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People over 65 get free money from the government
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I would humbly point out that like all taxpayers, I have been paying 6.2% of my earnings into this program for years, so that I will get "free money" in the future. Assuming they do not run out of money, which, at present rates, they will in a few years. Most expensive "free" thing I have had lately.
Social Security pays for the elderly , the retired , or handicap. The money is received from everyone paying taxes. It can be extremely helpful if one gets into an accident or if a spouse has deceased.
Wiki User
∙ 11y ago
Wiki User
∙ 14y agoSocial security provides retirees with a source of income. It is common in American society that the elderly stop working at some point, and Social Security makes it possible for them to live in society without additional help from their families.
Wiki User
∙ 7y agoThis money isn't "free". It is an actual insurance policy that you have paid into when you begin working.
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Are social security benefits taxable in Massachusetts?
no
What is fica tax on your paycheck?
It is a federal tax to support the Social Security old age and survivors benefits and the Social Security Disability Income benefits.
What does FICA tax go for?
Your social security and medicare benefits
What does FICA deduction consists of?
The FICA deduction [since 1990] is 6.2% for employees and 6.2% for employers and is the principal funding source for Social Security benefits.
If you income is your social security benefits do you have to file an income tax form?
yes, you will not pay any taxes.
The best way to get social security benefits is to hire a social security attorney. ?
The best way to get social security benefits is to hire a social security attorney.
Need to find a copy of my social security benefits for 2014?
Go to your social security department and ask about your benefits for 2014 . The Social Security Statement provides information about your earnings history and estimates of your Social Security benefits.
What are the social security benefits in Wyoming?
Social Security benefits are the same no matter what state you live in. Social Security retirement benefits are based on your earnings record or "credits" and your age.
Are the words social security on a social security benefits check?
no
How can I replace my social security benefits worksheet?
Someday I will grow old and be unable to work any longer. I would like to know the projected benefits I will receive from Social Security. Where online can I get a copy of the Social Security Benefits Worksheet?
How is your monetary compensation affected if you can retire at 60 but do not want your social security benefits until 66?
You can retire whenever you want to without collecting social security benefits. The longer you wait before signing up for social security, the higher your benefits will be. You can go to the social security site and calculate what your benefits will be. You can retire whenever you want to without collecting social security benefits. The longer you wait before signing up for social security, the higher your benefits will be. You can go to the social security site and calculate what your benefits will be.
What is the portability of social security benefits?
The portability of social security benefits is in regards to the ability of workers to maintain social security rights while in the midst of changes. To learn more, Wikipedia has all the information about the portability of social security benefits.
What does John McCain believe about Social Security benefits?
How does John McCain believe about Social Security benefits?
Can a child with diabetes receive social security benefits?
Can a child with diabetes receive social security benefits
Are unemployment benefits effected by Social Security benefits in Arkansas or Iowa?
No. Neither state offsets unemployment benefits by the Social Security benefits.
Are Social Security benefits attachable?
In general, Social Security benefits are protected from being garnished or attached by creditors. However, there are some exceptions, such as for outstanding federal debts, child support, and alimony. State laws may vary on the extent to which Social Security benefits can be garnished.
Which state has the best social security benefits?
Social Security is a federal program and the benefits are the same in every state.
