Welfare State: Handouts Make Up One-Third of U.S. Wages

[rika60607 215]

THAT is not a fact. Just because the check comes from government, it does not make it "given, not earned".

Everyone can dance around all they want but the facts are still the facts. One third of the money in this country is not earned but given.

[Zero Sum 305]

Go ahead and send that retirement check back to Uncle Sam.

[Obama 2012 1,714]

THAT is not a fact. Just because the check comes from government, it does not make it "given, not earned".

the amount of money that one receives from social security this day and age isn't earned at all. When you look at how much one puts in, versus what one takes out, then it's quite obvious that it's not all earned at all.

Of course, this is why SS should be a choice and it should be YOUR money in which you put in there.

There are safe/secure items that the funds could be placed in to gain interest on the account all the years you are working as well.

[Zero Sum 305]

How does Social Security calculate retirement BENEFITS?

Please, no unsubstantiated answers.

[I AM NOT THAT GUY 5,715]

How does Social Security calculate retirement BENEFITS?

Please, no unsubstantiated answers.

http://ssa.gov/pubs/10070.html

[Zero Sum 305]

http://ssa.gov/pubs/10070.html

THANK YOU!

That is called a substantive answer.

[rika60607 215]

What's the SS+Medicare tax, 12.4% combined from the employer and employee? What's an average time one pays into the system, say 30-35 years? Accounted for inflation, I do not see how today's low payouts (which probably last 10 years average) weren't earned.

the amount of money that one receives from social security this day and age isn't earned at all. When you look at how much one puts in, versus what one takes out, then it's quite obvious that it's not all earned at all.

[I AM NOT THAT GUY 5,715]

What's the SS+Medicare tax, 12.4% combined from the employer and employee? What's an average time one pays into the system, say 30-35 years? Accounted for inflation, I do not see how today's low payouts (which probably last 10 years average) weren't earned.

Actually, it's 15.3% combined, of which the employer pays half as a deductible expense. Currently, more money is being paid out than is being paid into the system, starting last year.

Edited March 9, 2011 by Some Old Guy

[Zero Sum 305]

All this is, in my opinion, is GOP excuses to try to redefine paid-for benefits as freebies. This is not the first time they've done so, won't be the last, and neither will it be the last time that people will be foolish enough to fall for it.

[I AM NOT THAT GUY 5,715]

All this is, in my opinion, is GOP excuses to try to redefine paid-for benefits as freebies. This is not the first time they've done so, won't be the last, and neither will it be the last time that people will be foolish enough to fall for it.

It is not a paid for benefit. The system is pay as you go (see Ponzi Scheme), and currently, less is coming in than is going out.

[rika60607 215]

15.3% is even better

As for more money coming out than in, there was a time when it was the other way around... it happens.

Actually, it's 15.3% combined, of which the employer pays half as a deductible expense. Currently, more money is being paid out than is being paid into the system, starting last year.

[Zero Sum 305]

It is not a paid for benefit. The system is pay as you go (see Ponzi Scheme), and currently, less is coming in than is going out.

Pay as you go and Ponzi are different. Quite different. But nice attempt at redefining the entire Social Security scheme. Regarding the current financial state, there is no argument as to the obvious. And its more than just an argument of money in - money out; but more like the factors that affect each term of that formula.

[rika60607 215]

I understand what a Ponzi scheme is. But I still do not understand how baby-boomers who have been paying into the system for years did not pay for the benefit of being paid by the system.

Please explain. Why oh why is it not a paid for benefit?

It is not a paid for benefit.

[rika60607 215]

http://www.mlive.com/jobs/index.ssf/2011/03/social_welfare_benefits_equal_35_percent.html

Ha! I knew it!

Update 3:26 p.m.: A story at the Columbia Journalism Review claims the study cited in this post uses bad math and overstates government payouts. According to the CJR, at the highest, the percentage of social welfare handouts is 18 percent, and if you exclude Social Security and veterans benefits, the number would be closer to 10 percent.

[Zero Sum 305]

http://www.mlive.com/jobs/index.ssf/2011/03/social_welfare_benefits_equal_35_percent.html

Ha! I knew it!

Update 3:26 p.m.: A story at the Columbia Journalism Review claims the study cited in this post uses bad math and overstates government payouts. According to the CJR, at the highest, the percentage of social welfare handouts is 18 percent, and if you exclude Social Security and veterans benefits, the number would be closer to 10 percent.

And following the link, at the bottom you get the following:

This one will presumably be bouncing around the message boards and chain emails for years.