Money Matters - Part 6

The simple, yet frightening, answer is, NOTHING. It is not a real trust fund. Each year, the treasury collects the ss tax, pays out all the ss checks, and what's left over (if there is any left over - last year and this year it paid more than it collected) gets converted into a special treasury bond which is nothing more than an IOU. So don't think the money you have paid in is actually sitting somewhere.

This message was edited Jun 1, 2011 3:27 PM

Most of what you pay goes to the current retirees. They spend the rest and issue the IOU.

good grief and still borrow from Foreign countries to give other foreign countries money!

Yes, amazing, isn't it? Everyone talks about the WW2 generation being the greatest, but I have an opposing view. Yes, they won the great war and helped propel this country to number one, but it was also on their watch that all today's problems started. They have left a horrible legacy. Incredibly, many in Congress are still from that vintage. Enough already. Let the younger people have a shot.

Hip Hip Hooray! Lady GaGa for president!! Yippee!

Yeah baby!!!

EWWWWW NOT!!!
I say Gene Simmons or Ted Nugent

Get this - the lumber mill got shut down (last Wed) due to mechanical failure. So Jim is out of work all this week and 2 days last week.

Filed for unemployment.

New law - you have a waiting week and wont get paid. So the government is keeping your money - THIS IS BS !!!!!

IMPORTANT NOTICE: The first week determined to be payable for any initial unemployment claim with a Benefit
Year Beginning on January 3, 2010 or later will not be paid and will be served as a "waiting week" per new Legislation.

Well that stinks

Another dismal jobs report. This economy really sucks.

You should see what the economy is like in the South in the sticks.

It really is what area you're in, there is no sluggish economy here. We are super busy with work and the stores and restaurants don't look like they're hurting at all

Half of the pathetic 54,000 new jobs last month were from one employer - McDonald's!

And not a good sign when long-term gloom and doom set in.

http://www.cnbc.com/id/43268037

Moody’s Warns of Downgrade for U.S. Credit
http://www.nytimes.com/2011/06/03/us/politics/03congress.html?_r=1&nl=todaysheadlines&emc=tha2

That just goes to show all the people eating crap cause it's cheap but then they'll all need better health insurance because of all the medical problems their gonna have

Time for MD's to pay much more taxes, should be double what everyone else pays! "Spread the wealth!..."

Lawyers should be taxed at the highest rate. And then add 10% to it.

Nah... just 'kill' all the lawyers. (Can't remember who said that.)

Everyone.

rotfl

$131 to renew my registration! What a ripoff. Haas gone up o much in so short a time. And they wanted $25 more for the new plate. $45 more for the new plate with the same number. Obscene.

yep, I was complaining about that also when I renewed last mo. didn't bother with the new plate, the old one works fine..

1996 Saturn - 51 city 73.20 state
2000 Chevy Pick Up - 83 City 127.56 state
2004 Car trailer - 16 city 46 state

Total 396.76 and another 80 for inspection for the vehicles. Trailer dont need insp.

Why did you have to get a new plate?

Do you guys have Emissions inspections too? What a joke program. (This from a former Ecology Club gal) Now we have these special buildings where it has to be done on some schedule- no one would have an inefficient car if they had any choice, just for the cost of the gas (down another 2 cents here)

I'm not opening any more bad news links from victor, just too depressing.

No new plates, just a sticker for the plates. Now I think more about it 127.56 for a Sticker!

4.53 for high-test gas in Watermill LI yesterday

Car fees just another way to get money from those able to afford a car.

Down to 3.99 - $4.05/ gal here, (reg).

I have complained about black flies as I am ALLERGIC to the things. I am now going to invest every penny I can into Turtle Neck Shirts !

I swear I put on, off etc and they think I am GOD

Get a bee keeper's garb

Stick a tansy leaf in your hat

I dont wear a hat. Good Grief those flies are brutal. I get sick, when I say sick I mean to the point of throwing up. A bite is bigger then a silver dollar and ache like a tooth ache and freaking hot, throbbing and the kicker is I get kinda weak.

They find me. I am their hero.

Ok then stick it in your pockets and behind your ear

I'd go with Darius' suggestion if it's that bad..

Thanks for all the input on SS $$$....as I read this, whatever is left after SS payments the government takes.
DUH!!!
Still question of what percentage of SS is given to the workers who contributed to it.
Tornado damage in my town, so will be busy cleaning up....as I figure we pay or paid for ins. over many years...lots of $$ when you add it up, so will see what we actually get.

Ugh - good luck, ladyslipper!

Ladyslipper do you mean after the worker retires? What % they are receiving?


Went to have my car inspected and they don't run it thru the rigorous tests anymore here...now what happens to all that equipment that they spent billions of $s on????