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a reality of Social Security
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ekeller2
Posted 1/22/2013 06:51 (#2840195 - in reply to #2839731)
Subject: Re: a reality of Social Security


So. IL
Kooiker - 1/21/2013 21:32

ekeller2 - 1/21/2013 19:58 Ok, someone help me out here. If we are working today and paying SS tax thats being used for those who are recieving SS checks today, Then where did the money go that they(retirees) put in? Was there a free period years ago where we gave out SS and never had a SS tax?

 

SS was started in 1935 and started paying out immediately.

The people that started collecting at that time didn't have to pay in for a whole life time before collecting.

 

It has always been nothing more than a system of redistribution.

Money comes in and it goes out immediately.

 

 

 

 

 

 



It sounds like that generation bankrupted the SS system to me, and we are still paying for them. Recieving with out paying into the system should never happen. When started, they should have started the SS tax, then at retirement it would start paying, not started paying immediately for people who never paid into the system.
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