Social Security

[donquixote99]

Originally Posted by nailer

If we're playing the blame the President game I'll go back to that great friend of the common man, FDR. SS has been a pay as you go social welfare program from the start.

It's a federal government trust fund. How much trust does any Congress deserve?

I think I said that. But FDR is before my lifetime, Reagan was right in the middle of it, and pulled one of the dirtiest tricks ever: cutting taxes on the rich and then increasing the most income regressive tax we have, the capped SS tax. And putting it over with lies about SS.

[nailer]

Originally Posted by donquixote99

I think I said that. But FDR is before my lifetime, Reagan was right in the middle of it, and pulled one of the dirtiest tricks ever: cutting taxes on the rich and then increasing the most income regressive tax we have, the capped SS tax. And putting it over with lies about SS.

Agreed.

What the ruling class pulled off with Reagan shows how much more powerful TV is than radio. FDR demonstrated the power of radio to sell a political message/product to the masses.

[merrylander]

FDR was during my lifetime but I must say that 'selling a political message' seems a very jaundiced view. As I recall he was explaining his governments actions.

[nailer]

Originally Posted by merrylander

FDR was during my lifetime but I must say that 'selling a political message' seems a very jaundiced view. As I recall he was explaining his governments actions.

The government didn't belong to him, although he eventually got around to seeing it that way.

[icenine]

Originally Posted by merrylander

FDR was during my lifetime but I must say that 'selling a political message' seems a very jaundiced view. As I recall he was explaining his governments actions.

You are correct sir.

Nailer is talking about a lot smack about something he did not live through.
Historical sources and actual facts, in combination with a general consensus, built on legend or not, is ample evidence that FDR may have been sincere in his aims. Social security is almost 80 years old, and sadly it is the best many Americans have to hope for. At least FDR made it possible.

[bobabode]

Originally Posted by nailer

The government didn't belong to him, although he eventually got around to seeing it that way.

Bullshit on a shingle.

[nailer]

Originally Posted by bobabode

Bullshit on a shingle.

Keep trying.

The dude was incredibly imperious.

[nailer]

Originally Posted by icenine

You are correct sir.

Nailer is talking about a lot smack about something he did not live through.
Historical sources and actual facts, in combination with a general consensus, built on legend or not, is ample evidence that FDR may have been sincere in his aims. Social security is almost 80 years old, and sadly it is the best many Americans have to hope for. At least FDR made it possible.

What smack am I talking a lot about? Your "live though" point is pure

Why sadly? If it wasn't for SS and Medicare many would have nothing but family, friends and charity to depend on.

[Tom Joad]

One of the reasons why the more well off people don't like Social Security and want to sabotage it is that the way benefits are calculated favors the poor.

A lot pf people don't understand this.

The amount of your monthly check is based on your average earnings during your best 35 years. This is calculated and then converted to present value. Then a formula, which is quite progressive is used to determine the amount of your check. This is called the PIA.

https://www.ssa.gov/oact/cola/piaformula.html

For a relatively low wage earner whose lifetime average earnings are $2000 a month, their monthly benefit is $1136 per month. That represents about 57% of their average earnings. A pretty good return for a 6.2% payroll deduction. Not bad even if you consider the 6.2% employer match.

For a mid range earner, averaging twice that, or $4,000 a month, the monthly benefit would be $1776 a month. That's about 44% of their average earnings. Not as good, but still pretty decent.

Now, double those average earnings to $8000. Now the benefit is $2147 a month. That's only about 27% of average earnings. So a relatively well off does not get such a good return on their investment. They are in fact subsidizing lower wage earners.

This is a lot of the reason why they want to privatize it.

[noonereal]

Originally Posted by donquixote99

I think I said that. But FDR is before my lifetime, Reagan was right in the middle of it, and pulled one of the dirtiest tricks ever: cutting taxes on the rich and then increasing the most income regressive tax we have, the capped SS tax. And putting it over with lies about SS.

He did a lot of little stuff to. Like he stopped disability payments for child of the disabled at age 18 when previous they were extended till the child was out of college if they attended.

Yeah, kids with disabled parents do not have a right to college. I guess that was his thought.