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Old January 15th, 2013, 12:30 AM   #1
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Default PATRIOT ALERT!! Social Security Name Changes / READ

PATRIOT ALERT!! Social Security Name Changes / READ

A Share from Patriot Mike Brown:
This is worth reading and thinking about. Pay attention to your next Social Security income, whether you get a check or an electronic deposit....note what it is now called...see below.. Have you noticed, your Social Security check is now referred to as a "Federal Benefit Payment"? 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 isn’t a benefit – its 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 investment in social security ($375/month, including both you and your employer’s 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 pulled off a bigger Ponzi scheme than Bernie Madoff ever did.They took our money and used it elsewhere. They “forgot” 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. 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” 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. 99% of people won't forward this. Will you?
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Old January 17th, 2013, 10:27 AM   #2
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True
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Old January 17th, 2013, 10:32 AM   #3
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OH NO!!!!
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Old January 20th, 2013, 10:29 AM   #4
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People are nieve to the goverment. Its gonna get worse
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Old January 20th, 2013, 11:30 AM   #5
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My generation is f-ed.
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Old January 20th, 2013, 11:57 AM   #6
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My generation is f-ed.
Mine isn't much better off.
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Old January 20th, 2013, 12:23 PM   #7
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Uhhhhhhhhhhhh.

There is no Social Security account with your name on it where monies received (from you or your employer) are sitting.

Current retired SS recipients generally exhaust the amount they paid in in about seven years - high earners may go 10 or 11. Recipients who collect earlier (i.e. after a shorter or no period of contributing) obviously exhaust theirs sooner.

Today, monies received by SS go in the front door and right out the back; the workers of today pay for the retirees of today. Today's retirees paid for yesterday's retirees.

Basically, SS is a big pyramid scheme that the Baby Boomers will collapse. It was originally intended to be a "safety net" program, but the had a hard time selling a social benefit program where the working folks would pay into a fund to be redistributed to non-working folks - because there was a time when such ideas were foreign and repugnant - even to mainstream .
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Old January 20th, 2013, 06:45 PM   #8
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Quote:
Originally Posted by DuffMan View Post
.......

Today, monies received by SS go in the front door and right out the back; the workers of today pay for the retirees of today. Today's retirees paid for yesterday's retirees.
So HE'S the one doing all this!!!!
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Old January 20th, 2013, 06:53 PM   #9
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Today, monies received by SS go in the front door and right out the back; the workers of today pay for the retirees of today. Today's retirees paid for yesterday's retirees.

.
This is different from other government programs where it goes in the back door....
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