originally posted by: neo96
Yeah some people are not bothering to read what has been written.
Are you even reading what YOU are writing?
Personal contributions to the SS funds DO NOT COVER THE money received from the program.
The money WHO receives? Certainly not everyone who pays into the Social Security system. Many will pay in to it for decades but never live to become
eligible to draw a cent.
The program does, however, pay out benefits to some who may become disabled, and for a few others who will live quite long lives and may eventually
draw out more than they have paid in.
I don't believe either of these exceptions are a majority though as most like myself who will likely receive retirement benefits are not going to see
a return as we would have if we were paying into a private account we would set up for ourselves.
Since OTHER PEOPLE ARE PAYING the difference makes it entitlement.
Perhaps for those who are receiving disability payments that could be a somewhat true statement, however for the majority who would be receiving
retirement benefits the amount of those payments are based what the person has paid into it. Most retirees will likely not see the amounts that were
paid into their SS accounts, especially if interest and inflation were factored in.
Someone else is paying you all.
Really? ALL of us? By what logic do you arrive at this? Surely you don't think that would apply to all those who paid into their Social Security
accounts for decades but never lived to see a penny of it - I know of many such instances, many more of those than I know of people drawing disability
payments from it.
I Do not know what is so hard to understand about that.
You got me there. But if I may venture a guess, could it be that others responding here may understand this a bit better than yourself?
If a person WAS FULLY funding that benefit themselves then it would be a different story.
That is a fact.
And the fact is many actually MORE than fully fund the benefits they would receive.
WE ALL are partially funding that program.
All of us who contribute to the Social Security system do partially fund those who may actually receive more than they have paid in, granted. I will
quite unlikely be one of them though.
In about six months I will be eligible to begin receiving retirement benefits through Social Security. I have had money paid in to my account for well
over four decades, much in the same way I have put money in the bank and expect I will be able to draw most of it out. The exception though, according
to the program's own rules and regulations, I am NOT ENTITLED to see a single cent of it if they decide to change or discontinue the program.
edit on 10-9-2014 by Erongaricuaro because: (no reason given)