The Social Security Hoax

If you're defining "Ponzi Scheme" as a program that pays out more than it takes in I agree with that. In years past wages were so low that SS witholding far exceeds the income it currently pays out. I'm not disagreeing with most of what you have written but here are a few pertinent facts of my own;

 My father-in-law entered the work force when he returned from WWII and over the next 45 years he paid in a total of (approx) 100,000.

He retired in 1990 and at 1,500 per month he's now drawn 342,000. He's 82 now and healthy as a horse. So for every year he lives add an additional 18,000 to his pile.

His brother passed away earlier this year at age 94 so if he (my father-in-law) lives another 12 years, that's 30 years at 18,000 per year or 540,000 total.

Tony, you don't have to be a math whiz or an economics major to understand that the SS fund needs to be beefed up and some of the items you've mentioned have been done to accomplish that. So the answer to this whole "Ponzi Scheme" is to tax the current work force at the rate at which they are expected to draw it out when they retire. I seriously doubt it!

As far as the general fund is concerned, so what. The day the US government defaults on SS because there's no money to pay will be the last day this democracy exists in the form it is now.

When you were reciting your "Roosevelt facts" you left out one very important item; SS was never intended to be retirement income, it was intended as a supplement to retirees. Folks who weren't around in 1936 don't understand this and complain that SS benefits should be higher. There is no way SS won't continue to exist without increased contributions and taxes and those are just the facts.

You got your wish, point by point;

"Most of the people you are referring to only paid the 1% into the system" exactly and with the annual COL SS is running a deficit and requires additional funding.

"If your father-in-law had just put that money into regular treasury bonds at 5%" he was a WWII vet from Tennesee and had a family to support, not to mention the fact that he didn't have the benefit of your 50 year 20-20 hindsight.

"The biggest part of the fraud is that you have absolutely no equity" are you defining fraud as cheating, trickery or a deliberate decption to secure unlawful gain? I understand you don't like or agree with the system but that's a little hysterical don't you think!

"..If your father-in-law died at age 64 the government gets to keep his life savings" that's correct but you are the only person I've ever heard refer to SS witholding as "life savings".

"...Even the people who work for The Social Security Administartion don't want it and don't pay into it" most pay into FERS which has theee parts, one of which is SSI.

"...I can't imagine why you would defend a fraud" calling SSI a fraud is ... well, you know.

"...Most Liberals(I don't know if you are one)think the same way you do" I'm registered Republican, consider myself moderate and don't pretend to know how "most liberals" think...

"None of the Government workers pay Social Security" government employees pay into FERS..they have their own private retirement accounts and YES THEY HAVE EQUITY in theirs;" I agree that two parts of FERS have equity but with the stock market in decline over the past few years some don't have a lot to show for it while those on SSI are unaffected by this.

"...So show me where SS is so great?????" Just try not sending SSI checks next month and I'll show you how great the consequences are. Some people actually need the money and feel they are entitled to it.

"I am a small business man and I have to pay 15.2% into "my SS and I will net only 1,700.00 a month when I retire...After paying for over 50 years as well,I could have retired a millionaire by investing the money the same way I suggested for your father-in-law" are you telling me that with your 50 year hindsight advantage on the old guy you're not doing what you're suggesting he could have/should have done??????????

"...Of course your father-in-law should love SS for he paid the least into it" you're short sighted, when he was making 2,500 a year, he was also buying a house, a car, food, insurance, clothes and raising 2 kids. That small percentage, which is nothing to you, was big bucks to him. Damn right, he struggled to pay into it, and feels as if he's entitled to what he draws out.

".....I would be interested in your response" OK, hope I didn't disappoint you....

"Do you work for the government????" from 1989 thru 1999.

We all have a right to our own opinion. All of us are never right, nor ever wrong. it's the same old song, if one is a young Tarzan/Soldier, one can become disabled in combat in a few seconds, quartered in war. if a Veteran returns home with an angel on his shoulder, no shoes, one leg, no legs, one arm, no arms. little, or  no minds! Fanklin D. Roosevelt, President in a Wheel/Chair, came to their aid with SOCIAL SECURITY, MEDICARE, AND GODS HELP. IT ISN'T A SOCIALIST COUNTRY TO HELP IT'S DISABLED, SICK AND AGED TAX/PAYERS AFTER THE BATTLES ARE WON. IT'S CALLED HUMAN, HUMANITY, CARING FOR OTHERS, REWARDING OURSELVES FOR BEING HUMAN> THIS OLD DISABLED VETERAN IS CONCERNED TOO, WHEN OTHERS FEATHER THEIR OWN NESTS, AND USE OUR FEATHERS! -- BING/BANG.

You're not in any contest man because in order to have a contest there has to be 2 people open minded enough to discuss an issue and see each others point. You have progressed from calling SS a "Ponzi scheme and fraud to complaining about Pelosi, foreign aid and illeagle ailens and in every future post you'll expand your list until you've covered everything. It's obvious that you are a chronoic complainer so dissatisfied with every aspect of American life (and I'm not saying it's perfect) that nothing will satisfy you.

No matter how much money you put into SS you'll draw 1,700 for life after retirement. If you live until 66 or 100 and that's not bad in the estimation of most people. I'm not saying it couldn't be improved but in the process you'd throw the baby out with the bath water.

If I were king for a day I would refund every penny you paid into SS, and exempt you and from receipt of any benefits and tell you to have at it. Go invest any amount you want in those bonds and retire when you please. I'm sure you'll have sufficient funds to carry you thru and also take care of your wife, in the event of your untimely demise. How's that work for you.