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Wednesday, October 26, 2016

This year will go down in my books as the year of Internet hogwash — at least as far as Social Security is concerned. It seems that I spent half my columns in 2011 dispelling all the myths, rumors, half-truths and outright lies about Social Security that are being spread on the World Wide Web.

Actually, most of the gobbledygook is nothing new. Most of these stories have been around for years. It’s just that in the past, the lies were spread rather harmlessly between two coworkers sitting in their lunchroom or among a few neighbors chatting over the back yard fence.

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Copyright 2011 The National Memo
  • GeorgeV22309

    I believe you are wrong, Tom, about needing to be a U.S. citizen to receive Social Security benefits. In fact, even a non-citizen living in a foreign country can receive Social Security benefits…as long as they lived and worked in the U.S. and earned 40 SS credits. No?

  • jgreen12

    That’s all well and good that the wife merged her money with her husband, but what stops him from spending away what’s she’s saving once the accounts are merged?

  • calhar

    What troubles me is the fact that this monies is being put into US treasuries.But with the possibility of a credit downgrade due to government overspending just how secure are they especially with the amount China holds.The government who backs them with so called full faith,has very little income other than tax receipts,which vary depending on the economy and money stolen from the Indian trusts,and lawsuits.!!!!!In the past most of our good economys have been from the excess spending to pay for the wars?In other words the income into the S.S.Trust fund depends in most part on the economy,which already has been hit by the so called holiday????Another fact people are living longer and millions more are soon to start collecting bennefits.It appears that the old math system where 2+2 added up to four,was dicarded for the new modern math where 2+2 adds up to 5.The future will depend on the spending habits of people to determine how vigorous the economy is????????Some beleive that people oriented jobs will be made,but with human inadaquacy all this does is create more and more feeding off of others.But all in all hope springs eternal.

  • jimmyags

    The internet has become a sad version of what it could have been. It had the chance to be a source of factual information easily available to the masses and has become the world’s ultimate bar stool. You know the guy i mean, the guy on the bar stool who knows everything,has the answer to all of the world’s problems and can solve everything from where he is sitting. You know he is full of it, but since he is a regular everyone there just smiles and let’s him rant. How crazy is it that everyone doubts what they read in the newspaper (and rightly so sometimes) but believes everything written on the net as gospel from on high? In other words we question the validity of information sent out by people who are trained,monitored by their bosses and are actually held to standards for accuaracy. Then we turn around and quote some guy writing out of his basement without bothering to verify anything he says. We would never trade our police for untrained random guys with guns or have a surgery performed by someone who’s training was watching MASH on tv, yet we trust the untrained, unnamed person on the net for information?

  • Common Sense Patriot

    This is just an ultra-liberal propaganda piece to hide the hard economic facts that Social Security is going broke, and Medicare will go broke before that. The time estimates vary on how much money you project will be in social security (which is less due to the “payroll tax cut” which isn’t from income taxes but from social security taxes)and how many people you expect to receive social security and how long they will live. Since payments began in 1940, life expectancy has increased by 5.1 years for men and 6 for women, yet the retirement age has only been increased by 2 years. To make expected time in retirement the same as in 1940, the retirement age would have to be increased to 73. Nobody seriously wants to see that, so the result is more payments for a longer period of time to recipients with taxes collected to cover the payments falling further and further behind. Social Security is the largest government program in the world and the single greatest expenditure in the federal budget, with 20.8% for social security, compared to 20.5% for discretionary defense and 20.1% for Medicare/Medicaid. The most commonly accepted estimates regarding the solvency of the program are that in 2023, total income and interest earned on assets are projected to no longer cover expenditures for Social Security, The trust fund would then be exhausted by 2036 without legislative action. I am a Social Security recipient and I can tell you that most Social Security recipients could not survive without it. Those 50 and over don’t have time to earn enough to provide for retirement if Social Security is reduced, unless they work longer and more and more age discrimination is preventing older workers from staying employed or finding new employment. Those over 50 among the current 13.3 million unemployed report an even more difficult time in finding work again than younger people. Statistics bear this out. Companies have become sophisticated in ways to legally not hire older workers and the protections afforded by federal law are easily gotten around. I know because I was a Human Resources Executive before retirement and I aw discrimination practiced all the time by hiring managers, despite my efforts to stop it, but they’ve become clever enough to know what to say and what not to say to justify their choices of younger workers. And many HR departments and corporate legal counsels help them do it! So, don’t try to smooth over the problems with social security with a fluff propaganda piece that ignores the real financial problems social security faces. The only solution is to make changes now that will apply to younger workers (those under 40, because the simple math shows the program is unsustainable in its current form.

  • DavidL.Dobson

    SS can be funded very easily; remove the existing cap for deducting SS from the employee (now about $106,000 per year) but keep it for the employer. Keep benifits the same, COLA increases only. I know of people who were making over $200,000 a year during the 90’s, paid SS on less than half that amount and who are now collecting max from Social Security. Don’t stick the employer with extra taxes, the employee will benefit and should pay more, especially if he/she takes care of themselves and lives long enough.

  • Jim Groom

    GeorgeV22309 want to know is non citizens can collect Social Security after earning 40 credits. The 40 credits is correct, however only citizens and legal aliens are allowed to collect Social Security. Just like American citizens who now reside outside of the country former legal aliens who earned their credit can and do receive Social Security.

  • Bassicdave

    It’s a shame that you get all your “data” from the Ron Paul website…you make such a fool of yourself in your comments across this site.

  • GoodGuyNY

    If money is used to pay recipients, then the “rest of the money” is used to “pay other expenses in other parts of the government” the Social Security money IS being used to fund the government and not being specifically used for Social Security. That is a SIMPLE FACT. The double speak will not work. Social Security Disability it routinely defrauded. I see it right here in my home town.

  • GoodGuyNY

    I am a cancer patient. I will always be a cancer patient. I cannot work. I have been denied Social Security Disability because even thing I have a 40 year work history, I do not have the required “credits” in the last 10 years. And that is because I have been sick on and off for the last ten years and could NOT work. Where is the fairness in that? Worked most of my life yet when I need something that I have contributed to, I cannot access it. And there isn’t an atty that will even try to work on it because of the set in stone “work credit” rules.