A conversation ensued:
Me: Not insurance.
My friend: true it should read as assurance of income
Donna: then why is it called ssi, social security insurance?
Me: Supplemental Security Income.
Donna: wrong insurance, supplemental is for anyone with less than 2000 dollars in assets that cannot work. Look at the original definitions, in the 80's they decided to tax social security and had to undesignate it as insurance since insurance is non taxable. Social security has and will always be an insurance program that workers pay into. Just because politicians want to manipulate the system, means we the people need to do our homework and learn the truth
Me: sorry, not insurance. No aspects of indemnity. Not based on actuarial calculations. No transfer of risk. Not priced according to potential for loss. No peril identified. No mutually agreed contract. In short, there isn't a single thing in ssi that makes it insurance. None.
Donna: blah blah blah big words for nothing.
Me: I said twice SSI isn't insurance. Then I explained. You have no idea what insurance is, but you want to argue anyway. That makes you an idiot.
Donna: your old enough to remember and choose to ignore the facts. When social security was non taxable pre 1984 it was considered insurance. Maybe not by your dictionary definition of insurance, but considered insurance none the less. Ignoring facts based on the first 40 years that social security is an insurance only to be changed so that it could be taxed makes you the idiot.
Donna: yep. Just did my homework, social security is a social insurance, not a pension. You should do your homework before calling someone an idiot. Your ignorance and inability to know the facts on which you base an OPINION is astounding. The only question I have is how have you actually made it through life NOT knowing what you are talking about?
Me: I'm going to give you one last chance. I have been an insurance agent for 40 years, so I know what insurance is. SSI is not insurance. End of story. It possesses no attributes of insurance. It's not calculated like insurance. It's not paid like insurance. In fact, it violates insurance principles.
Me: Not insurance.
My friend: true it should read as assurance of income
Donna: then why is it called ssi, social security insurance?
Me: Supplemental Security Income.
Donna: wrong insurance, supplemental is for anyone with less than 2000 dollars in assets that cannot work. Look at the original definitions, in the 80's they decided to tax social security and had to undesignate it as insurance since insurance is non taxable. Social security has and will always be an insurance program that workers pay into. Just because politicians want to manipulate the system, means we the people need to do our homework and learn the truth
Me: sorry, not insurance. No aspects of indemnity. Not based on actuarial calculations. No transfer of risk. Not priced according to potential for loss. No peril identified. No mutually agreed contract. In short, there isn't a single thing in ssi that makes it insurance. None.
Donna: blah blah blah big words for nothing.
Me: I said twice SSI isn't insurance. Then I explained. You have no idea what insurance is, but you want to argue anyway. That makes you an idiot.
Donna: your old enough to remember and choose to ignore the facts. When social security was non taxable pre 1984 it was considered insurance. Maybe not by your dictionary definition of insurance, but considered insurance none the less. Ignoring facts based on the first 40 years that social security is an insurance only to be changed so that it could be taxed makes you the idiot.
Donna: yep. Just did my homework, social security is a social insurance, not a pension. You should do your homework before calling someone an idiot. Your ignorance and inability to know the facts on which you base an OPINION is astounding. The only question I have is how have you actually made it through life NOT knowing what you are talking about?
Me: I'm going to give you one last chance. I have been an insurance agent for 40 years, so I know what insurance is. SSI is not insurance. End of story. It possesses no attributes of insurance. It's not calculated like insurance. It's not paid like insurance. In fact, it violates insurance principles.
I don't care what people call it. I don't care what the title of the legislation is. I don't care what senators call it. I don't care what you think it is.
It is not insurance, it is a tax on workers used to fund retirees and others. It is a method of transferring wealth via assessing peoples' paychecks so that people who no longer work get a benefit. There is no right to receive benefits, there is no guarantee, and there is zero money in the Social Security Trust Fund. It's simply a government taxation program. Period.
That fact that you so easily accept the propaganda about the program tells me all I need to know. The government relies on people just like you to keep the scam going. And it is a scam.
Donna: and once again all you say is blah blah blah blah
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