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Author: goofnoff Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1961714  
Subject: It's not rocket science Date: 10/1/2012 3:09 PM
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The right wing, as represented by PA righties, wants to end SSI, Medicare and Medicaid, Food Stamps , and any other programs for the poor, and most public education The real tinfoil hatters of the Paul brigade ould cut most defense, also. We don't get amny of the social agenda righties on PA but they are out there.

All the fury against Obama by the PA righties is driven by their hatred for the above programs. Any PA rightie is free to say he supports any of the programs above.
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Author: PeterRabit Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1819900 of 1961714
Subject: Re: It's not rocket science Date: 10/1/2012 3:54 PM
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goof hatred for the above programs.

Interesting. So what they hate about Obama is not any new "socialistic" programs that he has implemnted (ACA is just bureaucracy) but the fact that he stands in the way of dismantling all the old programs.

Peter

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Author: goofnoff Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1819903 of 1961714
Subject: Re: It's not rocket science Date: 10/1/2012 4:03 PM
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Interesting. So what they hate about Obama is not any new "socialistic" programs that he has implemnted (ACA is just bureaucracy) but the fact that he stands in the way of dismantling all the old programs

That is true of the establishment Republicans and the tinfoil hat Paul crowd. We get most establishment Repubs in here. teh Vangie crowd is another matter. Many of them are dependent on food stamps and SSI. They just don't realize the Republicans will end these programs and leave many of them homeless.

It is a weird world.

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Author: Jeanwa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1819905 of 1961714
Subject: Re: It's not rocket science Date: 10/1/2012 4:08 PM
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SSI

I think you mean SS, SSI is another program

http://www.ssa.gov/pgm/ssi.htm

The Supplemental Security Income (SSI) program pays benefits to disabled adults and children who have limited income and resources.

Maybe not.... There might be a portion that do qualify for SSI.

SSI benefits also are payable to people 65 and older without disabilities who meet the financial limits.

It's a common mistake because of Social Security Insurance.


Jean..........nitpicker.

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Author: goofnoff Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1819911 of 1961714
Subject: Re: It's not rocket science Date: 10/1/2012 4:27 PM
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Sorry Jeanwa it is both SS and SSI. And it is not nitpicking.

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Author: jerryab Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1819960 of 1961714
Subject: Re: It's not rocket science Date: 10/1/2012 8:43 PM
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The Supplemental Security Income (SSI) program pays benefits to disabled adults and children who have limited income and resources.

There are three basic groups:

SS--Social Security. This is an earned benefit. It is funded via a tax on workers and employers.

SSDI--Social Security Disability Insurance. This is for people who become certified as disabled. They are immediately put on full SS. It is funded by insurance premiums paid by workers and employers.

SSI--Supplemental Security Income. This is *welfare*. It is appropriated by Congress but does not have an income source other than general tax revenue received by the federal govt. Congress can choose to reduce this to zero at any time and end the expense. There will be significant consequences if the politicians make that choice.

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Author: Jeanwa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1819992 of 1961714
Subject: Re: It's not rocket science Date: 10/1/2012 11:22 PM
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SS--Social Security. This is an earned benefit. It is funded via a tax on workers and employers.

SSDI--Social Security Disability Insurance. This is for people who become certified as disabled. They are immediately put on full SS. It is funded by insurance premiums paid by workers and employers.

==================================

Are you saying SSDI and SS are different funding sources?

Both are funded through the Social Security tax.

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Author: jerryab Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1820138 of 1961714
Subject: Re: It's not rocket science Date: 10/2/2012 12:33 PM
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Are you saying SSDI and SS are different funding sources?

Both are funded through the Social Security tax.


They are two taxes combined into a single premium totaling 15+% of total earned income up to about $110k. Half paid by employers, half by employees. Your car insurance is a single premium amount--but covers multiple possible losses/exposures (theft, vandalism, accident, damage to property, hail damage, medical expenses, etc).

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Author: Jeanwa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1820142 of 1961714
Subject: Re: It's not rocket science Date: 10/2/2012 12:41 PM
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They are two taxes combined into a single premium totaling 15+% of total earned income up to about $110k.

------------------------------------------


You might want to recheck the rate, 10.4% isn't really close to 15+%.

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Author: jerryab Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1820162 of 1961714
Subject: Re: It's not rocket science Date: 10/2/2012 1:23 PM
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You might want to recheck the rate, 10.4% isn't really close to 15+%.

6.20% employee (temporarily reduced to 4.2%).
6.20% employer.
1.45% employee for Medicare.
1.45% employer for Medicare.
------
15.30% total FICA (Medicare and SS)

http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/240/~/20...

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Author: Jeanwa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1820165 of 1961714
Subject: Re: It's not rocket science Date: 10/2/2012 1:38 PM
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Oh, I didn't know you were combining SS and medicare, you changed the subject.

Like I said 6.2 + 4.2 = 10.4

BTW, Medicare has no income limit.

Oh, Wait....

Me: Are you saying SSDI and SS are different funding sources?

Both are funded through the Social Security tax.

You: They are two taxes combined into a single premium totaling 15+% of total earned income up to about $110k. Half paid by employers, half by employees. Your car insurance is a single premium amount--but covers multiple possible losses/exposures (theft, vandalism, accident, damage to property, hail damage, medical expenses, etc).
---------------

Are you saying SSDI is funded through medicare. I don't think so. It's SS payments for people prior to the age limit. Medicare is in addition to the SSDI payment.

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Author: Jeanwa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1820166 of 1961714
Subject: Re: It's not rocket science Date: 10/2/2012 1:40 PM
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It's SS payments for people prior to the age limit.

Should read: It's SS payments for people disabled before reaching the age for drawing SS.

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Author: jerryab Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1820509 of 1961714
Subject: Re: It's not rocket science Date: 10/3/2012 11:58 AM
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It's SS payments for people prior to the age limit.

Should read: It's SS payments for people disabled before reaching the age for drawing SS.


Medicare and SS and SSDI and SSI are all different programs.

SSI has no dedicated funding source and is not an entitlement.

SSDI has a dedicated funding source and is an insurance system--no different than car or house insurance.

SS has a dedicated funding source and is a wealth transfer system. It is far cheaper for each worker than trying to keep the workers's elderly parents living with the family OR on their (elderly parents) own.

Medicare has a dedicated funding source and functions to reduce the cost of healthcare to the elderly who would not be able to otherwise afford it. SP/UHC would be a better alternative.

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Author: Jeanwa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1820528 of 1961714
Subject: Re: It's not rocket science Date: 10/3/2012 12:23 PM
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SSDI has a dedicated funding source and is an insurance system--no different than car or house insurance.

SS has a dedicated funding source and is a wealth transfer system. It is far cheaper for each worker than trying to keep the workers's elderly parents living with the family OR on their (elderly parents) own.
========================================

SSDI and SS are the same funding source. Both come from SS tax.

I think we agree that SS tax is 6.2 for the employer and 4.2 for the employee, currently.

Where do you think the SSDI funding is...what tax is it?

I'm pretty sure it's inside the SS tax.

Jean

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Author: jerryab Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1820558 of 1961714
Subject: Re: It's not rocket science Date: 10/3/2012 1:01 PM
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Where do you think the SSDI funding is...what tax is it?

I'm pretty sure it's inside the SS tax.


http://en.wikipedia.org/wiki/Social_Security_Disability_Insu...

it is part of SS as part of the tax is set aside to cover these cases (same as a single car insurance premium covers multiple possible losses to a car--accident, hail damage, vandalism, etc).

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