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It comes from the premiums paid in. Federal Insurance Contributions Act tax
LOL, self funding insurance that comes from where? You just don't get it. Light bulb go off yet?
I never said anything about intent.That was never the intent of SS and you ought to know that.
So let me see if I have this right, you believe that when you put your money into SS and because more money went in than out because of fewer retirees, it is a surplus? Is that liberal math or what? Your money going into SS is an obligation owed to you in the future, the fact that it was spent on something other than you is a debt to the govt. that has to be repaid at some time. There was no Clinton surplus due to intergovt. holding obligations in the future
Simple question, in 2000, 480.6 million dollars went into SS and only 330.8 million came out. Isn't that 480.6 a future obligation? How can a liberal claim there was a surplus when the receipts are owed in the future?
Yes, yes....insurance...is "ponzi" scheme.
Tell us again about your vast business experience.....opcorn2:
Perhaps you should learn to get on topic. Being over eager to fluff for phony stories lends itself to missing the subject.
The angry republican rhetoric. When the data doesn't support u your POV, we must redefine terminology as a means of rationalization.
Typical nonsense spewed by the financially illiterate.
LOL....so you have described NOT a ponzi scheme.Where do the insurance funds come from that you put into SS. I am convinced you have no idea how foolish you sound. You really have no concept of where the money comes from that you will get from SS. The Federal Govt. doesn't buy premiums with your SS contribution, the Federal Govt. is self funded. It will borrow, print, or take the money from future contributors to SS to pay you your SS supplemental income. I would have thought someone of your superior intelligence would understand that. Liberals continue to disappoint me.
I never said anything about intent.
Further, don't start going off on SS funds used in the budget, or I will have to remind you AGAIN about Greenspan and Ronnie pushing the big increase in FICA to make the budget look better to cover for Ronnies massive defense spending increases.
LOL....so you have described NOT a ponzi scheme.
It's not a Ponzi scheme because it has a constant supply of investors, a Ponzi scheme depends upon deceit to get new investors and eventually goes broke when people no longer invest in the scheme. What is it about conservatism that makes people so ignorant?Aw, yes, another liberal heard from. Your money used to pay someone else's retirement and someone else's income used to pay yours. That isn't a Ponzi Scheme? What is it about liberalism that creates people like you, good people who will fight to the death for the indefensible. Simple question, is your contribution being returned to you when you retire or is it going to come from someone else?
It's not a Ponzi scheme because it has a constant supply of investors, a Ponzi scheme depends upon deceit to get new investors and eventually goes broke when people no longer invest in the scheme. What is it about conservatism that makes people so ignorant?
FFS, you simply forget how many times before we have gone over this, do I need to get the Tip ONeil quote again?Greenspan and "Ronnie" increased FICA taxes to make the SSTF look better as it was almost broke. When are you going to realize how foolish you sound?
You really have gone off the deep end again, where do you pull this crap from?LOL, constant supply that is dwindling. You really have no idea, do you? Sad, SS was never intended to be paid out when it was established as the retirement age was higher than the life expectancy age.
FFS, you simply forget how many times before we have gone over this, do I need to get the Tip ONeil quote again?
You really have gone off the deep end again, where do you pull this crap from?
That again is NOT the definition of a ponzi.The biggest part of a Ponzi scheme is using someone else's money to fund an obligation to you and so on and so on. Light bulb go off yet?
It's not a Ponzi scheme because it has a constant supply of investors, a Ponzi scheme depends upon deceit to get new investors and eventually goes broke when people no longer invest in the scheme. What is it about conservatism that makes people so ignorant?
The facts about Social Security are these. Yes, it’s a Ponzi scheme, thus criminally fraudulent (as I’ll explain), but even worse, because it coerces us to be a part of it. Since the scheme began in 1935 the full force of the U.S. government has compelled a growing portion of citizens to suffer by it, such that we all do so by now. A scheme of such widespread, compulsory fraud is unprecedented in U.S. history, and one of the most shameful (and popular) of FDR’s schemes.
That again is NOT the definition of a ponzi.
Why do you do this to yourself? I can understand the being bored in retirement, but to make yourself look like this is just weird.
It's not my fault you can't
understand what I posted. Suffice it to say, I never claimed the private sector gained 7 million jobs since December, 2013(?) ... nor did I say it occurred over a 6 month period.
Learn to understand what you read so you don't embarrass yourself like that again.
Reagan DID increase FICA and DID use it in his budget WHILE he tripled the debt. What that has to do with Reagan "inheriting" inflation from oil shocks is beyond me.You can cite it until hell freezes over and will never understand it in context to the situation Reagan inherited. You simply don't appear to understand that liberalism is making a fool out of you and you don't understand that the money contributed to SS is a long term obligation, it should never be spent on anything other than that obligation but has been since LBJ created the unified budget. I hope that light bulb goes off soon.
Like I said, you are of into this deep end of rejecting the real world and relying on your very twisted "experience".From a place you have never been part of, reality. What is it about liberalism that creates people like you?
Reagan DID increase FICA and DID use it in his budget WHILE he tripled the debt. What that has to do with Reagan "inheriting" inflation from oil shocks is beyond me.
Like I said, you are of into this deep end of rejecting the real world and relying on your very twisted "experience".
I asked you a pretty simple question that you ran from, is the over 400,000 taken into SS/Medicare and other Intergovernment holdings in 2000 a future obligation?
If not then it can be used with no consequences. I am sure that someone of your superior intelligence and book smarts understand the answer to that. Now the question is will you run from the truth?
Anyone that would listen to an investment banker that cheerleaded the use of insurance dollars for purchasing MBS's....is beyond me.Do you even care where the money you are forced to contribute to SS goes? Do you not understand that all the money taken into SS and Medicare each year is a future obligation and that when that money is spent on items other than your own SS it is still an obligation owed to you? Where is the money going to come from to fund the money that was spent prior to you being eligible? Light bulb gone off yet?
Social Security is Much Worse Than a Ponzi Scheme - and Here's How to End It - Forbes
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