NY Times: The Real Reason the U.S. Has Employer-Sponsored Health Insurance

Nov 2012
5,758
3,490
Kekistan
#11
And how many years did Clara and hubby pay into the system ?? I've been paying in since I was just 13 years old. In a few years it'll be my turn to be on the receiving end of the equation.
Unless some elected body changes their mind and the rules. Then you can wait awhile longer, maybe not even get it. Its a rigged system. No person should be forced to pay for a service that they do not receive or have no guarantee they will receive.
 
Likes: 1 person
Apr 2013
36,606
24,876
La La Land North
#12
And you think the govt scrupulously saved all your money for years to pay your benefits now?
No, a series of lying Republican Presidents lowered taxes for their rich friends, spent money they didn't have on unneeded military to make more of their rich friends richer and pissed away the money they should have been saving that people had paid.

It's the Republicans that are the theifs.
 
Likes: 1 person
Dec 2013
33,070
19,171
Beware of watermelons
#13
No, a series of lying Republican Presidents lowered taxes for their rich friends, spent money they didn't have on unneeded military to make more of their rich friends richer and pissed away the money they should have been saving that people had paid.

It's the Republicans that are the theifs.
Partisan crap from an international source attempting to influence American politics. Call the DOJ
 
Likes: 1 person
Nov 2012
5,758
3,490
Kekistan
#15
NO....the reason we only pay $134 is because WE paid into the system for 40-50 years.

The GOP keeps calling SSecurity and Medicare "entitlements", which is a word that implies special privileges and treatment. NOT SO.
We the people all pay 1.45% of our earnings into FICA - Federal Insurance Contributions Act - which goes toward Medicare. Employers pay another 1.45%, bringing the total to 2.9%.

I started working when I was 16 yrs old--actually before that--but that's when I started paying into the system. NO ONE IS subsidizing me. We chose the co-pay plan because we could afford to and were willing to co-pay.
I am sorry but you are being subsidized. I am subsidizing you for a few more years and all those who are working and not drawing those benefits are. Its a ponzi scheme. Its not going to go away, the only logical way to stop it is to give the benefits to everyone who pays for it at all age groups.
 
Dec 2013
33,070
19,171
Beware of watermelons
#16
I am sorry but you are being subsidized. I am subsidizing you for a few more years and all those who are working and not drawing those benefits are. Its a ponzi scheme. Its not going to go away, the only logical way to stop it is to give the benefits to everyone who pays for it at all age groups.
And make it optional
 
Nov 2012
40,413
11,668
Lebanon, TN
#17
https://www.nytimes.com/2017/09/05/...-has-employer-sponsored-health-insurance.html

Basically this idea of employers providing their employees with health insurance originated because of a government-imposed wage freeze, essentially government intervention into the economy. It's something employers offered employees as a way around the freeze.

We would not have the problems we have today with health insurance, astronomically huge expenses for health coverage, and government intervention with all the patchwork of laws to preserve the health insurance industry. This is why the state should serve as nothing more than a referee and be kept out of the economy where it can interfere with it and screw it up in the long run.

The premise behind the government freeze was that inflation would "spiral out of control" (because of the circumstances at the time). Keep in mind that inflation can occur because we have a private central bank that can create money out of nothing whenever it issues loans and money is deposited into account (which originated from those very same kind of loans).

Lessons we can learn from this:

1. Government intervention into the economy is a bad idea.

2. Having a private central bank is a bad idea.

First company to provide employer insurance was Grumman Aircraft during WW2 at the factory that produced the HELLCAT.
 
Nov 2012
5,758
3,490
Kekistan
#18
Did I say that?? Why don't you enlighten us--tell us how it works??
We'll wait.
I will be glad to. What you paid in was paying for those already drawing. What you are drawing is being paid for by those of us still working. Each generation depends on the generation behind them to pay for their current benefits. That is why your price is subsidized by those of us not using those benefits but paying for yours. The problem is the baby boomers are going to suck those resources dry and the generations after them will not get back what they paid in. It is a ponzi scheme
 
Likes: 1 person
Dec 2015
15,440
14,324
Arizona
#19
I am sorry but you are being subsidized. I am subsidizing you for a few more years and all those who are working and not drawing those benefits are. Its a ponzi scheme. Its not going to go away, the only logical way to stop it is to give the benefits to everyone who pays for it at all age groups.


Let's talk about Ponzi schemes. What makes a Ponzi scheme is that it’s a giant fraud. In Social Security, conversely, it’s perfectly clear what is going on. Every year, Social Security’s actuaries release an insanely detailed report on the system’s finances, its balance of payments, the potential problems it could face, and so on.
In a Ponzi scheme, the finances are a secret, and that’s central to the enterprise. In Social Security, they are, as a matter of law, public.

Social Security, by contrast, has its own dedicated funding source. It is currently running surpluses, though it won’t be doing so for very much longer. Those surpluses are invested in U.S. Treasuries, which are widely considered the world’s safest investment.

Ponzi schemes are built on pyramids. SS is not. Quite the opposite, actually. Its current funding shortfall is a product of the baby boomers retiring and birth rates declining. Tweaking the payroll tax cap will take care of the shortfall.
Ponzi schemes are short-lived. SS has been running successfully since 1935.

Now....back to the question of "subsidized" payments and get some things straight. Facts: SS is and always has been, an inter-generational transfer of wealth. The taxes paid by today’s workers and their employers don’t go into dedicated individual accounts. Nor do Social Security checks represent a return on invested capital. The benefits received are funded by the taxes paid by today’s workers; when those workers retire, their benefits will be paid for by the next generation of workers’ taxes.

Some people characterize that as the government “borrowing from” or “raiding” Social Security, but the system is in essentially the same position as any other investor who buys Treasuries.
 
Last edited:
Likes: 1 person
Nov 2012
5,758
3,490
Kekistan
#20
Let's talk about Ponzi schemes. What makes a Ponzi scheme is that it’s a giant fraud. In Social Security, conversely, it’s perfectly clear what is going on. Every year, Social Security’s actuaries release an insanely detailed report on the system’s finances, its balance of payments, the potential problems it could face, and so on.
In a Ponzi scheme, the finances are a secret, and that’s central to the enterprise. In Social Security, they are, as a matter of law, public.

Social Security, by contrast, has its own dedicated funding source. It is currently running surpluses, though it won’t be doing so for very much longer. Those surpluses are invested in U.S. Treasuries, which are widely considered the world’s safest investment.

Ponzi schemes are built on pyramids. SS is not. Quite the opposite, actually. Its current funding shortfall is a product of the baby boomers retiring and birth rates declining. Tweaking the payroll tax cap will take care of the shortfall.
Ponzi schemes are short-lived. SS has been running successfully since 1935.

Now....back to the question of "subsidized" payments and get some things straight. Facts: SS is and always has been, an inter-generational transfer of wealth. The taxes paid by today’s workers and their employers don’t go into dedicated individual accounts. Nor do Social Security checks represent a return on invested capital. The benefits received are funded by the taxes paid by today’s workers; when those workers retire, their benefits will be paid for by the next generation of workers’ taxes.

Some people characterize that as the government “borrowing from” or “raiding” Social Security, but the system is in essentially the same position as any other investor who buys Treasuries.
With the exception that you are forced into the system against your will or people with guns will come and take you away to jail.

You absolutely described a pyramid. A ponzi scheme is where people are paid from investments from other participants without any profit. Social security is absolutely a ponzi scheme. Rather or not it can be successful for the next few decades is a different matter. I suspect that the millennial's better be ready to wait until they are past the age of 70 to be allowed to draw anything.
 
Likes: 1 person

Similar Discussions