38 social security

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am 38. I have been paying into social security for 25 years!
You don't change the game on me. Grrrr.

You have been paying into social security since you were 13 years old????

Can't speak for OP, but I certainly have. I was delivering newspapers then and FICA was withheld.

Not if it was the Washington Post you didn't, where you did your own collections and kept a portion and paid the rest to your disributor.

[Anonymous]

Anonymous wrote:What good is paying off bonds and obligations with printed and drastically devalued money. Bernie madoff would be perfectly capable of paying back with worthless iou's

Huh? Now you've shifted the argument to something about inflating our way out of our budget deficits, which is debatable and by no means assumed. But in any case it doesn't matter. If Social Security took $100 of FICA taxes and invested it by buying a USG bond with a face value of $100, then that's what the USG legally owes to Social Security. And as I said, there's no was the USG can default on this bond. I suppose that if you were right (which you aren't) about the dollar being "drastically devalued", then the USG would have no trouble printing up more money to give Social Security so there would be no problem with seniors getting their benefits. But this is a side track.

Could I ask again: how would a system where everyone saves only in IRAs work for people earning $30K, who can barely clothe their children, let alone sock away thousands in savings each year like you claim to do?

[Anonymous]

It's a giant PONZI scheme.

Is that you, Congressman Ryan?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am not planning my retirement around social security. I would rather get whatever i put in back. I am 35

I'd like my homeowners insurance premiums back now that my house had not burned down. But it ain't happening.

That doesn't make sense because you never intend to burn down your house and collect the money at the end.

You are 38 and now you now that you are financially capable of paying for your own retirement. But you didn't know that when you started paying in.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am 38. I have been paying into social security for 25 years!
You don't change the game on me. Grrrr.

You have been paying into social security since you were 13 years old????

Can't speak for OP, but I certainly have. I was delivering newspapers then and FICA was withheld.

Not if it was the Washington Post you didn't, where you did your own collections and kept a portion and paid the rest to your disributor.

Op here. Yes. My first job was at baskin and robins.
I can't remember the pay but I got a free junior cone or soda at the end of my shift.
Had to get special permission to work at that age (my mom signed something)
Have worked ever since for most part held two jobs. Dropped to one while in law school and have only one full time job now and a toddler.