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So basically we are- once again- paying out money that we will never see?

Social security? Have I ben paying it this whole time while I will never see a dime of it again?

Answer Question

Asked by Anonymous at 11:50 PM on Mar. 25, 2010 in Money & Work

Answers (10)
  • Um, where have you been the past ten years..

    Yes. You are now paying to support a world full of old people. THERE WILL BE NOTHING LEFT by the time you get there.


    I thought everyone knew!

    If you want to get angry, might as well assault the old people... LOL!!

    Answer by Anonymous at 11:52 PM on Mar. 25, 2010

  • well I dont understad- If its all going to old people, shouldnt they jsut be collecting what THEY put in?

    Answer by Anonymous at 11:56 PM on Mar. 25, 2010

  • Well yes, they should be collecting what they put in and in fact their monthly social security allotment is actually based on their last 40 business quarters in the work force. However, this fund has been misappropriated and robbed blind along the way, so it is not at all what it should be. Combine that with the fact that we have the largest percentage of people eligible to collect social security coming to their golden years at one time in our history...and the simple math will show that we have one heck of a problem. Please do your best to save for your retirement, there is no guarantee that this system will still be in place by the time that you are of age to use it.

    Answer by Anonymous at 8:39 AM on Mar. 26, 2010

  • I agree, term insurance people!

    Answer by IraqiVetWife at 8:57 AM on Mar. 26, 2010

  • My husband and I are 12 years away from qualifying for SS. We have been working and paying into SS for the past 40 years. Now there is no savings left in the SS, and we will probably have to go on working until we fall into our graves, even though we have saved and invested. Our investments took a hell of a hit and we have watched them dwindle. When we retire, taxes will take the rest of what we have saved. We have been robbed by the government and there is nothing we can do about it. We are still paying off the last of the old folks of our parent's generation, who will probably die about the time we turn 65. I don't want my children and yours to have to do the same. We can just kiss it goodbye, but you young people need to do something if you can. I'm not sure what, but don't pay into SS only to see it stolen. Get it abolished if you can. It's sheer robbery.

    Answer by pagan_mama at 9:09 AM on Mar. 26, 2010

  • More goes out of our paycheck for social security than federal taxes. We pay $9.50 a month in federal taxes (married, 5 exemptions) and pay $180 in social security. What drives me crazy is everyone is quick to complain about HCR and "socialism" but do not bat an eye about Social Security. For some reason, people think there is a box somewhere with their lifetime Social Security deduction like it's some kind of savings. It's an easy way for the government to steal from you more than it is to help you. If people had any idea that $180 or so will not be there for them in the future, they too will be angry. So, with SS/Medicare, we lose $235 a month. Yet pay less than that combined in Federal Taxes. It's mind boggling when you think about it.

    Answer by Anonymous at 9:39 AM on Mar. 26, 2010

  • One of the biggest problems with Social Security is that people are living a lot longer than originally intended with this system. DH pays it, I'm a SAHM, and we both basically pretend it doesn't exist, because for us, it won't.

    Answer by tyheamma at 10:09 AM on Mar. 26, 2010

  • Not if the republicans have a say in it. And you will notice they have made sure their retirement and medical benefits will be paid for life so... its a shame our president is trying to fix what they created... and it looks like he will be taking the blame for the problems before he took office. Hang on... the republican party is going to raise its ugly head and step in. We will be further in debt than ever before.

    Answer by Anonymous at 10:56 AM on Mar. 26, 2010

  • Yeah that's great that congressmen/women can serve only one term and get benefits for life. If you are a Representative, you only have to serve one two year term and you are set up with medical and a pension. Must be nice to make your own rules.

    Answer by Anonymous at 11:30 AM on Mar. 26, 2010

  • Old news, sorry you are just catching up. Think of it as paying so your parents/grandparents won't suffer. Nobody's fault but the greedy government and a bunch of politicians making poor decisions on our behalf. It should have worked but over the years they misused the funds. Sad for us but not our parents/grandparents.

    Answer by Anonymous at 12:07 PM on Mar. 26, 2010

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