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Old 06-20-2011, 04:00 PM  
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Some very good points though.
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Old 06-20-2011, 04:31 PM  
mohel
 
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the problem is many are NOT frivilous and will lead to a life time of expenses
I fully support real claims but not those solicited bu ambulance chasing TV ads. In Philly after a bus accident 2o people ran into the crashed bus to claim injuries. That's frivolous.
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Old 06-20-2011, 04:35 PM  
mohel
 
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" however yes we have taken money out of that trust fund to use for other needs so the overall deficit is still there, so essentially at the end of the day the government is using your retirement money to pay for war."

Did you get asked for permission? After all. it's our money. I sure didn't want to fund any Bush OILWARS and I don't want them continued by democrats.


If a country and it's leaders call you an army of occupation to me that means the JOB IS DONE!
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Old 06-20-2011, 04:48 PM  
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Just where does the SS trust fund reside? If in a vault then it doesn't grow. If it is interest bearing who would pay the interest? Is it not but a Ponzi scheme of gigantic proportions? While SS was being spent as off-budget funds even making the budget appear to have a surplus at times my IRA was continually growing. Sure it lost 30% or more in 2008 but its now recovered with approx 18% additional growth.
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Old 06-20-2011, 05:34 PM  
mohel
 
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453 million served

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where does the SS trust fund reside?
You could look it up....

Q27: Do the Social Security Trust Funds earn interest?

A: Yes they do. By law, the assets of the Social Security program must be invested in securities guaranteed as to both principal and interest. The Trust Funds hold a mix of short-term and long-term government bonds. The Trust Funds can hold both regular Treasury securities and "special obligation" securities issued only to federal trust funds. In practice, most of the securities in the Social Security Trust Funds are of the "special obligation" type. (See additional explanation from SSA's Office of the Actuary.)

The Trust Funds earn interest which is set at the average market yield on long-term Treasury securities. Interest earnings on the invested assets of the combined OASI and DI Trust Funds were $55.5 billion in calendar year 1999. This represented an effective annual interest rate of 6.9 percent.

The Trust Funds have earned interest in every year since the program began. More detailed information on the Trust Fund investments can be found in the Annual Report of the Social Security Trustees and on the Actuary's webpages concerning the Investment Transactions and Investment Holdings of the Trust Funds.

but then your little comment would have been unnecessary huh?

Social Security history Frequently Asked Questions

Q19: How many Social Security numbers have been issued since the program started?

A: Social Security numbers were first issued in November 1936. To date, 453.7 million different numbers have been issued.
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Old 06-21-2011, 10:46 AM  
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So the taxpayer pays the interest on his own retirement funds, very interesting when compared with privatization!
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