5 Social Security myths that have to go

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Myth #2: Social Security benefits are earned; reducing them amounts to confiscation

It's not hard to see why this illusion exists, since Social Security's own website refers to "earned credits" and sometimes refers to payroll taxes as contributions. But despite Social Security's fetish for language that echoes private pensions, no one ever vests in Social Security. You don't own your benefits until you cash the check.

It's more accurate to say your benefits are an entitlement granted by act of Congress and subject to change at any time by another act of Congress. As long as voters consider benefits inviolate, they will be. When voters decide fiscal responsibility is more important, then Social Security benefits -- "earned" or not -- will be up for review.

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says:: My social security check & cost of living raise belongs to me. I worked for it as everyone coming up in my generation & the government is still taking it out of everyones check. It was not for the government to use it for anything else . It is not a handout like medicade. Because the government lives on our taxes & do not pay in to it they want to do away of it. They are overpaid too much & are selfish. If they wanted to help America they would all take a big cut in pay & as the rest of us when they retire they pay their own insurance & we should not have to pay all living presidents's bodyguards. They pay that themselves. We are supposed to live on own when we retire as should they & we should not pay for all these big dinners for all your meetings when there people out here without food. You support all the illegals with free handouts but not the ones who put you in office. I wish the American people would stand together & impeach all of you & take away you big salary forever & see how it feels to work all your life & being treating like our government wished you would die because you are old & cannot support your high lifestyle. You will be old one day & GOD may take all you have HE said the root of all evil is the love of money.JESUS will judge all of you on your own & I am glad I will not be in your shoes, Think about that! What you do to others always comes back to you in the way you put it out! Edith Grishaw; reply

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JohnB321 says:: YES IT CAN BE FIXED....In Canada, once a retiree's income exceeds $67,000 in Canadian dollars, their benefit payment is reduced, until it is completely eliminated at
approximately $150,000 in Canadian dollars. Interestingly, this phase-out feature of the Canadian Social Security system is apparently one of the reasons Canada does not face the same long-term budgetary problems the U.S. faces.".....but you and others of your kind want to do it on the backs of the poor and middle class.; reply

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HollyDerr says:: How are people that have never paid into SS able to recieve money at all?; reply

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ProfessorSmartass says:: Your very first slide is a LIE.

Social Security collected surpluses these last few decades to prepare for the Baby Boomers retirement, and that money was BORROWED FROM Social Security to pay for other expenses.

SS is not running a deficit but simply expecting repayment on that loan.

If politicians borrow money from other countries, banks, or individual investors, there is ZERO talk of defaulting on those loans, so why are they constantly trying to welch on their deal with American workers and Social Security?

Also, SS is the only "pay as you go" national program I know of. If we didn't allow deficit defense spending, we would have no defense and no wars.; reply

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gzbsds says:: Since I'm required to pay into Socail Security Program without anyway to opt out of the Taxation, saying that this is an entitlement is like saying that an Insurance Company (that I'm paying into) has the option not to fullfill their Obligation. We are required to pay into Social Security with promise from our Government. By the way, if you look at the Social Security Website, they say that this is a benefit. "Check your Social Security information or benefits".

Check your Social Security information or benefits; reply

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gerrianumber1 says:: Disabled at the age of 51 I wasn't happy. I had recently lost a business, divorced and lost everything. Then I had to wait to get approved. No one ever told me that working all the time as I did could ruin your health. So while I worked and taught my children NOT to freeload on the government (Never even applied for help of any kind even when I needed it) I paid into social security. I saved as well however catastrophes do happen and all I had in the end was my social security and not ssi either because, you see, I now made too much social security to qualify for ssi, precription drug programs, housing etc etc. And no I do not qualify for food stamps either, yet I do not make enough to live. If I have 4.00 at the end of the month that means I went without something. Sometimes I wish I had taught my children a little about freeloading on the government. Because now when I read this or hear comments like I am a freeloader?? Just plain makes me mad! The people we elect in Washington should no better. Let those goofballs take a pay cut and then we will talk fiscal equality!; reply

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gerrianumber1 says:: Disabled at the age of 51 I wasn't happy. I had recently lost a business, divorced and lost everything. Then I had to wait to get approved. No one ever told me that working all the time as I did could ruin your health. So while I worked and taught my children NOT to freeload on the government (Never even applied for help of any kind even when I needed it) I paid into social security. I saved as well however catastrophes do happen and all I had in the end was my social security and not ssi either because, you see, I now made too much social security to qualify for ssi, precription drug programs, housing etc etc. And no I do not qualify for food stamps either, yet I do not make enough to live. If I have 4.00 at the end of the month that means I went without something. Sometimes I wish I had taught my children a little about freeloading on the government. Because now when I read this or hear comments like I am a freeloader?? Just plain makes me mad! The people we elect in Washington should no better. Let those goofballs take a pay cut and then we will talk fiscal equality!; reply

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ceh4702 says:

just gut ss and medicaid.


careclare replies:: linkicon reporticon emailicon; Non-responsive. Useless reply. Thanks for contributing to the conversation in a serious way. NOT! go back to sleep.

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ceh4702 says:: Actually the money we spend on social security is only part of the problem we spend even more money on medicaid and foodstamps. SS is just the tip of the gigantic freeloader iceberg!; reply

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meads24000 says:

I am 78 years old and social security is my only income. I know I should have been saving money to augment my retirement income, but I didn't. Now, I can't. I've tried to find a job or start a business but it's not worked.

My monthly deposit is due next week, and I have $19 in my bank account. If my social security income is cut or stopped, what should I do, kill myself?


a1newman replies:: linkicon reporticon emailicon; Social Security will not be stopped for those currently receiving benefits. Whether there will be a reduction in the future increases in your benefits I cannot guess. If you own a home, you should consider a reverse mortgage to help your monetary situation. If you don't own a home, you should consider whether moving to a cheaper location in the US would be a way to reduce your expenses.