23 Mar 2025 6:41 pm
It would have to be "pay as you go"...OTW a whole generation would have had to pay in before the next generation could receive any monies when they retire...Fuelman » 23 Mar 2025, 3:14 pm » wrote: ↑ I don't look at my retirement accounts the same way as SS cause they are two entirely different things. SS is a welfare program and the formula for benefits proves it. No such formula is applied to our retirement accounts.
Maybe you have never heard of the "pay as you go" system, would surprise the **** out of me!
+2Social Security is called a "pay-as-you-go" program because current workers' payroll taxes directly fund benefits for current retirees, rather than being saved or invested to fund future payments. Here's a more detailed explanation:Current Workers Fund Current Beneficiaries:The core principle of a pay-as-you-go system is that the taxes collected from today's workers (employers and employees) are used to pay the benefits to today's retirees and beneficiaries. No Savings or Investment:Unlike a fully funded pension plan, Social Security doesn't accumulate a large reserve fund or invest the money collected from taxes. Direct Transfer of Funds:The money collected from payroll taxes is immediately used to pay out benefits, creating a direct transfer of funds from current workers to current beneficiaries.
Fact or fiction, you decide.
As far as the 300 year old being on the SS books, why the hell is that name there in the first place? Did some idiot think it was a good idea to go back 200 years and give some dead guy a SS number? Yes, there were idiots who thought all these people were getting checks, bless their hearts! The more important point is the antiquated data base, that's what I took away from it.
JuCo 5 percenter...
“Show me the man and I’ll find you the crime”
LAVRENTIY BERIA
"Try to get past your passionate ignorance and learn to accept what actually happened."
brown's unheeded words of wisdom 