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King - Re; Social Security
Posted By: Capt D In Response To: Re: King - Re: BP (King)
Date: Friday, 7-30-10, at 7:35 p.m.
True, most people make out OK. Problems arise if you're a vet, and retired from the fed. govt.
Here's one called "Catch 22". During Vietnam, part of pitch for joinin up was that the govt would pay your share into Social Security. Years after the war, Congress changed their minds, and told us if we were still alive we had to give it back. Gave us a choice to pay up amount = to what they paid in for us or have the amount + a penalty deducted from monthly pension - forever. We could pay it lump sum or in installments (With Interest!!!!!!). Btw, few of us had the $$ to pay the lump sum.
And another. Pitch to join military was that if you joined military, and paid into Social Security, you would retire w/ federal pension + Social Security. About 20 years ago Congress severly reduced the Social Security that would be paid if you were a vet. Said it was double dipping. And...., they made it retroactive!!!!!!!
And another, after what they did as described above... they further reduced any Social Security benefits left by applying a formula that they called a "Government Offset."
This should give you and idea of how $1000 a month in benefits can be reduced to $84 a month.
Bottom line is don't ever trust promises from the fed gov at time of war. They use you then later toss you out w/ the trash!!
Tho couple of times congressman have tried to correct these injustices the bills just wither and die. Voting block of vets is just to small to cater to. And every year, that block gets smaller as the vets die off. Justice will never be served.
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