Next in line for a bailout...

[Dejanh]

Next in line for a bailout: Social Security - Feb. 2, 2010

[cdswans]

From the article . . "Until this year, Social Security was a problem for the future. Now it's a problem for the present."

That's why I'm sticking with lottery tickets!

I read something a few years ago that detailed a legal means to opt out of Social Security. I'll post a link if I can find it. First off, you have to be ready to give up anything you've already paid in. If you're young, it may not be such a big hit and I'd recommend you consider it. Unfortunately, I've been paying in since 1969 . . as if that matters if this article is accurate. You can go to the Social Security website and see how much you have in but I don't remember how to do it. If you do decide to opt out, the biggest obstacle you're likely to encounter is getting your employer to go along with it but, if (link below) "THE ERRANT SOVEREIGN'S HANDBOOK" is accurate, you have the law on your side.

I found it: http://www.supremilated.com/Recon/Er...gnHandbook.pdf

Scroll down to chapter 8 or specifically, page 49.

Now I've gone and done it! Some of you are going to dismiss the whole thing (110 page pdf file) as hogwash and, to be honest, I can't say as I blame you. This is not the stuff we were taught in civics class. I didn't write it and have only researched a small piece of it. This was sent to me by a real judge in response to a question I had about the IRS. He became aware of the handbook as a result of a lawsuit against a title company. It wasn't his case but he and I know the parties involved. Everything appears to be factual and accurate and applies uniformly, for the most part, across all 50 states.

Let me advance one more conspiracy while I'm at it . . it's not a conspiracy. The part I researched was 100% on the money.

[Roadhog]

I got my s/s card in 1965 at age 13, washing dishes in a restaurant. My wages back then was $1.35 an hour.

We were told from the beginning s/s was just to help supplement our retirement.
I'll sign up for medicare at 65 and social security at 66, if I happen to still be alive, and those programs are still offered.

All these programs are going to start crashing down on top of us, and what this means is, everyone is going to be paying huge taxes.
But good luck getting politicians to cut waste and spending and reduce the size of gubbermunt.

[Jackrabbit379]

As most of yall know, I'm not the sharpest pencil in the drawer, but how can Social Security be in the hole, when they withdraw it from all of us? Or is it that they are losing it from retirees?

I've heard (here-say) that Social Security probably won't be around by the time the younger generation retires.
That would be my luck. All these years, they've taken it out of my check, and when I retire, they say, "Sorry Mr. Rabbit, but you cannot collect Social Security. We no longer have it."

[cdswans]

As most of yall know, I'm not the sharpest pencil in the drawer, but how can Social Security be in the hole, when they withdraw it from all of us? Or is it that they are losing it from retirees?

You nailed it. On top of a bunch of other waste, fraud and abuse, the system currently pays out more than it takes in . . it's upside down.

[Jackrabbit379]

You nailed it. On top of a bunch of other waste, fraud and abuse, the system currently pays out more than it takes in . . it's upside down.

That is crazy! Hard to believe. I guess there are so many that are now collecting, they aren't getting as much. I reckon they will be taking more Social Security out of our checks, to compensate. I hope they haven't given mine away.

[jonp]

It's in the hole because quite some time ago government, facing a budget shortfall begain moving the revenues taken in from social security to the general fund and replaced them with IOU's. There is really no money there just a promise of paying it when the time comes. If you think that all the ss taxes taken out of your paycheck over the years is sitting in an account with your name on it you are sadly mistaken.

When you are figuring up your retirement and how much money you are going to need in your 401k, Roth, 403B etc... you would be wise to ignore social security. You will probably never see anything from this time-bomb.

[zipy46]

The politicians will continue to use Social Security as a platform ...

even after its dried up and blown away.

Just like cats sitting on window ledges....Its what they do .