Social Security - Who gets what

CAFR1 in Reply to: Who Gets Your Social Security When You Die?

When you die and drop off from the Social Security fund or when local governments lay off local government employees, this makes government more money and does so not in the way you would think. Most local government pensions (trillions of dollars in collective totals) and the federal Social Security program are "strictly participatory"

What that means for SS and most local government retirement pensions, the employee and the taxpayer for the employee is buying a "ticket to ride" as if on a train going from point "A" to point "B". Point "A" is when they retire and point "B" is when they die.

Per local government employees most would think if the local government laid off an employee who was making 50K per year the local government was just saving 50K per year. Well it is much bigger than that. You see being strictly participatory the employee or SS beneficiary does not own 1c of the fund, the local / federal gov owns 100%. That same local government may have built up in the fund as an advance liability projection 1.3 million dollars to cover that employee making 50K for when they retire to cover their "ticket to ride" from the investment return on the 1.3M. Again, same applies for SS beneficiaries.

Axe the employee not truly vested yet in the gov retirement fund and you axe that 50K liability AND that 1.3 million liability set aside to honor those tickets to ride equity that they built and stashed into the fund balance over years. Gives them the ability to pull most of that 1.3M and use it elsewhere and no one is the wiser (except those who just read what was said here).

There is a very scary point here: If millions of the elderly died off from some "new" virus or war / economic collapse that caused the death of those 55+ elderly, there goes trillions of dollars of liability payments for government and government "keeps" the liability investment funds stashed away that ware intended to meet that liability. Gives the meaning of intent and motive to release a genetically modified virus that targets the elderly and medical health care policy that kills off the elderly over saving them.

Get it?

Those local government and federal bureaucrats sure are. Per the local government employees, bilk the taxpayer and gov employee during expansion times when hiring and do the same during economic retractions when laying off. It is all about covert wealth transfer. Your wealth into their pockets.

Then when the economic expansion begins again they say to the taxpayer after hiring (replacing the employees again): " Look our gov pensions are underfunded, we need to apply more tax revenue and contributions from the employees." Now replenishing the stripped down fund balances again.

From: Nancy Cox

Sent: Wednesday, February 08, 2012 1:37 PM

Subject: Who Gets Your Social Security When You Die?

I hope that more than 1% forward this.....I start grinding my teeth every time I'm reminded about how SS is running out of funds... what a load!

Who Gets Your Social Security When You Die?

I didn't do or check the math on this, but I think that people really need to stop calling SS an entitlement like it is a dirty word. I think of it more as repaying a loan that the government borrowed from us.

KEEP PASSING THIS AROUND UNTIL EVERY ONE HAS READ IT.....

SOMETHING TO THINK ABOUT

THE ONLY THING WRONG WITH THIS CALCULATION IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY COLLECTED THEIR SOCIAL SECURITY!!!! WHERE DID THAT MONEY GO?????????????

This was sent to me, I am sending it on because it does touch a nerve in me.

This is another example of what Rick Perry called "TREASON in high places"!!! Get angry and pass this on!

Remember, not only did you contribute to Social Security but your employer did too. It totaled 15% of your income before taxes. If you averaged only $30K over your working life, that's close to $220,500.

If you calculate the future value of $4,500 per year (yours & your employer's contribution) at a simple 5% (less than what the government pays on the money that it borrows), after 49 years of working you'd have $892,919.98.

If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month.

The folks in Washington have pulled off a bigger Ponzi scheme than Bernie Madhoff ever had.

Entitlement my ass, I paid cash for my social security insurance!!!! Just because they borrowed the money, doesnâ€™t make my benefits some kind of charity or handout!!

Congressional benefits ---- free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days, now that's welfare, and they have the nerve to call my social security retirement entitlements?

We're "broke" and can't help our own Seniors, Veterans, Orphans or Homeless.

In the last months we have provided aid to Haiti, Chile, and Turkey. And now Pakistan ......home of bin Laden. Literally, BILLIONS of DOLLARS!!!

Our retired seniors living on a 'fixed income' receive no aid nor do they get any breaks while our government and religious organizations pour Hundreds of Billions of $$$$$$'s and Tons of Food to Foreign Countries!

They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives and now when it's time for us to collect, the government is running out of money.

Why did the government borrow from it in the first place? Imagine if the *GOVERNMENT* gave 'US' the same support they give to other countries.

Sad isn't it?

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