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Sun 6 Oct, 2013 06:04 am
I just signed up to receive benefits, and of course I understand that you are not actually entitled until you have been at that age for 'one month'. But I was livid once I found out how they have managed to milk billions of dollars out of recipients by making them wait THREE WEEKS for their money AFTER their checks are actually due them.
Let me give an example (with hypothetical numbers) to show how they do it:
Let's say 3 million recipients receive $1200 a month, that = $3,600,000,000 a month. And let's say there is a CD interest rate of 3% annual. We divide that by 52 weeks, then multiply that by the 3 weeks they hold your money = $6,230,769 in interest EVERY 3 weeks that the government rips off from recipients in interest that is theirs.
Yes, over 6 million dollars (just using these numbers) every 3 weeks that they can use to pay bonuses to government workers, take trips, pay for the GSA or IRS to have training groups in Hawaii, etc..
Think the 3 weeks they make you wait amounts to nothing? Think again. They pinch you just enough so you won't squeal, so that they can make a lot of money.
@kerk,
kerk wrote:
Think the 3 weeks they make you wait amounts to nothing? Think again. They pinch you just enough so you won't squeal, so that they can make a lot of money.
NOW you're complaining that they don't pay out
enough in benefits...
@kerk,
Quote: But I was livid once I found out how they have managed to milk billions of dollars out of recipients by making them wait THREE WEEKS for their money AFTER their checks are actually due them.
I'm unclear what you mean here. Are you saying you don't get the check on the date the check is due or are you saying the date the check is due is wrong?
@kerk,
A CD rate of 3%, where in Canada or Mexico? Come back to Earth, Junior.
@Miller,
Do you know what really bums me out? I'll tell you. If I die on the last day of the month I'll get zilch while people who croak one day later get an extra month's benefits. They could check out at 12:01 on the 1st but if I go at 11:59 on the 31st... two minutes earlier, I'm out of of luck. And if the month had only 30 days instead of 31....
Life ain't fair.
@realjohnboy,
The one who croaks on the 1st loses his check for that month also. Whats your point?
@realjohnboy,
Yeah, and there you are dead and everything, and on top of that you don't get to spend that money while you're sitting around dead.
It ain't fair I tell ya, it just ain't fair.
@realjohnboy,
Just get a relative to keep you in the freezer for a while. That way you can keep collecting checks.
@kerk,
It looks so simple that how easily they make money by doing nothing apart from holding us for some weeks. We don't loose but they gain a lot from it that is a huge sum of money just from interest. God people have to do something.
@realjohnboy,
Quote: If I die on the last day of the month I'll get zilch
Whatever day you die you will get zilch - do you really think you can use money when you die (not to mention get access to it?)
@chai2,
Great minds think alike Linkie.
chai2 wrote:
Yeah, and there you are dead and everything, and on top of that you don't get to spend that money while you're sitting around dead.
It ain't fair I tell ya, it just ain't fair.
@chai2,
yep saw yours and (a couple of others) afterwards.
I just had to laugh
@Linkat,
It does kind of suck for your survivors though. They don't get your last check.
@chai2,
well he is only worried about him not getting his last check. Now if you were to die and you did get your last check, what would you spend it on?
@Linkat,
botox and maybe a tanning bed.
I mean, I wouldn't have to worry about skin cancer anymore.
@Linkat,
You may not get anything, but your heirs could get the money. By the way, what "money" are we talking about? Pension, SS or what?
@Linkat,
Linkat wrote:
well he is only worried about him not getting his last check. Now if you were to die and you did get your last check, what would you spend it on?
Why not cash the check and then give it to all the hard working nurses and docs who've taken care of you , during your illness?