Entitlements

[Skulnik]

It occurred to me that this piece should be committed to memory and recited to the next person who preaches about the "entitlements" some of us receive.

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 govt. 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, doesn't make my benefits some kind of charity or handout!!

Congressional benefits, aka, 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, Homeless etc! 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 its 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? 99% of people won't have the guts to forward this.

I'm one of the 1% -- I Just Did

 

[Duff Miver]

It occurred to me that this piece should be committed to memory and recited to the next person who preaches about the "entitlements" some of us receive.

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 govt. 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, doesn't make my benefits some kind of charity or handout!!

Congressional benefits, aka, 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, Homeless etc! 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 its 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? 99% of people won't have the guts to forward this.

I'm one of the 1% -- I Just Did

Your numbers are bogus. Nobody has paid in 15% for the working life of 49 years you used.

49 years ago SS withholding stopped at $4800 income, the combined rate employer+employee was 6.25% and the maximum tax per year was $300, less than 1/10th of what you claim.

Someone who stopped working today, and who earned the maximum taxable wage (now $109,000) every one of the past 49 years would have paid in, e&e, a grand total of $123,000, not the $220,000 you claim.

All the rest of your numbers are bullshit too.

All of which is just more proof that you, skulnuts, are a Goddamned Liar.

Of course there's nothing new about that.

 

[Skulnik]

Your numbers are bogus. Nobody has paid in 15% for the working life of 49 years you used.

49 years ago SS withholding stopped at $4800 income, the combined rate employer+employee was 6.25% and the maximum tax per year was $300, less than 1/10th of what you claim.

Someone who stopped working today, and who earned the maximum taxable wage (now $109,000) every one of the past 49 years would have paid in, e&e, a grand total of $123,000, not the $220,000 you claim.

All the rest of your numbers are bullshit too.

All of which is just more proof that you, skulnuts, are a Goddamned Liar.

Of course there's nothing new about that.

I see Lucky Pierre is a little upset at me, get back in the middle, your friends are ready fo some more.

:mj07:

 

[Trampled Underfoot]

I see Lucky Pierre is a little upset at me, get back in the middle, your friends are ready fo some more.

:mj07:

Do you ever think before you post some of this crap? You are worse than raymond.

 

[Mags]

All it takes is a simple example to show what a farce, and how illogical, our social security system is - and how much of a ripoff it is for our current taxpayers.

EXAMPLE: Let's take a person, who starts work today at age 30, and works 35 years until age 65. Let's assume they make $96,000 a year, EVERY YEAR, for the next 35 years. Basically, no salary increases (pretend he is a state worker in WI). Certainly not rich, by any means, but certainly not poor either.

So, over his 35 year working span, he/she would make $3.36 million. During this period, assuming the same 6.2% employer/employee contribution, $416,640 would be withheld from his pay/contributed by his employer.

But, any rational human being would invest this money. So, let's assume a VERY conservative 3% return on this money over these 35 years (for comparison, the US Stock market averaged a 7% inflation adjusted return from 1950-2009).

Now, the amount that this individual has a "right" to, at age 65, has now grown to $731,384.

Currently, the average lifespan of a male (for example) in the US is 75.4 years. Let's assume that there will be continued increases in lifespan over the next 30 years (even under Obamacare) - so let's assume the average lifespan is 80.

So, now we'd have to calculate an annuity for remaining lifespan, using the $731,384 that has been conservatively accumulated. Since I am assuming 80 as a lifespan, I'll calculate a monthly annuity certain for 15 years, paid monthly, using the same conservative 3% interest rate.

The monthly payment this individual would receive, at age 65, using conservative assumptions and the fairness principle (he gets what he put in) would be $5,050 per month. Again, VERY conservative!

Now, what would the social security system give this person? Using the previous 35 years of index factors in the calcuation, this individual would only be given $3,731 per month - not the $5,050 he deserves!

And the $5,050 could be a LOT more - with a more realistic inflation adjusted rate of return.

So, why is the government screwing the very workers who are paying into the system? Wouldn't our retirees be much better off being given the fruits of our labor?

The answer is likely twofold: the government had no idea what were doing when they set this up - instead of accumulating funds as they should have before payout, then made it pay as you go. Stupid, stupid, stupid.

Another reason: much of your money, that you earned and deserve, is being given to someone else - all part of the income transfer mechanism (no, this one we can't blame on Obama).

It is just a big shell game - some might call it a Ponzi scheme - but the average taxpayer and worker is getting royally screwed by the current system, no doubt.

 

[Duff Miver]

Maggot, you dolt: SS is INSURANCE, get it? Some pay in more than they take out and vice versa. And, unlike private insurance, there are no slimy agents skimming off.

Here, try this example: A teacher starts work at age 23 for the average starting wage of $44K, paying, e&e, $5456 per year in SS. Five years later and no raise (thanks to some asshat right-wing governor) he dies leaving a widow and two children, ages 2 and 4.

He has paid in a total of $13,640 as has his employer

His widow and children will be eligible to collect $2022/month, a total of $363,960.

Social Security is not your personal savings account. It is insurance.

The farce, Maggot, is you.

You and skulnuts together couldn't break 100 IQ.

 

[Skulnik]

Maggot, you dolt: SS is INSURANCE, get it? Some pay in more than they take out and vice versa. And, unlike private insurance, there are no slimy agents skimming off.

Here, try this example: A teacher starts work at age 23 for the average starting wage of $44K, paying, e&e, $5456 per year in SS. Five years later and no raise (thanks to some asshat right-wing governor) he dies leaving a widow and two children, ages 2 and 4.

He has paid in a total of $13,640 as has his employer

His widow and children will be eligible to collect $2022/month, a total of $363,960.

Social Security is not your personal savings account. It is insurance.

The farce, Maggot, is you.

You and skulnuts together couldn't break 100 IQ.

Lucky Pierre, you're the biggest LIAR on this Site, DTB exposed you, get back in position, your guy pals are waiting.

:mj07:

 

[Mags]

Maggot, you dolt: SS is INSURANCE, get it? Some pay in more than they take out and vice versa. And, unlike private insurance, there are no slimy agents skimming off.

Here, try this example: A teacher starts work at age 23 for the average starting wage of $44K, paying, e&e, $5456 per year in SS. Five years later and no raise (thanks to some asshat right-wing governor) he dies leaving a widow and two children, ages 2 and 4.

He has paid in a total of $13,640 as has his employer

His widow and children will be eligible to collect $2022/month, a total of $363,960.

Social Security is not your personal savings account. It is insurance.

The farce, Maggot, is you.

You and skulnuts together couldn't break 100 IQ.

It is a bad deal, all around. The example you gave is EXACTLY why life insurance exists. Again, I don't see the role of government to take the place of private business. The folks in your example could have purchased a life insurance policy, and be better off.

Funny about your "slimy agents" comment. I'm sure that was meant as a insult.

However, since I have never been, or never will be, an insurance agent, it doesn't affect me.

However, I do see value in insurance agents - in health care, auto, life, home. I see value in sales people in all walks of life - cars, appliances, electronics, furniture, etc. I see value in wait staff also.

You probably go in a restaurant, and call them slime, because they add 5% to the cost of your meal (as I'm sure that is all you tip).

It is a shame that you insult those you who think are beneath you. All those people above, in your world, are slimy since they sell you a service. Most of which you would not have the IQ to understand without their help.

You really need to get help with your anger issues. You complain that the "right" doesn't treat people properly, and give enough of their income to folks who don't work hard enough/smart enough to be successful.

Yet you don't treat ANYONE who doesn't agree with you, on this board, properly. Just because you are an extremist, and lean so far left, doesn't mean that other folks thoughts and opinions aren't important and people should be treated with respect.

You really need to grow up, show some respect, and maybe you'd be respected. You certainly are not respected now.

Do as I say, not as I do, eh Duff?

 

[Duff Miver]

It is a shame that you insult those you who think are beneath you.

You really need to grow up, show some respect, and maybe you'd be respected. You certainly are not respected now.

I insult only morons, fools, idiots, idealogues and lairs.

You qualify on four counts, skulnutz on all five.


No one forces you to read what I post, Maggot.

Respect? YOU? :facepalm:

When pigs fly - :mj07: :mj07: :mj07: :mj07:

 

[Trench]

Do you ever think before you post some of this crap? You are worse than raymond.

And we're the trolls? :mj03:

 

[Mags]

I insult only morons, fools, idiots, idealogues and lairs.

You qualify on four counts, skulnutz on all five.


No one forces you to read what I post, Maggot.

Respect? YOU? :facepalm:

When pigs fly - :mj07: :mj07: :mj07: :mj07:

Duff, your insults and use of vulgarity are all that's needed to see your ignorance and stupidity.

That's what dumb people do - call people names and use vulgarity.

It's your calling card - its all you do. Stupid is, as stupid does.

Don't worry - my dad is a bit older too, and, while he has too much class to use vulgarity and name calling, he is getting grumpy in his old age.

And we already know you are very old. We've seen pictures to prove it. Hence, I guess I can understand why you are a grumpy old man. But it would be appropriate if you could show an ounce of class, and refrain from the namecalling and vulgarity.

But, stupid is as stupid does, and there is no changing you. Old dogs can't learn new tricks.

'Nuff said.

 

[ssd]

I'd like the option to opt out of this insurance plan.

I really do not want it and will not need it.

I can't so I guess it is a forced insurance plan, one I am pretty certain to lose money at.

 

[Duff Miver]

Duff, your insults and use of vulgarity are all that's needed to see your ignorance and stupidity.

That's what dumb people do - call people names and use vulgarity.

It's your calling card - its all you do. Stupid is, as stupid does.

Don't worry - my dad is a bit older too, and, while he has too much class to use vulgarity and name calling, he is getting grumpy in his old age.

And we already know you are very old. We've seen pictures to prove it. Hence, I guess I can understand why you are a grumpy old man. But it would be appropriate if you could show an ounce of class, and refrain from the namecalling and vulgarity.

But, stupid is as stupid does, and there is no changing you. Old dogs can't learn new tricks.

'Nuff said.

That's it? That's your response about Social Security?

Go tell your daddy to stop cashing those SS checks....and find a for-profit insurer to cover his medical.

Too bad daddy didn't get a vasectomy ten months before you were born....or maybe he did?

You got some *dumb* genetics somewhere.

 

[Duff Miver]

I'd like the option to opt out of this insurance plan.

I really do not want it and will not need it.

I can't so I guess it is a forced insurance plan, one I am pretty certain to lose money at.

1. You cannot opt out. Too bad. You can, however become a citizen of Somalia, Nigeria, Pakistan or some other shithole. No mandatory SS there.

2. You have no idea whether you will come out ahead or behind. Just like all insurance. You could become permanently disabled tomorrow, or you could die with no dependents at age 61 and never collect a penny. Or, you could begin collecting at age 62 and live to be 102.

3. It's the cheapest insurance you can buy, and can never be cancelled for any reason, including if you stop paying premiums. Where else can you find a deal like that?

4. Considering the endless and boring whines you have about the USA, I do think you should become a Somali. You could take up piracy and pay no taxes whatsoever - pure unencumbered capitalism.

I can see you now - an 18' outboard, Kalashnikov in hand - a self made man, a captain of free enterprise.

 

[Skulnik]

Duff, Lucky Pierre, you're going to die a miserable man, no doubt in my mind, you have WAYYYYYYYY to much hate in you.

JMHO

:scared

 

[Trampled Underfoot]

Duff, your insults and use of vulgarity are all that's needed to see your ignorance and stupidity.

That's what dumb people do - call people names and use vulgarity.

It's your calling card - its all you do. Stupid is, as stupid does.

Don't worry - my dad is a bit older too, and, while he has too much class to use vulgarity and name calling, he is getting grumpy in his old age.

And we already know you are very old. We've seen pictures to prove it. Hence, I guess I can understand why you are a grumpy old man. But it would be appropriate if you could show an ounce of class, and refrain from the namecalling and vulgarity.

But, stupid is as stupid does, and there is no changing you. Old dogs can't learn new tricks.

'Nuff said.

You've got some fucking nerve. I seem to recall you inviting Duff to dinner and he countered and said he would pay for dinner. Then you flipped out and called him all kinds of insults including a pedofile. :facepalm:

 

[Mags]

You've got some fucking nerve. I seem to recall you inviting Duff to dinner and he countered and said he would pay for dinner. Then you flipped out and called him all kinds of insults including a pedofile. :facepalm:

You are as dumb as Duff.

I was smart enough to see a set up - its what you liberals do.

Dinner at a flower shop? Right.......

He wasn't even in France.... and I knew he wasn't going....

Which is why he posted a picture of a flower shop... that's all he could find on the web to post....

 

[Trench]

You are as dumb as Duff.

I was smart enough to see a set up - its what you liberals do.

Dinner at a flower shop? Right.......

He wasn't even in France.... and I knew he wasn't going....

Which is why he posted a picture of a flower shop... that's all he could find on the web to post....

A setup??? :mj07: :mj07:

From Duff's posts, it's obvious he knows much more about France than you or Dogs will ever know. Not the kind of knowledge you can easily get from the Internet, but the kind of knowledge you can only get from actually spending time there. Yet you two chuckleheads insist that two separate trips to France never occurred simply because he mis-translated one fucking word. When you two latch on to something, you never let it go.

A "setup". :142smilie :142smilie

 

[Duff Miver]

A setup??? :mj07: :mj07:

From Duff's posts, it's obvious he knows much more about France than you or Dogs will ever know. Not the kind of knowledge you can easily get from the Internet, but the kind of knowledge you can only get from actually spending time there. Yet you two chuckleheads insist that two separate trips to France never occurred simply because he mis-translated one fucking word. When you two latch on to something, you never let it go.

A "setup". :142smilie :142smilie

Let them go, Trench. I've been to France not twice, but four times. I've also lived in China, been to Indonesia, Malaysia, India, Viet Nam, Hong Kong, the Phillipines, Greece, Italy, Surinam, most of the Caribbean, , Mexico, Canada, and every US state but Alaska.

And, actually, I've learned something everywhere I've been.

doggie and Maggot will never know anything. Too fucking bad for them.

It'll be a freezing day in Hell when I care what doggies and maggots think. :mj07: :mj07: :mj07: :mj07:

 

[The Sponge]

You are as dumb as Duff.

I was smart enough to see a set up - its what you liberals do.

Dinner at a flower shop? Right.......

He wasn't even in France.... and I knew he wasn't going....

Which is why he posted a picture of a flower shop... that's all he could find on the web to post....

i think your wife sniffed out the setup :facepalm: