So,what happens to the money......
in Social Security,of a person who dies before they ever got to collect any of it???
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POOF!!! 0 -
Same thing as your health insurance premiums if you never get sick: some one else gets to benefit from it.
Neal0 -
Hate to break this to you but social security is not a dollar for dollar exchange. 0 -
My Dad died at 59 years 6 days old. We got $250 from SSI. 0 -
quote:Originally posted by bpost
My Dad died at 59 years 6 days old. We got $250 from SSI.
And I'll venture to guess, he got -0-................Or $0.00
Am I close?
It's the system. A bad one, but the system.[xx(]0 -
so the deceased doesn't get it,
the estate doesn't get it,
you can't will it to someone else,
So,it should still be there,in the system,a reserve,
but,it's not,
the system is broke,there's little to no money left,
I'm thinking,someone got it. But,who???0 -
The people on disability who have received FAR more than they ever paid in. 0 -
quote:Originally posted by Rack Ops
The people on disability who have received FAR more than they ever paid in.
I'm going to have to agree with that.
I have two Brothers, Twins, that were born with Cerebral Palsy. They have collected SS they're entire lives. They were born in 1957.
Also to add, there used to be a Meth Head that lived down the street from me. He used to laugh because he collected it because he was a Junky!!! Said and they agreed that it was a Disability.[:(!]0 -
I applied for SS last year, at 62. Figured, why wait!
I did some checking on what I paid in over the last 45 years. At my current monthly check, I will have received everything I paid into it if I last 6 years.
So - in another 5 1/2 years I will officially have got what I put in! Woo who!0 -
People dying before they could withdraw is part of the foundation of the great Ponzi Scheme that is SSI.
When it started there were few people that got old enough to get benefits so the system got fat, knowing that that would change.
So then the politicians raided the "surplus" and increased the number of young folks who could draw from the system and guess what -- the system is going broke.[:(!]
I planned on not bothering with SSI, but then some bad health hit and I had to retire early. I don't get much (Thanks to the "windfall" provision my dear Senator McConnell put in place[:(!] ) but it sure makes a difference.
So more people live long enough to draw more than what they put in, fewer people are paying into the system, and the politicians have raided the system of it's "surplus".
Ain't government a good thing[xx(]0 -
the same happening to the "younger folk" having retirement age pushed up to 70 YEARS or more .. they play the odds less well out 0 -
quote:Originally posted by WearyTraveler
I applied for SS last year, at 62. Figured, why wait!
I did some checking on what I paid in over the last 45 years. At my current monthly check, I will have received everything I paid into it if I last 6 years.
So - in another 5 1/2 years I will officially have got what I put in! Woo who!
It takes more than that to know if you really broke even. You would need to find out what the paper dollar was worth 45 years ago compared to the worth of a paper dollar today. Then the value of the paper dollar six years from now compared to today?s paper dollar. It isn?t worth the trouble, but I suspect if you did that the Federal Insurance Contributions Act (FICA) might not smell quite as sweet.
The government is full of accounting tricks and gimmicks that cause the books to appear to be balanced but not many people have the knowledge or patients to figure it out, and of those most aren?t interested enough to actually do it.
When we talk about the national debt most of us think of it as a debt. We think of it as money that actually exists or did exist at one time. That money is gone and is never coming back.
When the Treasury decides they need another billion dollars that won?t be covered by taxes or other income, they go to the Federal Reserve Bank and tell them to print up another billion. Paper money is useless without backing so to back up the paper money the Treasury cuts a check to the Federal Reserve for a billion dollars. What backs up the Treasury check? Well the new billion paper dollars of course.
We are being robbed or taxed daily without most of us even knowing it. We call that inflation.
Senator Dirksen once said ?You take a million dollars here and a million dollars there and pretty soon you?re talking about a lot of money?. The quote has changed over the years to ?billion dollars?, I assume to account for inflation.0 -
It is not an account in your name to and from which you pay and withdraw. It's a cash box.
In years past, the money you put in sat there a while and was paid out to someone else. Currently, it is spent the moment you put it in. And before very long, it will be spent BEFORE you put it in.
That's when the system will be broke.0 -
i remember first mmarried and taking home $290 a month from a full time job....and $25 bought a weeks worth of groceries, rented home was $50 a month, gas 29cts/gal, local tiny dairy had milk at 50cts a gallon with thick layer of cream on top... ...inflation is the silent thief 0 -
That's where the money comes from that the government has been borrowing pilfering from the social security system for years 0 -
Politations have played with out SS money for years and just left IOUs 0 -
The worst part is that they are calling our hard earned vestige's into the S\S system.....entitlements!![:(!] 0 -
Think about Jose's deposits that he can never collect due to using a fake SSN. 0
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