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White people have 13 dollars for every dollar held by black Americans
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zz912
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Something that hasn’t been touched upon yet in this thread: The VAST wealth transfer that is completed by Social Security. On average, a black man will transfer something like $15k of wealth to a white woman over the course of his life through Social Security. (The reason for this is that black men live the shortest, and white women live longest, so they pay in much more than they receive, and white women receive much more than they pay in).
Social Security is a vicious, evil Ponzi scheme that robs people of real wealth. It takes 12.4% of your income, give a NEGATIVE 1% rate of return, and has almost NO benefit for your family. If absolutely ANYONE else was doing something like this, they would be in jail until their greatgranchildren’s grandchildren were dead.
My family just experienced this. My mother passed away last year, and she didn’t live long enought to receive any SS benefit. So she worked her whole life, from the time she was 15 until she died (45 years), with the federal govt receiving 12.4% of her income that entire time. And they took all that money, and didn’t pay a SINGLE DIME to me or any of her family. They kept it ALL. But liberals call this compassion.
I did the calculations, and if that money had been put into a 401k style account, earning a very modest amount of return, it would have grown to somewhere around $1 million. (and she didn’t make very much money). I guess it’s just okay that her family didn’t receive a single dime instead of $1 million reflecting the lifetime of hard work she put in…
Social Security is a vicious, evil Ponzi scheme that robs people of real wealth. It takes 12.4% of your income, give a NEGATIVE 1% rate of return, and has almost NO benefit for your family. If absolutely ANYONE else was doing something like this, they would be in jail until their greatgranchildren’s grandchildren were dead.
My family just experienced this. My mother passed away last year, and she didn’t live long enought to receive any SS benefit. So she worked her whole life, from the time she was 15 until she died (45 years), with the federal govt receiving 12.4% of her income that entire time. And they took all that money, and didn’t pay a SINGLE DIME to me or any of her family. They kept it ALL. But liberals call this compassion.
I did the calculations, and if that money had been put into a 401k style account, earning a very modest amount of return, it would have grown to somewhere around $1 million. (and she didn’t make very much money). I guess it’s just okay that her family didn’t receive a single dime instead of $1 million reflecting the lifetime of hard work she put in…
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RGCheek
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MY neighborhood is about half black and half white. We have excellent real estate values and all my neighbors are great people. The neighborhood is composed of mostly professional, white collar people.
It’s economics and taking responsibility that makes the difference, not race.
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RGCheek
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Social Security was and is a safety net program. Some wont need it and some will need it. The lower half of the IQ curve isn’t likely to save for retirement, and many people have no family tradition of doing so either, and so the government forces them to save something.
Could it be administered better than it is? of course it can, but that is why we have things like laws, regulations and government in the first place; not everyone is responsible or looks forward.
You might look at this.
socialsecurity.gov/survivorplan/survivors.htm
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stinkcat_14
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They are the takers rather than the makers.
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EmperorNapoleon
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Agree. For example, there’s no mention of the fact that the rate of dropping out of high school and never completing secondary education is 36% higher for blacks than caucasians. Or the fact that blacks who do complete secondary education area less likely to attend college. Both of those things have a significant impact on income but I guess they don’t fit the narrative that blacks are victims of institutional racism rather than of their own choices in life like everyone else.
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CompSciGuy
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Even in those 150 years there was marginalization and a lack of privilege; many blacks were not allowed to attend universities around the country and were not hired by employers who hired white people. As a result there was a lot of poverty, crime and other problems among the black community especially in the south. It is hard to have incentive to do anything when society is trampling all over you. Now we have measures to make discrimination illegal but a lot of the problems that plagued the black community during that era have become exacerbated. There are many “leaders” like Jesse Jackson who make a living off of blaming the white man for every problem and teaching people that they are victims without actually addressing any of the problems in the black community or encouraging people to be real leaders or to be responsible. Real change will come when people of all races take responsibility for themselves, decide to be introspective and change themselves and their own lives on an individual basis.
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zz912
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I’m intimately aware of the survivor “benefits”, such that they are. Our family, and most families, don’t qualify for them.
That “safety net” took 12.4% of my mother’s income for 45 years, and she received exactly ZERO. If any private firm or company tried to run a retirement plan or safety net service in this manner, they would be in jail for centuries. But people excuse it because the govt is violating people and stealing from them.
And something else, the less fortunate that you seem concerned about in your post, well they are the ones who are abused the worst by this system, since they die earliest. Middle income and wealthy people do the best since they live longest. Well, actually the govt leaches and politicians do best since they get to spend all the money that never actually gets to people.
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Jeanne_S
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I am sorry for the loss of your mother and at such a young age.I agree with everything you stated.
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Kay_Cee
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My husband and I are lower class, economically speaking. We opted for me to be a SAHM to raise our two daughters instead of having the huge house, the nicer cars, and a bigger bank account. Now that my husband is retired, we are living on his pension. Our house isn’t much, but it is all paid for. Both of our cars are 20 years old but they still run. We shop for a lot of our clothes at thrift stores.
I don’t care about being rich in money and possessions. I care about being rich in God’s grace.
I don’t care about being rich in money and possessions. I care about being rich in God’s grace.
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Sarcelle
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Yes.My husband and I are lower class, economically speaking. We opted for me to be a SAHM to raise our two daughters instead of having the huge house, the nicer cars, and a bigger bank account. Now that my husband is retired, we are living on his pension. Our house isn’t much, but it is all paid for. Both of our cars are 20 years old but they still run. We shop for a lot of our clothes at thrift stores.
I don’t care about being rich in money and possessions. I care about being rich in God’s grace.
Money and possessions do not last. God’s grace is forever in spite of what diamond commercials try to tell you.
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livingwordunity
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The determining for who is considered a minority is 100% based on politics. For example, women are called a minority despite the fact that females actually make up the majority in the population of almost every country in the world. And I’ve seen white liberals calling a black conservative a racist because who is considered “black” does not include when it’s a black conservative.
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livingwordunity
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Also, conservative women are not welcome by liberal women’s groups such as NOW that claim to represent women.
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livingwordunity
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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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petra22
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bisco1
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at 94, my dad has gotten all his money back and everyone else’s!
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Ridgerunner
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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. I remember so well when Bush tried to partially privatize it on a voluntary basis. It ran into a firestorm of opposition, including from the USCCB; a position which, to me, seemed counter to the Social Encyclicals.
And whether it’s “fair” to blacks probably is irrelevant to whether blacks would vote to repeal it or not. I very much doubt any significant number would.
And whether it’s “fair” to blacks probably is irrelevant to whether blacks would vote to repeal it or not. I very much doubt any significant number would.
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zz912
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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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RGCheek
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My husband and I are lower class, economically speaking. We opted for me to be a SAHM to raise our two daughters instead of having the huge house, the nicer cars, and a bigger bank account. Now that my husband is retired, we are living on his pension. Our house isn’t much, but it is all paid for. Both of our cars are 20 years old but they still run. We shop for a lot of our clothes at thrift stores.
I don’t care about being rich in money and possessions. I care about being rich in God’s grace.
You are already wealthier than 99% of the human population.
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zz912
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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.Sorry, too, for the loss of your mother.
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