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Claim: Social Security retirement payments are classified as "federal benefit payments."

 


 

Federal Benefit Payments

Claim: Social Security retirement payments are classified as “federal benefit payments.”

 

 


Example: [Collected via e-mail, March 2012]

SOCIAL SECURITY NOW CALLED ‘FEDERAL BENEFIT PAYMENT’/ENTITLEMENT

Have you noticed, your Social Security check is now referred to as a “federal benefit payment”?

I’ll be part of the one percent, to forward this, our government gets away with way too much in all areas of our lives, while they live lavishly on their grossly overpaid incomes! 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 forwarding it 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 butt, 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 — 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.

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?

99% of people won’t have the guts to forward this.

I’m one of the 1% — I Just Did.


Origins: It’s true that Social Security retirement payments are classified as “federal benefit payments,” but this terminology is not new: the word “benefits” has been applied to Social Security retirement payments since the Social Security program was enacted in the 1930s. The terminology is also not unique to Social Security retirement payments, as the phrase “federal benefit payments” applies to a broad class

 

of payments made to (or on behalf of) individuals under federal government programs — everything from Social Security Disability Insurance to Medicare to farm subsidies are considered “federal benefit payments.” The fact that workers themselves contribute much of the money that goes into the Social Security retirement fund doesn’t affect its classification as a benefit.

Likewise, the word “entitlement” has long been the standard terminology for payments made under government programs that guarantee and provide benefits to particular groups. Persons who have demonstrated their eligibility to claim such payments are entitled (i.e., “qualified for by right according to law”) to receive them. The usage has nothing to do with pejorative connotations associated with the word (e.g., “a sense of entitlement”) which are often applied to denote people expecting or demanding something they do not merit.

As for the calculations about savings detailed in the latter half of the above-quoted example, they’re far off the mark. Social Security contributions from individuals and employers combined have never “totaled 15% of your income before taxes”; the current level is 12.4%, and historically the contribution rates have been significantly less.

Last updated: 23 July 2012

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Comments Off on Claim: Social Security retirement payments are classified as "federal benefit payments."

Posted by on October 13, 2012 in Business, Family, Goverment, Health and wellness, News and politics, Organizations, Religion

 

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Is this our Social Security or the Goverments?

SOCIAL SECURITY

FYI…

, NOW CALLED

‘FEDERAL BENEFIT PAYMENT’

ENTITLE MENT!

Have you noticed, your Social Security check is referred to as a “Federal Benefit Payment”?


The government refers to our Social Security checks as a

“Federal Benefit Payment.”
This isn’t a benefit – its earned income!
Not only did we all contribute to Social Security but our employers did too.

It totaled 15% of our income before taxes. If you averaged $30K per year over your working life, that’s close to $180,000 invested in Social Security.

If you calculate the future value of your monthly investment in social security ($375/month, including both your and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you’d have more than $1.3+ million dollars saved!

This is your personal investment.

Upon retirement, if you took out only 3% per year, you’d receive

$39,318 per year, or $3,277 per month.

That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the
Social Security Administration (Google it – it’s a fact).

And your retirement fund would last more than 33 years

(until you’re 98 if you retire at age 65)!
I can only imagine how much better most average-income people could live in retirement if our government had
just invested our money in low-risk interest-earning accounts.

Instead, the folks in Washington pulled off a bigger Ponzi scheme

than Bernie Madoff ever did.
They took our money and used it elsewhere.

They “forgot” that it was OUR money they were taking.
They didn’t have a referendum to ask us if we wanted to lend the money to them.

And they didn’t pay interest on the debt they assumed!
And recently, they’ve told us that the money won’t support us for very much longer. (@ 8 years is all they have available)


But is it our fault they misused our investments?

And now, to add insult to injury, they’re calling it a “benefit,” as if we never worked to earn every penny of it.
Just because they “borrowed” the money, doesn’t mean that our investments were a charity! Let’s take a stand.

We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government –
Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it.

Call it what it is:
Our Earned Retirement Income.

I’ll be part of the one percent to forward this.

I am forwarding it because it touches a nerve in me, and I hope it will in you.

Please keep passing it on until everyone in our country has read it.

99% of people won’t Share this. Will you?


 

 
Comments Off on Is this our Social Security or the Goverments?

Posted by on October 3, 2012 in Family, Goverment

 

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THIS SENIOR CITIZEN NAILED IT!!!!!!!!!!!!!!

THIS SENIOR CITIZEN NAILED IT!!!!!!!!!!!!!!

Alan Simpson, Senator from Wyoming , Co-Chair of Obama’s deficit commission, calls senior citizens the Greediest Generation as he compared “Social Security” to a Milk Cow with 310 million teats. August, 2010.
Here’s a response in a letter from a unknown fellow in Montana … I think he is a little ticked off! He also tells it like it is !
—————————————————————————————————————————-
“Hey Alan, let’s get a few things straight..
As a career politician, you have been on the public dole for FIFTY YEARS.
I have been paying Social Security taxes for 48 YEARS (since I was 15 years old. I am now 63).
My Social Security payments, and those of millions of other Americans, were safely tucked away in an interest bearing account for
decades until you political pukes decided to raid the account and give OUR money to a bunch of zero ambition losers in return for votes, thus bankrupting the system and turning Social Security into a Ponzi scheme that would have made Bernie Madoff proud.
Recently, just like Lucy & Charlie Brown, you and your ilk pulled the proverbial football away from millions of American seniors nearing retirement and moved the goalposts for full retirement from age 65 to age 67. NOW, you and your shill commission is proposing to move the goalposts YET AGAIN.
I, and millions of other Americans, have been paying into Medicare from Day One, and now you morons propose to change the rules of the game. Why? Because you idiots mismanaged other parts of the economy to such an extent that you need to steal money from Medicare to pay the bills.
I, and millions of other Americans, have been paying income taxes our entire lives, and now you propose to increase our taxes yet again. Why? Because you incompetent bastards spent our money so profligately that you just kept on spending even after you ran out of money. Now, you come to the American taxpayers and say you need more to pay off YOUR debt.
To add insult to injury, you label us “greedy” for calling “bullshit” on your incompetence. Well, Captain Bullshit, I have a few questions for YOU.
How much money have you earned from the American taxpayers during your pathetic 50-year political career?
At what age did you retire from your pathetic political career, and how much are you receiving in annual retirement benefits from the American taxpayers?
How much do you pay for YOUR government provided health insurance?
What cuts in YOUR retirement and healthcare benefits are you proposing in your disgusting deficit reduction proposal, or, as usual,
have you exempted yourself and your political cronies?
It is you, Captain Bullshit, and your political co-conspirators called Congress who are the “greedy” ones. It is you and your fellow nutcases who have bankrupted America and stolen the American dream from millions of loyal, patriotic taxpayers. And for what? Votes. That’s right, sir. You and yours have bankrupted America for the sole purpose of advancing your pathetic political careers. You know it, we know it, and you know that we know it.
And you can take that to the bank, you miserable SOB.

If you like the way things are in America, delete this. If you agree with what a fellow Montana citizen says, PASS IT ON!!!

Donald Trump’s Presidential Decision Coming Soon

Donald Trump tells ESPN he’ll decide on a 2012 presidential run before June.

http://abcnews.go.com/Video/playerIndex?id=13302628

 
Comments Off on THIS SENIOR CITIZEN NAILED IT!!!!!!!!!!!!!!

Posted by on April 6, 2011 in News and politics

 

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