Social Security Poll on MSN........is it Socialism?

[Jackie S]

There is a poll running on MSN asking if Social Security is closer to Socialism or Capitalism

A slight majority is saying Capitalism, but 37% are saying Socialism

Don't these people realize that it's your money you are getting back. I waited untill 70 untill I started drawing mine, (that was my max out age), and with this years raise, I get $4005 a month. For the past 25 years, I paid in the max, and of course, every year the percentage would go up as well as the cap. Of course, I have to pat taxes on 85 % of what I get,and since I am still working, I pay more in every week

If I died tomorrow, the Government would make out like a bandit. But if I make it past 80, I just might recoup what I paid in through the years.

Social Security has nothing to do with Socialism.

Well, maybe. The last time I was at the SS office in Pasadena, the building was packed. But very few "old people" mostly lard ass women with a bunch of screaming kids.......and Mexicans.

[nevergaveitathought]

there definitely are elements of socialism in social security

and yes, you go to a social security office and its filled with parents of kids all trying to get disability payments for their kids claiming adhd etc

WHAT DOES “DISABLED” MEAN FOR A CHILD?

If you are under age 18 we may consider you “disabled” if you have a medically determinable physical or mental impairment, (including an emotional or learning problem) that:

• results marked and severe functional limitations; and
  can be expected to result in death; or
  has lasted or can be expected to last for a continuous period of not less than 12 months.

even many retired recipients are enjoying a bit of socialism as the benefits are not based strictly on the taxes paid but are heavily weighted to the lower wage earner

[WTF]

Originally Posted by nevergaveitathought

there definitely are elements of socialism in social security

Quite right.

It sure the fuck isn't Capitalism.

Unless I'm unaware of having a choice to legally not pay that there tax.

Even if one was to say that the tax was Capitalism, no self respecting Capitalist would go decades without adjusting its inputs and outflow as his customers lived longer and varied in numbers depending on the birth rate.

In fact the more one discusses this....who in their right mind would call this Capitalism?

[kehaar]

It isn't socialism. It is a ponzi scheme.

https://en.wikipedia.org/wiki/Ponzi_scheme

As a society, I believe we have to provide a mechanism to ensure the elderly don't starve in retirement. The subsistence level for that support ought to be quite low.

What we have now is a bloated ponzi scheme, with the "investment' collection enforced by the end of a gun barrel. The mafia likely uses this program as an example.

I have several acquaintences that are "disabled". The "disabled" activities look quite fun.

Nothing should be changed for the retired or near retired, but the system will be fundamentally fucked by the time I retire, and needs to be changed. The money Jackie put into the system is long gone(spent) on the new deal. There was never, and never will be, a government run investment scheme that is fed by tax collection. That concept is fundamentally irrational and insane.

The money Jackie is receiving is being extracted from current working folks.

[themystic]

Originally Posted by kehaar

It isn't socialism. It is a ponzi scheme.

https://en.wikipedia.org/wiki/Ponzi_scheme

As a society, I believe we have to provide a mechanism to ensure the elderly don't starve in retirement. The subsistence level for that support ought to be quite low.

What we have now is a bloated ponzi scheme, with the "investment' collection enforced by the end of a gun barrel. The mafia likely uses this program as an example.

I have several acquaintences that are "disabled". The "disabled" activities look quite fun.

Nothing should be changed for the retired or near retired, but the system will be fundamentally fucked by the time I retire, and needs to be changed. The money Jackie put into the system is long gone(spent) on the new deal. There was never, and never will be, a government run investment scheme that is fed by tax collection. That concept is fundamentally irrational and insane.

The money Jackie is receiving is being extracted from current working folks.

Im glad Jackie is getting it. AOC is right about taxing the wealthy after 10 million. SS can get the money there. Or maybe El Chopos money can pay for it

[The_Waco_Kid]

themystic doesn't know his stuff!!!

[bb1961]

Don't you know he is a liberal/conservative and a socialist/capitalist...only TM

[WTF]

Originally Posted by kehaar

The money Jackie is receiving is being extracted from current working folks.

Yes, that is how it was set up.

Do you expect there to be no workers anytime soon ?

If so, then it would be a Ponzi scheme.

It will fail when the US goes broke. These trillion dollar yearly debts are not helping. You might want to be a tad more concerned about those....especially when the economy is doing good. That is normally the time when a nation pays down its debts.

[grean]

Originally Posted by Jackie S

There is a poll running on MSN asking if Social Security is closer to Socialism or Capitalism

A slight majority is saying Capitalism, but 37% are saying Socialism

Don't these people realize that it's your money you are getting back. I waited untill 70 untill I started drawing mine, (that was my max out age), and with this years raise, I get $4005 a month. For the past 25 years, I paid in the max, and of course, every year the percentage would go up as well as the cap. Of course, I have to pat taxes on 85 % of what I get,and since I am still working, I pay more in every week

If I died tomorrow, the Government would make out like a bandit. But if I make it past 80, I just might recoup what I paid in through the years.

Social Security has nothing to do with Socialism.

Well, maybe. The last time I was at the SS office in Pasadena, the building was packed. But very few "old people" mostly lard ass women with a bunch of screaming kids.......and Mexicans.

It's wealth redistribution...a.k.a socialism. We have always had elements of socialism in our economy. We aren't a strict capitalist economy.

63% of people are absolutely wrong if they said it was capitalism. All the money you paid in and won't get back is redistributed to others, many of whom have not paid a dime in. You, a person with wealth, get it taken away and given to others without. That's textbook socialism.

I know I won't see a dime of what's been taken from my paychecks. No one under 45 or maybe even 50 will.

I'm not saying it's wrong at all. We have to take care of our people.


I do agree there are a lot of 'disabled' people out there though that maybe arent.

[bb1961]

Originally Posted by WTF

Yes, that is how it was set up.

Do you expect there to be no workers anytime soon ?

If so, then it would be a Ponzi scheme.

It will fail when the US goes broke. These trillion dollar yearly debts are not helping. You might want to be a tad more concerned about those....especially when the economy is doing good. That is normally the time when a nation pays down its debts.

The debt is increased with SS...money owed to the people
https://www.forbes.com/sites/ebauer/.../#43bf497e28c4
The only way to pay down the debt is to stop this runway spending...there is NO reduction in spending anywhere in the budget!!
You go on and on about SS not being a large part of the debt...the article explains this in good detail...70% is owned by the people of the country!!https://www.marketwatch.com/story/he...ebt-2018-08-21

https://www.usatoday.com/story/opini...umn/914488002/
You just have to be able to read and comprehend
https://www.fool.com/retirement/2016...-security.aspx

[SpeedRacerXXX]

Originally Posted by Jackie S

There is a poll running on MSN asking if Social Security is closer to Socialism or Capitalism

A slight majority is saying Capitalism, but 37% are saying Socialism

Don't these people realize that it's your money you are getting back. I waited untill 70 untill I started drawing mine, (that was my max out age), and with this years raise, I get $4005 a month. For the past 25 years, I paid in the max, and of course, every year the percentage would go up as well as the cap. Of course, I have to pat taxes on 85 % of what I get,and since I am still working, I pay more in every week

If I died tomorrow, the Government would make out like a bandit. But if I make it past 80, I just might recoup what I paid in through the years.

Social Security has nothing to do with Socialism.

Well, maybe. The last time I was at the SS office in Pasadena, the building was packed. But very few "old people" mostly lard ass women with a bunch of screaming kids.......and Mexicans.

First, paying taxes on 85% of your social security income has nothing to do with whether or not you are working. I do not work and I pay on 85% of my social security income. I started receiving SS at 66 and I get about $34,000 a year. My financial advisor advised me to start taking it at 66 rather than waiting for the very reason you cited. You have to live to be about 80 to recoup what you've put in and the average male in this country does not live that long.

But the question as to whether or not Social Security is considered "socialism".

"Nevertheless, because the American government plays such a dominant role in the U.S. Social Security system – deciding how much and when employees and employers pay into the system, how much individuals receive in benefits when they get them, and preventing almost everyone from opting out – it seems fair to call the Social Security program a form of socialism. The program requires workers and their employers, along with self-employed individuals, to pay into the system throughout their working years. The government controls the money they contribute, and decides when and how much they get back after – and if – they reach retirement age."

https://www.investopedia.com/article...-socialism.asp

[rexdutchman]

It isn't socialism. It is a ponzi scheme, the problem is that the liberal socialists is when more are getting the putting into and gov has to use "other " funds it becomes more socialist

[Jackie S]

Originally Posted by SpeedRacerXXX

First, paying taxes on 85% of your social security income has nothing to do with whether or not you are working. I do not work and I pay on 85% of my social security income. I started receiving SS at 66 and I get about $34,000 a year. My financial advisor advised me to start taking it at 66 rather than waiting for the very reason you cited. You have to live to be about 80 to recoup what you've put in and the average male in this country does not live that long.

But the question as to whether or not Social Security is considered "socialism".

"Nevertheless, because the American government plays such a dominant role in the U.S. Social Security system – deciding how much and when employees and employers pay into the system, how much individuals receive in benefits when they get them, and preventing almost everyone from opting out – it seems fair to call the Social Security program a form of socialism. The program requires workers and their employers, along with self-employed individuals, to pay into the system throughout their working years. The government controls the money they contribute, and decides when and how much they get back after – and if – they reach retirement age."

https://www.investopedia.com/article...-socialism.asp

I probably did not make myself as clear as I should.

I pay taxes on the 85%, it is taxed at the same rate as my personal income tax, in other words, it's thrown into the pot with the rest of my earned income.

[WTF]

Originally Posted by rexdutchman

It isn't socialism. It is a ponzi scheme, the problem is that the liberal socialists is when more are getting the putting into and gov has to use "other " funds it becomes more socialist

So the government programs that have borrowed to pay for their expenditures are Socialist?

You mean like the Military?

You do realize we do not pay enough taxes to pay for our military and the government has to borrow from SS and from future generations in the form of Tbills