How NOT to fund the cruising kitty: Welfare Fraud

[pdjb]

lets set this straight...disability and soicial soc. these law were set up by the pres. at the time when they though about it....my x wife is one disability...only because she had a doctor who told her...choice is yours...keep working and die..or go on disablity...she fought the gov.because they prolong it...and after she won...she had to sue...the law is setup to protect the people..the gov. does not see it that way...U work all your life and when U want to have the money...they tell U NO. it is not yours..you pay it to the system all your life and then they denine U....they want U to go back to work....they have a back to work program....they don't want U to collect....just go back to work and keep paying into the fund...U can't live on 800.00 a month...yes there are people out there who steal and get away with it.....going thur the apps and all the paper work is a joke...they don't want U to have any thing ...just die...I am early retired...work all my life since the age of 13....saved my money for a rainy day....well my rainy day is here...I can't live on what the gov. gives me....I live on a boat....trying to survive....I don't have food stamps because I have not enought outgoing bill....gas.light.rent.phone....they want to know how much U have in bank...car what it is worth...and cd., any other income...things that I couldn't get because I was living from paycheck to paycheck...the gov...will make social sec...go away in a few more years...what I have is not a lot...I am trying to stay alive here...Food shelter and cloths is all I need..but they don't want me to have that either....so U are next?..think about it...the gov.verse the people...that is my logical thought

[Tar34]

Originally Posted by MBLittle

Boomers Fleece Generation X with Social Security | Cato Institute

By get more than they put in, I meant the fact that SS is a generational swap of wealth.

All GenX and after have paid 12.5% of earnings into SS and will only pay more as SS becomes more and more bankrupt. Compare that to the less than 7% most baby boomers put in for most of their working life. Also factor in most GenX and after are making far more money earlier in life than BBers.

At 21 I made exactly what my ex father in law At 56 was making even after he worked for GE for 25 years.

So yes, BBers are getting more than they put in and its their children's and grandchildren's checks they draw this money from. Seem to remember someone before mentioning burdening future generations with "welfare" debt. SS will be completely bankrupt in 2033. Oddly enough I'll be 63 then, and collecting exactly ZERO so the "gimmie now" generation before me didn't have to plan anything.

Thankfully though, I won't need it. I got to retire at 30.

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You are an example why many feel millionaires and billionaires should pay at the same rate as Obama's secretary. As a winner of life's lottery I'm sure you agree.
Of course, a personage such as yourself must have hidden assists in some offshore account of interest to the share the wealth crowd. How else could you retire at 30 unless you stole it or cheated the system.

[MBLittle]

Originally Posted by Tar34

You are an example why many feel millionaires and billionaires should pay at the same rate as Obama's secretary. As a winner of life's lottery I'm sure you agree.
Of course, a personage such as yourself must have hidden assists in some offshore account of interest to the share the wealth crowd. How else could you retire at 30 unless you stole it or cheated the system.

It says something that someone assumes those are the only two options for achieving early retirement. Theft or cheating.

A thought that doesn't cross people's minds? Work hard, save and reevaluate the level of income you can survive on?

Yes, I must have millions hidden in off shore accounts because I still like my $5,000 a month lifestyle. Couldn't possibly be that I lived poor, invested wisely, skimped on luxuries and now receive dividends from long term investments and still maintain a percentage in a company I founded.

Nah, gotta be theft or cheating.

Couldn't possibly be that I'd rather spend time with my kids instead of working until I die so I can buy a big house, full of crap I don't need.

I for one noticed the flaws in our society at an early age. Not my fault people didn't catch it until they were grey and worn.

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[captain58sailin]

Amen MB.

[Lake-Effect]

Originally Posted by MBLittle

Also factor in most GenX and after are making far more money earlier in life than BBers.

again... cite? link?

So yes, BBers are getting more than they put in

aaaaand again... cite? link?

Thankfully though, I won't need it. I got to retire at 30.

Well, congratulations. I'm assuming you didn't make your pile in economics, statistics or math

There IS a problem coming with SS, but misunderstanding the problem won't lead to a solution.

[goboatingnow]

Originally Posted by Lake-Effect

again... cite? link?

aaaaand again... cite? link?

Well, congratulations. I'm assuming you didn't make your pile in economics, statistics or math

There IS a problem coming with SS, but misunderstanding the problem won't lead to a solution.

I think the problem is visible to every state that has a welfare system of sorts. It's that people are living to long after finishing working. This is especially true of women.

Hence the ratio of worked to unworked years is getting skew-ways.

By the time I come to retire they'll probably have raised it to 75 !!!

Dave


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[pdjb]

dear mbllttle....here are the facts..when the gov. (the people that we vote in) they make all the scams up. so they could have the nice retirement while the us goes down the toilet...they will come for your money...they lies. cheat. steal...remember they control the outcome...the ss that U put in is matched by the employer? yes or no..they give u all the information on your earnings if u want to see it of all the money that u put into the fund..not a fund anymore...when U go to ss office and collect...the last five years of your work history is all that they look at..fact...how do I know this....I have a friend in ss.so if you work for only 5 years of your working life...they have a formula that they use to give u money...fact....the dems. took all the money during the 70s lead by al gore and put it in the general fund...so the ss doesn't really exist anymore...we honor the money because we have to...fact...I hope you keep what u have....I learned a lot when I was young...I could have made a lot of money but didn't...I wanted to work..I like the things that taught me..money isn't everything..honor is...but in today greed is the motive and give me something for nothing...I just would like to sail and be happy with what I have....maybe I am not rich nor poor but I have respect and that is my code . I will take bets on the us pred race...who will run and win....that is my ticket to riches.like mr spoke said..logic don't lie...think about that...people like to be lied to....thats a fact..maybe some day we can meet and talk about sailing....enjoy life before they take that away...

[senormechanico]

Originally Posted by Lake-Effect

...citation? links?

While I don't doubt that there's a looming problem with SS funding, I don't believe your statement is true.

u
While you're looking up those "facts", make sure to factor in inflation.
When I started working, the minimum wage was just over a dollar.
Gasoline was $0.25 and you could buy a really nice new Chevy for about 3 grand.

[pdjb]

yes I remember that to......they don't factor in inflation.....the great leaders of this great land of the us....because they don't want to...but they factor in when they give themselve a raise...money talks pay me

[Lake-Effect]

Originally Posted by MBLittle
Its been well documented that almost no one on social security put in as much as they get.

Originally Posted by Lake-Effect
...citation? links?

While I don't doubt that there's a looming problem with SS funding, I don't believe your statement is true.

Originally Posted by senormechanico

u
While you're looking up those "facts"...

Ok, I see we'll get nowhere with this.

Everybody KNOWS there's a funding problem with SS. But if people continue to BS about it, there's not much hope for a solution.

'nite.

[noelex 77]

This thread has has drifted away from anything vaguely related to sailing.

Some less than nice posts have been deleted and it is now closed.