Social Security Q&A Separating Fact From Fiction

[Razoo]

Separating Fact from Fiction

Social Security Q&A | Dollars & Sense

 

[Razoo]

The opponents of Social Security will stop at nothing in their long crusade to destroy the most efficient retirement system in the world.

Opponents have taken two tracks to attack Social Security. The first is to claim the system as it is will fail, and the second is to claim that privatization is a better way to provide for retirement security. The first claim was the favorite from 1935 to about 2001.

Then the privatization claim became the vogue. Now the first is back on the table.

With corporations routinely defaulting on their pension promises, more and more workers must rely on their individual wealth to make up the difference.

The stock market collapse at the turn of the millennium wiped out much of the financial wealth of middle class Americans, and the collapse of the housing bubble has wiped out much of their remaining wealth.

Making any cuts to Social Security now, either by raising the retirement age or cutting benefits, would have a huge impact on their remaining retirement income and are not necessary to “save the system.”

In fact, to make the most of the modifications currently being proposed by Obama's commission would be the height of folly.

With all the fear-mongering falsehoods flying around, it can be difficult to separate fact from fiction. Below, Doug Orr helps D&S readers do just this, with clear, and sometimes surprising, answers to many common Social Security-related questions.

Social Security Q&A | Dollars & Sense

 

[Bullseye]

The opponents of Social Security will stop at nothing in their long crusade to destroy the most efficient retirement system in the world.

Opponents have taken two tracks to attack Social Security. The first is to claim the system as it is will fail, and the second is to claim that privatization is a better way to provide for retirement security. The first claim was the favorite from 1935 to about 2001.

Then the privatization claim became the vogue. Now the first is back on the table.

With corporations routinely defaulting on their pension promises, more and more workers must rely on their individual wealth to make up the difference.

The stock market collapse at the turn of the millennium wiped out much of the financial wealth of middle class Americans, and the collapse of the housing bubble has wiped out much of their remaining wealth.

Making any cuts to Social Security now, either by raising the retirement age or cutting benefits, would have a huge impact on their remaining retirement income and are not necessary to “save the system.”

In fact, to make the most of the modifications currently being proposed by Obama's commission would be the height of folly.

With all the fear-mongering falsehoods flying around, it can be difficult to separate fact from fiction. Below, Doug Orr helps D&S readers do just this, with clear, and sometimes surprising, answers to many common Social Security-related questions.

Social Security Q&A | Dollars & Sense

Click bait for the low-info rubes.

 

[cpwill]

I would love to see the math by which Social Insecurity is somehow the most efficient retirement system in the world.

 

[Razoo]

Nobody is saying more than Social Security Insurance is a good bang for the tax buck. Damn Right and Medicare Insurance is attached to Social Security Insurance so that it is always paid for ...

I love my Social Security Insurance it is a nice supplement then again I'll never turn down money no matter what ......that would be stupid. Too MANY Wall Street Investments lose money every day = I CANNOT AFFORD TO LOSE MONEY. I prefer real estate to Wall Street no matter how many times Wall Street or other risky retirements take a hit l'll always have my real estate.

Don't be stupid and accept $900 -$1200 per month once the age of 65 is reached. Many retirement programs take hits throughout their period and many retirement programs get canceled ......

"With corporations routinely defaulting on their pension promises, more and more workers must rely on their individual wealth to make up the difference.

The stock market collapse at the turn of the millennium wiped out much of the financial wealth of middle class Americans, and the collapse of the housing bubble has wiped out much of their remaining wealth."

Social Security Q&A | Dollars & Sense

 

[Razoo]

The Work Site - Social Security​

https://www.ssa.gov › work
Social Security's Ticket to Work Program supports career development for Social Securitydisability beneficiaries age 18 through 64 who want to work.

The Work Site - Home - Social Security​

https://www.ssa.gov › work
Social Security's Ticket to Work Program supports career development for Social Securitydisability beneficiaries age 18 through 64 who want to work.

Social Security Works!: Why Social Security Isn't Going Broke ...​

https://www.amazon.com › Social-Security-Works-Isn...

"In Social Security Works!, two of our nation's leading policy experts explain in a clear and concise fashion how Social Security benefits are calculated, why ...

Social Security Works - Action Network
https://actionnetwork.org › groups › social-security-wor...
Social Security Works. Social Security Works leads the fight every day to expand and protect our Social Security system. Our Actions.

 

[bongsaway]

Click bait for the low-info rubes.

Yeah except W wanted to privatize social security, it would give those with more of an opportunity to get a piece of your social security. Are you really trying to say republicans don't want to get rid of social security and medicare?

 

[OrphanSlug]

If more people understood how Social Security is handled day to day over 90% of the debates we have on Social Security would go away.

BTW, the link is not entirely accurate... too much political context clouding the function context.

 

[Bullseye]

Yeah except W wanted to privatize social security, it would give those with more of an opportunity to get a piece of your social security. Are you really trying to say republicans don't want to get rid of social security and medicare?

As I recall Bush proposed a system where a person could divert a small portion of his FICA to portfolios that invested in stocks or bonds. BTW: SS and medicare are doing away with themselves.

 

[Buckeyes85]

Yeah except W wanted to privatize social security, it would give those with more of an opportunity to get a piece of your social security. Are you really trying to say republicans don't want to get rid of social security and medicare?

Republicans are in a tight spot. They want to rail against social security, yet such a large percentage of seniors vote their way and would revolt from their rockers, recliners and wheel chairs if the pubbies messed with what they deem to be their birthright.

I readily admit its not a good system, but such a political hot potato for both parties that no one wants to touch.

 

[bongsaway]

Republicans are in a tight spot. They want to rail against social security, yet such a large percentage of seniors vote their way and would revolt from their rockers, recliners and wheel chairs if the pubbies messed with what they deem to be their birthright.

I readily admit its not a good system, but such a political hot potato for both parties that no one wants to touch.

I take it you are not old enough to collect social security because if you were you wouldn't be saying it's not a good system. I can tell you this much, if puts the fallacy that the government can't run anything to a rest. My checks are on time except when they come early due to a weekend or holiday. They are NEVER late.

 

[Razoo]

A good insurance investment ........ with repubs still around we will always need insurance

Investing SSI dollars in Wall Street will not guarantee the money.