John_F Loc: Minneapolis, MN

Per the Trump and GOP.

The Social Security check is now (or soon will be) 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. It is our money paid out of our 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 employers 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 (oh yes, they knew) 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?

Steven Seward Loc: Cleveland, Ohio

You are upset by a simple name change, which prompted this letter? The real problem is the one you referred to later as a Ponzi Scheme. The truth is that most Social Security beneficiaries will receive considerably more in benefits than they paid in. In that sense, some of the money is indeed a Federal Benefit.
http://www.politifact.com/truth-o-meter/article/2013/feb/01/medicare-and-social-security-what-you-paid-what-yo/

chrisscholbe Loc: Kansas City, MO

I agree that ....."Thus, Social Security is — and always has been — a transfer system from younger generations to older generations."

However, IMHO, the real problem began when the Social Security dollars were made part of the General Fund.

I believe that SS would still be solvent/viable if the monies had stayed separate from the rest of any other gov spending.
I believe this happens, in part, because many people die before ever collecting SS, which helps fund the rest of us in the future.

I'm certainly no expert.....just my opinion.

Steven Seward Loc: Cleveland, Ohio

You are right. Something like 40 years ago the Federal Gubmint started "borrowing" money from the Social Security Fund to pay its other bills. This usually masks some of the Federal Deficit and makes it seem like we are not in as much debt as we are.

dirtpusher Loc: tulsa oklahoma

This is just another attention to hide the money they been stealing. An to acquire what is left.

George W. Bush " ‘borrowed’ $1.37 trillion of Social Security surplus revenue to pay for his tax cuts for the rich and his war in Iraq .

What Happened to the $2.6 Trillion Social Security Trust Fund? - Forbes

http://www.forbes.com/sites/merrillmatthews/2011/07/13/what-happened-to-the-2-6-trillion-social-security-trust-fund/

Social Security currently has a $2.6 trillion surplus which has been building up since the 1983 amendments and is intended to help absorb the retirement of the baby boomers. This surplus is invested in US Treasury securities that are backed by the full faith and credit of the US government. According to the Social Security Trustees 2010 report

EyeSawYou

Did George W. Bush 'borrow' from Social Security to fund the war in Iraq and tax cuts?- Politifact ruling: Mostly False

A Facebook posts says, "Bush ‘borrowed’ $1.37 trillion of Social Security surplus revenue to pay for his tax cuts for the rich and his war in Iraq and never paid it back."

By law, the Social Security surplus is converted into bonds, and the cash is used by the Treasury to pay for government expenses. If we agree that this is "borrowing," every president since 1935 has done it, to fund all sorts of things. Even if Bush "borrowed" from the surplus, the amount is more like $708 billion, and the borrowing wasn’t earmarked for special purposes.

As for not "paying back," the bonds won’t need to be repaid until 2020.

Overall, the claim is misleading and confuses many points. So we rate it Mostly False.

http://www.politifact.com/truth-o-meter/statements/2015/aug/03/facebook-posts/did-george-w-bush-borrow-social-security-fund-war-/

dirtpusher Loc: tulsa oklahoma

Key word you trying to ignore is.

MOSTLY.

NOT COMPLETELY. ..... SO

Guess what it is true.

Try again whiny lil fella

You loose again

Steven Seward Loc: Cleveland, Ohio

The DirtBag just threw the Bush comment in there because he hates everything Republican. It matters to him not one bit if Democrat Presidents did the same thing.

dirtpusher Loc: tulsa oklahoma

Almost

btbg

What you just pointed out is exactly why conservatives are opposed to social security. If the federal government had let me invest my money instead of taking it to supposedly give me a partial retirement package I would already be retired and living comfortably.

In the past you have railed against Republicans for wanting to do away with social security, but you have just identified exactly why we don't like it.

As long as there is social security the government will take from the young and give a small piece of it to the elderly. Instead the government would insure that almost everyone could retire comfortably by requiring us to invest the 6.5 percent that is currently taken for social security and having the employer continue to pay their 6.5 percent into the program until those who are already on social security are gone.

They could gradually phase out the program and as more elderly die gradually have the employer begin putting their portion of the money into the individuals retirement plan instead of social security.

This might cause some pain for a few of us that are nearing retirement age, but would sure be better for our children, because you are absolutely right social security is a ponzi scheme and always has been.

Architect1776 Loc: In my mind

Your analysis is all wrong. A majority of those on SSI never paid into it or very little. All the older illegals get it from the start and never paid into it. Those on SSDI get it when reaching the proper age. Those who never worked get it as well. So while you might have worked and put a little bit in you are paying for a whole lot of freeloaders. And what little if any you paid into Medicare does not even come close to covering even a year of medical benefits received unless you are healthy like me and go once a year for a physical and are not hooked on a bunch of stupid designed drugd as society seems to be today. PS my father at 94 sees the doctor about as much as I do and no drugs too.

FlyingTiger Loc: Tortola, BVI

You are a cockeyed liar dirt bag.

FlyingTiger Loc: Tortola, BVI

This is very old news. This e-mail has been going around for at least 15 years. Not surprising that it just caught up to a dimwit like you. BTW, it was the Democrats that instigated the name change/description, NOT the Republicans. Your post is a lie.

FlyingTiger Loc: Tortola, BVI

Cockeyed dirt!

ole sarg Loc: south florida

SS was always part of the general fund!

Look it up!