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Share your fears about Social Security
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Social Security
Share your fears about Social Security
<font face="arial, helvetica, sans-serif" size="1"><div>You worked hard for it. Now talk to others on how to save Social Security.</div></font>
1) In the article, Social Security Fears , many Social Security myths are addressed. What concerns you the most about Social Security?
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Cat:7a9899c6-bb01-48a5-bd56-e73d9d7e3998Forum:17f83b76-a805-4002-b497-6dbb421b0b8a
Cat:7a9899c6-bb01-48a5-bd56-e73d9d7e3998Forum:17f83b76-a805-4002-b497-6dbb421b0b8aDiscussion:b04dcee8-e9c2-4e17-ac46-1f518c16ac6b
Forums » Work & Retirement » Social Security » Share your fears about Social Security
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Re: Share your fears about Social Security
posted at October 20, 2012 10:45 AM EDT
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Posts: 1
First: October 20, 2012 Last: October 20, 2012 |
Early and worsening example of U.S. slide into socialism. Social Security could be OK as just emergency help during severities such as Great Depression (1929-39), but should NOT stay nor expand as has or seems trend. 10th amendment to U.S. Constitution intended to limit federal powers, but governments have wrongfully violated it with mandates such as Social Security & various socialist agendas. As a republic, our elected officials should better represent majority, while appropriately protecting rights of minorities, and keeping best interest of nation priority. If public wants government to serve people in ways which will bankrupt nation or morally degrade values, officials have duties to balance brief desirable benefits vs. long term interest of our future generations and our collective country's ethics. Social Security is pyramid type program, which fails if small percentage supports more vast population; and trend seems sliding deeper into inadequately solvent finances (unreasonable national debt when not warranted). |
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Re: Share your fears about Social Security
posted at October 20, 2012 2:04 PM EDT
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Posts: 2
First: October 20, 2012 Last: October 20, 2012 |
As a now disabled RN with a certificate in Applied Gerontology I am familiar with the fiscal challenges facing Social Security. I am also familiar with several very simple policy changes, such as eliminating the FICA tax income cap, that would immediately place this remarkable program on a sound fiscal footing. Period. The present cap ensures that FICA taxes are the most regressive in the Federal system. Compare the effective FICA tax rate between someone earning less than $40,000 per year (7.5%) and someone earning $400,000 per year (7.5% on the first $110,000 -- then none)! It simply requires the political will, and perhaps a very little courage in Washington to do this. However, I am most concerned that programs such as Social Security, Medicare, and Medicaid are consistently referred to (especially on the far Right) as "entitlements." They are most certainly NOT entitlements. These programs represent essential elements of our social compact with one another. Referring to these programs as "entitlements" is a political ploy, one which tends to diminsh their importance in our social fabric. Social Security began as a minimal income for older person who had worked and contributed to our society over their lifetimes. It has grown to include a number of other very important income supports: for survivors, dependents, the disabled, and impoverished who do not qualify for Social Security (it IS an earned benefit requiring many quarters of work paying FICA taxes) -- SSI. These programs do indeed carry a heavy load, but our so called "safety net" is pitiful compared to every other industrialized nation! |
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Re: Share your fears about Social Security
posted at October 20, 2012 2:15 PM EDT
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Posts: 2
First: October 20, 2012 Last: October 20, 2012 |
Social Security is a program created by the US Congress. Its benefits are based upon contributions from both workers and employers. I have studied programs for older persons in this country. To refer to our pitiful "safety net" as part of some rather bizarre "socialist agenda" ignores the abundant "best interest of [our] nation" that is served by the minimal Social Security benefits the program provides. The program is no more a pyramid scheme than the obscene income disparity in this country, which seemingly widens every week. Social Security has nothing to do with the national debt, except as to essentially enable more borrowing -- SSA has long invested its trust funds (the contributions of workers and employers) in US government bonds. Please learn about the "monsters" you so clearly fear before repeating the fear-based proganda from the Far Right. In Response to Re: Share your fears about Social Security: Early and worsening example of U.S. slide into socialism. Social Security could be OK as just emergency help during severities such as Great Depression (1929-39), but should NOT stay nor expand as has or seems trend. 10th amendment to U.S. Constitution intended to limit federal powers, but governments have wrongfully violated it with mandates such as Social Security & various socialist agendas. As a republic, our elected officials should better represent majority, while appropriately protecting rights of minorities, and keeping best interest of nation priority. If public wants government to serve people in ways which will bankrupt nation or morally degrade values, officials have duties to balance brief desirable benefits vs. long term interest of our future generations and our collective country's ethics. Social Security is pyramid type program, which fails if small percentage supports more vast population; and trend seems sliding deeper into inadequately solvent finances (unreasonable national debt when not warranted). Posted by WilliamAndrews01 |
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Re: Share your fears about Social Security
posted at October 20, 2012 3:43 PM EDT
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Posts: 1
First: October 20, 2012 Last: October 20, 2012 |
My greatest concern regarding Social Security is that it is not available when an accident, major injury or illness/disease happens when it is needed the most. We need to provide help in the 'beginning' when people need it the most and have the greatest opportunity to recover from their accident or illness... Not one to three years down the road when the individuals are either too far gone to help such as the cases with women with breast cancer or people who have lost everything because they could not work. The help needs to be present in the beginning when people need it the most so they have the best chance for recovery/survival so they can return back to the workforce. It seems it is the goal for Social Security and Medicaid to make things most difficult in the beginning in the hopes that more people will die leaving less people to take care of. Whenever someone gets a 'raise' or increase in Social Security benefits, the increase is deducted from the food stamps and or other services so that there is never an increase... only an illusion. I had a friend who died waiting for help from Social Security. After three years of battling Social Security she finally received her first check.. one month after she died. I have heard so many similar stories. I find it appalling. |
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Re: Share your fears about Social Security
posted at October 20, 2012 4:01 PM EDT
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Posts: 15
First: June 15, 2009 Last: October 20, 2012 |
I fear that the Romney-Ryan falsehoods about Social Security and Medicare will lead to adoption of the anti-geriatric voucher system. As a senior with too many health problems to count on ten fingers, I could no more buy insurance for the pittance Ryan proposes--if I could get any at all--than fly. As far as Social Security is concerned, it certainly can't keep up with inflation, but the trust fund won't run out until 2080, contrary to what the GOP ticket would like us to believe. I guess I should be happy that their lies will scare seniors, so that we can have another 4 years of rational, not-for-profit government instead of a president whose first priority is to lower his own taxes while raising the incomes of his buddies in the arms industry. |
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Re: Share your fears about Social Security
posted at October 20, 2012 6:17 PM EDT
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Posts: 12549
First: February 29, 2008 Last: June 16, 2013 |
In Response to Re: Share your fears about Social Security: I fear that the Romney-Ryan falsehoods about Social Security and Medicare will lead to adoption of the anti-geriatric voucher system. As a senior with too many health problems to count on ten fingers, I could no more buy insurance for the pittance Ryan proposes--if I could get any at all--than fly. As far as Social Security is concerned, it certainly can't keep up with inflation, but the trust fund won't run out until 2080, contrary to what the GOP ticket would like us to believe. I guess I should be happy that their lies will scare seniors, so that we can have another 4 years of rational, not-for-profit government instead of a president whose first priority is to lower his own taxes while raising the incomes of his buddies in the arms industry. Posted by mmth A VOICE OF REASON---here thank you for contributing to the conversation. 75% of Part B is picked up by the General Fund and Ryan and republicans are drooling over those dollars spent because in setting up a voucher-system it will offset tax breaks for millionaire/billionaires like themselves and turn the greater of the cost of healthare over to the elderly recipients. . OF COUR SE S S has nothing to do with the deficit and why we have to repeat it over again are the lies going around. I don't recall anytime in this country's history there has been this much disinformation going to the public . Republicans used the deficit to go after Social Security. Georgie Bush went around the country for nearly a year during his term selling privatizing Soc Security and then when the stock market collapsed. he had nothing to sell. so he quit. From 1983 until last year, Social Security revenues actually lowered the Treasury’s need to borrow in the public markets, as excess payroll taxes collected under Social Security’s flag helped fund other government programs. ( Money that was put into SS was robbed first by R Reagan years ago . )
It's easy to sell young people they won't need S S cause they aren't even aware it covers young folks who become disabled that's why it's really "insurance". The young also think they are making big-bucks today so they won't need a steady income like S S when they retire. However, even if they save diligently, economists say they'll still need 3 or 4 times the income they have today due to inflation and they better pray they won't be unemployed at all during those years and their health holds up if Soc Security is dismantled as the threats are there. |
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Re: Share your fears about Social Security
posted at October 20, 2012 6:41 PM EDT
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Posts: 12549
First: February 29, 2008 Last: June 16, 2013 |
In Response to Re: Share your fears about Social Security: Early and worsening example of U.S. slide into socialism. Social Security could be OK as just emergency help during severities such as Great Depression (1929-39), but should NOT stay nor expand as has or seems trend. 10th amendment to U.S. Constitution intended to limit federal powers, but governments have wrongfully violated it with mandates such as Social Security & various socialist agendas. As a republic, our elected officials should better represent majority, while appropriately protecting rights of minorities, and keeping best interest of nation priority. If public wants government to serve people in ways which will bankrupt nation or morally degrade values, officials have duties to balance brief desirable benefits vs. long term interest of our future generations and our collective country's ethics. Social Security is pyramid type program, which fails if small percentage supports more vast population; and trend seems sliding deeper into inadequately solvent finances (unreasonable national debt when not warranted). Posted by WilliamAndrews01 . AMERICANS have paid into Soc Security and Medicare out of their paychecks their entire lives often from 16 yrs old til 65 or 70 yrs old and even deserve better than what you are proposing for them....that's some thanks for building this country up for you-too. You young-folks don't have to start out from scratch paying for interstate highways to be built--or buildings or bridges...or railroads...all that is there for you by the sweat of others that were so often underpaid and saw inflation and often catastrophic events which ate up their savings. We certainly are into socialism....big time !!! That's why you have libraries, nat'l parks, fire-police protection, public highways, and the list goes on and on... for you to enjoy using.... Capitalism cannot survive without some socialism and that's a fact. The stock maket is a pryamid program----insurance is pryramid program so don't try to diminish the important of Social Security by called it a ponzi-scheme....it's one of the most successful programs the USA has ever had. Just refer to our history when there wasn't any social security and that's what you suggest be in store for our elderly ---a life of dire-poverty.? Think hard.cause there are pundits on TV and the GOP who want to sell out Soc Security for the greed of Wall Street and the market doesn't care if it loses your money. Ask the people who invested with Madoff. ....I'll betcha they're happy SS is there for them....SS has been a sure thing....can't say that about Wall Street investments and seniors are going to fight to keep it that way....for our offspring too that will need it as much or more. . . |
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Re: Share your fears about Social Security
posted at October 20, 2012 9:57 PM EDT
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Posts: 1924
First: November 27, 2011 Last: May 31, 2013 |
In Response to Re: Share your fears about Social Security: As a now disabled RN with a certificate in Applied Gerontology I am familiar with the fiscal challenges facing Social Security. I am also familiar with several very simple policy changes, such as eliminating the FICA tax income cap, that would immediately place this remarkable program on a sound fiscal footing. Period. The present cap ensures that FICA taxes are the most regressive in the Federal system. Compare the effective FICA tax rate between someone earning less than $40,000 per year (7.5%) and someone earning $400,000 per year (7.5% on the first $110,000 -- then none)! It simply requires the political will, and perhaps a very little courage in Washington to do this. However, I am most concerned that programs such as Social Security, Medicare, and Medicaid are consistently referred to (especially on the far Right) as "entitlements." They are most certainly NOT entitlements. These programs represent essential elements of our social compact with one another. Referring to these programs as "entitlements" is a political ploy, one which tends to diminsh their importance in our social fabric. Social Security began as a minimal income for older person who had worked and contributed to our society over their lifetimes. It has grown to include a number of other very important income supports: for survivors, dependents, the disabled, and impoverished who do not qualify for Social Security (it IS an earned benefit requiring many quarters of work paying FICA taxes) -- SSI. These programs do indeed carry a heavy load, but our so called "safety net" is pitiful compared to every other industrialized nation! Posted by brycecyn ENTITLEMENT only means in government lingo (definition) - a benefit that is given according to a law. The reasons why just raising the cap will not work is very simple: 1. Employees share of Social Security FICA taxes is normally 6.2% - President Obama lowered this amount by 2% for the last couple of years but that will end at the end of 2012. The cap is now set at $ 110,100 of earnings for everybody. 2. The employer share is still at the 6.2% When the employee reaches this earnings limit and the SS part of FICA stops for the rest of the year; it also stops for the employer, giving both extra money to spend or even invest in the business. If the earnings limit is removed,or even taken way up rapidly, as you suggest, employers would have to still match whatever the employee is paying. Those who might be employed by the employer could lose their job because this would be such a financial burden on the business. Now also think about this - the distribution formula used to compute the benefit under whatever part of SS that you might qualify (OASDI)- is set by law. We cap the earnings while people are paying into the system to also cap their distributions when they start drawing benefits. So if you change the cap the distribution also goes up to those who have higher earnings. So what you are saying could only work if there was a different method for computing the distribution and the Congressional Research Service has this to say about it: "CRS estimated the potential impact of eliminating the taxable wage base on future benefits and taxes. If the base were removed in 2013, CRS estimates that by 2035, 21% of beneficiaries would have paid some additional payroll taxes over the course of their lifetimes. However, the average change in taxes and benefits would be small. Looking only at individuals who would pay any additional taxes over the course of their lifetimes, at the median, total lifetime tax payments would rise by 3% and benefits would increase by 2% relative to current law. In general, those in the highest income groups would have the largest changes in both tax payments and in benefits relative to current law. Raising or eliminating the cap on wages that are subject to taxes could reduce the long-range deficit in the Social Security Trust Funds. For example, if the maximum taxable earnings amount had been raised in 2005 from $90,000 to $150,000—roughly the level needed to cover 90% of all earnings—it would have eliminated roughly 40% of the long-range shortfall in Social Security. If all earnings were subject to the payroll tax, but the base was retained for benefit calculations, the Social Security Trust Funds would remain solvent for the next 75 years. However, having different bases for contributions and benefits would weaken the traditional link between the taxes workers pay into the system and the benefits they receive." Here are the relative links if you would like to read them: 2012 Social Security Tax Rate and Maximum Taxable Earnings Congressional Research Service: September 24, 2010 - Social Security: Raising or Eliminating the Taxable Earnings Base |
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Re: Share your fears about Social Security
posted at October 21, 2012 2:08 PM EDT
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Posts: 2
First: May 24, 2012 Last: October 21, 2012 |
As everyone knows, Soc. Sec. is headed towards bankruptcy. Since Obama has been President, the day of bankruptcy has moved 3 years sooner. His "payroll tax cut" was really a cut in funding of SS, replaced with more loans from China. Do you really want Obama controlling our SS fund with his short term (next election) philosophy? |
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Re: Share your fears about Social Security
posted at October 21, 2012 2:19 PM EDT
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Posts: 1
First: October 21, 2012 Last: October 21, 2012 |
In Response to Re: Share your fears about Social Security: To keep SS solvent we should demand an immediate end to Obama's cuts in the SS taxes paid by current workers. Is this part of a plot to kill SS by cutting funds available for payments? Everyone knows the SS fund is in trouble. He is only making it worse. I paid FICA and my employer matched it every year. Now when the economy is in trouble OBAMA cuts the money available to make SS payments. Posted by Golfnutoo we have to agree to disagree to have a conversation-- I take it u want mr. mitt to take over our ss system-a person that has never had to struggel in his life-doesn't know the meaning of trying to decide to pay the gas bll or your childs doctore bill,or food for them, A person that wants to make it a voucher program-if even that-or do away with it completly-and leave it up to families to take care of each other- God bless that he has made his way in the world-but it was on the backs of other companies-but-why won't he keep his money here and pay the same taxes we have to pay?is that fair? and what hapen to freedom of CHOICE?? I may not agree with abortion or gay rights-but i do believe in freedom of CHOICE-is that not all we have left ?? at least we know who mr.O is--who is mr. M--?-I am 65- on ss. disability and medicare--and I am scared to death if mr. M is elected-The only way he will govern the people is the mormen way-for to him there is no other way-so what happens to our freedom of choice?-he will elect 2 (possible) to supreme court to do his dirty work-to over turn roe v wade-read the book of mormans-and the 5 books of mormans--which is very,very hard to get ur hands on-but I did- God help us all if he gets elected--and that is my opinion,,,,,,, |
Forums » Work & Retirement » Social Security » Share your fears about Social Security
