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Social Security???

halfnelson

By halfnelson,
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halfnelson Rookie

halfnelson

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WHO TOOK MY MONEY?
 
Actually,  Democrat  President Kennedy and Sergeant Shriver were the first ones to misuse the Social Security account.  They used Social Security funds to start the Peace Corps.   Not the first or last time our money has been taken from American citizens and given to foreign nations.
 
Things every US citizen should know and remember about Social Security and changes made:
 
A History Lesson on Your Social Security Card . . . Just in case some of you young whippersnappers (& some older ones) didn't know this.   It's easy to check out, if you don't believe it.   Be sure and show it to your family and friends .   They need a little history lesson on what's what and it doesn't matter whether you are Democrat or Republican . . .
 
Facts are Facts
 
Social Security Cards, until the 1980s, expressly stated that the number and card were not to be used for identification purposes.   Because nearly everyone in the United States now has a number, it became convenient to use it anyway and the message,  NOT FOR IDENTIFICATION, was removed.
 
Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program.
 
He promised:
 
1.) That participation in the program would be completely voluntary.
No longer voluntary.
 
2.) That the participants would only have to pay 1% of the first $1,400 of their annual Incomes into the program.
Now 7.65% on the first $90,000.
 
3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year.
No longer tax deductible
 
4.) That the money the participants put into the independent 'Trust Fund' rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other government program.
Under Democrat President Lyndon Johnson, the money was moved to the General Fund and Spent.
 
5.) That the annuity payments to the retirees would never be taxed as income.
Under Democrats Clinton & Gore, up to 85% of your Social Security can be taxed.
 
Because many of us have paid into FICA for years and are now receiving a Social Security check every month and then finding that we are getting taxed on 85% of the money we paid to the Federal government to 'put away' -- you may be interested in the following:
 
Q: Which Political Party took Social Security from the independent 'Trust Fund' and put it into the general fund so that Congress could spend it?
A: It was Lyndon Johnson and the Democrat-controlled House and Senate.
 
Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?
A: The Democrat Party .
 
Q: Which political party started taxing Social Security annuities?
A: The Democrat Party.  Al Gore cast the 'tie-breaking' deciding vote as President of the Senate while he was Vice President of the U.S.
 
Q: Which political party decided to start giving annuity payments to immigrants?
A: That's right! Jimmy Carter and the Democrat Party. Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democrat Party gave these payments to them, even though they never paid a dime into it!
 
Then, after violating the original contract (FICA),  the Democrats turn around and tell you that the Republicans want to take your Social Security away!    What's to take away.   It has already been decimated by the Democratic Party over the last 50 plus years.
 
And the worst part about it is that  uninformed citizens believe it!
 
 
This is an older email I just received...pretty interesting-don't know if it's all true, but sounds like it easily could be.
 
 
 
 
 
 
 
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BizCT Grand Master

BizCT

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Every year the max contribution goes up and up. Looks like first $132,900 for 2019. While I enjoy the paychecks with the extra 6.2% after passing the threshold, I wonder why they don’t raise the max to say $500K or $1M? It would add a ton of $ to SS fund


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Nomad Grand Master

Nomad

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Wife waited a few years , my guy wants me to wait till 70 . I’ll most likely draw at 67 . My family lives until 90s and 100, my break even year is 75 .

I believe at 62 I can claim an amount equal to half of hers, need to check that and make sure it doesn’t effect mine later on .

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GreeneHunter Grand Master

GreeneHunter

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That has always been the question ... draw at 62 or full 65-67 (or whatever your full is) The question should be what is your health like at 62 as opposed to what it will be at a later date . The last thing you want to do is work until you get full at 67(or whatever) so you can sit in a nursing home and give them more money ! Its a gamble .... like ODYSSEUS said above " Take the Money and Run "  at least while you can !

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Nomad Grand Master

Nomad

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One can protect your money from nursing homes , we did for my Mom, and it’s not beating the five year look back . Cost us 17k to set up ,protected six figures .

Wife and I are looking into trusts ,but have a lot to learn ,the elder care attorney we used for my Mom , also does them ,we need to meet .

Those that don’t protect their money, the nursing home charges the same no matter what your SS is ,you don’t give them more .  Although our attorney negotiated our payments as well . Elder care attorneys know all the people that run them and can work wonders .

Edited by Stay at home Nomad
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BizCT Grand Master

BizCT

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One can protect your money from nursing homes , we did for my Mom, and it’s not beating the five year look back . Cost us 17k to set up ,protected six figures .
Wife and I are looking into trusts ,but have a lot to learn ,the elder care attorney we used for my Mom , also does them ,we need to meet .
 


Irrevocable Trust. Everyone should use them.


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Steuben Jerry Proficient

Steuben Jerry

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I'd love to step back at 62, but that's a big difference to push it a few years to 65 or a bit longer. I pound what I can into my 401k, but I've sought little real financial guidance in that regard. Need to step up my game there. NYS taxes makes a big difference in what I'll need to plan for.

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eaglemountainman Enthusiast

eaglemountainman

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57 minutes ago, GreeneHunter said:

That has always been the question ... draw at 62 or full 65-67 (or whatever your full is) The question should be what is your health like at 62 as opposed to what it will be at a later date . The last thing you want to do is work until you get full at 67(or whatever) so you can sit in a nursing home and give them more money ! Its a gamble .... like ODYSSEUS said above " Take the Money and Run "  at least while you can !

At 62, I got while the gettin' was good. At 24K a year, it would take some time to break even. i'm using that money this year on a Wyoming pronghorn hunt, and next year on a Wyoming mule deer hunt.

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BizCT Grand Master

BizCT

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At 62, I got while the gettin' was good. At 24K a year, it would take some time to break even. i'm using that money this year on a Wyoming pronghorn hunt, and next year on a Wyoming mule deer hunt.


You draw a tag or OTC?


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Nomad Grand Master

Nomad

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14 minutes ago, eaglemountainman said:

At 62, I got while the gettin' was good. At 24K a year, it would take some time to break even. i'm using that money this year on a Wyoming pronghorn hunt, and next year on a Wyoming mule deer hunt.

Most folks 62 vs 67 the break even year is age 75 . My family lives 20 plus year past that ,so a six figure gain by waiting . My parents were still, traveling into their late 80s .

SS is only one leg of the stool ,frankly we don’t need it ,but it will allow us to not draw off others till RMD .

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BizCT Grand Master

BizCT

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I have to draw, and I don't know much about it, but outfitter says there are 2 types of draw and the pricier one is just about a lock.


Yup the special vs the regular. Who you hunting with? I went to Wyoming in 2012 and 2014. Both times I did lope/Muley combos. Since then I’ve been buying PP’s for elk, mule deer and lope in WY.


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eaglemountainman Enthusiast

eaglemountainman

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20 minutes ago, Stay at home Nomad said:

Most folks 62 vs 67 the break even year is age 75 . My family lives 20 plus year past that ,so a six figure gain by waiting . My parents were still, traveling into their late 80s .

SS is only one leg of the stool ,frankly we don’t need it ,but it will allow us to not draw off others till RMD .

Me too. I'm a retired IBEW electrician and have a great pension plus 401K and other annuities. But the SS makes a nice boost. Thirteen years is a long time just to break even, but what ever works for each individual is what matters.

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eaglemountainman Enthusiast

eaglemountainman

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19 minutes ago, Biz-R-OWorld said:

 


Yup the special vs the regular. Who you hunting with? I went to Wyoming in 2012 and 2014. Both times I did lope/Muley combos. Since then I’ve been buying PP’s for elk, mule deer and lope in WY.


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I'm going with Tangle Ridge Outfitters. If I have a good experience, I'll book a Muley hunt for next year before I leave. I've been messaging with a few guys who have been repeat clients there for years. They all have nothing but good things to say, and are booked again this year. That's exactly what I'm looking for, a place that I can return to and feel comfortable year after year.

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