What happens to Social Security money not collected by individuals when eligible?
For people who paid their Social Security for their working life of approximately 40 to 50 years and then die before age 65, what happens to this money?
Along with illegal aliens who pay while employed for many years then never file in order to collect Social Security benefits.
People never take into consideration all this money that gets paid into the system and never gets drawn on. Money paid into the system for all these years seems to just stay in the system.
Citizens who pay into the system pay about 15 percent before taxes, plus whatever amount your employer pays in as your share.
If you average about $30,000 during your lifetime as an average income, you will have paid in about $4,500 per year and your employer will have paid in about another 5 percent. That would be about $26,787 per year. This would give you about $2,976 per month income.
Compare this to Congressional incomes with 67 paid holidays per year, three weeks paid vacation, free health insurance and all the other great benefits they get as government employees.
Think about all the illegal aliens and others who have been using the same Social Security numbers for so many years. No one will ever collect on these accounts; this money will remain in dead accounts that will never be paid out.
There are so many scams regarding Social Security collections that they can”t keep up with the claims. Social Security claims, disability claims, death claims and old-age claims and IRS tax claims for refunds all made by convicts while in prison are enough to keep the scam departments of these agencies busy full-time.
People always complain about the misuse of Social Security funds.
When President Roosevelt set up the Social Security system, he never intended it to cover 20-year-old people on dope, alcoholics and people who complain of made-up diseases that they say keep them from working.
Political issues that allow all the bleeding-heart liberals to get money out of the system have caused the system to be almost bankrupt. It is a shame that most of our political system people have become criminals and only care about stealing money from the system or ways to enhance their own financial futures.
Our system is broken and we can”t fix it. It is time to get rid of all the incumbent politicians and elect new people. They can”t do any worse than current politicians who are acting as government employees.
Remember seniors, it appears we are the only people who really care about our country; we are the voting majority.
Let”s all vote these people out and try and get some people elected who will improve our country. My question is this: Is there still hope? I am not sure.
Fred A. Belka Jr.
Lakeport
