Tankfixer
9/19/2011 12:36:00 AM
In article <Xns9F629699CC2DChopewell@216.196.121.131>, - RD Sandman
rdsandman@comcast[remove].net spouted !
>
> Tankfixer <paul.carrier@gmail.c00m> wrote in
> news:MPG.28dd4a40ada932aa18c8@news.eternal-september.org:
>
> > In article <Xns9F6280F38D0F9hopewell@216.196.121.131>, - RD Sandman
> > rdsandman@comcast[remove].net spouted !
> >>
> >> Tankfixer <paul.carrier@gmail.c00m> wrote in
> >> news:MPG.28dd41025ac0ecc818c5@news.eternal-september.org:
> >>
> >> > In article <4e73849d$0$2005$607ed4bc@cv.net>, - Ed Huntress
> huntres23
> >> > @optonline.net spouted !
> >> >>
> >> >> "Tankfixer" <paul.carrier@gmail.c00m> wrote in message
> >> >> news:MPG.28dd2234c4a8155318c0@news.eternal-september.org...
> >> >> > In article <j4vsqp$p7$1@blue-new.rahul.net>, - Edward A. Falk
> >> >> > falk@rahul.net spouted !
> >> >> >>
> >> >> >> In article <v7udnavENLdqYezTnZ2dnUVZ_qqdnZ2d@giganews.com>,
> >> >> >> Uno Hu <lorad474@cs.com> wrote:
> >> >> >> >
> >> >> >> >There is no 'ponzi scheme'.
> >> >> >>
> >> >> >> Generally, the only people claiming Social Security is broke are
> >> >> >> the ones who want to break it.
> >> >> >
> >> >> > Tell you what, cash me out.
> >> >>
> >> >> You've accrued nothing of redeemable value. It's pay-as-you-go.
> >> >
> >> > Then why do they send me a printout of my contributions to date each
> >> > year ?
> >>
> >> Because those contributions set the table for the amount of money you
> >> will be paid in either early retirement or full retirement. There is
> no
> >> specific amount being stored for you.
> >
> > Sort of an IOU then...
> > Of what I've paid in and can expect to be repaid.
>
> Nope.....just a listing so that when you retire they can look at the last
> 10 years and set what category you will be paid in on your checks. It
> really has no correlation to what you paid in other than to set a level.
> If you had only paid in for 10 years but the same amount annually, you
> would get an SS check in the same amount as if you had paid for thrity
> years with the same amounts for the last 10.
>
> Remember when this thing first stated, the first recipients had paid in
> nothing. So make sure your representatives in Congress vote to change SS
> so that it remains viable.....or you may be in a situation where the last
> recipients also get nothing.
Boy, that sounds an awful lot like a .. Ponzi scheme...