LOL -- A warning from Napolitano

[Princess Doreen]

The National Immigration Law Center says the money is directed towards the Earnings Suspense File, which is a repository for Social Security taxes which are paid by illegal immigrants who have either used false identities, forged document or incorrect Social Security numbers.

http://www.consumeraffairs.com/news0...ret_stash.html

The U. S. government is getting the benefit of those SS payments. I doubt they're being held in any "Suspense" file. The suspense is how the U. S. government is diverting those funds to pay for something other than the SS Program - much the same as they've diverted a LOT of SS funds. If all the money paid into SS over the decades actually had stayed in a SS account, the program wouldn't be in any trouble whatsoever.

[Antitrust32]

Originally Posted by Princess Doreen

The National Immigration Law Center says the money is directed towards the Earnings Suspense File, which is a repository for Social Security taxes which are paid by illegal immigrants who have either used false identities, forged document or incorrect Social Security numbers.

http://www.consumeraffairs.com/news0...ret_stash.html

The U. S. government is getting the benefit of those SS payments. I doubt they're being held in any "Suspense" file. The suspense is how the U. S. government is diverting those funds to pay for something other than the SS Program - much the same as they've diverted a LOT of SS funds. If all the money paid into SS over the decades actually had stayed in a SS account, the program wouldn't be in any trouble whatsoever.

exactly... its legal stealing

[dellinger63]

Originally Posted by Antitrust32

exactly... its legal stealing

except for the fact the people who pay taxes with legit SS #'s are paying for everything from education to health-care for illegals and familia. Get in a MV accident with one and see who pays no matter who's at fault.

[Nascar1966]

Originally Posted by dellinger63

except for the fact the people who pay taxes with legit SS #'s are paying for everything from education to health-care for illegals and familia. Get in a MV accident with one and see who pays no matter who's at fault.

The illegal wont pay for anything. The legal person will be at fault if any blame will try to be placed on the illegal they will try to sue like the parents are trying of the teenager that was shot by the border patrol scaling a fence on the border.

[Riot]

Originally Posted by dellinger63

except for the fact the people who pay taxes with legit SS #'s are paying for everything from education to health-care for illegals and familia..

Illegals who work and are paying, along with their social security and medicare contributions, state and local taxes out of their paychecks, too, and paying for schools, roads, education, fire and police, health care, etc. And many purchase car insurance. Exactly like legals, or citizens.

[Riot]

Originally Posted by Princess Doreen

If all the money paid into SS over the decades actually had stayed in a SS account, the program wouldn't be in any trouble whatsoever.

SS isn't in trouble. That's just something that people who want to privatize it say. If nothing is done, it's fine until 2037, and after that, it can pay out at 78% of what it should. If nothing at all is ever done. A few small tweaks (raising the cap works very well) and that 78% payout is readily fixed, as has been done in the past.

[Princess Doreen]

Originally Posted by Riot

SS isn't in trouble. That's just something that people who want to privatize it say. If nothing is done, it's fine until 2037, and after that, it can pay out at 78% of what it should. If nothing at all is ever done. A few small tweaks (raising the cap works very well) and that 78% payout is readily fixed, as has been done in the past.

For 2011, FICA is 15.3% up to $106,800 in wages - employee pays half; employer pays half.

Social security payments wouldn't be as high as they are IF the government hadn't frittered away endless amounts of taxpayer SS payments with no intention of paying it back, and IF there wasn't that "Earnings Suspense File" where billions of $$'s are supposedly languishing.

[Riot]

[quote]

Originally Posted by Princess Doreen

For 2011, FICA is 15.3% up to $106,800 in wages - employee pays half; employer pays half.

No, you are way off for 2011, because you didn't finish the quote, above, which continues:

HOWEVER:

Under current law, employees pay a 6.2% Social Security tax on all wages earned up to $106,800 (in 2011) and self-employed individuals pay 12.4% Social Security self-employment taxes on all their self-employment income up to the same threshold.

For 2011, the Senate passed 2010 Tax Reform Act gives a two-percentage-point payroll/self-employment tax holiday for employees and self-employeds. As a result, employees will pay only 4.2% Social Security tax on wages and self-employment individuals will pay only 10.4% Social Security self-employment taxes on self-employment income up to the threshold.

Social security payments wouldn't be as high as they are IF the government hadn't frittered away endless amounts of taxpayer SS payments with no intention of paying it back, and IF there wasn't that "Earnings Suspense File" where billions of $$'s are supposedly languishing.

Why do you think that? Payments are not at the level they are in order to replace lost funds. There have not been SS monies "gone forever", spent illegally by the government. I assume you are referring to surplus SS monies taken from SS Trust Fund and invested (in SS name) in US Treasury securities?

All which still doesn't address the truth that there is no immediate Social Security crisis whatsoever.

[Princess Doreen]

Social Security for 2011 is 4.2% for employees. However, factoring in a Medicare payment, the total employee FICA contribution is 5.65% - my error for saying 6.2%

Further -

http://www.federalbudget.com/

SOCIAL SECURITY is not part of the Federal Budget. It is a separate account and has its own source of income ("Payroll Taxes"). Social Security payments go in the Social Security trust fund, and should NOT be counted as general revenue. The trust fund is supposed to be used to pay future benefits. But....keep reading....

As of August 2010, there is less being paid into the Social Security Trust Fund than is being paid out to beneficiaries. Social Security is now using its "surplus". Government agencies that borrowed from the trust fund, now have to pay the money back. But they've spent it. Where will they get it? More bail outs (taxes) coming. And here is a "must read" about the problem.

http://www.americanthinker.com/2010/...zi_scheme.html

Your payroll taxes are going into a bottomless hole!

http://www.federalbudget.com/socsec.html

Here is a link to the Social Security Administration's FAQ page about the Trust Fund,

http://www.socialsecurity.gov/OACT/P...a/fundFAQ.html

and their latest Report (August 2010).

https://www.socialsecurity.gov/press...e10-pr-alt.pdf

Beware the term "Social Security Surplus"; there is no such thing. Social Security is a Ponzi Scheme, there is never more in the Trust Fund than will ever be needed.

Social Security must be fixed. Here is a debate page.

http://www.federalbudget.com/SSdebate.html

And here is more information on the Root Problem with Social Security.

http://www.federalbudget.com/rootproblem.html

[Nascar1966]

Originally Posted by Princess Doreen

Social Security for 2011 is 4.2% for employees. However, factoring in a Medicare payment, the employee FICA contribution 5.65% - my error for saying 6.2%

Further -

http://www.federalbudget.com/

SOCIAL SECURITY is not part of the Federal Budget. It is a separate account and has its own source of income ("Payroll Taxes"). Social Security payments go in the Social Security trust fund, and should NOT be counted as general revenue. The trust fund is supposed to be used to pay future benefits. But....keep reading....

As of August 2010, there is less being paid into the Social Security Trust Fund than is being paid out to beneficiaries. Social Security is now using its "surplus". Government agencies that borrowed from the trust fund, now have to pay the money back. But they've spent it. Where will they get it? More bail outs (taxes) coming. And here is a "must read" about the problem.

http://www.americanthinker.com/2010/...zi_scheme.html

Your payroll taxes are going into a bottomless hole!

http://www.federalbudget.com/socsec.html

Here is a link to the Social Security Administration's FAQ page about the Trust Fund,

http://www.socialsecurity.gov/OACT/P...a/fundFAQ.html

and their latest Report (August 2010).

https://www.socialsecurity.gov/press...e10-pr-alt.pdf

Beware the term "Social Security Surplus"; there is no such thing. Social Security is a Ponzi Scheme, there is never more in the Trust Fund than will ever be needed.

Social Security must be fixed. Here is a debate page.

http://www.federalbudget.com/SSdebate.html

And here is more information on the Root Problem with Social Security.

http://www.federalbudget.com/rootproblem.html

Have you forgotten that Riot knows all and always has a solution for everything.

[Antitrust32]

Originally Posted by Princess Doreen

Social Security for 2011 is 4.2% for employees. However, factoring in a Medicare payment, the total employee FICA contribution is 5.65% - my error for saying 6.2%

Further -

http://www.federalbudget.com/

SOCIAL SECURITY is not part of the Federal Budget. It is a separate account and has its own source of income ("Payroll Taxes"). Social Security payments go in the Social Security trust fund, and should NOT be counted as general revenue. The trust fund is supposed to be used to pay future benefits. But....keep reading....

As of August 2010, there is less being paid into the Social Security Trust Fund than is being paid out to beneficiaries. Social Security is now using its "surplus". Government agencies that borrowed from the trust fund, now have to pay the money back. But they've spent it. Where will they get it? More bail outs (taxes) coming. And here is a "must read" about the problem.

http://www.americanthinker.com/2010/...zi_scheme.html

Your payroll taxes are going into a bottomless hole!

http://www.federalbudget.com/socsec.html

Here is a link to the Social Security Administration's FAQ page about the Trust Fund,

http://www.socialsecurity.gov/OACT/P...a/fundFAQ.html

and their latest Report (August 2010).

https://www.socialsecurity.gov/press...e10-pr-alt.pdf

Beware the term "Social Security Surplus"; there is no such thing. Social Security is a Ponzi Scheme, there is never more in the Trust Fund than will ever be needed.

Social Security must be fixed. Here is a debate page.

http://www.federalbudget.com/SSdebate.html

And here is more information on the Root Problem with Social Security.

http://www.federalbudget.com/rootproblem.html

kudos Princeth Doreen... you kicked some butt on this topic

[Princess Doreen]

Originally Posted by Antitrust32

kudos Princeth Doreen... you kicked some butt on this topic

Be still my heart.

[Riot]

[quote]

Originally Posted by Princess Doreen

As of August 2010, there is less being paid into the Social Security Trust Fund than is being paid out to beneficiaries.

Yes, but that doesn't mean Social Security is in some immediate and dire crisis. You've posted nothing that has indicated it is.

You've just posted a shotgun of information about Social Security. Good

But the fact remains: Social Security is fine, doing nothing at all, until 2037. At that point, doing nothing, it would still be able to pay out 78%. All it needs is another little tweek, as it's had in the past.

Again, you've posted nothing to indicate that the above statement, what the Social Security administration says is the truth, what they have calculated will happen, is false.

Social Security has never missed an obligation - it's the most successful social program in the world, ever.

[Princess Doreen]

[quote=Riot;750969]

Yes, but that doesn't mean Social Security is in some immediate and dire crisis.

You've just posted a shotgun of information about Social Security. Good

But the fact remains: Social Security is fine, doing nothing at all, until 2037. At that point, doing nothing, it would still be able to pay out 78%. All it needs is another little tweek, as it's had in the past.

Social Security has never missed an obligation - it's the most successful social program in the world, ever.

Social Security is NOT fine. You've just lulled yourself into some false sense of security that it is.

It's the first time in the history of SS that a COLA payment hasn't happened - two years in a row. Hear any warning bells?

How bad does it have to get before you'll realize the program is in trouble? How high a % in payroll deductions and how the amount of wages? And, how is the government going to repay all the money it "borrowed" from the fund? More taxes, more bailouts, etc. And, is there really any money in the "Suspense" fund - you know that account where all the SS payments supposedly go to for the pmts made using fictitious SS #'s?

[Antitrust32]

Originally Posted by Princess Doreen

Social security payments wouldn't be as high as they are IF the government hadn't frittered away endless amounts of taxpayer SS payments with no intention of paying it back, and IF there wasn't that "Earnings Suspense File" where billions of $$'s are supposedly languishing.

[Antitrust32]

Originally Posted by Riot

SS isn't in trouble. That's just something that people who want to privatize it say. If nothing is done, it's fine until 2037, and after that, it can pay out at 78% of what it should. If nothing at all is ever done. A few small tweaks (raising the cap works very well) and that 78% payout is readily fixed, as has been done in the past.

Only in your world Riot. You dont have to worry about 2037 and beyond. Typical democrat view, just thinking about themselves and the present.