8:27 a.m. - 2005-08-24
I could talk about...
It's been awhile and I just couldn't resist.
In response to Incredipedro's entry today...
Here’s some basic highlights of the article
Three-quarters of the money that’s collected in Social Security taxes goes right out the door again in the form of benefits to Social Security recipients. The surplus that isn’t needed to pay benefits is loaned to the federal government to pay for other programs.
Or…
The idea that U.S. lawmakers don’t pay into Social Security is 20 years out of date. Before 1984, U.S. representatives and senators -- like all other federal employees -- weren’t covered by Social Security and didn’t pay into the system. Congress passed a law in 1983, which took effect the next year, requiring all its members (and all federal employees hired after that year) to participate in the system.
Or…
Here’s a summary of the add-ons over the years:
• In 1939, five years after Social Security began, Congress added payments for the families of workers who died, and for retirees’ dependents (such as stay-at-home spouses).
• In 1956, Congress added disability benefits for workers.
• In 1974, Supplemental Security Income or SSI was established as a welfare program for low-income seniors and people with disabilities.
• In 1965, Congress established Medicare to pay health-care costs for seniors.
If the disabled, the dependent and the survivors were booted out of the system, Social Security could pay for itself --assuming tax levels remained the same.
“The system would be more than adequately funded,” Goss said, “if only retirees were receiving benefits.”
Wow. Kinda seems like it isn’t just an overwhelming population and aborted babies. Interesting. Seems kinda like bad planning by our super duper republican based government.
Have a nice day!
