14 lies about money that Americans can’t seem to shake

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'Social Security is going bankrupt' and other lies about money Americans believe: (OPINION via QuinnsComments)

It’s well known that we tend to believe what we want or what fits our preconceived notions. But this is getting out of control. Here’s what drives me nuts on the misinformation superhighway:

The real problem with health insurance is that it isn’t insurance at all. We expect our health insurance to reimburse us for everything we spend, rather than just for extraordinary expenses. That’s not how real insurance works. 6. “Social Security is going bankrupt.” Wrong again. As long as there are taxes coming in, Social Security can’t go bankrupt. But when the Social Security trust fund is depleted, the incoming taxes won’t be sufficient to pay 100% of promised benefits.

9. “Congressmen are paid their salary for life.” This is another persistent rumor. To receive a pension, a member of Congress must have five years of service, which means a member of the House of Representatives would need to be re-elected twice. A pension is nothing close to full pay. And, yes, members of Congress pay Social Security taxes and contribute toward their pensions.

 

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quinnscomments Social Security is already in deficit according to David Pattison's 'Social Security Trust Fund Cash Flows & Reserves' (from The laughably named 'Trust Fund' remains in deficit until Jesus returns in 2032 and he miraculously reverses things. Thank God.

quinnscomments it's safe to say it's already bankrupt.

quinnscomments This article is complete garbage.

quinnscomments We need to get rid of healthcare insurance companies & copays. For profit individuals should not be standing in between patients and healthcare providers. We continuously expand our highways in Houston without financial pain to users because corporations do not own our highways.

quinnscomments With all the millions $$$$$$$ going into SS each day? No way SS is going bankrupt. FakeNews

. quinnscomments Sorry sucker class of Amerika, but 2010 audit is show SSA illiquid by 2030, by 2012 is commence sale of TBs.

quinnscomments

quinnscomments Headline suggested this was some liberal bernienomics hocus pocus crap but turned out to be good

quinnscomments Social security is bankrupt And so are state pensions in NJ and IL And they’re proposing legislation to raise social security taxes to bail it out. Do Better

quinnscomments Yes the last point is very important, tells you a lot about a person’s character

quinnscomments If the SECURE Act of 2019 passes, it will be necessary to divide inherited IRA bequests into small segments so as not to trigger high rates of tax on 10 year withdrawals for non-spouse recipients. Better ten people get $100K or $10K a year in withdrawals, than 1 person $1 million

quinnscomments SHOPPING CARTS!!!!!!

quinnscomments Most of these ‘lies’ are actually true, and you telling people otherwise is stupid and reckless. This article literally makes me hate you because you have NO idea what you’re talking about, and pretending you do.

quinnscomments “Notably pension benefits “ for teachers?! Are you seriously publishing this irresponsible garbage? Teaching Salaries have been frozen for a decade & benefits, like pensions are GONE. I thought this was actually a reliable site. Teachers aren’t just underpaid. They are trashed

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