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Fourth echelon

Social INsecurity — How to Phase Out the Fundamentally Flawed System

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Friday, August 14, marks the 80th anniversary of Franklin Roosevelt’s signing of the Social Security Act of 1935 into law. But is this landmark anniversary a cause for celebration? After all, the octogenarian government agency appears to be in worse financial condition than the octogenarian retirees it was supposedly designed to help.

Among the many broken promises of Social Security is Section 203 of the 1935 bill:

If any individual dies before attaining the age of sixty-five, there shall be paid to his estate an amount equal to 3 per centum of the total wages determined by the Board to have been paid to him, with respect to employment after December 31, 1936.

The Payments Upon Death section is not the only part of Social Security to be thrown under the bus. For instance, old-age pensioners have been repeatedly thrown under the bus via benefits rationing. Myra Adams, writing for National Review online on July 30, noted an asterisk on her recent Social Security statement:

Your estimated benefits are based on current law. Congress has made changes to the law in the past and can do so at any time. The law governing benefit amounts may change because, by 2033, the payroll taxes collected will be enough to pay only about 77 percent of scheduled benefits.

Adams then referred to the asterisk on her statement from 2009 and compared the explanations:

Your estimated benefits are based on current law. Congress has made changes to the law in the past and can do so at any time. The law governing benefit amounts may change because, by 2041, the payroll taxes collected will be enough to pay only about 78 percent of scheduled benefits.

Adams was rightfully concerned. The asterisks not only mentioned the possibility of further benefits rationing, but in the six years since 2009, the benefits rationing prognosis became one percent worse with a projected arrival eight years earlier. In addition to the disturbing trend, it raises questions as to the reliability of the forecasts when two forecasts only six years apart are so far from each other.

http://www.thenewamerican.com/usnews/politics/item/21401-social-insecurity-how-to-phase-out-the-fundamentally-flawed-system

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http://www.globalmotorbikes.com/forums/images/smilies/old%20man%20mooning.gif Don't even get me going on this Social Security subject . I paid into it for more than 35+ years . It's mine and I want it all back before I kick that bucket .

In this town I know a bunch on SSI and SSD . This has a way to just get my dandruff up knowing that many of them are able to still work but don't I see these handy caped Social Security suckers everyday driving nice cars and trucks and mowing lawns and repairing houses and what have ya and then there are those that don't do nothing but drink beer and sit around at the park complaining about how bad life is . One guy I talked to boasted his income was over 60,000 last year tax free while mowing commercial lawns and collecting Social Security disability for a bad back . Bad back my ass he is on a bumpy riding lawn mower ?? . I should turn him in ! But I wont because 1 I am not a snitch and 2 he would have hell to pay and most likely lose the ability to make house payments and care for his 2nd wife's 2 kids .  I have to just shake my head and walk away .....

10,800 per year = free medical and food stamps on SSD , 2400 per year from food stamps alone

60.000 mowing commercial lawns ?  I could live good on that !

A grand grand total of 70.800 per year tax free plus medical . http://www.sherv.net/cm/emo/angry/angry-old-man-smiley-emoticon.gifNo wonder I am grumpy and have a bad taste for government .....

 

 

 

 

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