We are always hearing about how Social Security is going to run out of money
.
How come we never hear about Welfare running out of money?
What's interesting is, the first group "worked for" their money... the second didn't!
hprinze wrote:
We are always hearing about how Social Security is going to run out of money
.
How come we never hear about Welfare running out of money?
What's interesting is, the first group "worked for" their money... the second didn't!
That's a great point. The congress will cut SS checks while increasing welfare.,
You won't hear much about welfare running out of money because the working/taxpaying suckers are not out of money yet.
hprinze wrote:
We are always hearing about how Social Security is going to run out of money
.
How come we never hear about Welfare running out of money?
What's interesting is, the first group "worked for" their money... the second didn't!
grey gringo wrote:
You won't hear much about welfare running out of money because the working/taxpaying suckers are not out of money yet.
It's not only the working class who pay SS tax. People making big bucks pay even more and employers, big or small companies, huge corporations and every employer pays an equal amount as the employees pay. So the working/taxpaying "suckers" pay only half the SS tax. They may collect someday, but the employers half is gone forever. They will never get even one cent.
I suspect that most employees have no inkling that their employers pay one dollar for every dollar the employee pays for SS and Medicare tax, that the employer pays 100% of the Worker Compensation,, 100% of the federal unemployment tax, 100% of the state unemployment tax, while so many employees whine and rant against the people who sign their paychecks.
hprinze wrote:
It's not only the working class who pay SS tax. People making big bucks pay even more and employers, big or small companies, huge corporations and every employer pays an equal amount as the employees pay. So the working/taxpaying "suckers" pay only half the SS tax. They may collect someday, but the employers half is gone forever. They will never get even one cent.
People don't realize that the portion paid by the employer is part of the payroll package that benefits the employee. In essence, the employee pays all of the tax because if the tax didn't go to FICA it would go to the employee.
Social Security trust fund money is in treasury bonds. Those have to be bought back by general revenues to pay recipients. " Welfare " is money set aside, from general revenue, for specific purposes. So SocSec money incoming goes to buy treasury bonds, that goes into general the general fund. That's nuts.
employers get tax credit for ALL employee related expenses. That includes all contributions to health, workers comp, SSA etc.
hprinze wrote:
We are always hearing about how Social Security is going to run out of money
.
How come we never hear about Welfare running out of money?
What's interesting is, the first group "worked for" their money... the second didn't!
Simple answer, many older Americans on SS tend to lean conservative, whereas many welfare recipients lean liberal.
Either is political suicide to propose cuts.
17 Trillion dollars in national debt is only a small part of the equation. It is the Unfunded liabilities that is killing us.
http://usdebtclock.org/Look at that bottom line, $126 trillion and growing a million dollars every 10 seconds.
17 + 126 = 143.....that's 143 trillion right this second, and growing rapidly. Both sides are to blame for this, as neither side wants to address the political hot potato (except for the Tea Party- unfortunately it's too late).
We have already gone over the fiscal cliff, smooth sailing until we hit bottom.
TroubleshooterTim wrote:
Simple answer, many older Americans on SS tend to lean conservative, whereas many welfare recipients lean liberal.
Either is political suicide to propose cuts.
17 Trillion dollars in national debt is only a small part of the equation. It is the Unfunded liabilities that is killing us.
http://usdebtclock.org/Look at that bottom line, $126 trillion and growing a million dollars every 10 seconds.
17 + 126 = 143.....that's 143 trillion right this second, and growing rapidly. Both sides are to blame for this, as neither side wants to address the political hot potato (except for the Tea Party- unfortunately it's too late).
We have already gone over the fiscal cliff, smooth sailing until we hit bottom.
Simple answer, many older Americans on SS tend to... (
show quote)
:thumbup: :thumbup: :thumbup:
Billhuggins wrote:
People don't realize that the portion paid by the employer is part of the payroll package that benefits the employee. In essence, the employee pays all of the tax because if the tax didn't go to FICA it would go to the employee.
I don't think you understand who pays the SS tax
lpnmajor wrote:
employers get tax credit for ALL employee related expenses. That includes all contributions to health, workers comp, SSA etc.
You are thoroughly confused.
oldroy
Loc: Western Kansas (No longer in hiding)
hprinze wrote:
We are always hearing about how Social Security is going to run out of money
.
How come we never hear about Welfare running out of money?
What's interesting is, the first group "worked for" their money... the second didn't!
Social Security can't run clear out of money as long as someone is working. I don't know what happens to the system once socialism has taken over and most people aren't employed. Maybe that won't happen but socialists want it to happen
What someone said here about welfare people tending toward liberal thinking is what most will be once the liberals get their way and we are socialistic enough to suit Obama.
hprinze wrote:
You are thoroughly confused.
Mt Prinz, What do you mean? I was an employer for 15 yrs. You are basing your opinion sir, on insufficient information about me. I fully understand FICA Taxes inside and out. What do you know? Apparently, you know something different that the law. I don't know what you know, I only know the law as it applies to employer-employee obligation.
oldroy wrote:
Social Security can't run clear out of money as long as someone is working. I don't know what happens to the system once socialism has taken over and most people aren't employed. Maybe that won't happen but socialists want it to happen
What someone said here about welfare people tending toward liberal thinking is what most will be once the liberals get their way and we are socialistic enough to suit Obama.
Mr. Oldroy, Sir: SS taxes are spent before they are received by the IRS. Yes, there is a column on the gov's accounting book that say: "SS Trust Fund"; it is filled with IOUs. Why would anyone think that the gov, when out of cash, would pay SS recipients before Fed Workers, including congress. SS recipients get what congress says they get and that couldf be 00000000!!!!!!!!!!!!!!
TroubleshooterTim wrote:
Simple answer, many older Americans on SS tend to lean conservative, whereas many welfare recipients lean liberal.
Either is political suicide to propose cuts.
17 Trillion dollars in national debt is only a small part of the equation. It is the Unfunded liabilities that is killing us.
http://usdebtclock.org/Look at that bottom line, $126 trillion and growing a million dollars every 10 seconds.
17 + 126 = 143.....that's 143 trillion right this second, and growing rapidly. Both sides are to blame for this, as neither side wants to address the political hot potato (except for the Tea Party- unfortunately it's too late).
We have already gone over the fiscal cliff, smooth sailing until we hit bottom.
Simple answer, many older Americans on SS tend to... (
show quote)
What happens if we hit the rocks? o we bust our azzzes or, congresses? :lol: :lol:
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