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re: Nikki Haley Says It’s Time to Raise the Retirement Age to Reflect on Life Expectancy
Posted on 11/16/23 at 9:01 am to Burt Orangello
Posted on 11/16/23 at 9:01 am to Burt Orangello
quote:
Are we talking about insurance or things like social security?
Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). The Social Security Act was passed in 1935, and the existing version of the Act, as amended, encompasses several social welfare and social insurance programs.
The Federal Insurance Contributions Act (FICA) is a United States federal payroll (or employment) contribution directed towards both employees and employers to fund Social Security and Medicare—federal programs that provide benefits for retirees, people with disabilities, and children of deceased workers.
You're bitching and moaning about something you don't even understand.
Social Security is, among other things, retirement INSURANCE. That's why they call it insurance. It is NOT an investment scheme. You and your moral outrage just look foolish.
Posted on 11/16/23 at 5:26 pm to WildTchoupitoulas
quote:
You're bitching and moaning about something you don't even understand.
Social Security is, among other things, retirement INSURANCE. That's why they call it insurance. It is NOT an investment scheme. You and your moral outrage just look foolish.
Oh, it has "insurance" in the name. Well, by God, that settles it.
Wait, there's the whole thing about it not being optional. If you are a wage earner, you are forced to pay into a system with the promise you'll see it back when you retire.
When you cut and pasted from Wikipedia, you didn't include these sections. Weird.
quote:
Social Security is funded primarily through payroll taxes called Federal Insurance Contributions Act (FICA) or Self Employed Contributions Act (SECA). Wage and salary earnings from covered employment, up to an amount determined by law (see tax rate table), are subject to the Social Security payroll tax.
quote:
Social Security payroll taxes are collected by the Internal Revenue Service (IRS)
Debate something on its merits instead of attempting to be a condescending douchebag.
When you take money from one person, by force, and then give it to another, it's immoral - whether you call it "insurance" or not.
If it's voluntary, that's a different story. In this case, for wage earners, it isn't.
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