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Ida May Fuller And Social Security

Written by | December 15th, 2008

In 1935, The Social Security program was signed into law, by Franklin Roosevelt.

Ida May Fuller was the first ever recipient of Social Security.

Before retiring, and after paying only three years of payroll taxes, a total of $24.75 towards the program; by the time Ida passed away, in 1975, she had collected a total of $22,888.92 in Social Security benefits.

Not bad, huh? Can someone please tell me where I can make 1000% interest on my investments?

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5 thoughts on “Ida May Fuller And Social Security

  1. KEB

    … and so began the money pit we now know as Social Security … more like Social Insecurity if you ask me. Even with all the problems in the market, I would still prefer to have my SS Taxes invested in the market instead of being given away to those who failed to plan for their future.

    Reply
  2. markross Post author

    Yes sir!

    I agree with you.

    Social Insecurity, that is funny! :)

    Social Security was likely a big governmental blunder the day it was enacted; however it did "perhaps" give the government tax payer money, upfront, so that they could go and invest it into other interests…hmm

    There are certainly mitigating circumstances as to why some have retirement plans and why others don't, however, for a few years, I have been saying, "I don't want the government taking my money, and telling me what they think is best for my retirement". I would much rather they not take it, and let me go invest "my money" where I’d like.

    I was also for the privatization of Social Security, however, it is yet another over politicized policy that will likely not get resolved until the fund is at last bankrupt, and people are screaming bloody murder.

    This may sound a bit off the wall, however, I had considered writing to whomever, and asking if I could have my social security money now, so that I can invest it how I’d like.

    Tell me where to sign, I’ll do it gladly.

    I know that it won't get me two dead flies, in retirement, if it is even there, when and if I can retire.

    Reply
  3. markross Post author

    K,

    Ida was living proof that working tax payers do subsidize those who are no longer working.

    With that thought in mind, how can there be an even ratio between working taxpayers and retirees? The easy answer is, there can not be.

    With no disrespect to Ida, obviously, the program was a failure from the very first recipient.

    It still begs the question, what the h*ll were they (the government) thinking?

    Even with the knowledge that the funds will not sustain time, and is not enough to even retire with, the ratio of people (baby boomers) estimated to "attempt" to retire, will completely bankrupt the fund.

    This begs yet another question..

    Why the h*ll do they let it continue?

    And yet, one last question..

    Will the fund, or the governmental funding, go bankrupt?…hmm

    Reply
  4. Political Blogs

    I enjoyed your point of view… finally someone said the right thing! :) Would you mind terribly if I place a link back from my site at whiterabbitcult.com?

    Reply

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