10 things you should know about Social Security

Every week the government takes money out of your paycheck, with plans to return it to you when you're retired. If that's all you know about Social Security, read on.

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520Comments
Apr 2, 2014 7:45PM
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If you haven't contributed to it you should not be drawing from it.  That is what the original legislation states.
Apr 3, 2014 8:45AM
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All I want is just the money I paid in to Social Security all these years.  Give it to me in one lump sum and I'll be happy.   After all it is MY money.  I know I can do more with it than the government could.  I don't believe that is asking too much to just let me have back what I worked very hard to earn.  Let me decide who to contribute it to and who to tell to get a job.   I am very worried that when I retire in a couple of years, I will have to wait until the government decides if I can have it or not (if it's even still there).  I believe in helping others and giving to good causes.  I don't believe in supporting laziness and irresponsible behavior.  
Apr 3, 2014 12:27AM
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My dad lived until he was 76, I'm going to retire at 62, I don't care what the experts say. That will be at the end of 2015
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Has the middle class been put on the endangered species list yet?
Apr 2, 2014 6:58PM
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The 1st and most important thing you should know about social security... It will not be there when you retire. That's right, kiddies. The money that the government is currently taking out of your check was spent twenty years ago. Why else do you think the Congress and Senate voted themselves retirement packages/benefits that aren't based on social security, but are very much funded by taxpayers.
Apr 3, 2014 7:23AM
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Mom paid into SS for 35 years and died at 56 never collected...Dad paid into SS for 47 years collected for 3 years.....?
Apr 2, 2014 8:27PM
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Last week I read where the "File and Suspend" option is currently being reviewed by the Obama Administration. In other words, if they think anyone is gaming the system by using this strategy it will go quietly away just like the "Pay-back" or "Do-Over" option did. Its funny this article talked about all the great reasons for waiting until you reach your full benefit age or even beyond to collect SS but no where did it talk about the "break even" point. So if you die before you reach your break even point guess who comes out ahead. Health should be a major decision on what age you start your benefits and for many that means taking your benefits early. 
Apr 2, 2014 7:36PM
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You can thank Jimmy C. for giving it all away to anyone that breathes. Citizen or not. If you contributed a dime to it or not. The Democrats for starting to tax it as income which it was mandated was never supposed to happen, moving it to the General Fund out of a Retirement Fund, and spending it on pork barrel programs. Yep, all those Republicans fault alright.
Apr 3, 2014 11:08AM
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Does our Government NEGLECTTHAT WE HAVE ALREADY PAID The TAXES on Our SS with each and every paycheck received!
Apr 3, 2014 1:07PM
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They need to stop giving disability benefits to fakers,bums and those who did not contribute. I say they should be rid of the disability benefit and let it be replaced with private disability insurance. It would be a better managed system that could nearly eliminate fraud.

 If they are going to pay out socil security and disability to fakers and bums then they should quit giving the add ons for children and spouses ....an employer does not pay you more just because you have kids and we shouldn't pay extra for it either....manage your money.

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QUESTION: How do you believe a decade or two of a nation having around 50% not paying any income tax and yet absorbing tax revenue like a sponge will affect the nations ability to allow politicians to "import and buy votes" or even allow for any possibility to continue the present nonsense of using S/S funds for things other than benefits for the elderly (AKA new voter gifts to illegals)?
Apr 7, 2014 4:57PM
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Take the money and run! In July 2014 I will turn 62. My wife is too young to retire, and my dad passed away when he was 66. Show me the money! I aint waiting for Uncle Sam to spend it. 
Apr 3, 2014 7:44AM
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If you have paid into Social Security, you are entitled to payment when you retire. You are not entitled to a raise every year or so for any reason. That is not how pensions or insurance works. Social Security is meant to keep you out of poverty, not pay for every convenience life has to offer.

If you paid into Medicare, you are entitled to help with some health care costs. You are not entitled to 100% paid coverage for every little pill and device on the market. You are not entitled to get a free pill to keep your dick hard. Medicare is meant to keep you healthy and preserve your life. It is not meant to make you 100% comfortable, or provide you with a sex life.
Apr 2, 2014 8:36PM
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No. 11 it will not be in existence when and if I retire.  No.12  I have been ripped off paying in my entire working life!
Apr 2, 2014 9:50PM
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If you go to the social security website, it has stated for years that it's funded until 2032.   Then it gets real unclear if it will be funded, age raised, or a % of what is currently calculated from your years of contributions.  

     The  near future average Joe will be screwed, means tested, and 80 years old before a penny is seen.   Probably be taxed at a much higher %.   It was only to be used as a supplement anyway, right?   Common sense will tell you if take current median wage, workforce participation, gay spouses, and disability % that the fund is being drained faster than predicted.    If no changes are made, the future of legal immigration, and current wages, we are screwed outside the boomers group.   What's new for folks that follow the rules.

   On the other hand, been told for decades that SS is in trouble.

   

Apr 3, 2014 9:20AM
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Social Security like life insurance is a bet, you bet that you will live to collect it and the government bets that you will not (with life insurance you bet you die they bet you live). Problem is the odds are in your favor that you will collect which is why they up the age from time to time in the hopes of winning. The income is conservative for one needs and should not be taxed in any way. The real plus has become all the extra's during the years which added to the overall cost with the major problem being the government. As long as they continue to raid the system for cash and the system keeps adding perk after perk it will never balance out and the odds of you collecting become bleak. Face it if this was a casino game table with these rules you would never place a bet but then again you have a choice at the casino.
Apr 3, 2014 1:08AM
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As I read these posts I can not believe how uninformed most people. are. Most of the people do not know what they are talking about so they should research before they spew their stupid posts.

Just one example It was Ronald Regan who taxed the social security checks.  Research and learn. most of you do not know what you are talking about.

Apr 2, 2014 9:51PM
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hey, im 72 years old and they said it would not be there for me when retire guess what it is, so go tell somebody else something you realy know nothing about

Apr 3, 2014 7:44AM
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Social Security is a self funded pyramid scheme, which only works as long as there are more people paying in than there are receiving benefits, and as long as benefits are not far more than payments made plus a fair growth rate (most recipients receive far more). The SS trust fund had a lot of money which needed to be invested. It was invested in government securities. That’s okay as long as the government can afford its obligations (it can’t). In 2030 (may not be the actual date) SS will pay out more than they take in. That is not necessarily bad for SS because they have all that money invested in the government. One problem. The government can’t make good on the investments. The government is so mis-managed that in order to pay SS what it owes them it needs to raise taxes. That is why they say SS affects the deficit.

Apr 7, 2014 7:46PM
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Why do they always try to convince you to wait until full retirement age to collect.  It's stupid!!  Example:  Full retirement at 67 = $1,500.00 a month.  Early retirement at 62 = $1,125.00 a month.  A difference of $375.00.  So, collect at 62 and until 67 you will have collected $67,500 during those 5 years.  Wait until 67 for that extra $375.00 and it will take you 15 years (age 82, which is past current life expectancy) for payback of that $67,500.  Why would you wait?  I'd rather have the extra money in my 60's than my 80's.  What the hell are most people doing in their 80's if they make it that long?  That's right, sitting around.  It's just the statistical odds. 

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