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OfflineSeussA
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Re: Why are americans doing the least? [Re: Therian]
    #14282230 - 04/13/11 04:16 AM (13 years, 1 month ago)

> SS was never meant to be a retirement fund. Anyone that believes it to be so, or would rely on it for one, most certainly is a retard of the highest order

I guess this retard wants to know what you call a pension fund, or old-age insurance (the term used in the law), if you do not consider it a retirement fund?


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Offlinezappaisgod
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Re: Why are americans doing the least? [Re: Seuss]
    #14282751 - 04/13/11 08:51 AM (13 years, 1 month ago)

SS wasn't meant to be a lot of things.  That doesn't mean it hasn't become them. 

I don't quite know what point Therian was trying to make with that lengthy nonsense about banks that have nothing to do with payday loans.  And banks pay for FDIC.  It is fully funded by the banks themselves.
How is the FDIC funded?

Quote:

The FDIC is fully industry-funded.  Member banks and thrift institutions pay premiums for deposit insurance coverage and from earnings on investments in U.S. Treasury securities.  Currently, the FDIC insures more than $6.4 trillion of deposits in U.S. banks and thrifts – deposits in virtually every bank and thrift in the country.




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InvisibleTherian
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Re: Why are americans doing the least? [Re: zappaisgod]
    #14283669 - 04/13/11 12:32 PM (13 years, 1 month ago)

Quote:

I guess this retard wants to know what you call a pension fund, or old-age insurance (the term used in the law), if you do not consider it a retirement fund?


  As I stated SS was never meant to be a retirement fund. It was initiated during the depression to assist the elderly that were living in poverty. It was a form of welfare that was then called "social insurance" meant to keep the elderly from falling below an established threshold, as I stated it was not intended to be ones sole source of retirement income, or even a retirement plan in general.

After its inception there were many, (up to 80%) in some areas that were ineligible to receive SS benefits. Most women and minorities were excluded from the benefits of unemployment insurance and old age pensions.

"Job categories that were not covered by the SS act included workers in agricultural labor, domestic service, government employees, and many teachers, nurses, hospital employees, librarians, and social workers.[13] The act also denied coverage to individuals who worked intermittently.[14] These jobs were dominated by women and minorities. For example, women made up 90% of domestic labor in 1940 and two-thirds of all employed black women were in domestic service.[15] Exclusions exempted nearly half of the working population.[14] Nearly two-thirds of all African Americans in the labor force, 70 to 80% in some areas in the South, and just over half of all women employed were not covered by Social Security.Most women and minorities were excluded from the benefits of unemployment insurance and old age pensions. Also, in many states children born out of wedlock we excluded from any benefits."

Quote:

I guess this retard wants to know what you call a pension fund, or old-age insurance




I'd hate to be the one to break this to you but SS is not a pension plan.
The difference between a pension and Social Security is quite radical, and while certain Social Security programs may resemble pensions, no part of Social Security is administered like a pension plan. Pensions are retirement benefits which are provided to people who have paid into a pension plan or who have been granted pension benefits by an employer. Social Security is a social insurance program in the United States which provides a wide number of services, one of which is taxpayer-funded benefits to the elderly. When people talk about “Social Security,” they are usually thinking of these benefits, and some people talk about a Social Security pension, further confusing the issue.

The Social Security Administration provides a variety of benefits to Americans with disabilities, retired Americans, and surviving spouses and children of people who have died. Social Security benefits include health benefits for certain Americans, unemployment benefits, temporary assistance in times of need, and monthly payments which are distributed to people such as retired seniors. These monthly payments lead many people to compare a pension and Social Security, but in fact Social Security is a form of insurance, not a pension.



So genius, riddle me this, how could it be considered a retirement plan when 50% of this countries citizenry were ineligible to collect benefits? What were they to retire on when they received NOTHING? Any retard can see you can't retire on benefits that you are not entitled to receive. What don't you understand?

This from a basic retirement planning service;
Will Social Security be enough to live on?
The purpose of Social Security was never to support someone completely during retirement. It was intended to supplement other income streams (pensions and annuities) as well as your retirement savings. So you should not expect Social Security to be enough to cover all of your living expenses in retirement. For most people, Social Security makes up about 40% of a retirees income.

I don't know if you've kept abreast of current events, but those on both sides are not proposing an increase in benefits, much less maintaining the status quo. Three things are going to happen, 1. The retirement age will have to be increased. 2.SS compensation will be decreased. 3. Contributions will have to be increased. You can be a first week student in financial planning 101 and realize that if you believe for a minute that SS can be your sole source of retirement income, you are a retard.

Quote:

I don't quite know what point Therian was trying to make with that lengthy nonsense about banks that have nothing to do with payday loans.  And banks pay for FDIC.  It is fully funded by the banks themselves.




Sorry, it comes with the territory as many of my attributes are "very lengthy". Although I don't know about the exact details of the posters dealing with the payday loan company. I was attempting to illuminate the fact that regardless of the financial institution, it has become blatantly clear that in the light of current events they are far from forthcoming concerning their fees, compliance with the law, and transparency in general.

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Offlinezappaisgod
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Re: Why are americans doing the least? [Re: Therian]
    #14283830 - 04/13/11 01:02 PM (13 years, 1 month ago)

1.  The "I guess this retard" quote was from Seuss, not me and he was referring to himself as "this retard".
2.  Soc Sec provides unemployment benefits? 
3.  The fact that it is an underfunded and a terrible investment does not diminish it's role as retirement income.  Many other pensions are in the exact same state.
4.  The benefits you receive upon retirement are based on what you have paid in and the year you retire.  What does that sound like to you?
5.  I can assure you I keep up.  I'm not the one babbling about what the intent was in 1942 when the average lifespan was the same as the age of eligibilty.
.....



6. Only an asshole signs for a loan without knowing what the fees and terms are.  Fuck them in their pieholes.


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InvisibleTherian
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Re: Why are americans doing the least? [Re: zappaisgod]
    #14284242 - 04/13/11 02:15 PM (13 years, 1 month ago)

.
Quote:

Only an asshole signs for a loan without knowing what the fees and terms are.  Fuck them in their pieholes




OK so this guy didn't do his "homework" concerning the rates and terms of the loan. Apparently  he did not exercise due diligence and fucked himself over due to his ignorance or lack of research. So therefore he deserves to be "fucked in the piehole?" OK I'll grant you that. Also by extension I will say all the greedy, lying bankers and loan officers that were none too happy to give loans to those with stated incomes, providing NINJA loans (no income, no job, no assets) without doing their financial "homework" also deserve to be "fucked in their pieholes".

It seems that by fucking the bankers in the piehole what actually happens is we bail them out so they can give billions in bonuses to those that were able to bring near financial ruination to their companies. Since this guys dad was equally financially inept, perhaps he can receive a bailout at my expense also.

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Offlinezappaisgod
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Re: Why are americans doing the least? [Re: Therian]
    #14284408 - 04/13/11 02:51 PM (13 years, 1 month ago)

Again.  The bankers have repaid their bailout loans, many of which were un-needed and usorious.  The difference between them and the idiots is THEY REPAID THE LOANS!  NOTHING THE BANKS GOT CAME AT YOUR EXPENSE!  WE MADE MONEY OFF THEM!  PROFIT! 

I got a little known fact for you as well.  Even without the profit we made from forcing banks to take the loans they also pay huge amounts of taxes.  HUGE!


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Invisiblelinkamathingy
Aspiring Mycologist


Registered: 10/27/10
Posts: 1,235
Re: Why are americans doing the least? [Re: zappaisgod]
    #14284518 - 04/13/11 03:13 PM (13 years, 1 month ago)

http://home.earthlink.net/~schiffeconomics/

This book is pretty good. Read! It's pretty short.


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SCIENCE!!!
If NIST didn't even investigate whether explosives were used, how can we trust their investigation? It's a rule whenever explosions are heard.
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don't be fooled, have a revolution on your own terms.

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Invisibleahchela
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Re: Why are americans doing the least? [Re: zappaisgod]
    #14285972 - 04/13/11 07:17 PM (13 years, 1 month ago)

Quote:

zappaisgod said:
Again.  The bankers have repaid their bailout loans, many of which were un-needed and usorious.  The difference between them and the idiots is THEY REPAID THE LOANS!  NOTHING THE BANKS GOT CAME AT YOUR EXPENSE!  WE MADE MONEY OFF THEM!  PROFIT! 

I got a little known fact for you as well.  Even without the profit we made from forcing banks to take the loans they also pay huge amounts of taxes.  HUGE!




Thats news to me, going to have to look into that.


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Offlinezappaisgod
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Re: Why are americans doing the least? [Re: ahchela]
    #14286026 - 04/13/11 07:24 PM (13 years, 1 month ago)

http://money.cnn.com/2011/02/02/news/economy/tarp/index.htm
Quote:

On Wednesday, Treasury announced that Fifth Third Bancorp of Cincinnati had fully repaid its outstanding $3.4 billion loan. That means banks have paid the government $243 billion of the original $245 billion in TARP loans.

Not every bank has repaid the government, but Treasury is making a mint off the interest. The department currently estimates that TARP bank loans will ultimately provide a lifetime profit of nearly $20 billion to taxpayers.




That was 2 months ago.


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Invisibleahchela
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Re: Why are americans doing the least? [Re: zappaisgod]
    #14286276 - 04/13/11 07:59 PM (13 years, 1 month ago)

So it looks like TARP did some good, I don't exactly trust banks or the government but if something turns out for the better - then its for the better. Theres too much fear mongering these days


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Psychedelics will not give you a lobotomy, but tv will.

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Invisiblezorbman
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Re: Why are americans doing the least? [Re: Greenvalley]
    #14287859 - 04/14/11 12:45 AM (13 years, 1 month ago)

Because the economy hasn't completely crashed yet.

Because it hasn't been allowed to.

Soon the markets will do what the federal government has failed to do.


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“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”  -- Rudiger Dornbusch

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InvisibleTherian
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Re: Why are americans doing the least? [Re: zorbman]
    #14288188 - 04/14/11 02:05 AM (13 years, 1 month ago)

Quote:

Soc Sec provides unemployment benefits?




Unemployment insurance was initiated on a national basis in the United States as Title III and Title IX of the Social Security Act of 1935. It is a Federal-State coordinated program. Each State administers its own program within national guidelines promulgated under Federal law.

Quote:

Again.  The bankers have repaid their bailout loans, many of which were un-needed and usorious.  The difference between them and the idiots is THEY REPAID THE LOANS!  NOTHING THE BANKS GOT CAME AT YOUR EXPENSE!  WE MADE MONEY OFF THEM!  PROFIT!


 

You're wrong. Some of the banks have paid off their loans. Mainly the larger ones. Some have outright failed, taking the taxpayers money with them. Others have not made timely repayment on the tarp funds, thus creating the term "deadbeat bank".

Quote:

So it looks like TARP did some good, I don't exactly trust banks or the government but if something turns out for the better - then its for the better. Theres too much fear mongering these days



Hell no. Taking the tarp program in it's totality by the gov.s own estimation we will be losing about 50 BILLION dollars. This is far more than the proposed budget cuts on the table. I don't know about you but a 50 billion loss isn't much of an investment for the american taxpayer.



"As the economy heals, we're continuing to see private capital step up and replace public support in the financial sector, which has dramatically lowered the cost of TARP for taxpayers," Tim Massad, acting assistant secretary for financial stability, said in a statement.

But that's just the loans made to banks. Taxpayers are still holding the bag on bailouts for the auto industry and AIG through TARP.

When you factor those loans in, along with the cost of a foreclosure prevention program, taxpayers have only recouped $274 billion out of a total $410 billion. Treasury isn't expecting to make all that money back. It recently estimated a final cost to taxpayers of $48 billion for the entire program.

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Offlinejoey711
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Re: Why are americans doing the least? [Re: gerryjarcia]
    #14288273 - 04/14/11 02:34 AM (13 years, 1 month ago)

Quote:

gerryjarcia said:
i think a lot of it has to do with nature of what it means to be "an american". It's a young country made up of immigrants in an economic system that operates on the basic premise of "greed is good, greed is god".

the U.S. has always been a divided nation and in reality the U.S. is made up of 50 little countries that we like to make believe are "united states". Americans have truly only been "united" when fighting against a common "enemy". First it was the Brits, then the Native Americans, then the Mexicans, then each other, then the world, then the world again, then, well, you get the point.

We have no real common culture to speak of (unless you see being fat and lazy as a common culture). We've barely any shared history as most of us immigrated here less than a hundred years ago.



this is great bro youve got a good head! i couldnt of said it better myself


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Offlinezappaisgod
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Re: Why are americans doing the least? [Re: Therian]
    #14290011 - 04/14/11 01:11 PM (13 years, 1 month ago)

Quote:

zappaisgod said:
http://money.cnn.com/2011/02/02/news/economy/tarp/index.htm
Quote:

On Wednesday, Treasury announced that Fifth Third Bancorp of Cincinnati had fully repaid its outstanding $3.4 billion loan. That means banks have paid the government $243 billion of the original $245 billion in TARP loans.

Not every bank has repaid the government, but Treasury is making a mint off the interest. The department currently estimates that TARP bank loans will ultimately provide a lifetime profit of nearly $20 billion to taxpayers.




That was 2 months ago.




The banks have repaid, Therian.  Not all of them, of course, but we have been made whole by the banking industry and then some.  AIG is on track to do the same.  If the auto companies, who were supposedly precluded from getting TARP funds, ever pay the money back I will eat a Chevy Volt.


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Invisiblelinkamathingy
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Re: Why are americans doing the least? [Re: zappaisgod]
    #14293992 - 04/15/11 02:29 AM (13 years, 1 month ago)

i've heard americans share no common heritage, being a country with very little sense of community and having been made of immigrants(attempted genocide of original inhabitant

when there is a human face on the despair, maybe then they'll take to the streets. It pisses me off that a large majority of  the jobs have been legislated and shipped away by the corporatocracy that pillaged the world with the dollar through the IMF... yakity yak. talk back and get assassinated because that's allowed in america by the obama administration, which is only a continuation of the bush admin.

edit: somebody beat me to this suggestion. lol

Edited by linkamathingy (04/15/11 02:31 AM)

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OfflineGreenvalley
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Re: Why are americans doing the least? [Re: linkamathingy] * 1
    #14294008 - 04/15/11 02:39 AM (13 years, 1 month ago)

Ive come to the conclusion that politics are not the solution and I dont like talking about 'politics'(whatever that really is), nuf said, thanks for all your input guys

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Invisiblejohnm214
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Re: Why are americans doing the least? [Re: linkamathingy]
    #14294044 - 04/15/11 03:16 AM (13 years, 1 month ago)

Quote:

linkamathingy said:
i've heard americans share no common heritage, being a country with very little sense of community and having been made of immigrants(attempted genocide of original inhabitant

when there is a human face on the despair, maybe then they'll take to the streets. It pisses me off that a large majority of  the jobs have been legislated and shipped away by the corporatocracy that pillaged the world with the dollar through the IMF... yakity yak. talk back and get assassinated because that's allowed in america by the obama administration, which is only a continuation of the bush admin.

edit: somebody beat me to this suggestion. lol





right on dude, you tell those fatcats, I deserve so much more than life has delivered to me.  I'm special, damnit, and its those bastards who are to blame!

:gameover:

You've been asked to support your conclusions before, I'm asking again.

To declare these things is  not at all helpful because there is no reason anyone should believe you.  What is helpful, and expected, is to provide some justification for your conclusions so their veracity can be ascertained.

Your post seems to reveal you to be either a) making up things, or b) ignorant. i.e. what grounds do you to say that people who "yakity yak. talk back" may allowably be assasinated in the US and per the Obama administration?  To say things like this pretty clearly identifies your other claims as suspect.

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Invisiblelinkamathingy
Aspiring Mycologist


Registered: 10/27/10
Posts: 1,235
Re: Why are americans doing the least? [Re: johnm214]
    #14294049 - 04/15/11 03:20 AM (13 years, 1 month ago)

for serial, i dont expect everyone to back up everything they say with a link or a logical argument right afterward. this is the internet, take what you read and research it.

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Invisiblejohnm214
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Re: Why are americans doing the least? [Re: linkamathingy]
    #14294063 - 04/15/11 03:39 AM (13 years, 1 month ago)

I asked for your justification not because I thought you had some, which I don't, but because I think your claims are ridiculous and that you've been pegged previously as someone who posts unsupportable nonsense- something it seems you continue to do (such as: its legal in the US to kill people for criticizing the government, obama authorizes such).


How arrogant can one be?  Not only do you presume that I'm not knowledgable of the subjects in question, but you conclude the only reason I could doubt your ravings is because of this ignorance, and therefore instruct me to 'research' claims that you either made up or are grossly misinformed on.


Your expectations are irrelevant.  If you make factual claims that are challenged, then back them up.  If you make conclusions that aren't clear or are challenged, provide the argument in support.  If you don't want to do that, then the magic/fairy forum might be more your style.

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Invisiblelinkamathingy
Aspiring Mycologist


Registered: 10/27/10
Posts: 1,235
Re: Why are americans doing the least? [Re: johnm214]
    #14294088 - 04/15/11 03:57 AM (13 years, 1 month ago)

it's expecting too much of someone on the internet to lead you to why they came to a conclusion. if my vagueness angers you, i'll stop. i don't post unsupportable nonsense. i am not wasting my time on changing people's views through text. fucking trolls. once again i am trolled into leaving the non-productive section of these forums

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