Trump Proposes No Tax on SSA Benefits for Seniors

[rousemark]

Yes. I am very aware of that. There are also income caps on FICA assessments.

SS absolutely is a welfare program.

we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age."--
President Roosevelt upon signing Social Security Act

I dont mean its bad. Im stating a fact. SS is meant to be a social welfare program. Not a retirement account.

I am in favor of having SS in theory. And it is an essential part of many retirees survival.

And that is part of my point. It is essential for many. But we pay the largest amounts to those who dont need it. The average payment is $2k a month. But those who dont need the income.... are paid on average $4k per month. Now, how do you think that impacts what the low income beneficiaries receive?

People wanting to treat is as a retirement account, is exactly why it has become the monstrosity it is today. Benefits have grown to cover those who dont actually need it.... because "want whats theirs".... out of a social safety net system...

You may consider SS a welfare program but the government refers to it as INSURANCE. Unlike welfare programs, individuals pay directly into it and then receive benefits in porportion to what they paid. One reason for the shortfall i SS over the years the govt. has allowed people who did not pay their fair share to draw benefits. Plus, the trust fund has not been managed wisely over the years. But, those facts have nothing to do with the fact it is an insurance program. You can call a cat a dog but it will still meow.

 

[rousemark]

Yes. I am very aware of that. There are also income caps on FICA assessments.

SS absolutely is a welfare program.

we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age."--
President Roosevelt upon signing Social Security Act

I dont mean its bad. Im stating a fact. SS is meant to be a social welfare program. Not a retirement account.

I am in favor of having SS in theory. And it is an essential part of many retirees survival.

And that is part of my point. It is essential for many. But we pay the largest amounts to those who dont need it. The average payment is $2k a month. But those who dont need the income.... are paid on average $4k per month. Now, how do you think that impacts what the low income beneficiaries receive?

People wanting to treat is as a retirement account, is exactly why it has become the monstrosity it is today. Benefits have grown to cover those who dont actually need it.... because "want whats theirs".... out of a social safety net system...

SS was not designed to just be for those who "need" it. It is a contract between the taxpayer and the government that if they pay into it, they will receive benefits as promised.

 

[rousemark]

At least I haven't seen the argument that you could invest the SS amount privately and receive a larger benefit. That is true if you are only talk about the retirement benefits but not when you take into account the survivor and disability benefits.

 

[Special Agent]

Trumpster fire stock market crash unalived another 25k of my portfolio today. I am going to need my SS more than ever now!!!!

 

[scagnt83]

A: From 1937 (when the first payments were made) through 2009 the Social Security program has expended $11.3 trillion.


A: From 1937 (when taxes were first collected) through 2009 the Social Security program has received $13.8 trillion in income.

Spent $11.3t in benefits

Taken in $13.8t in taxes

That is not self supporting

 

[scagnt83]

You may consider SS a welfare program but the government refers to it as INSURANCE. Unlike welfare programs, individuals pay directly into it and then receive benefits in porportion to what they paid. One reason for the shortfall i SS over the years the govt. has allowed people who did not pay their fair share to draw benefits. Plus, the trust fund has not been managed wisely over the years. But, those facts have nothing to do with the fact it is an insurance program. You can call a cat a dog but it will still meow.

Not the Old Age benefit. Its referred to as a "retirement benefit".

SS Disability is referred to as Insurance.

Social Security in retirement

The Social Security retirement benefit is a monthly check that replaces part of your income when you reduce your hours or stop working altogether.

www.ssa.gov

 

[Special Agent]

Spent $11.3t in benefits

Taken in $13.8t in taxes

That is not self supporting

There are future obligations that WILL be paid out unless Trump ruins that that too

 

[sman]

I called it a Social Safety Net. Repeatedly.

And I pointed out that it is the main income for many retirees.


SS has changed over time vs. what it originally was intended to be.

"we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age."--
President Roosevelt upon signing Social Security Act


It was never intended to provide millionaires with supplemental income during retirement. And that is a major reason it is no longer sustainable.




I have not called you anything derogatory.

I paraphrased what you stated. And described the real world impact.

"You want to opt out, and not contribute."

If me describing the impact of your stated desire brings up strong emotions, thats on you.

We all know what you have implied. You can lose me on the feigning innocents. We'll end it here agreeing to disagree.

 

[Special Agent]

trump does car commercial for Tesla in front of White House today while stock market burns down, Honest Don said he can get you in a Tesla for as low as 299 a month -everybody rides! I AM NOT MAKING THIS SHIT UP!!!!

 

[sman]

trump does car commercial for Tesla in front of White House today while stock market burns down, Honest Don said he can get you in a Tesla for as low as 299 a month -everybody rides! I AM NOT MAKING THIS SHIT UP!!!!

The horror