Check your W2

[kom526]

You know, I've never understood that

I mean, where is it going?

=/

People are living longer in retirement so more benefits go out for longer periods of time. Also I BELIEVE (someone will correct me if I'm wrong) but the powers that be has/had a bad habit of dipping into the SS jar to close funding gaps.

 

[Kerad]

What bugs me is everyone forecasting that Social Security may not even be around when we need it, so all that money we invest into the system we may never collect on....

We're not investing in social security to cover our future SS checks. We're financing the SS payments that are going out now. Our SS will be covered by the younger generations as they're paying into it. I know that's not how it's supposed to work...but still.

At least that's my understanding of it...I may be wrong. :shrug:

 

[GWguy]

We're not investing in social security to cover our future SS checks. We're financing the SS payments that are going out now. Our SS will be covered by the younger generations as they're paying into it. I know that's not how it's supposed to work...but still.

At least that's my understanding of it...I may be wrong. :shrug:

You got it... right on the money.. (pun intended..)

 

[vegmom]

And see how much you paid in taxes over the year.

Scary, isn't it?

And what's even scarier? Your employer paid in SS and Medicare to match what you paid. PLUS federal and state unemployment.

That's a lot of money.

Too bad it goes to deadbeats and foreign nations instead of in your pocket, isn't it?

Actually SS and Medicare payments go to folks like my Grandmother. And she spent some time on unemployment during the Bush Sr. years after the company she'd worked for for 20+ years went under. She paid her fair share into all these pots during her working years and worked until her back gave out well into her 60s.

They ain't all JPC.

 

[kom526]

Actually SS and Medicare payments go to folks like my Grandmother. And she spent some time on unemployment during the Bush Sr. years after the company she'd worked for for 20+ years went under. She paid her fair share into all these pots during her working years and worked until her back gave out well into her 60s.

They ain't all JPC.

Are you implying that it was H.W.'s fault that her company went under?

 

[vegmom]

Tell me where in La Plata you can live cheaply? I'm just adding up what shows as taxes on my paycheck.



I taught NJROTC at Westlake for a year after I retired from the Navy. After the school year ended, I looked for another job, and applied for unemployment benefits. I was told I don't qualify for unemployment benefits, but my employers still have to pay into the system.

If you are recieving retirement benefits that probably disqualified you from unemployment.

 

[vegmom]

Are you implying that it was H.W.'s fault that her company went under?

Why do you think that? Because I'm a Democrat?

No- that was the fault of the company's owners. And there was a recession during the time of Bush 1's presidency. Kind of made if difficult for her to find a job. Ended up taking temp jobs to fill in the gaps until she could find permanent emloyment.

 

[kom526]

Why do you think that? Because I'm a Democrat?

No- that was the fault of the company's owners. And there was a recession during the time of Bush 1's presidency. Kind of made if difficult for her to find a job. Ended up taking temp jobs to fill in the gaps until she could find permanent emloyment.

The wording of the post makes it sound like it was his fault. Sorry. You being a D has nothing to do with it, I try not to think in just black and white.

The company I worked for also went belly up in 91. I had just gotten back from Desert Shield/Storm moved to FL briefly then returned and promptly got shuttered out.

 

[bcp]

And see how much you paid in taxes over the year.

Scary, isn't it?

And what's even scarier? Your employer paid in SS and Medicare to match what you paid. PLUS federal and state unemployment.

That's a lot of money.

Too bad it goes to deadbeats and foreign nations instead of in your pocket, isn't it?

Pedro, Pepe, Heysuess (I leave Jesus alone) and Taco thank you.

 

[cwo_ghwebb]

If you are recieving retirement benefits that probably disqualified you from unemployment.

I do receive a retirement stipend from the Navy and yes, that disqualifies me from unemployment benefits. It doesn't disqualify any of my employers from paying unemployment insurance for me though. That's kinda wierd, especially since most military retirees are fairly young when they retire and start a second career.

 

[vegmom]

I do receive a retirement stipend from the Navy and yes, that disqualifies me from unemployment benefits. It doesn't disqualify any of my employers from paying unemployment insurance for me though. That's kinda wierd, especially since most military retirees are fairly young when they retire and start a second career.

I know- have family that retired from the Army and Marines. Uncle retired early after being hurt in the line of duty (police officer) to the point he could not do that job anymore, but he's done other things since.