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Started By
Message
re: Social Security benefits to jump by 8.7% next year, highest in 40 years
Posted on 10/13/22 at 1:46 pm to Oilfieldbiology
Posted on 10/13/22 at 1:46 pm to Oilfieldbiology
quote:
A person making $50,000/year will average $6,0000 per year into SS. Let’s say the person works for 45 years, that’s $270,000 total paid in and they would be paid back in 22.5 years. Meaning when they turned about 90 if I did my math right.
And this doesn't take into account market gains had they invested that amount on their own. It would be over $1 million.
Obviously, not everyone is responsible enough to save and invest, which is why SS exists in the first place. I wish people had the option to opt out of paying into/receiving SS.
This post was edited on 10/13/22 at 1:48 pm
0
Posted on 10/13/22 at 1:49 pm to el Gaucho
Most millennials around me seem like Lazy Fucs but, whatever they call the next group of youngsters, they are the worse ! Maybe I am judging from my own children but it’s like they think they are Entitled to “ All “ !
Posted on 10/13/22 at 5:23 pm to chaso
There have been millions of people who died before they were Social Security eligible. They paid all their working life's and never drew a penny. Where do you suppose all that money went? Widows could claim some when they became the proper age. The government has kept billions of this money.
Posted on 10/13/22 at 5:24 pm to chaso
There have been millions of people who died before they were Social Security eligible. They paid all their working life's and never drew a penny. Where do you suppose all that money went? Widows could claim some when they became the proper age. The government has kept billions of this money.
Posted on 10/13/22 at 5:48 pm to Midget Death Squad
Is it a socialist program that never should exist?
Except it’s not a socialistic program.
Posted on 10/13/22 at 5:51 pm to TigerKurt
Which is in effect because of democrats.
Posted on 10/13/22 at 6:38 pm to East Coast Band
The consumer price index rose 8.1% over the last year…so folks that live off social security are still losing purchasing power.
Posted on 10/13/22 at 7:32 pm to Caraway Rye
BullS****.. for years I paid into social security, which was taken out of each and every paycheck. Sorry, but that money is mine!
I am guessing that most people bitching about people getting social security benefits own their own small company and have found ways to never pay into social security taxes.
I am guessing that most people bitching about people getting social security benefits own their own small company and have found ways to never pay into social security taxes.
Posted on 10/13/22 at 7:37 pm to East Coast Band
Brandon's inflation is about 8% so if you don't keep up you are losing money.
Pluss you wouldn't want a bunch people who do nothing all day to have less purchasing power
Pluss you wouldn't want a bunch people who do nothing all day to have less purchasing power
Posted on 10/13/22 at 7:38 pm to East Coast Band
Thanks for posting this, it has proven to me my belief that the younger generation is absolutely clueless on how the US SS and Medicare system works.
They want to batch when people who worked and paid into the system for over 40 years get an increase to keep up with inflation, but demand $15 minimum wage and demand the LOANS they chose to take be repaid by those getting this increase.
They want to batch when people who worked and paid into the system for over 40 years get an increase to keep up with inflation, but demand $15 minimum wage and demand the LOANS they chose to take be repaid by those getting this increase.
Posted on 10/13/22 at 7:39 pm to Flglenn
quote:
The government has kept billions of this money.
Because social security is not a gauranteed benefit
The government has also taken money out of it for use in other areas
It is a welfare program. That is not gauranteed. It is a tax at the end of the day. A tax they are kindly letting some people have back in some form.
Where did the billions go? General funds.
Who has voted for this system the most?
Boomers
Posted on 10/13/22 at 7:42 pm to Caraway Rye
I called to check my zip code.
Posted on 10/13/22 at 7:44 pm to East Coast Band
Looks like our potato head president is trying to make sure his Dems gets the older votes for Nov Elections but i have no problem with the ones who paid into the system getting it. It is needed with prices shooting thru the roof on everything.
This post was edited on 10/13/22 at 7:47 pm
Posted on 10/13/22 at 8:07 pm to JR
quote:
They want to batch when people who worked and paid into the system for over 40 years get an increase to keep up with inflation, but demand $15 minimum wage and demand the LOANS they chose to take be repaid by those getting this increase.
Well in my case, I want to keep the money I earned and spend or save it as I see fit and not get shite from the government (not that I ever have/will anyway).
Posted on 10/13/22 at 8:08 pm to FLObserver
You do realize that the COLA increase formulas have been in place for at least 45 years, and that no president (absent new laws) can directly affect how much the yearly increase is?
Posted on 10/13/22 at 8:13 pm to GeorgeTheGreek
"Best way to fight inflation is to hand out more money. Thank you Mr. President!"
________________________________________________
Aint' no fan of Biden, but presidents have no control over the COLA increase calculations. To change the COLA increases, new laws must be passed. Soc. Sec. monthly benefits went up under Trump, as well, but not nearly as much.
________________________________________________
Aint' no fan of Biden, but presidents have no control over the COLA increase calculations. To change the COLA increases, new laws must be passed. Soc. Sec. monthly benefits went up under Trump, as well, but not nearly as much.
Posted on 10/13/22 at 8:16 pm to Oilfieldbiology
The minimum is $31.85 per month, and the max is a little over $4,000. Up until the $4,000 max, it is all calculated by how much an individual puts in.
Posted on 10/13/22 at 8:24 pm to Steadyhands
"This means the rate at which we are taxed and pay into this is also going to go up. So it's a raise for some, and a paycut for the rest of us."
____________________________________________
.. not really, the rate that you are taxed for social security does not have a fluid adjustment. It is still a tax, and can only be changed through the legislative process. An individual pays 6.2% out of their paycheck, and the employer pays the same- 6.2%, a total of 12.4%.
____________________________________________
.. not really, the rate that you are taxed for social security does not have a fluid adjustment. It is still a tax, and can only be changed through the legislative process. An individual pays 6.2% out of their paycheck, and the employer pays the same- 6.2%, a total of 12.4%.
Posted on 10/13/22 at 8:29 pm to nealnan8
My rate goes up every year.
Posted on 10/13/22 at 8:39 pm to molsusports
About the time they hit retirement age, social security will be gone.
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