It really doesn't matter.

In our new socialist economy, the government will give whatever you need to live a life on par with your peers. Relax, you will be provided for.

You need to pay attention. Lug is selfemployed so he pays in 12.4 percent. Half a million is inconceivable.

Originally Posted by Lugnut



"I'm good with that...as long as I get back the half-million or so I've already paid in."


He said it 49 er not me !!!!!!!! So yea I missed the part where he said he was self employed. Guess you missed the part where he said he had "already " paid in OVER half a million !!!!!

Most people overestimate how much they paid in. But, self-employed pay double. Current;y self-employed pay 12.4%. no reason to wonder what you paid in. Just go here https://www.ssa.gov/ and create an account and see what you paid in. You will have to some calculations as the government web site only tell what you made not what was withheld. Here is a sample from my account, been paying in every year since 1965. US Army 68, 69 & 70. In 1971 I was making money above the maximum where SS was paid.

Here is something else most people don't know. I was self-employed and paid in several years late for two years. I lost those two years even though I paid plenty in. I forget what the term is for late payments, but pay late and you can lose those years.

Social security is both an old age income plan and a disability plan. It also provides for widows and orphans. It is insurance, not just a pension. Most people get back more than they pay in. You don’t have a guarantee however.

I took you at your invitation, did fact check this claim, and can't find what you're talking about. Page 78 deals with civil-military relations.

https://www.demconvention.com/wp-co...atic-Party-Platform-For-Distribution.pdf

Jim

What ever you paid into SS your employer paid the same if not more. And he does this for every employee.

As a former employer of a bunch of people I'd love to get back what I paid into SS, it dwarfs what a typical employee pays in.

There was a mistake on my part in my original post. I meant to say it isn't inconceivable he paid in half million.

Well after further review it could be a small exaggeration but non the less in the realm of possibility

Another vote for phasing it out. I want every penny I've paid in back but we could phase it out over time.

Bottom line, social security is a ponzi scheme and I would rather keep and manage my own money.

And eliminate social security disability now.

I know two guys that drew SS when they were in high school because their parents turned 65 while the kids were still in school. One back in the 70s, one in the 80s. That's what I was told anyway. Don't matter how much the parents are earning.

Those of us who have two wage earners in the self-employed business are paying hers & mine (personal) and then hers & mine (business) each month.

Listen close and you can hear;
The suction hose in the richest per capita area in the nation - Washington DC.

Jbird, Hobbie, relax guys. The half-million was an estimate.

I've been paying in most of my life like most of you guys and I'm 62 years old, started paying when I was sixteen. I own two businesses, one of them for over thirty years and another for about twenty years.

In addition, I've been matching the SS payments of three to eight employees for thirty-plus years.

I edited my original post to say, "as long as I get back what I've already paid in" but I'm thinking if my lifetime of payments for myself and others were tallied my estimate wouldn't be too far off.

So the 266,000 dollars I and my employers paid in over 45 years will take me almost 10 years to recover, forget any interest. That is one reason I started taking SS this year when I turned 65 not waiting till 66 and two months for full benefit. The other was having to send the government a check each month for $145 to pay for my Medicare insurance if I was not taking SS, I did not like that idea.

I just did a quick calculation. I've been getting about $3000 per month for eight years. It only took about 5 years to get back what I put in. It will take about 10 (two more) years for me to get back what me and my employers put into my account. Of course that is a dollar in a dollar out no lost interest considered. You guys hear to much fake news and don't fact check it if you think you will never get back what you put in. At age 73 I still get a paycheck and pay my fair share. Even with only a part-time job I have still paid in about $4000 so far this year.

You’ve made $65,000.00 so far this year with a part time job?

With all the unfilled job positions out there, I don't know why in heck they won't let a person drawing SS work a part time job for a little extra income. As it is, you have to wait until full retirement age, which is 66 1/2 in my case. They say if you get $1200/month that's enough. Seriously??

Hey, no fact checking allowed. Did you see the "about $4000", actually I paid in a little north of $37**. Remember some get paid for what they know and some get paid for what they do.

You said a mouthful there. I have been to D.C. and they apparently want for nothing. But want everything!

You can work part time. But after a certain amount you have to pay back dollar for dollar. I have 9 or 10 buddies that draw and ALL of them have part time jobs. One mows for a school system and he earns his limit working from April to end of Sept
After age 70 you can make all you want to and still draw the full amount