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Cake day: July 5th, 2023

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  • First, this post is about social security disability insurance, SSDI, not social security retirement benefits. The disability fund is paid into by current workers to pay the benefits of currently disabled people, which may or may not have worked previously. Someone born disabled receives benefits as an adult even if they’ve never contributed.

    Second, your statement isn’t valid for SS retirement benefits either. Current SS taxes pay the benefits of current SS recipients. The taxes have never been saved to pay for future benefits. The more you pay in the more credits you receive for your future benefits, but nothing is actually saved on your behalf. If benefits are reduced, it’s not your saved money you’re being denied… it’s a promise being denied.