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Passions in Poetry

Social Security

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LeeJ
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since 06-19-2003
Posts 13093
SE PA


0 posted 02-03-2005 07:32 AM       View Profile for LeeJ   Edit/Delete Message      Find Poems  View IP for LeeJ

I know this was discussed in another forum..but was wondering...

I don't understand?

I thought ever since I was a kid and working I was paying into social security for retirement?

Also....what do they mean...social security funds will run out...

I was always under the assumption, if you worked, the funds were taken from your paycheck from the beginning?  If people work there are funds there, and if not, what happened to all that money they have been extracting from our pay all these years?


Catrina
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since 11-10-2004
Posts 131


1 posted 02-03-2005 08:33 AM       View Profile for Catrina   Email Catrina   Edit/Delete Message      Find Poems  View IP for Catrina

With government dibbling and dabbling in the "unlocked box", and so many older people living longer, with less putting into the system, or as was related last night during the President's SOTUS, there simply will be no funds.  I am 100% behind mandatory personal retirement funds.
LeeJ
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since 06-19-2003
Posts 13093
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2 posted 02-03-2005 08:57 AM       View Profile for LeeJ   Edit/Delete Message      Find Poems  View IP for LeeJ

yes, perhaps...but...those funds then, better not be controlled by the government, if they can't keep their hands out of our retirement funds (social security) How awful!  How Sad, how unthinking...how can they sleep at night????????  How Dare they touch that fund!!!!!!!  Those snakes!!!  And what kind of retirement do they get for the rest of their lives...on whose account?

whew, standing up, staightening off my skirt, and thinking...feeling much better now...think I need a drink...coffee of course
Break Time!
Catrina
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since 11-10-2004
Posts 131


3 posted 02-03-2005 09:06 AM       View Profile for Catrina   Email Catrina   Edit/Delete Message      Find Poems  View IP for Catrina

I've heard both sides of the coin on the "do it yourself" retirement fund issue when it comes to personal accounts.  Dems seem to think that the banks will enlarge their accounts [possibly] and the "risk" of people investing their own funds is "too risky" [wrong, with enough governmentally funded self-help booklets out there for free, most people are smart enough to take care of their own funds] and it's high time that people should be accountable for their own retirement.  Other governmentally run retirement funds have been subject to huge let-downs in mismangement...

let the people take back their own planning.

For those who don't plan?  Well, there's always been that, as well.  Always, no matter whether or not social security was there.  I think it boils down to the simple solution of "the strong shall survive."
LeeJ
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since 06-19-2003
Posts 13093
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4 posted 02-03-2005 09:29 AM       View Profile for LeeJ   Edit/Delete Message      Find Poems  View IP for LeeJ

yes, you are absolutely right, but...in the same...using those funds, well simply whose going to hold them accountable?  Last time I looked wasn't that called stealing????

Thanks for educating me though...
Alicat
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since 05-23-99
Posts 4277
Coastal Texas


5 posted 02-03-2005 12:07 PM       View Profile for Alicat   Email Alicat   Edit/Delete Message      Find Poems  View IP for Alicat

I forget which President during the 50's or 60's changed the status of the Social Security Fund to General Fund, but they did.  The General Fund is the honey pot which pay for so many programs, some useful, others not.  President Clinton's claim to fame was balancing the budget.  When he did that, shortly after there was an enormous turnover in the House and Senate.  Seems that someone saw that huge General Fund, didn't investigate too much, and nabbed it for budget balancing.  When the AARP discovered the raid, they were livid, and proved to be the powerful voting block which is still feared.

It used to be 'pay as you go'.  They monies you put in were earmarked for you.  Now, it's pay for others.  Boomers pay for Depression/Twenties.  Xers pay for Boomers and Depression/Twenties.  Xers, Boomer's kids, and Xer kids pay for Xers, Boomers, and the remaining Depression/Twenties.  Boomers are aptly named, since I think their last census data placed them around 80 million (40-60).  I think Depression/Twenties is around 48 million (60 and older), Xers around 61 million (25-39) and the rest being 101 million (0-24).  These figures were taken from the 2003 Estimates (pdf version)

It could very well be that Social Security could right itself in time, especially if Congress leaves it alone and turns it back into a Special Fund.  Since I doubt they'll be able to keep their hands from the till, I still favor personal accounts.  If nothing else, it would add an extra measure of security for those unable to buy into IRA or other retirement options by using up to 4% of their payroll taxes, and can will the balance to their own kids or grandkids or cat.

Keep in mind, it wasn't 'just because' that the Democrats lost control of both the House and Senate for the first time in over 40 years back in 1996.
Capricious
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since 09-14-2002
Posts 89
California, USA


6 posted 02-03-2005 03:09 PM       View Profile for Capricious   Email Capricious   Edit/Delete Message      Find Poems  View IP for Capricious

quote:
Keep in mind, it wasn't 'just because' that the Democrats lost control of both the House and Senate for the first time in over 40 years back in 1996.


'Course not.  It was an elaborate 'Pubbie conspiracy!!  

I like the idea of privatization for myself, but others in my family would have no idea what to do with retirement monies if the responsibility was theirs.  I suspect the success of this program will rest upon the securities, if any, inherent to the system.  With so many scam artists out there, and so many relatively unsafe, if legitimate, investments available, I see a lot of people just as penniless in their declining years under this program as if we let the current system go into its death throes.  Perhaps even more.

It'll just end up as an additional burden to the already overtaxed welfare system in any case.
Paul Wilson
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since 07-07-2002
Posts 4023
Between Fantasy and Reality


7 posted 02-04-2005 02:17 AM       View Profile for Paul Wilson   Email Paul Wilson   Edit/Delete Message      Find Poems  View IP for Paul Wilson

The way I see it all of the money in the social security fund belongs to the people that paid it in over their lifetime, this money does not belong to the government and never has so what gives them the right to spend it as they see fit while we are left holding the short end of the stick.

I feel that this is theft of our money by the government and we have no say so in the matter. What kind of government steals from it's citizens???

I would like too see the federal government stop taking social security taxes out of our pay checks and leave the choice of retirement too us.
They should be forced to give any money in the social security fund too the person it belongs too and do away with it all together.

This program is just another cash cow for the federal government...Paul

~~To share my poems with you is to share my heart with you~~
Paul
LeeJ
Member Patricius
since 06-19-2003
Posts 13093
SE PA


8 posted 02-04-2005 06:34 AM       View Profile for LeeJ   Edit/Delete Message      Find Poems  View IP for LeeJ

Amen Paul...that is the way I feel...but also feel that each individual should invest they're own ways in retirement...I cannot believe the people of this country are sitting back and saying nothing about what is going on...yes, I agree, it is most certainly theft, and in my book would be delivered as a federal crime...all those who have been tapping this fund, should be held accountable...and our present Administration is acting like there is nothing wrong with whats been done...How dare they!  Especially with THEIR pensions, that WE pay for...how dare they sit and wallow in that constitution...for the people by the people and make a mockery of it.  This is absolute case of greed and self gratification...we've placed them in office to work for us?????

God help the next generation to help themselves and stand up to be counted...
 
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