How many think they going to get $5,000 per month instead of SS payment?

I dunno, I don't get SS payments.

I think it's more likely the democrats will reduce what we are getting already. At least that's what they seem to be leaning toward.

+1

I think it will eventually become “means” tested. Meaning if you saved and lived responsively and are set financially, the feds will say you don’t need it, so we’re giving your SS to others, who “need” it.

Don't think much about it and, frankly never planned for it.

Exactly. It'll just be another add-on to income taxes and the payouts will just be another form of welfare.

I think this is pretty likely. SS is already fairly progressive. But I see some type of means test that reduces your benefit if you have income like mandatory distributions from a IRA/401K or a pension.

A classic troll thread.

At 49, my retirement plans do not take SS into account.
It’s just income tax, not an insurance for folks my age. No way there’s anything left to distribute 15 years from now.

I expect mine to be taken away.

This.

We planned our retirement based upon not getting it.

If we do, it's just gravy.

David, my dear mother told me in the early 60's to not count on it.

I'm curious why you would feed the troll. Why?

Everyone should earn a living doing productive work.

There should be ample opportunities for everybody except the severely handicapped to work and to earn a fair living, but what about encroaching computerization, where jobs once performed by people are no longer an option?

What happens when there are simply not enough jobs for humans?

What is to be done?

What if you live in a country that has always held the right for evryone to work and make their own way, but then decides to give it all away and penalize you for helping to build it? How would you deal with that? What if you scrimped and saved and worshipped at the altar of 401k and then two weeks before you decide to use it, they take it away and give it to foreigners? I could go on...but have you thought of this?

I did too, but then things started hitting from all sides in 2007 and have continued to some degree or another. Without SS I'd be up a schidt creek now.

Recently I heard SS was going to be eleminated and seniors are going to receive $5,000 per month. Most rumors don't happen.

Stop the reproduction of non productive humans?

I can see something like this as a way for the government to basically back door its way into IRA/401K but I think SS will stay around even if the government has to raise taxes to “pay for it.”

SS is what the government wants more of not less IMO. The government taking our money and then redistributing it back to us in a way that the government comes out ahead financially and puts them in control at the same time.

It’s the ‘third rail’ of politics.

That's one option.

How much of that would they take back in taxes?

Huh?

$5k a month instead of my SS check?

Where do I sign up?

Will I have to get a "mark" though? You know, one of those beastly ones?

Mark me! Mark me!

Do you have a link, a reference to where you heard that "rumor".\?

Seems I kinda remember hearing way back in the olden days, that's kinda why SS got started.

This...

Have not considered SS as money needed when time to quit working.

Don't know why anyone would do it.

While it would suck for folks that have paid in all of those years not to get their 12.00 dollars a month might break them.

Snork

Just applied for SS. First check coming next month. Figured I'd get what's coming to me before it's gone, hell I paid into it for decades.

The origin was because back then men tended to marry younger women. The male life expectancy was under 65 and there were large numbers of destitute widows. SS was created initially to help them.

Now, what kind of thinking is that?

Nah, just that after taxes the 5K is $1,900 and inflation will kick that in the pants....

Everybody's got it coming.

Those in power are going to clear the decks by killing people. It will start by first inflation, then shortages (water and food), then disrupt the supply of life saving drugs like insulin or heart failure drugs or COPD inhalers. Epidemics. Who knows, this COVID vaccine maybe the method. The Regressives, Nazis, and Commies have always gotten rid of excess population. Hell, in this country FDR did everything he could to get in on WW2. WW2 set population back multiples of millions and we could of sat out both WW1 and 2.

Yes, or so they say.

Some of us paid into it for 50 or so years though.

I prefer to use mine up instead of leaving it there for someone who hasn't.

What about the consumer base? The machines can churn out an unlimited supply of goods, provide all the services....but given a major cull, there are not enough consumers keeping the economy afloat?

You do realize it's been spent about twenty times over and used up? Ain't leaving anything....

Some seem to forget that the rich got that way from having a lot of consumers around to buy their cheaply made goods at a price the wages they were paying their consumers allowed them to make a profit.

I think it might be called something like................................Capitalism?

Stasis or retraction is not very profit oriented in most cases.

Only through mismanagement.

Shall I leave "my share" there for them to send to some scheidthole country in an aid package?

Mismanagement?

No, it's done on purpose.

"Your" share has been junk bonded for the last 40 years.

Spend some money to protect our borders NOOOOOO
Share all the money YESSSSSSSSS.

Folks have been saying that for the last 50 years.

It'll happen when they figure they don't need the over-fitty vote anymore.

Bring in enough younguns from south of the border and that fixes that.

Someone told my wife. She told me. It has to be true 'cause it sounds great!

Woke up this morning to find mine safely in the bank.

It’s our seven-year anniversary! That’s copper and/or wool, for those of you wanting gift ideas.....

Them copper diabetes compression socks?

I’ve been getting mine for two years. I pretend im a welfare recipient

Nothing left in 15 years? There's nothing there now but a stack of paper. It's paid from the general fund and always has been. What they call the SS Trust Fund is a stack of government bonds. The SS Admin is required to invest the excess money so they buy US Treasury bonds - all from the general fund. There is no SS bank account, only those bonds. When money is needed, they just cash a bond which is paid from the general fund. From the beginning, it's been a coverup to make people think there's this huge SS bank account out there somewhere.

When they say that the fund will go broke in 30 years, that's technically not true. That'll be the point when tax collections no longer cover benefits paid out. Those mega billions in bonds will still be there, payable by our tax money since congress has spent every last nickel of what SS has paid for the bonds. The whole thing has been criminal from the start as the government doesn't have the money to pay off the bonds should SS try to cash them.

Ok... I'll bite.

So, how are they going to pay ME back for all that money they took from me all those years with no interest that I could have invested elsewhere?

I'm with ya, hanco. I think it will eventually be completely stolen, at gunpoint.

Yeah? Don't think so? Then what are those 5,000 troops for that are STILL in DC?

Should we apply for EBT?

Laughing.

Better not. I’m allergic to lightning.⚡️

I've got four more years before I am eligible for SS and I plan on taking it then. If its still around.

I just found out I have to pay back my last two stimulus checks because I made too much money last year. Wouldn't surprise me a bit it SS went the same way...

My SS will be penisalized when I retire because I have another pension, won’t be surprised if it’s all taken.

I retired seven years ago at age 51

I only had one question... whould I be able to keep the health insurance that I currently had if I was willing to pay for it.

They told me yes and I was super happy. I started to walk away.

They asked me did I want to know about the rest of it?

I had no idea they would actually pay me not to work and that someday the government would also send me a check under something called Social Security.

I have since learned that it is a beautiful thing to expect absolutely nothing from the government and be surprised when you get something.

I TRUST THOSE BASTARDS... ZERO... ABSOLUTELY ZERO.

How many 60-year-old illegals are crossing the southern border........part of the amnesty package will include SS for them.

There will be plenty of the worthless electorate that praise any means-testing......if it means they still get theirs.

Class-envy......against the thinking, frugal, middle-class.

I have my pension through the state of Florida and my ss will not be penalized because of it. It does not fall under their windfall provision. I know numerous guys that recieve their pension and their ss is not touched. If you paid into social security it should not be reduced.

So far so good I have been getting it a few yrs now.

I don't have the quarters for SSN but I would be penalized. My wife has the minimum and it could be penalized because of my pension.

Too much money being given to the dead ass ne'er-do-well minorities, they having never worked for it, and making the value of everyone else's dollar go to schit.

The problem with free money, it makes worked for money worthless.

g

I have a vested pension that I haven't drawn yet. As far as I know SS won't penalize me for it.

From what I read, pension benefits do not normally affect one’s ability to draw SS at all. I am NOT an accountant, but it sounds like you should consult one

Besides, the idea of being penisalized sounds pretty creepy.

Since I’m not black, I expect to see nothing from SS.

Have never heard of that either. Could you provide details?

I know my mother (who passed away in 2012) did not get penalized on SS due to her pension, earned from working for 40+ years as a university professor.

On the other hand, I told her my wife and I did not count on getting anything from SS, even though as both of us are self-employed, we paid 15% of our taxable income in SS tax. She was a llittle shocked by that, though this worked out OK.

On the other hand, neither of us feel anything approaching guilt from drawing SS income on what we paid in over the decades.

John,

I'll check later with my brother about his situation, similar to what Hanco posted. Something he called a "windfall" penalty or some such. He worked for some State and Local gooberment agencies over the years along with regular SS pay in types. I have a few things to do, but will try to remember to text him tonight.

When they decide to do it......................


They're NOT going to pay you back.

They'll just tell you it was a tax you paid to be distributed as they see fit...............like all our other taxes.

For government employees there is a government pension offset.. hanco, you a govt employee?

Penalized... not penisalized

As our population continues to age, it would seem like political suicide to sharply reduce SS benefits. Old folks vote in big numbers. Not many elected officials are willing to risk their jobs. I believe most people will continue to receive some $$. It would not surprise me to see it start later and perhaps be “means tested”. Lately it seems popular to try to stick it (further) to high income earners. This would be one more way.

If ss taxes were paid there is no penalty.

My understanding is that your SS will be affected only if your employer didn't pay your social security. I draw a pension plus SS. My SS was reduced because I didn't wait until I reached my retirement age, I retired a year early. Talk to your benefits rep.

Thanks for the info. As an aside, if no SS taxes were paid, why would one expect to collect any benefits at all?

Go to the ss site. They have all the info.

Every parasite in America is receiving SS, along with other benefits. There are hundreds of thousands of government employees who's only job is to make sure they get it.

John, and others.

As Scout mentions, it depends on if SS taxes were paid on a "private" pension, Or a gooberment pension as in State or Local.

https://www.ssa.gov/benefits/retirement/planner/wep.html

In some cases, even though a person worked for years in a SS taxed job, and apparently had the quarters necessary to qualify, their SS benefits will be cut due to the non taxed pension they are drawing from.

Payroll taxes are all essentially stolen at gunpoint, else we wouldn't be 25 gorillian in debt and still printing.

The gunpoint end should be at the other end at this stage, but getting ripped off 20 times and getting paid back with inflated currency sure makes everything taste better.

It's not like anyone is serious about paying anything back, down or sideways, so why the taxes? Just print money...

One method that the government uses is to offer SS at 62 years old. They save 25%. This is done while delaying eligibility to 67 years old. All this is going on while people are dying. The combination of all these programs saves them a lot of money.

Had I known the situation would turn into the dumpster fire it is today, I would have taken mine at 62.

I told my brother who is 60, get it the second you turn 62. He's in the process of retiring now, anyway.

I have re-visited the decision many times. For me it comes down to future cash flow, with health coming in a close second. The younger people with no pension who have to waite to 67 is a more difficult decision.

My brother's got plenty of dough. Advice was more along the line of get it while you can before these communists rewrite the rules and redistribute what he's paid in for the last 50 years. He too has worked his ass off all his life. He'll be up rubbing elbows with slum and rene soon. That'll be a picture.

When you can eat at Arbys or KFC any time you want, all bets are off. Your brother should pray for a SS buy out program. Instant cash would be a big gift.

I waited until 66 ( my full retirement age) I’m still working at 68. That extra money every month is nice. Mine is only 1650.00, but pays Medicare plus my Medicare penalty and our property taxes. What’s left will go towards the extra tax we will have to pay April 15.


My Medicare costs me double because we make too much.

The average Social Security payment is roughly $1500/month, the Government is going to replace that with $5K/month? My father worked for the US Army/DOD under the "old" retirement system where you didn't pay into SS and you did not draw SS. He worked there for 27 years plus 2 years in the military. Prior to working for the DOD he worked for years (69 SS quarters) in private industry paying full SS. When he went to collect SS they reduced it by 66% because of the DOD pension offset. He bitched about it for years and I'm betting up in Heaven he's still bitching about it! He should have drawn full SS because he worked for it and paid into it. SS and his Congressmen told him sorry, but tough chit!

It sounds to me like you're talking about the penalty if you retire before 66. They limit your ss by how much you make. When you turn 66, the penalty disappears and you can earn as much as you can without penalty.

My heart goes out to your bro dirt. Maybe slummy can spare him some of Nana's beans and rene can get him a pass to the CiCi's.