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

[rika60607 215]

Yep. Baaaaad journalism! They will bend the truth in each and every way to make a catchy headline!

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

[Zero Sum 305]

Yep. Baaaaad journalism! They will bend the truth in each and every way to make a catchy headline!

I think its a lot more serious than getting catchy headlines. This is people's minds, actions, and votes that we're talking about here.

[mawilson 2,133]

Interesting. So call it Social Security Insurance, not Retirement.

I agree, let's call it that. The UK equivalent is called "National Insurance".

[one...two...tree 2,762]

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. How can we sustain that? Remember that as the boomers age this ratio will only increase. 20 years from now we could have one half of the country supporting the other half. Do you really think that will work?

Do you want to turn old people into fuel or food? What do you plan to do with them when they no longer can work? What do you plan on doing when you can no longer work?

[mawilson 2,133]

Do you want to turn old people into fuel or food? What do you plan to do with them when they no longer can work? What do you plan on doing when you can no longer work?

If they are broke, they should get their benefits. If they have a million dollars in 401(k)s, IRAs and a pension from their employer, ** them.

[Zero Sum 305]

I agree, let's call it that. The UK equivalent is called "National Insurance".

In the long run, it may end up going that way. If the GOP comes up with it, will they accuse themselves of going European/Socialist/Etc?

[JohnSmith2007 353]

Do you want to turn old people into fuel or food? What do you plan to do with them when they no longer can work? What do you plan on doing when you can no longer work?

I am not counting on my SS even though the money has been taken from me without my permission all my life. I have a very healthy 410K that I will live on thank you very much. SS is broke, there will not be any money for people retirering 15 years from now. The money I paid in has been stolen and spent by congress long ago. We should stop manditory SS withholding right now, pay off anyone over the age of 50 and tell everyone else to start saving. SS is a scam, it always has been and it will not last much longer. Anyone under the age of 50 that is counting on SS is an idiot.

Edited March 9, 2011 by JohnSmith2007

[Zero Sum 305]

If they are broke, they should get their benefits. If they have a million dollars in 401(k)s, IRAs and a pension from their employer, ** them.

I believe this post needs translation. From reading your posts, I sense a certain sense of hyperbole.

Please forgive me if I overstep in my translation:

"If they can't support themselves after retirement, the would qualify for SS benefits, this being an INSURANCE. [My insert: but wouldn't this meet with stiff partisan opposition that the guuuuuverment is taking freedoms away by having a guuuuuvernment retirement insurance plan?] If they have lots of money in 401(k)s, IRAs, and a pension from their employer, they do not qualify for the INSURANCE benefits, and therefore, can go enjoy their many many dollars."

In all honesty though... how many retirees fit this description?

[I AM NOT THAT GUY 5,715]

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.

CNBC had it wrong, as did all the rest of the networks? I would not be surpised. But, I would be even more surpised if that report you cited is valid.

http://www.cnbc.com/id/41969508

Edited March 9, 2011 by Some Old Guy

[rika60607 215]

Please tell me you are well under 50 and thus did not choose age 50 as a payout cut-off because it would benefit you?

I am not counting on my SS even though the money has been taken from me without my permission all my life. I have a very healthy 410K that I will live on thank you very much. SS is broke, there will not be any money for people retirering 15 years from now. The money I paid in has been stolen and spent by congress long ago. We should stop manditory SS withholding right now, pay off anyone over the age of 50 and tell everyone else to start saving. SS is a scam, it always has been and it will not last much longer. Anyone under the age of 50 that is counting on SS is an idiot.

I am very glad for your 401K. I am sure nothing bad will ever happen to it. And if it did you would very nobly commit Seppuku, as not to become a burden on the society.

[rika60607 215]

Well, it is internally sound, unlike the first report.

IS the second report right? I do not know, I would have to get the numbers for wages, unemployment and ss and medicare payouts etc. from an independent and indisputable source... I guess I am too tired to do the search. Would you care to?..

CNBC had it wrong, as did all the rest of the networks? I would not be surpised. But, I would be even more surpised if that report you cited is valid.

http://www.cnbc.com/id/41969508

[one...two...tree 2,762]

http://www.mlive.com...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.

Wow! That's quite an overstatement made in the OP. Hopefully, the author will do the right thing and acknowledge the outrageous error.

I am not counting on my SS even though the money has been taken from me without my permission all my life. I have a very healthy 410K that I will live on thank you very much. SS is broke, there will not be any money for people retirering 15 years from now. The money I paid in has been stolen and spent by congress long ago. We should stop manditory SS withholding right now, pay off anyone over the age of 50 and tell everyone else to start saving. SS is a scam, it always has been and it will not last much longer. Anyone under the age of 50 that is counting on SS is an idiot.

Without your permission? Stolen? Explain.

[Amby 490]

I'm ok with the insurance model - if you never get sick, you never use it.

Similarly, if you don't *need* social security benefits, you shouldn't get them just because you paid into the system.

Social Security should be a *safety net*, not an entitlement program.

I do know you aren't eligible for some things until you have under a certain amount of money. I don't know how much or what "benefits", but I do know my great grandma lived in a nursing home for 15 years before she died and paid out of pocket (for the nursing home and her healthcare) the entire time because she had too much money and wasn't eligible for things. I don't know all of the details but I can ask about it if you want.

Edited March 10, 2011 by Amby

[JohnSmith2007 353]

Please tell me you are well under 50 and thus did not choose age 50 as a payout cut-off because it would benefit you?

I am very glad for your 401K. I am sure nothing bad will ever happen to it. And if it did you would very nobly commit Seppuku, as not to become a burden on the society.

I am 56. I do not, however, count on my SS for my retirement. I don't plan on it being there at all. If it is, fine. I will take it since I paid into it. If it isn't, also fine, I can get by without it.

What would happen to my 401K? I didn't get hurt at the last downturn because I got out of the market in time. I have also gotten out of the market recently because I think we are about to have another crash. Take responsibility for yourself and quit depending on others for your future.

Without your permission? Stolen? Explain.

I never wanted to be in SS. If I could have opted out I would have. IMO they are stealing from me. I would be very happy if they just gave back what I paid in and let me forget about the pension.

[Amby 490]

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. How can we sustain that? Remember that as the boomers age this ratio will only increase. 20 years from now we could have one half of the country supporting the other half. Do you really think that will work?

When I heard it on the news this morning I was like :o