury securities in the name of the Social Security Administration and then put the cash in the General Fund. You can read that here...

TITLE II-FEDERAL OLD-AGE BENEFITS

OLD-AGE RESERVE ACCOUNT

Section 201. (a) There is hereby created an account in the Treasury of the United States to be known as the Old-Age Reserve Account hereinafter in this title called the Account. There is hereby authorized to be appropriated to the Account for each fiscal year, beginning with the fiscal year ending June 30, 1937, an amount sufficient as an annual premium to provide for the payments required under this title, such amount to be determined on a reserve basis in accordance with accepted actuarial principles, and based upon such tables of mortality as the Secretary of the Treasury shall from time to time adopt, and upon an interest rate of 3 per centum per annum compounded annually. The Secretary of the Treasury shall submit annually to the Bureau of the Budget an estimate of the appropriations to be made to the Account.

(b) It shall be the duty of the Secretary of the Treasury to invest such portion of the amounts credited to the Account as is not, in his judgment, required to meet current withdrawals. Such investment may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. For such purpose such obligations may be acquired
(1) on original issue at par, or
(2) by purchase of outstanding obligations at the market price. The purposes for which obligations of the United States may be issued under the Second Liberty Bond Act, as amended, are hereby extended to authorize the issuance at par of special obligations exclusively to the Account. Such special obligations shall bear interest at the rate of 3 per centum per annum. Obligations other than such special obligations may be acquired for the Account only on such terms as to provide an investment yield of not less than 3 per centum per annum.

(c) Any obligations acquired by the Account (except special obligations issued exclusively to the Account) may be sold at the market price, and such special obligations may be redeemed at par plus accrued interest.

(d) The interest on, and the proceeds from the sale or redemption of, any obligations held in the Account shall be credited to and form a part of the Account.

(e) All amounts credited to the Account shall be available for making payments required under this title.

(f) The Secretary of the Treasury shall include in his annual report the actuarial status of the Account.

Source: Social Security History


Now, go forth and spew no more propaganda and disinformation and stop with the silly chain e-mails. Grow up.
 
Raptor is the finest conservative poster on JPP, IMO. I feel very close to him. I'm sure he posted in good faith.
 
Mircea said:
So that means it's complete bullshit.



Read and weep:

Title 42 United States Code Section 402 - Old-age and survivors insurance benefit payments

(a) Old-age insurance benefits. Every individual who—
(1) is a fully insured individual (as defined in section 414 (a) of this title),
(2) has attained age 62, and
(3) has filed application for old-age insurance benefits or was entitled to disability insurance benefits for the month preceding the month in which he attained retirement age (as defined in section 416 (l) of this title), shall be entitled to an old-age insurance benefit for each month, beginning with—





English Translation: I'm too fucking stupid to understand how the system works.




The law above clearly states it is a benefit.




...yada yada yada. That's a Soviet-style Red Herring.

Social Security is an insurance program. That's why it's called Old Age and Survivor's Insurance




Some people are really ignorant.

The 1935 Social Security Act quite clearly states that any excess funds shall be converted to special treasury notes. In 1935, that was literally the 2nd [Series] Liberty Bonds. In other words the excess cash was handed over to the Treasury Secretary who issued special treasury securities in the name of the Social Security Administration and then put the cash in the General Fund. You can read that here...

TITLE II-FEDERAL OLD-AGE BENEFITS

OLD-AGE RESERVE ACCOUNT

Section 201. (a) There is hereby created an account in the Treasury of the United States to be known as the Old-Age Reserve Account hereinafter in this title called the Account. There is hereby authorized to be appropriated to the Account for each fiscal year, beginning with the fiscal year ending June 30, 1937, an amount sufficient as an annual premium to provide for the payments required under this title, such amount to be determined on a reserve basis in accordance with accepted actuarial principles, and based upon such tables of mortality as the Secretary of the Treasury shall from time to time adopt, and upon an interest rate of 3 per centum per annum compounded annually. The Secretary of the Treasury shall submit annually to the Bureau of the Budget an estimate of the appropriations to be made to the Account.

(b) It shall be the duty of the Secretary of the Treasury to invest such portion of the amounts credited to the Account as is not, in his judgment, required to meet current withdrawals. Such investment may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. For such purpose such obligations may be acquired
(1) on original issue at par, or
(2) by purchase of outstanding obligations at the market price. The purposes for which obligations of the United States may be issued under the Second Liberty Bond Act, as amended, are hereby extended to authorize the issuance at par of special obligations exclusively to the Account. Such special obligations shall bear interest at the rate of 3 per centum per annum. Obligations other than such special obligations may be acquired for the Account only on such terms as to provide an investment yield of not less than 3 per centum per annum.

(c) Any obligations acquired by the Account (except special obligations issued exclusively to the Account) may be sold at the market price, and such special obligations may be redeemed at par plus accrued interest.

(d) The interest on, and the proceeds from the sale or redemption of, any obligations held in the Account shall be credited to and form a part of the Account.

(e) All amounts credited to the Account shall be available for making payments required under this title.

(f) The Secretary of the Treasury shall include in his annual report the actuarial status of the Account.

Source: Social Security History


Now, go forth and spew no more propaganda and disinformation and stop with the silly chain e-mails. Grow up.
Click to expand...

Mircea, you are an OBVIOUS Obumerrhoid stooge who has a TWENTY YEAR TENURE in Jeremiah "GODDAMN AMERICA" Wright's Cathedral of Hate. No wonder the Obumerrhoid would indulge in this SS scam and you supporting his ridiculous crap. This being an example of Obumsky's character such as visiting his Commie/Muslim cousin Raila Odinga, (prior to his Presidential Campaign) known in Africa as the "African Stalin" which rallies in Kenya Obumsky attended, arm in arm smiling, as Raila's organization The "Orange Democratic Party of Kenya" slaughtered ~ a thousand fellow Kenyans, including women and children in an "ethnic -cleansing" operation according to our then State Dept. This Obumerrhoid's visit also included the all-Commie/Muslim family gathering which was photo-oped with Obumsky sporting the African garb, with the turban five times the size of his pointy head and had a world-wide distribution later.
 
You tell him, Raptor!

It's disgusting when people like Mircea attack a veteran.

I salute you for your service!

Maybe Mircea needs to remember who defended the freedom of speech he abuses.
 
You and I never invested anything. FDR said you would but just like BO that was not the law that was enacted.

And if you didn't like that you really won't like that they don't have to pay you.

It was, as was pointed out, a benefit paid for with a not optional tax. They were required by law to take any surplus and buy special tbill's the money then falls directly into the general fund to be squandered on whatever the congress critters felt like.

Feel better now ?
 
Legion Troll said:
I forgive you for being too stupid to realize that what you said was stupid and was said stupidly.
Click to expand...

Interesting how when you start on a manner of saying things, Leon does the same thing. Still deny you're the same asshole? Liar.

Nothing I said was stupid or said stupidly.
 
You must log in or register to reply here.
Back
Top