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Originally Posted by Bob Kontak
SSI is a bought and paid for retirement benefit by the recipients.
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You’re emotionally attached.
https://www.ssa.gov/history/idapayroll.html
Quote:
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Ida May Fuller worked for three years under the Social Security program. The accumulated taxes on her salary during those three years was a total of $24.75. Her initial monthly check was $22.54. During her lifetime she collected a total of $22,888.92 in Social Security benefits.
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The first SS recipients did not pay much of anything, yet they collected. The worker:retiree ratio made everything work for a time.
It is a Ponzi scheme. You paid for your parents to retire. I am paying for Boomers to retire. Just looking at it for what it is.