What was the original intent of social security?

[Orsorum]

Quite honestly. It strikes me as one of the biggest pyramid schemes ever created, and the flaws seem too obvious for the intent to be sincere.

Why not eliminate the social security program and increase the IRA contribution limit to $6000 or so; (or just go with Bush's ideal, raise the limit to something like $7500 a year)

 

[xxxxxJohnGaltxxxxx]

...to help widows and those orphaned as a result of the Civil war.

 

[Tripleshot]

Sure buddy, and disinfranchise millions of older citizens who believed in their government and elected officials, and PAID SS taxes all their lives with the promise of some moticon of independance when they retire. You are a fool. Not to mention the fact your compassion quotient is below deplorable. Do you brag that you are a compasionete conservative? This doesn't strike you as a pyramid scheme. you are incapable of original thought. You just parrot Rush Limbaugh or Sean Hannity and fall in line like lemmings.

 

[Orsorum]

Originally posted by: xxxxxJohnGaltxxxxx
...to help widows and those orphaned as a result of the Civil war.

The civil war? I thought it was WWI or II. But I could be wrong, I usually am.

 

[AvesPKS]

Originally posted by: Orsorum
Quite honestly. It strikes me as one of the biggest pyramid schemes ever created, and the flaws seem too obvious for the intent to be sincere.

Why not eliminate the social security program and increase the IRA contribution limit to $6000 or so; (or just go with Bush's ideal, raise the limit to something like $7500 a year)

You are only looking at the old-age insurance part of SS. There are also survivor's benefits, widow's benefits...

 

[xxxxxJohnGaltxxxxx]

"We can never insure one hundred percent of the population against one hundred percent of the hazards and vicissitudes of life, but we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age."

--President Roosevelt upon signing Social Security Act

 

[AvesPKS]

Originally posted by: Orsorum

Originally posted by: xxxxxJohnGaltxxxxx
...to help widows and those orphaned as a result of the Civil war.

The civil war? I thought it was WWI or II. But I could be wrong, I usually am.

Considering it wasn't signed into law until 1935, you are right...

 

[Orsorum]

Originally posted by: xxxxxJohnGaltxxxxx
"We can never insure one hundred percent of the population against one hundred percent of the hazards and vicissitudes of life, but we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age."

--President Roosevelt upon signing Social Security Act

Interesting quote. I knew it was enacted during the Great Depression, but we never studied it in-depth in my AP US History course.

 

[xxxxxJohnGaltxxxxx]

Originally posted by: Orsorum

Originally posted by: xxxxxJohnGaltxxxxx
...to help widows and those orphaned as a result of the Civil war.

The civil war? I thought it was WWI or II. But I could be wrong, I usually am.

The Social Security Act of '35 (or was it '36? ..bad with dates, but usually in the ballpark ) is just the evolution of the Civil War Pension Fund...same means to achieve the same ends; you are correct, though, that it has changed over the year and was also used to alleviate the economic woes of those widows who lost family members in both WWI and WWII.

 

[Orsorum]

Originally posted by: xxxxxJohnGaltxxxxx

Originally posted by: Orsorum

Originally posted by: xxxxxJohnGaltxxxxx
...to help widows and those orphaned as a result of the Civil war.

The civil war? I thought it was WWI or II. But I could be wrong, I usually am.

The Social Security Act of '35 (or was it '36? ..bad with dates, but usually in the ballpark ) is just the evolution of the Civil War Pension Fund...same means to achieve the same ends; you are correct, though, that it has changed over the year and was also used to alleviate the economic woes of those widows who lost family members in both WWI and WWII.

Makes sense. I need to brush up on my US economic history.

 

[Orsorum]

Originally posted by: Tripleshot
Sure buddy, and disinfranchise millions of older citizens who believed in their government and elected officials, and PAID SS taxes all their lives with the promise of some moticon of independance when they retire. You are a fool. Not to mention the fact your compassion quotient is below deplorable. Do you brag that you are a compasionete conservative? This doesn't strike you as a pyramid scheme. you are incapable of original thought. You just parrot Rush Limbaugh or Sean Hannity and fall in line like lemmings.

?

Someone has some pent up anger they need to release.

If I insinuated in my post that I intended for benefits paid up to this point to be dissolved, I apologize. But I do believe that being given the option to invest in a fund from which I will most likely receive no benefit is not the most equitable solution for me or any other person who already has other plans for retirement.

I don't listen to Limbaugh, and to be honest I don't even know who Sean Hannity is. I tend to be quite liberal in my tendencies, this is just one of those programs that seems as though it needs massive reform and some optional opt-out provision.

 

[Spencer278]

Originally posted by: Tripleshot
Sure buddy, and disinfranchise millions of older citizens who believed in their government and elected officials, and PAID SS taxes all their lives with the promise of some moticon of independance when they retire. You are a fool. Not to mention the fact your compassion quotient is below deplorable. Do you brag that you are a compasionete conservative? This doesn't strike you as a pyramid scheme. you are incapable of original thought. You just parrot Rush Limbaugh or Sean Hannity and fall in line like lemmings.

Be f-ing deal if we break the promise that old people made to the younger generations money and who elected the goverment the old people so they shouldn't blame others for not being able to support themselves.

 

[xxxxxJohnGaltxxxxx]

Originally posted by: Orsorum


Makes sense. I need to brush up on my US economic history.

...sit for a 'History of Economic Thought' class

The 'true' origins date back to the English 'Poor Laws'. You'll get introduced to my favorite wacky economists, Malthus and his Malthusian economic theories He did, however, put forth a good argument against the Poor laws...a good read if you are into economics.

[Edit] removed the 'Corn Laws' out, as Malthus supported those...always lump Corn and Poor laws together My mistake.

 

[Nitemare]

Originally posted by: Orsorum

Originally posted by: xxxxxJohnGaltxxxxx
"We can never insure one hundred percent of the population against one hundred percent of the hazards and vicissitudes of life, but we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age."

--President Roosevelt upon signing Social Security Act

Interesting quote. I knew it was enacted during the Great Depression, but we never studied it in-depth in my AP US History course.

He should have had a term limit as well and should have ended maybe 10 years after it was signed....as the other socialist bill that was passed around that time, welfare, should have ended after a fixed amount of time.

 

[MemberSince97]

It was meant for a supplementle savings program, not a catch all social service fund..

 

[BOBDN]

Originally posted by: Nitemare

Originally posted by: Orsorum

Originally posted by: xxxxxJohnGaltxxxxx
"We can never insure one hundred percent of the population against one hundred percent of the hazards and vicissitudes of life, but we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age."

--President Roosevelt upon signing Social Security Act

Interesting quote. I knew it was enacted during the Great Depression, but we never studied it in-depth in my AP US History course.

He should have had a term limit as well and should have ended maybe 10 years after it was signed....as the other socialist bill that was passed around that time, welfare, should have ended after a fixed amount of time.

Social Security was signed into law by President Franklin Roosevelt. The welfare system as we know it was part of President Lyndon Johnson's Great Society.

One point the people who would like to end Social Security fail to take into consideration, millions of workers have already contributed to Social Security ALL OF THEIR LIVES. The money we have invested in SS is only recoverable in retirement benefits. If we lose those benefits a large part of our retirement is gone. And we don't have the opportunity to invest the thousands of dollars we paid into the system over the years.

It's unfair to have millions of people pay into a system that assures them a benefit and then when the payment is due tell them they paid into the system for nothing. They were robbed. If SS is ended the people who paid into the system must be guaranteed their benefits or paid a lump sum. It's only fair. The money we were forced to pay into SS over our entire lives could have been invested, but we were forced to pay it into SS.

One more point. If the payroll deductions for SS had been used for the SS system instead of filling holes in the budget over the years the system would be solvent. SS runs a surplus every year. The Feds skim the surplus and use the money meant for SS as part of the general fund. Don't blame the SS system. It works fine. Blame the politicians who can't balance a budget without robbing SS.

 

[Lucky]

Someone has some pent up anger they need to release.

Don't take it personally, his menopausal hot flashes make him quite moody.

 

[Zebo]

What happens to the ~200,000 I and employers already paid in? I want it back.

Edit: but you're right about pyramid scheme. Biggest ever especially since they spent the surplusses since it's founding iinstead of buying tbills or other investment.