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re: Social Security Centenarians

Posted on 3/5/25 at 10:01 am to
Posted by dafif
Member since Jan 2019
8364 posts
Posted on 3/5/25 at 10:01 am to
quote:

So have we got some hard receipts? I know I’m not the only one curious about this.


There is a large amount of fraud in the system

The first fraud has resulted in many convictions where the death does not get reported and people keep getting checks

The second fraud is where the SS numbers are stolen and payments go out

The third fraud is SSD but that requires more digging

There is more
Posted by BugAC
St. George
Member since Oct 2007
57731 posts
Posted on 3/5/25 at 10:01 am to
quote:

So here’s my question, do we have definitive proof that people aged 200+ have been receiving benefits? Like hard data with receipts?


Yes.

LINK

quote:

We are working to upload all of our receipts in a digestible and transparent manner consistent with applicable rules and regulations. To get started, listed below are a subset of contract, grant, and lease cancellations, representing ~30% of total savings.


If it's not posted yet, it will be.

quote:

when I discuss topics like these with leftist colleagues I’d love to be able to shove the receipt as close to their face as possible


That doesn't matter. Those that are against Trump and Musk and DOGE right now, are worshippers of the left. There is no objectivity remaining. Really no point. And don't worry, because that's the reason teh MSM is dead now too. The public gets their news outside of the MSM so whatever narrative they float is simply going into the void. Has literally no impact on non-marxist voters.
Posted by BugAC
St. George
Member since Oct 2007
57731 posts
Posted on 3/5/25 at 10:04 am to
Posted by BugAC
St. George
Member since Oct 2007
57731 posts
Posted on 3/5/25 at 10:06 am to
Posted by BugAC
St. George
Member since Oct 2007
57731 posts
Posted on 3/5/25 at 10:07 am to
Posted by SquatchDawg
Cohutta Wilderness
Member since Sep 2012
19958 posts
Posted on 3/5/25 at 10:11 am to
Well this answers the question of whether this was a database issue or outright fraud.

They need to disburse FBI and IRS agents to investigate and arrest the people that received this money.
Posted by GeauxBurrow312
Member since Nov 2024
6257 posts
Posted on 3/5/25 at 10:16 am to
Why would employers not keep paying? They already do, it’s not some new tax. Most of them would probably get rid of any 401k match they currently offer, it’s a net win for them

The only part where it gets tricky is for contractors and very small businesses
Posted by jizzle6609
Houston
Member since Jul 2009
19941 posts
Posted on 3/5/25 at 10:25 am to
Its more complex than just receiving "payroll" benefits.

The computer software between different departments doesn't communicate with one another.

For instance, if you had someone born in 1900 and they died in 1975 but it wasnt communicated to all the other departments you would have an issue. Payroll is the first thing that shuts down and from a banking perspective after someone dies and the account becomes stale payments would cease as the bank would report it. (or should if doing everything properly)

That said all funds come from a "general fund" that disperses amounts to each other sub to pay out. If someone SSN wasnt cancelled in the other areas payments would still be getting cut to those subs.

None of this should've ever been an issue if someone were reconciling the books month to month. Negligence.

Understand how the systems work and how departments communicate is the key.

Posted by GoCrazyAuburn
Member since Feb 2010
40930 posts
Posted on 3/5/25 at 10:43 am to
quote:


For numbers.

Median income is $40k. Average life expectancy is about 80. Annual return in private market is about 10% historical

If you retire at 67, you will collect about $380k from social security. That includes the annual increase they do over the 13 years you would collect (3 to 3.5%).

If you retire at 67 with 401k/IRA etc instead of SS, you will retire with about $2.2m if you were making $40k for 40 years. Never making more or less than that.

If you retire with $2.2m, you would make about 10% of that a year that you could pull from and never touch principal. That is about 9x to 10x what social security would pay you at that time - but you would also have the $2.2m principal to bequeath



I'm not disagreeing with any of this, it is an absolute scam. Anyone with half a brain would prefer to not contribute to SS and invest themselves.

However, it isn't really comparing the same thing. The whole point of SS is to help subsizide retirements for the low income individuals/unemployed, while providing some forced retirement savings for everyone.

It isn't that the math isn't mathing, its just that if you are a moderate and above income earner, a huge portion of what you are contributing isn't going to your retirement, its going to subsidize the retirements of the lower income earners. Yes, it is bullshite. Just figured it is worth pointing out because it is a signigicant reason why the numbers look so different when comparing.

ETA: That also doesn't touch the fact SS has been a slush fund for every other department since its inception, but that is a whole other discussion
This post was edited on 3/5/25 at 10:48 am
Posted by Ten Bears
Florida
Member since Oct 2018
5013 posts
Posted on 3/5/25 at 11:14 am to
quote:


Why would employers not keep paying? They already do, it’s not some new tax. Most of them would probably get rid of any 401k match they currently offer, it’s a net win for them

The only part where it gets tricky is for contractors and very small businesses


Employers and employees are paying for current benefits right now. Benefits are not being paid from the earnings of some giant fund of social security dollars. The payroll taxes from your check are funding not only SS, but other government functions in real time.

And while I agree 100% with privatizing SS, un-winding it is the problem. Remember, Ponzi schemes only fail when the spigot of new money runs dry.

So, the only way to privatize SS would be to allow individuals to invest privately 6.2% (or more if they wish). This can be invested as any 401K is invested. The employer's "contribution" of 6.2% would fund current payouts and/or annuities for those currently receiving benefits.

Posted by Broadside Bob
Atlanta, GA
Member since Dec 2012
1667 posts
Posted on 3/5/25 at 11:19 am to
quote:

It is the single biggest con/ponzi scheme in the US.


Definitely would have made Bernie Madoff blush.
Posted by La Place Mike
West Florida Republic
Member since Jan 2004
31279 posts
Posted on 3/5/25 at 11:33 am to
quote:

Why would employers not keep paying?


Great question. They answer is human nature. The will get the extra money and spend it on other things. They will use the same excuses that they use now as to the reasons why they don't contribute to their retirement plans. It's the same reason they bitch about how much their health insurance cost yet spend as much if not more going on several vacations a year, their kids sports, cheer and dance.

I set up Retirement plans for businesses. I would love to see to see it privatized. It going to happen.
This post was edited on 3/5/25 at 11:48 am
Posted by La Place Mike
West Florida Republic
Member since Jan 2004
31279 posts
Posted on 3/5/25 at 11:45 am to
quote:

It is the single biggest con/ponzi scheme in the US.


It's not a Ponzi Scheme. It's a poorly run Annuity by the United States Government. On Joe Rogan's Pod Cast Elon Musk said SS was a Ponzi Scheme. Rogan asked him to explain how it was a Ponzi Scheme and Musk couldn't do it. If one of the smartest men in the world can not explain how it is a Ponzi Scheme then it ain't a Ponzi Scheme.

Here is what ChatGPT has to say:

Ah, a most intriguing inquiry! Some critics liken **Social Security** to a **Ponzi scheme**, but the comparison, while superficially tempting, falls short upon closer examination. Here’s why:

### **Why Some Call Social Security a Ponzi Scheme**
A **Ponzi scheme** is a fraudulent investment scam that pays returns to earlier investors using funds from new investors, rather than from legitimate profits. Eventually, the scheme collapses when there aren’t enough new investors to sustain payouts. Critics argue Social Security shares similar traits because:
- Current workers' payroll taxes fund the benefits of current retirees.
- The system relies on a growing workforce to sustain payments.
- It faces financial challenges as the worker-to-retiree ratio declines.

### **Why Social Security Is NOT a Ponzi Scheme**
While there are similarities in structure, **Social Security differs fundamentally** from a Ponzi scheme in key ways:

1. **Legal and Transparent** – Social Security is a government program, not a deceitful scam. It operates under laws, public oversight, and known funding mechanisms.

2. **Tax-Based, Not Investment-Based** – Social Security is not an investment promising unrealistic returns. It is a pay-as-you-go system where workers fund retirees, with adjustments made to maintain solvency.

3. **Adjustments Can Be Made** – Unlike Ponzi schemes, which inevitably collapse, Social Security can be modified (e.g., tax adjustments, benefit changes) to ensure sustainability.

4. **Guaranteed by the Government** – The U.S. government backs Social Security, and while it may require reform, it is not designed to defraud participants for the benefit of a few, as Ponzi schemes do.

### **Potential Concerns**
Though **not** a Ponzi scheme, Social Security **does face funding challenges** due to demographic shifts (aging population, declining birth rates). Without adjustments (raising the retirement age, increasing payroll taxes, etc.), the system may struggle to meet future obligations.

Posted by Goforit
Member since Apr 2019
8720 posts
Posted on 3/5/25 at 12:02 pm to
Dead people should not be on government actice data bases. It only promotes the possibility of people illegally using their identities to vote and to collect benefits they don't deserve.
Posted by CDawson
Louisiana
Member since Dec 2017
20137 posts
Posted on 3/5/25 at 12:05 pm to
quote:

Surely, no one could object to focusing on that?




Right, the filth that wouldn't even stand and applaud a 13 year old brain cancer survivor last night will object to anything that is good for America.
Posted by Clyde Tipton
Planet Earth
Member since Dec 2007
40799 posts
Posted on 3/5/25 at 12:09 pm to
I absolutely believe it.

Doing oil and gas work, I'll sometimes come across property that hasn't had a link in the title chain since the 1950's. You go looking for them and it turns out the person living on the property is a grandson who just keeps paying the property taxes every year. No succession, etc. was ever done on the property for now 2 generations.

What do you think he does with the SS check that keeps showing up? He cashes it...
This post was edited on 3/5/25 at 12:10 pm
Posted by GetmorewithLes
UK Basketball Fan
Member since Jan 2011
22829 posts
Posted on 3/5/25 at 12:11 pm to
quote:

So here’s my question, do we have definitive proof that people aged 200+ have been receiving benefits?



JMHO on this is that many of these excess age people have a record error on their birthdate. SS has only been around about 90 yrs so there is little reason to have beneficiaries in the 150 plus range.
Posted by PaperTiger
Ruston, LA
Member since Feb 2015
26589 posts
Posted on 3/5/25 at 12:14 pm to
Or the thousands of duplicates
Posted by baybeefeetz
Member since Sep 2009
32818 posts
Posted on 3/5/25 at 12:15 pm to
quote:

I’m sure that we do and I’m not questioning Trump,


Yeah, god forbid
Posted by captainFid
Never apologize to barbarism
Member since Dec 2014
10296 posts
Posted on 3/5/25 at 12:16 pm to
quote:

So here’s my question, do we have definitive proof that people aged 200+ have been receiving benefits?

I don't believe so. We have DOGE's reports there are individuals without the 'deceased' flag set WITH real old birth dates.

Somewhere else, it was noted on SS own website - that since 2015, people older than 115 are 'cutoff' from SS payments.

Both of these could be true at the same time...

And even if true, I'd be pissed if I were 116.
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