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The principle gets paid back. Problem is, the gov incurs new debt in order to pay it.I have always maintained that our debt was meaningless since we never had any intention of paying any of it off.
If you are gonna want your SS monies that are owed to you, the debt needs to be paid off. SS trust fund is 100% "funded" with treasury debt. If it's not paid back, no one who is owed will get their money back.The debt is based in monoply money. why worry about paying it off?
Social security has no mandate of participation.they wouldn't have had to mandate participation in it
Are you serious? Have you tried to tell your employer, you no longer want FICA withholdings from your pay?Social security has no mandate of participation.
I'm just tellin' ya that there is no actual mandate in the law. Ie: the Social Security Act. Participation is 100% voluntary.Are you serious? Have you tried to tell your employer, you no longer want FICA withholdings from your pay?
And in other news, water has been proven to be wet.ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
It's not voluntary. IT IS THE LAW.I'm just tellin' ya that there is no actual mandate in the law. Ie: the Social Security Act. Participation is 100% voluntary.
The problem today, and for many years now, is that virtually everyone has volunteered to participate in it. Which makes it hard for anyone not wanting to.
Edited to add: acceptance and use of the # constitutes ones voluntary participation.
To have participation mandated by law would be unConstitutional.
Nope. There is NO law requiring an American citizen to obtain and use a SSN.It's not voluntary. IT IS THE LAW.
It is mandatory for employers to ASK employees for a #, but no requirement that they actually be given one.Withholding FICA is mandatory.
Employers' recording and verifying SSNs is mandatory.
Sorry, but it's not. If it were, then there would be no need for a "form P-1 affidavit" from those without one. *Employing someone without a SSN is illega
Only for you, perhaps.Look, this is a stupid argument.
As a employer and employee I looked into opting out of SS about 20yrs ago (i could have turned that 15% into a lot into todays $).....at that time it was possible ...seems like it required some specific op out form be filed etc......I was pretty vested in at that point and decided not to opt out as I was close to early retirement....I am on a personal mission to recoup those $ and started collecting SS funds this january...it does get me excited they want to collect taxes on those paymentsIt is mandatory for employers to ASK employees for a #, but no requirement that they actually be given one.
Sorry, but it's not. If it were, then there would be no need for a "form P-1 affidavit" from those without one. *
Only for you, perhaps.
* I realize that you do not know what a form P-1 affidavit is. It's from the irs.
Form P-1 PDF Details
This affidavit should state that the payor has made a request for the payee's identifying number, and the payee has not provided it. By submitting this affidavit, the payor demonstrates that the failure to provide the required identifying number is due to reasonable cause and not willful neglect.
Without a P-1, there is a $50 fine on the payor for not providing a payees number.
....but with a P-1, the fine is waived.
Edited to add: if what you are saying were true, it would be impossible to be a payee without a #, yet there is a form that allows for it.
Why would there be a form allowing for something that is supposedly prohibitted?
https://www.pdffiller.com/jsfiller-...nge-v2=false#978230fe19d748cfb34030d053b469a2
As a employer and employee I looked into opting out of SS about 20yrs ago (i could have turned that 15% into a lot into todays $).....at that time it was possible
That money already had taxes paid on it, yes?.it does get me excited they want to collect taxes on those payments
So no idea why such a form that allows for a payor to not have to report a payees SS# is a thing, huh?Okay, whatever.
I never said it'd be easy. Especially not with 99.9% of the public having been brainwashed into thinking that there is a mandatory requirement for any/all US persons to have one.Try it sometime.
It'll go like declaring yourself to be a "Sovereign Citizen" and not filing a tax return, will go.
What?So no idea why such a form that allows for a payor to not have to report a payees SS# is a thing, huh?
If it were a blanket requirement, the irs would make no mention of such a thing.
Hairy Weed was a lying POS.I'm just explaining how the mechanism of the system works. Try not to hate the messenger.
Of course you don't. I wouldn't expect you to. I already knew that based on your previous responses.What?
I have no idea what that means.
That's good, because I'm not arguing either. I'm merely explaining the mechanism for how the system actually works.I'm not going to argue about what IS law/regulations.
Yep, sure does and I've read a lot more of it than most people have.The United States Code fills whole walls of libraries; but I guaran-damn-tee ya, if there was a practical, legal way to opt out, PEOPLE WOULD DO IT.
Yep. They sure do. Anyone having volunteered to accept and use the number while being "self employed" would have to.They do not. 1099 employees pay the FULL FREIGHT of FICA, instead of half (the other half paid by employers). Would they do that if not required by law? Is everyone deluded except yourself?
That's not what this is.I'm not going to participate in another Flat Earth discussion.
/word
He may be that, but in that vid he was being what I would call, evasively honest. Like I said, he chose his words very carefully in his responses. He's being technically correct while also not saying it in such a way as to be easily understood by those with no clear understanding of the law.Hairy Weed was a lying POS.
Did I say opt out, or did I say don't volunteer to begin with?Instead of being cute, with cryptic references, why don't you show me, STRAIGHT OUT of the United States Code or CFR, the procedures for opting out of FICA
It depends on how badly a company wants to hire you.Why don't you show me how an employee can refuse to provide a social-security number and be put on a payroll.
if you don't have a SS#, why would you want to file an income tax return? You have to have a number to do that.Why don't you show me where a person can work for wages, and either file taxes without a SSN or not file, legally
Yes, but only if you already had a liability requiring you to file, and you did not.You don't file, you go to prison for non-payment.
Oh yes, they are very much so that. The complexity of the regs is what keeps people on the easy path of volunteering to put what amounts to a gov ring in their noses in order to be led along by.This is an asinine discussion. The only worthwhile thing to glean out of this, is how needlessly convoluted and complex are Federal regulations and laws.
If ya do it right, you'll never see a court.Show me ONE case, court ruling or example, where your INTERPRETATION of this spider-web of laws has been accepted as valid.
When did I ever say it comes down to that?One thing that troubles and annoys me, is this belief in Magic Words.
One thing that troubles and annoys me, is this belief in Magic Words
Paul Krugman was widely trolled on Thursday for saying that if you just ignore food, energy, housing, and used cars — unavoidable costs for many Americans — then the period of surging prices has passed.
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The Nobel Prize-winning economist and New York Times columnist faced immediate backlash to his heavily adjusted yardstick of price growth. His X post was still at the top of the popular Wall Street Bets subreddit on Friday morning.
"A totally ridiculous measure," Jim Bianco, president and macro strategist of Bianco Research, said about Krugman's chart in an X post. "It excludes 55% of the index."
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