Why I am greatful that Hawaii is a "welfare state"

[HereOnThePrimalEdge]

quote:

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Originally posted by afwjam

You honestly believe that UKJ made up her children? Strange.

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The problem is, when you cry "wolf" too many times with absolutely no proof there is a wolf, just IMO, people start wondering if the pet dog that's been mentioned even exists.

[kalakoa]

Actually, everyone is "confused" about the money thing, and government prefers it that way, makes their job easier.

The SS "trust fund" is actually held in Treasury bonds backed by "the full faith (and credit) of the people", while we are led to believe in some kind of "lock-box" that has real assets inside. It's really more like a Ponzi scheme, except that it's run by the government, which somehow magically makes it not "a scam". Armchair economists will disagree, entertaining discussions will ensue, in the end it does not really matter.

I have yet to retire: this means that for me, the promise of SS is purely theoretical, regardless of how it's "actually" funded. If my future self is able to collect SS checks, I will at that time not care where the money is actually coming from.

[Bullwinkle]

So...... who is going to work to actually pay in to said trust fund today .......

[HereOnThePrimalEdge]

quote:

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Originally posted by kalakoa

SS "trust fund" is actually held in Treasury bonds backed by "the full faith (and credit) of the people." ...it's run by the government, which somehow magically makes it not "a scam".

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While that may be true, the same agreement can be made to describe dollars or marks or yen. Any currency is just paper that both sides agree has a specific value. It's all made up, but we go along with it as it will smooth transactions when you wish to buy (trade) for something. What's in your wallet? Probably not opihi shells.

[unknownjulie]

IF you go and read the actual FAQ about the "trust funds" you'll see that no money at all is currently going into them. The tax money, on a daily basis is being exchanged for treasuries- which are then immediately converted into cash and used. That is what I am so upset about. The BB's are taking all of the payroll taxes and also, taking from the trust fund on a daily basis!

[Bullwinkle]

so.... how much are you paying in? ..... you need to reach out to other sources as well

here is the balance sheet:

http://www.ssa.gov/oact/STATS/table4a3.html

about time to close the thread - this horse is long dead...... and isn about Hawaii at all imho

[Obie]

UKJ,

I just checked and found that I 1st paid into SS in 1963.The amount that my employers and I paid is fairly large and I have calculated that it will take 9 1/2 years before I exhaust that amount.

Is it ok if I continue to collect until I break even or should I quit now so that my contributions will be there to be paid out to you.

[HereOnThePrimalEdge]

You got that right Bullwinkle. It's even created another thread called "what the heck is that horrible stink."
http://www.punaweb.org/forum/topic.asp?TOPIC_ID=16970
Don't think it's been pinpointed yet, but IMO the dead horse scent over here jumped threads.

[Carey]

"so.... how much are you paying in? "

Based on the info she has given, I don't think that UKJ is contributing much, if anything! as she has told us that she is un or underemployed with 3 degrees:
She also is a single mother, divorced from a baby boomer
Has bought acreage & is working on her lot Orchidland
Is now buying a house in Piihonua.
She does not like hiring people to do much of the work that the lot & house will need

I have no idea how she will do all of the work keeping up what she has, and pay for us "greedy" oldsters with a full paying job....

I sure as heck did not have all of the "extra" time commitments she has at her age, but hubby & I both did have 8+ hour a day jobs that paid taxes, without many of the exemptions she may have....

ADDED:this statement is not for or against anyone, just answering a question with the facts given previously on this forum...pretty much what I am known for... sorry if any one person took this as an offense!

[unknownjulie]

Carey, I consider that a personal attack on me, and I do not appreciate it. I have paid into the social security system from the age of 14, when I worked in my grandmother's antique shop. I also, then went on to work for 20 yrs in hospitals at decent wages. Just because at the moment, because I have small children- I am taking a short breather from paying as much in, as in the past- does not mean that I am not a "contributor" by nature. My next degree will have me employed at good wages and be paying in again. Be greatful Carey, that some of us X'ers really do have a good work ethic! YOu need us to keep paying into the system to support you!