Right now for every one person drawing Social Security benefits there are 7 workers paying into Social Security.  With in the next 10 years that will become 2 workers for every one person drawing benefits. If the average person draws $800 a monthe then the workers will have to contribute $400 dollars a month to Social security to cover the payments.  How can Social Security survive that?  Should it survive?  Galveston, TX. was used as an experiment in the early 80's.  Every worker in Galveston was given the opportunity to withdraw from paying into the SS admin.  They were allowed to invest their money in their own retirement plans.  Those people are now retiring with 4 to 5 times the amount of money than those who elected not too.
208376
The one thing you are not factoring into your formula are the billions upon billions of investment dollars that the Boomers will soon be drawing out of retirement accounts. Most of that money will be taxable.\n\nBesides that fact, social security is not something guaranteed under the Constitution and should be done away with. The 10th Amendment states:\n\n"The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people."\n\nSocial security was an ill-thought out program rushed through Congress with FDR's New Deal. Many of the problems we face as a nation have their roots in the New Deal. Any governmental program that is based on open or enforced enrollment is doomed to fail at some point - the rolls just grow too large for the base to handle.\n\nWhat this country needs to do is teach people fiscal responsibility and how to prepare for their own retirement. PRIVATIZING social security is the first step. The program that was suggested was a mirror image of the Thrift Savings Plan (TSP) available to every Federal government employee. I have two such accounts (one for my civilian job and one for my National Guard job), and BOTH accounts have grown by an average of 60% over the last two years. They do not allow people to invest in whatever they want - contrary to what the Democrats and liberals would have you believe. They consist of five very structured mutual funds based on market indexes. If it is good enough for the President and for Congress, it is good enough for me.\n\nPhasing it in - as was proposed - is the right answer, too. It allows people to keep receiving social security benefits but eventually weans people off of the government rolls.\n\nThe irony of liberals and Democrats not supporting privatized social security is this: They are the first ones that claim you cannot trust the government, yet they want the entire nation to trust the government with their retirement.
479482
I retired from Social Security after 32 yrs!  All checks used to arrive on or near the 3rd of each month & will continue to be paid on that date to people who started getting checks before the change.\n\nNow Social Security retirement, survivor & disability checks come different weeks depending on a person's birthday.  For example:  If someone's birthday falls on the 1st thru 7th they would be paid the 2nd wk of each mo.  (I don't remember the details anymore but you get the idea).  If a check arrives on someone's actual birth date it's just a coincidence.\n\nSome people get SSI & those cks are due on the 1st altho cld take 2 or 3 days for them to get checks. SSI is NOT Social Security benefits.  It is a welfare program administered by the Social Security Administration for the blind, disabled & aged which is based upon financial need unlike Social Security benefits.\n\nSocial Security made this change for 2 reasons:  1) to space the checks so that employees aren't inundated with phone calls/work the 1st wk of each mo which results in better service & beneficiaries can get thru on the phones more easily and 2) it makes it less of a burden for postal employees.
138849
Found this on the social security website:\n\nHow much will a widow receive?\n\nThe amount you will get is a percentage of the deceased's basic Social Security benefit. The percentage depends on your age and the type of benefit you are eligible for. A widow or widower, full retirement age or older, will receive 100 percent deceased's basic Social Security benefit.\n\nA widow or widower can receive full benefits at age 65 or older (if born before January 2, 1940) or reduced benefits as early as age 60. The age for receiving full benefits is increasing for widows and widowers born after 1939 until it reaches age 67 for people born in 1962 and later.
129362
I rather spent the money on illgela immigrants because look at the facts, immigrants contribute 7 billion in social security per year. they earn 240 billion, report 90 billion, and only are reimbursed 5 billion, "where are the 85 billion?"  They also  contribute to the U.S. economy 25 billion more than they receive in healthcare, etc., etc., etc.  According to the anti-immigrant politicians and hatemongers, "immigrants are a drain on society."  If this is true, then during the day on May 1st the stock market will surge, and the economy will boom.  If not, we prove them wrong once and for all.  We know what will happen!
527349
As others have said, Unemployment is not related to Social Security.  Asking if anything "comes out of your Social Security" seams to indicate you are under the common misconception that you have a social security account.  The social security taxes you pay are used to pay benefits to current recipients and most people receive more than they 'pay in'.  The so called 'trust fund' is a collection of IOUs from the federal government.
185435
It can take 2 to 4 months for the decision.  I had my hearing in early July got an answer in late September which was favorable to me  I collected some, SSI starting in late October and received my first actual Social Security Check on March 3rd this year.  I still have not heard about back pay.  My disability goes back to and is approved for back to January, 2002.  It is a long drawn out process.  If you have a lawyer involved the Social Security Office will not give you any information only the attorney and my attorney said he has had cases where the decision took one day less than a full year.  I waited 16 months for my hearing so I understand the waiting process can wear on you.  However be forewarned that even with a fully favorable decision it will take you some time to start receiving payments.  The best of luck to you and I hope that they have streamlined the process some in the past few months, however I have just given you an honest time frame of my case.  By the way once you get a favorable decision go to your Social Security Office and get them started giving you some SSI, it helps a lot when you have been waiting and it will come out of your lump sum settlement from Social Security.  Believe me I was glad to have that as an option.
566317
google them.  Just be aware, the company is going to make money off you.  This means you may well end up with a lot less than if you stick to the income stream you have coming.\n\nOh...they buy settlement contracts like annuities and lawsuits.  They do NOT buy social security income streams because they have no guaranteed payout (plus I'm pretty certain that would be illegal).
436034
My job is to help people to apply for SSI and SSD. I have seen some people get approved with in a month (rare) to a few years.  It all depends on your situation. I work with people that are chronically and persistently mentally ill, so their situation is different from yours.  A few things I have picked up along the way should help anyone that is applying though.  Go to visit the listings for the disability you are going to apply under.  Here is the link for the listings\n\nhttp://www.ssa.gov/disability/professionals/bluebook/AdultListings.htm\n\nFind the part(s) that pertain to you, print them up and make copies for all of your doctors, or anyone that is going to be giving information about you to the SSA.  The SSA uses those listings to decide if someone is disabled or not, so the more documentation the SSA gets that directly relates to their listings the better chance you have to get approved right away.  \n\nUse those listings when you are filling out the disability report.  The SSA will verify everything you put down so be honest, but just point out how your situation fits in to their listings.\n\nIf you get denied, appeal.  This is where the several year wait comes in. Many people get denied the first time, so don't let a denial stop you.  If you are denied and you appeal it, and you win that appeal, you get back payments.\n\nSSI also has income and resource limits.  So even if you are disabled or over the age of 65 you can not get SSI if you have more than 2K in resources (bank accounts, cash, life insurance..etc), or you are above the income limit for your living arrangement. SSI is different from state to state, so the income levels are different. The resource level is the same across the states though. If you own a house, and live in that house, it does not count towards your 2K limit. One car is also exempt from your resource limit. SSD has NO resource guide lines, but if you EARN a certain level of wages it will affect your SSD.  \n\nCopy everything you hand in to the SSA, and if you have questions DO NOT RELY ON THE INFORMATION YOU ARE GIVEN AT THE SSA 1-800 (1-800-772-1213) PHONE NUMBER.  The best way to use the 1-800 phone number is to call it to make an appointment to talk to someone in your local Social Security office. \n\nGood Luck!!
615616
FICA is the Federal Insurance Contribution Act that says 12.4 percent of your earned income up to an annual limit must be paid into Social Security, and an additional 2.9 percent must be paid into Medicare.
250458
how much is my sss contribution
4970
The rule is that your aunt's social security check cannot be reduced on a net basis from the prior year, but if her social security increase is greater than the increase in the medicare premium, then her medicare premium can be increased.  The problem lately has been that medical inflation has exceeded the inflation in ordinary prices.  It is likely that she is fixed in income for the rest of her life given the disparity between medical inflation and consumer inflation on which social security is based.  I doubt she will see a net pay increase ever again, based upon the numbers and barring real health care reform.\n\nWhile that looks like a lot, although I am just guestimating, I have recently reviewed employee health coverages.  I suspect the average 82 year old should be paying a monthly premium well in excess of $500 per month.  Her health care costs are being heavily subsidized by workers, taxpayers and future taxpayers.  It sounds like an enormous amount, but it is well below her cost to the system unless she is in very good health.  Medicare is an insurance policy just like any other, except that the beneficiaries do not always have to pay their full share of the premium.
442345
During the depression years (1930's) so many people lost their life savings when banks failed, that the government set up a retirement insurance system called Social Security.\n\nEvery adult is required to register and is assigned a number. The law states it is illegal to use the number for purposes of identification. The government is one of the worst offenders breaking that law.\n\nOver the years the taxes paid into it by workers built up a huge surplus of funds and the government enacted amendments to the system allowing all sorts of things to be paid out of it. "Borrowing" from the fund was a regular occurrence by several administrations. During the Reagan administration, temptation finally overruled common sense and the fund was abolished, the money put into the general fund (can be used for anything our elected employees decide) and the taxes paid into it started going to the general fund.\n\nSince the system was gutted and robbed, it is forecast that in about 30 or 40 years the taxes collected will no longer exceed those paid out, and that is the "crisis".\n\nReagan's other contributions include union busting, closing mental health facilities so those requiring care were cast out to die, swell the ranks of the homeless and overcrowd the prisons.\nHe also bears the burden of the Savings and Loan scandal in which the Bush family made millions at the expense of taxpayers (a continuing cost that has already run into $trillions).\n\n\n.
68995
I think "writer" was on the right track...\n\nToo many people drawing social security, too few paying in.\n\nToo many people with a lower tax base, therefore, less income tax being paid into our system.\n\nToo many people using community "help" centers, ie, food banks, energy assistance, etc, with again, too few people donating to these centers.\n\nShortages in immunizations, like the flu shot shortage we just went through...(usually recommended for the very young & the elderly)\n\n(Yeah, most of these I think are financial burdens, it does seem that most of these could have been planned ahead for if we had only done it...)
620871
The crazy truth about social security is that it's not a savings plan for your future. Everything that is deducted from your paycheck now is used to make social security payments to those currently receving benefits. We are paying for the benefits of the previous generation and the next generation will be paying for ours. However, everyone agrees that this is an unsustainable model and that the program will most likely go bust in the next few decades. Although I am not a big fan of Bush, he did attempt to pass legislation that would allow people making payments into a retirement plan to forego paying social security taxes. This idea was shot down pretty quickly...
178474
Social security was NEVER meant to be a pension used for retirement. It was initially pushed on to the public by FDR as a SUPPLEMENT to retirement savings of individuals. Probably the biggest hoax ever in the history of the federal government, people have been brainwashed into believing SS will take care of them in their old age. It will NOT. Rather, it is in the process of bankrupting us as a nation.\n\nTo support this, I would ask you to refer to ANY private OR state retirement system, all of which leave SS in the dust in terms of benefits.\n\nI am familiar with the retirement plans for state employees in Massachusetts and Maine. BOTH far exceed the benefit of SS and for years required less from a weekly paycheck. Check it out and see if your state does not have a better plan than SS. I'll bet it does! ANYTHING done by the federal government costs MORE than if the same program were to be done at the state or local level. However, we continue to look to the feds and panic whenever someone mentions an alternative to SS. Look what happened to Barry Goldwater in 1964 when he propsed alternatives to SS. He was buried in the election.
930
in my opinion social security cards have gotten out of hand you need one for everything. when it first started out it was an optional retirement program funded by your tax dollars.. and look at it now you need it to get married its messed up
659077
I believe they would if they had to live off the very little given in social security...  But they don't worry about it, as they will never have to live off of the little over $600 a month (way below poverty level)...\n\nAlthough, people today use SS as a way to retire, when it was originally designed to help penioners back when it was created.  It wasn't meant as a sole income...