Excuse me while I gouge my eyes out with a baseball bat........

reefraff

reefraff

Active Member
Quote:Originally Posted by bionicarm http:///t/392363/excuse-me-while-i-gouge-my-eyes-out-with-a-baseball-bat#post_3483462
How does the employer part come out of my pocket? When I was working for a salkary, I got paid a set wage. On my paystub, it showed the 7% - 7.5% deductions for SS and Medicare. THAT'S IT. No other money was taken out of my paycheck from my employer. So exactly where did I pay this other half of those taxes?
Social Security refers to the Old-Age, Survivors, and Disability Insurance (OASDI) federal program.[sup][1] The original Social Security Act (1935)[sup][2][/sup] and the current version of the Act, as amended[3][/sup] encompass several social welfare and social insurance programs.
You need to quit watching Fox News with them telling you how Obama is going to turn this country into a Socialist state.
It's part of the cost of employing you, of course it comes out of your pocket. If you were not employed it would not be paid. The payment that is made is attributed to your social security account.
 
sweat90lx

sweat90lx

Member
Quote:
Originally Posted by bionicarm http:///t/392363/excuse-me-while-i-gouge-my-eyes-out-with-a-baseball-bat#post_3483463
The Railroad Retirement Board is run almost identical to Social Security. You still pay the same taxes as those who pay SS and Medicare, your money just goes into a different governemnt kitty.
http://www.rrb.gov/opa/agency_overview.asp
http://www.ssa.gov/policy/docs/ssb/v68n2/v68n2p41.html
I actually pay more than SS and Medicare. The RRB is not going bankrupt like SS though.
 
bionicarm

bionicarm

Active Member
Quote:
Originally Posted by reefraff http:///t/392363/excuse-me-while-i-gouge-my-eyes-out-with-a-baseball-bat/20#post_3483469
It's part of the cost of employing you, of course it comes out of your pocket. If you were not employed it would not be paid. The payment that is made is attributed to your social security account.
That makes no sense. If I wasn't employed, I wouldn't be paying anything into my SS account either.
To qualify for benefits, you earn "credits" through your work - up to four each year. This year, for example, you earn one credit for each $1,130 of wages or self-employment income. When you've earned $4,520, you've earned your four credits for the year. Most people need 40 credits, earned over their working lifetime, to receive retirement benefits. For disability and survivors benefits, young people need fewer credits to be eligible.
If you have enough work credits, we estimated your benefit amounts using your average earnings over your working lifetime. For 2012 and later (up to retirement age), we assumed you'll continue to work and make about the same as you did in 2010 or 2011. We also included credits we assumed you earned last year and this year.
The amount you get each month also depends on the year you retire. Retire early at 62. you get almost half of what you'd get if you waited and retired at 70. So the amount you get paid each month depends how much you made each yerar, not the amount of taxes you personally put into your account. Go unemployed a few years, and you average annual lifetime earning go down as well.
 
bionicarm

bionicarm

Active Member
Quote:
Originally Posted by sweat90lx http:///t/392363/excuse-me-while-i-gouge-my-eyes-out-with-a-baseball-bat/20#post_3483482
I actually pay more than SS and Medicare. The RRB is not going bankrupt like SS though.
That's because the percentage of retiring railroad workers is probably 1% of the individuals who have or will be retiring over the next couple decades. There were approximately 76 million Baby Boomers born between 1946 to 1964. Those individuals started retiring last year. By the time 2029 rolls around, you'll probably have around 50 - 60 million of them still alive all on the Social Security payment rolls. That's why SS will be going bankrupt pretty son.
 
flower

flower

Well-Known Member
Quote:
Originally Posted by bionicarm http:///t/392363/excuse-me-while-i-gouge-my-eyes-out-with-a-baseball-bat/20#post_3483486
That's because the percentage of retiring railroad workers is probably 1% of the individuals who have or will be retiring over the next couple decades. There were approximately 76 million Baby Boomers born between 1946 to 1964. Those individuals started retiring last year. By the time 2029 rolls around, you'll probably have around 50 - 60 million of them still alive all on the Social Security payment rolls. That's why SS will be going bankrupt pretty son.
You do not collect from the RRB if you have never worked and you parents drank
You do not collect from the RRB if you are born retarded and can't ever work
You do not collect from the RRB if you were born deformed and can't work
You can not collect from the RRB if you are a drug addict and won't work
You do not collect from the RRB if go to a lawyer to back up that you "can't work" even though you joined the gym and workout anyway
SS pays for people who have never contributed. The government has no business taking funds from that pot for those people. The government should spend less to find out if there was ever water on Mars, and create a fund for the people in our nation who need to live on benifits and could never/wont ever contribute like the rest of the people who do.
I love my country, but our government officials are idiots.
SS is in trouble because it pays out to people who have never contributed and never will. The bayboomers may indeed have created a strain, but this is why SS is going belly up. On top of it all, SS wants the RRB to unite their money into the never ending drain.
 
reefraff

reefraff

Active Member
Quote:
Originally Posted by bionicarm http:///t/392363/excuse-me-while-i-gouge-my-eyes-out-with-a-baseball-bat/20#post_3483484
That makes no sense. If I wasn't employed, I wouldn't be paying anything into my SS account either.
To qualify for benefits, you earn "credits" through your work - up to four each year. This year, for example, you earn one credit for each $1,130 of wages or self-employment income. When you've earned $4,520, you've earned your four credits for the year. Most people need 40 credits, earned over their working lifetime, to receive retirement benefits. For disability and survivors benefits, young people need fewer credits to be eligible.
If you have enough work credits, we estimated your benefit amounts using your average earnings over your working lifetime. For 2012 and later (up to retirement age), we assumed you'll continue to work and make about the same as you did in 2010 or 2011. We also included credits we assumed you earned last year and this year.
The amount you get each month also depends on the year you retire. Retire early at 62. you get almost half of what you'd get if you waited and retired at 70. So the amount you get paid each month depends how much you made each yerar, not the amount of taxes you personally put into your account. Go unemployed a few years, and you average annual lifetime earning go down as well.
By virtue of being employed your boss has to pay an extra 7.5% of what they pay you into FICA. You don't think that affects your pay level? For someone who claims to be a business owner you sure have an odd way of looking at things.
 
darthtang aw

darthtang aw

Active Member

 
By virtue of being employed your boss has to pay an extra 7.5% of what they pay you into FICA. You don't think that affects your pay level? For someone who claims to be a business owner you sure have an odd way of looking at things.
He doesn't have employees...he highers contractors...
 
bionicarm

bionicarm

Active Member
Quote:
Originally Posted by reefraff http:///t/392363/excuse-me-while-i-gouge-my-eyes-out-with-a-baseball-bat/20#post_3483510
By virtue of being employed your boss has to pay an extra 7.5% of what they pay you into FICA. You don't think that affects your pay level? For someone who claims to be a business owner you sure have an odd way of looking at things.
They base what you get in monthly payments on the average of your annual salary. My salary, or what I made at the end of the year would be reflected in my SS benefits regardless if I the employer paid half or not. The employer has to report what my wages were. based on those wages,
 
reefraff

reefraff

Active Member
Quote:
Originally Posted by bionicarm http:///t/392363/excuse-me-while-i-gouge-my-eyes-out-with-a-baseball-bat/20#post_3483516
They base what you get in monthly payments on the average of your annual salary. My salary, or what I made at the end of the year would be reflected in my SS benefits regardless if I the employer paid half or not. The employer has to report what my wages were. based on those wages,
And the employer is required to make quarterly FICA payments to YOUR account on the amount withheld from your paycheck and the hidden amount they pay as well. But keep trying. I need a good laugh today.
 
sweat90lx

sweat90lx

Member
Quote:
Originally Posted by bionicarm http:///t/392363/excuse-me-while-i-gouge-my-eyes-out-with-a-baseball-bat/20#post_3483486
That's because the percentage of retiring railroad workers is probably 1% of the individuals who have or will be retiring over the next couple decades. There were approximately 76 million Baby Boomers born between 1946 to 1964. Those individuals started retiring last year. By the time 2029 rolls around, you'll probably have around 50 - 60 million of them still alive all on the Social Security payment rolls. That's why SS will be going bankrupt pretty son.
I agree. Railroad basically turns over its workforce every 30 years. While we draw a great retirement, we also tend to not live long after retiring(maybe I should be concerned about that).
IMO its not the so many baby boomers are retiring, its that their jobs are not being replaced. Advancements in technology and jobs going overseas is the problem. There are not as many people paying into SS as those that are or will be drawing from it.
 
reefraff

reefraff

Active Member
If I were the Republicans I would be slapping the Democrats about the head and shoulders vigorously over this issue. They celebrated defeating Bush's SS fix but never even attempted to offer their own fix. Not to say the Republicans don't share the blame but love him or hate him Bush was the only president with the stones to breech the 3rd rail. That left the ball in the Dems court and they ignored it.
 
mantisman51

mantisman51

Active Member
HMMMM, DHS cooperating with the Mexican government on food stamps. RACISTS! They are insinuating Mexicans and American Hispanics are more likely to need and want food stamps. BIGOTS! RACISTS! HOMOPHOBES! WIFE BEATERS! Uh, did I forget any liberal buzz words?
 
bionicarm

bionicarm

Active Member
Quote:
Originally Posted by reefraff http:///t/392363/excuse-me-while-i-gouge-my-eyes-out-with-a-baseball-bat/20#post_3483585
If I were the Republicans I would be slapping the Democrats about the head and shoulders vigorously over this issue. They celebrated defeating Bush's SS fix but never even attempted to offer their own fix. Not to say the Republicans don't share the blame but love him or hate him Bush was the only president with the stones to breech the 3rd rail. That left the ball in the Dems court and they ignored it.
That sound like the current Republican mantra and they're supposed "fix" to Obamacare. They talk about all the evils of that program, but provide absolutely no solutions or alternatives. The one's they have supposedly offered, sound right out of the Obamacare playbook.
 
reefraff

reefraff

Active Member
Quote:
Originally Posted by bionicarm http:///t/392363/excuse-me-while-i-gouge-my-eyes-out-with-a-baseball-bat/20#post_3483805
That sound like the current Republican mantra and they're supposed "fix" to Obamacare. They talk about all the evils of that program, but provide absolutely no solutions or alternatives. The one's they have supposedly offered, sound right out of the Obamacare playbook.
They offered up plenty of fixes all of which Harry Reid and Nancy Pelosi killed. Tort Reform, buying across state lines, Medicaid reform etc.
 
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