Comment by Jim Campbell, Citizen Journalist and Patriot.

The headline above is true with the exception that it has been called such for many years.

How cool, the government uses the IRS to extort money out of us to put it into a Ponzi scheme and calls it a federal benefit. 

This could be a possible explanation for why Obama has so many Social Security cards and numbers.

Social Security is now called “Benefit”

Have you noticed, your Social Security check is now referred to as a “Federal Benefit Payment”?

The government is now referring to our Social Security checks as a “Federal Benefit Payment.”
This isn’t a benefit – its earned income!

Not only did we all contribute to Social Security but our employers did too.
It totaled 15% of our income before taxes. If you averaged $30Kper year over your working life, that’s close to $180,000 invested in Social Security.

Complete article below:

If you calculate the future value of your monthly investment in social security ($375/month, including both your and your employer’s contributions) at a meager 1%interest rate compounded monthly,
after 40 years of working you’d have more than $1.3+ million dollars saved! This is your personal investment.

Upon retirement, if you took out only 3% per year, you’d receive $39,318 per year, or $3,277 per month.
That’s almost three times more than today’s average Social Security benefit of $1,230 per month,
according to the Social Security Administration (Google it – it’s a fact).  And your retirement fund would last more than 33 years (until you’re 98 if you retire at age 65)!

I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.
Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They “forgot” that it was OUR money they were taking. They didn’t have a referendum to ask us if we wanted to lend the money to them. And they didn’t pay interest on the debt they assumed.

And recently, they’ve told us that the money won’t support us for very much longer. But is it our fault they misused our investments?

And now, to add insult to injury, they’re calling it a “benefit,” as if we never worked to earn every penny of it. Just because they “borrowed” the money, doesn’t mean that our investments were a charity!  Let’s take a stand.

We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government – Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it.

And call it what it is: Our Earned Retirement Income.

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  1. Everytime I hear about this I cringe…it is all I have! I don’t abuse medicare…and try to avoid unnecessary tests just to put more change in the doctor’s bank accts. and actually when I was working and wanted to figure out what my paycheck would read…I multiplied my income due by 18% and was rarely over $2. off! Yeah, I helped in accounting when needed….very capable of doing more than one thing…they really don’t want to get a bunch of cranky old people breathing down their necks…unlike the younger generation, we are vocal….we know who and what we are….

  2. They did this for one thing, when hussein says your SS check may go out because, he is right, now they can stop them anytime they want! “BASTARD” IT’S TO KEEP THE PEOPLE IN LINE, AND THE GOVERNMENT CAN DO WHAT EVER THEY WANT, AND THE HELL WITH ALL OF US!

  3. Social Security has been called a federal benefit payment since it was created in the 1930s. The term “federal benefits” applies to a large number of programs, including Social Security, Social Security Disability Insurance, Medicare, and others.

  4. This is Bull Crap. When they borrowed the money from SS they said they would put in an IOU so it would be returned.

    And we believed this, from our government, they are all lirers in congress and they are only lining their own pockets.


  5. From J.C. to Cherie,

    I will be happy to make the change. However I have found this in a number of sources. Thanks for taking the time to comment.

    (Before Obama Cuts) Currently Wage earners directly pay for FICA 7.65% of their wages. Employers also pay an equal FICA payment based upon their payrolls. Enterprises generally pass all of their expenses onto their customers. Employers’ 7.65% of their payrolls effectively behave similar to a federal sales tax.

    I’m J.C. and I run the circus.

    The data is flawed….FICA has never been 15%. It is currently 12.4% and has been so since 1990. It was lower in every decade before that.

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