White people have 13 dollars for every dollar held by black Americans

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zz912 said:
Thank you to you and Jeanne. We are at peace with her passing, and pray often for her soul. My point wasn’t though to generate sympathy, but to give a real-world example of the harm caused by socialist policies and misguided good intentions.
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My condolences for the loss of your mother also.

Social Security is not socialism, but modeled more like an insurance pool. People pay in, but most wont get what they pay in over the entirety of having the insurance.

A term life policy is similar, and I paid I don’t know how much into it and never got a dime out of it, only a little peace of mind.

The insurance companies total payout is less than the total paid in or else they go out of business.

Social Security is similar, but not designed to make a profit so much as provide a little peace of mind to everyone.

But some, like your mother don’t get back what they paid in because they pass away before they could collect. I don’t know why you wouldn’t qualify for the death benefits but I know several people who have gotten it.

Myself, I am applying for disability due to a herniated disk between my T7-T8 and it has ended my career as a software engineer. According to SS guidelines I should qualify for disability sine my career is over due to inability to work at a desk, standing or sitting.

I may be ruled against, I don’t know, but it is there for most people who can no longer work. I am just in a very unusual case.
 
bisco1 said:
at 94, my dad has gotten all his money back and everyone else’s!😛
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Herein lies the problem.SS has always been a pay as you go fund.At it’s inception,many who had paid little to nothing,started drawing benefits.Add to that the debt we have left to our children and future generations is shameful,the mismanagement of SS funds( stealing from it by Washington), all the other egregious misuse of these funds,is SHAMEFUL. Our kids and grandkids won’t get diddley squat.But hey ,who cares,right?😦
 
the bishops concerns are the same as Jesus’, our souls, the poor, the sick, the widow’s and etc., and that’s how it should be. they are not economists, and neither are we. (for the most part)
 
RGCheek said:
Social Security is not socialism, but modeled more like an insurance pool.
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It most certainly is socialism. There is no contractual obligation of future benefits, there are no true assets in the SS trust fund, and if an insurance pool was run like SS, everyone involved would be jailed for decades, if not longer.
RGCheek said:
People pay in, but most wont get what they pay in over the entirety of having the insurance.
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It positions itself as similar to an annuity, providing income in old age until you die, so that you don’t run out of money. For an annuity, if the person has not converted the annuity to income-producing, if the person dies, the value of the annuity is returned to their estate. Why is the federal govt unable to even come close to mimicing what the private market does a routine? (Not smart enough to manage the funds properly?)
RGCheek said:
A term life policy is similar, and I paid I don’t know how much into it and never got a dime out of it, only a little peace of mind.
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Let’s look a little into your analogy. What EXACTLY did they insure!!! They provided NO coverage at any time, nor did they provide any protection against anything. With your term policy, if at any point you died during that policy period, they were obligated to pay. Well my mom did die, and they didn’t pay anything. They also claim to provide income during old age. Well my mom didn’t reach old age, and they provided no coverage or income of that. So. What. Did. They. Do. For. The. Money???

And let’s not forget how much money too! 12.4% of someone’s income is a LOT of money over almost 5 decades of work. That is a LOT of compound interest they are losing out on.
RGCheek said:
The insurance companies total payout is less than the total paid in or else they go out of business.
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And let’s look at SS. They’ve taken ALL the money paid in, and spent it. All that’s left are some worthless IOU’s in file cabinets in West Virginia. Those IOU’s are from a federal govt that is $18 TRILLION in debt with no feasible way to pay it back. There is also the demographic bomb that is beginning as 10,000 Baby Boomers retire every single day! The payments out of SS are skyrocketing and not going to come down for another 20 years.
RGCheek said:
Social Security is similar, but not designed to make a profit so much as provide a little peace of mind to everyone.
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And what little peace of mind they provide, all for the low low price of 12.4% of your income!!! What a bargain!!!
RGCheek said:
But some, like your mother don’t get back what they paid in because they pass away before they could collect. I don’t know why you wouldn’t qualify for the death benefits but I know several people who have gotten it.
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You have to be under 18, or a dependent. I’m not close on either. So my mom paid in for 45 years, for absolutely no coverage, no benefit, and no wealth creation, and at the end her family saw NONE of this money, ever.

It’s monstrous and evil.
 
bisco1 said:
the bishops concerns are the same as Jesus’, our souls, the poor, the sick, the widow’s and etc., and that’s how it should be. they are not economists, and neither are we. (for the most part)
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The laws of economics are similar to the laws of gravity and physics. Ignorance of them reaches about the same result. Pretending you can ignore them yields catastrophic ends.
 
zz912 said:
Oh how I would love to give some education to the bishops about economics, finance, and politics. For so many of them, they are so lacking in knowledge and understanding about the real world consequences of their favored political views. Hopefully with some information about the evil of this Ponzi scheme they might change their minds and advocate for true justice.
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Something one needs to understand about the USCCB. It is extraordinarily rare for something coming out of the organization to really be the “voice of the bishops”. Typically, it is a pronouncement by one bishop or two that are deeply involved in the organization, usually the head of some subdivision of the USCCB, or it is sometimes simply a conclusory statement coming from some layperson or persons employed by the USCCB.

Of the statements attributed to “the bishops” I have seen on CAF, I have never seen a single one that really was adopted by the bishops as a whole so as to be binding in conscience. The opinion of one or two bishops, like that of one of the lay employees, is just their own opinion. We owe them some consideration because of their position and the clerical state of those who are clergymen, but it is no more binding on us than the opinions of our uncle Charlie, UNLESS it is adopted by at least 2/3 of the bishops pursuant to a mandate by the Vatican, and then approved by the Vatican after the fact. Almost never do you see that.

The USCCB is capable of terrible judgmental errors, like pledging a million dollars to ACORN just before the head of ACORN’S brother stole a million dollars of its funds.
 
livingwordunity said:
The same thing happened when my mom died. She never received a cent of the social security that she had paid into her whole life.
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That is because social security is and always has been a welfare program. In her case, she got exactly as she deserved. The problem is with social security, many people get much more than they deserve. And that is what is bankrupting the nation. Working people should not be forced to sacrifice for people who are too lazy to work.
 
zz912 said:
Oh how I would love to give some education to the bishops about economics, finance, and politics. For so many of them, they are so lacking in knowledge and understanding about the real world consequences of their favored political views. Hopefully with some information about the evil of this Ponzi scheme they might change their minds and advocate for true justice.
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I would say that there is a huge lack of understanding of economics in this country and that it is not limited to those on the liberal end of the spectrum. There is plenty of ignorance of economics among conservatives as well.
 
zz912 said:
The laws of economics are similar to the laws of gravity and physics. Ignorance of them reaches about the same result. Pretending you can ignore them yields catastrophic ends.
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Actually, the laws of economics are not as precise as the laws of gravity. We don’t have as detailed of an understanding of the microfoundations of economics to make precise predictions on many economic issues. Part of the problem is that many of the people who complain about the lack of understanding of economics, don’t actually understand economics very well themselves.
 
Ridgerunner said:
It’s okay to complain about social security retirement, but one has to remember it’s politically popular. I don’t think there’s a ghost of a chance of overtly doing away with it or “privatizing” it.
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One catalyst for reform will be when the so called trust fund runs out of money. Then politicians might be forced to make a choice, either raise taxes or cut benefits. I don’t think working people will stand for having their taxes raised the benefit people who don’t work.
 
they’ve raised the ss tax a number of times through the years, with very little political fallout.
 
livingwordunity said:
The same thing happened when my mom died. She never received a cent of the social security that she had paid into her whole life.
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stinkcat_14 said:
That is because social security is and always has been a welfare program. In her case, she got exactly as she deserved. The problem is with social security, many people get much more than they deserve. And that is what is bankrupting the nation. Working people should not be forced to sacrifice for people who are too lazy to work.
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I don’t know how you figure that she deserved nothing back from social security.
 
s.s. is not welfare. you pay into it, with the assurance that you’ll get it back. it’s your money, if you live long enough.
 
bisco1 said:
s.s. is not welfare. you pay into it, with the assurance that you’ll get it back. it’s your money, if you live long enough.
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It should be past on to one’s heirs in the event that don’t live long enough.We have been forced to pay into SS.We have a right to it.Another gov’t scheme:-(
 
God established our government for our benefit. as catholics, we’re to obey and honor our leaders. sure, we can disagree, no problem.
 
bisco1 said:
s.s. is not welfare. you pay into it, with the assurance that you’ll get it back. it’s your money, if you live long enough.
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There is no contract with SS saying that you will get money back. It is very clearly a welfare program where we take from those who work and give to those who don’t work. The program can be changed or eliminated at any time.
 
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