Social Security to start cashing Uncle Sam's IOUs

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Jiro said:
sure we could do that but then - isn't it better to finish school within a short time so that one can get a highly-trained/highly-skilled job that will eventually pay back in taxes quickly? isn't that better than waiting long time for one to start paying taxes back?
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Dosen't work like that very often

Say person A can complete college in 4 years on SSI but 6 years working

4 years fullSSI =$39.400 nothing paid in

that means 19,700 in tax would have to be paid back in those 2 years

The grad has too immediatly start working and earn roughly $80,000 both years to break even
 
Tousi said:
I really don't want to argue that; we all know those things are there for people and it is their right to partake of them; what I'm talking about is the original intent/purpose of the Act and the reason it is on the brink now is because of a shrinking workforce contributing to it AND these other freebies which should have been provided via another law instead of taking from the SSA....the math just isn't there!
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that's what I'm asking you. what was the original intent/purpose of the Act?
 
txgolfer, for your information, I'm not qualify for Pell Grant but just federal loan, not enough because only pay tuition then pay books if any leftover.

My college don't offers Perkins or Stafford loan either, just FYI.

It is better to lessen the depend on loan because you would have pay back.
 
TXgolfer said:
Dosen't work like that very often

Say person A can complete college in 4 years on SSI but 6 years working

4 years fullSSI =$39.400 nothing paid in

that means 19,700 in tax would have to be paid back in those 2 years

The grad has too immediatly start working and earn roughly $80,000 both years to break even
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what if he makes a 6-figures? :) Plus - this increases a pool of success that majority will make $80,000 and top 1% will make 6+ figures. In the end - tax gets paid back.... a lot.

beside it's the risk and investment but it's certainly a lot better than paying for low-income or homeless people for life via medicaid/medicare/food stamp/welfare program/etc.
 
Tousi said:
Is there an echo in here?
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just saw your post that TXGolfer has mentioned it a few times as you claimed but I don't see it.
 
TXgolfer said:
BTW Koko and I both worked our way through school.......while raising children
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I had a college loan that paid for my grad schooling (and eventually paid it all back after several years of payment). Think of it in terms as an investment in yourself when you take out a college loan. Invest and believe in yourself. The only person you can rely on is yourself in order to succeed academically.
 
kokonut said:
I had a college loan that paid for my grad schooling (and eventually paid it all back after several years of payment). Think of it in terms as an investment in yourself when you take out a college loan. Invest and believe in yourself. The only person you can rely on is yourself in order to succeed academically.
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and can a low-income person or a disabled person even get a loan to better himself..... like college? they'd laugh at his face and tell him to stick with the janitor job.

that's where government assistance comes in. It's Social Responsibility... something that Founding Fathers believe in.
 
Jiro said:
and can a low-income person or a disabled person even get a loan to better himself..... like college? they'd laugh at his face and tell him to stick with the janitor job.

that's where government assistance comes in. It's Social Responsibility... something that Founding Fathers believe in.
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I was that person. Plus a wife and kids to support.

Sooo..?
 
Jiro said:
and can a low-income person or a disabled person even get a loan to better himself..... like college? they'd laugh at his face and tell him to stick with the janitor job.

that's where government assistance comes in. It's Social Responsibility... something that Founding Fathers believe in.
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Ok, then why isn't there another program to address that?
 
Jiro said:
what if he makes a 6-figures? :) Plus - this increases a pool of success that majority will make $80,000 and top 1% will make 6+ figures. In the end - tax gets paid back.... a lot.

beside it's the risk and investment but it's certainly a lot better than paying for low-income or homeless people for life via medicaid/medicare/food stamp/welfare program/etc.
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But see....we are assuming both graduate. So the salary would be the same.....just delayed.....I think the stundent loan program is the wy to go. Perhaps amend it to allow disabled students first access.

I have no problem with the government helping the disabled with College. My state already does that as you know. But there needs to be clearly worded programs for that. When we instead simply expand the definition of a program it turns into the mess we have now....medicaid/medicare/food stamp/welfare program/etc.
 
kokonut said:
I was that person. Plus a wife and kids to support.

Sooo..?
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So, you took assistance with your undergraduate schooling and no doubt your loan for grad school was federally funded. Kind of hypocritical to criticize another person for doing what is available to them to get ahead, isn't it?

You, as a married person, also had a second income during the time that you went to school. And you no doubt took advantage of that fact, as well.
 
Tousi said:
Social Security Act of 1935

Just in case....maybe TXG was only citing excerpts.
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:ty: it just backed my point.

PART 4- VOCATIONAL REHABILITATION

SEC. 531. (a) In order to enable the United States to cooperate with the States and Hawaii in extending and strengthening their programs of vocational rehabilitation of the physically disabled, and to continue to carry out the provisions and purposes of the Act entitled An Act to provide for the promotion of vocational rehabilitation of persons disabled in industry or otherwise and their return to civil employment , approved June 2, 1920, as amended (U.S.C., title 29, ch. 4; U.S.C., Supp. VII title 29, secs. 31, 32, 34, 35, 37, 39, and 40), there is hereby authorized to be appropriated for the fiscal years ending June 30, 1936, and June 30, 1937, the sum of $841,000 for each such fiscal year in addition to the amount of the existing authorization, and for each fiscal year thereafter the sum of $1,938,000. Of the sums appropriated pursuant to such authorization for each fiscal year, $5,000 shall be apportioned to the Territory of Hawaii and the remainder shall be apportioned among the several States in the manner provided in such Act of June 2, 1920, as amended.

(b) For the administration of such Act of June 2, 1920, as amended, by the Federal agency authorized to administer it, there is hereby authorized to be appropriated for the fiscal years ending June 30, 1936, and June 30, 1937, the sum of $22,000 for each such fiscal year in addition to the amount of the existing authorization, and for each fiscal year thereafter the sum of $102,000.
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Jiro said:
and can a low-income person or a disabled person even get a loan to better himself..... like college? they'd laugh at his face and tell him to stick with the janitor job. .
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You work for a college you know better than that. There is no qualifying based on credit for student loans
 
TXgolfer said:
But see....we are assuming both graduate. So the salary would be the same.....just delayed.....I think the stundent loan program is the wy to go. Perhaps amend it to allow disabled students first access.

I have no problem with the government helping the disabled with College. My state already does that as you know. But there needs to be clearly worded programs for that. When we instead simply expand the definition of a program it turns into the mess we have now....medicaid/medicare/food stamp/welfare program/etc.
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And those loans need to be paid back rather than hope that the govt will somehow forgive those loans. It's a loan, not free money like what many people may expect. That's the added incentive in a loan, makes you want to work harder and achieve that higher success result.
 
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TXgolfer said:
But see....we are assuming both graduate. So the salary would be the same.....just delayed.....I think the stundent loan program is the wy to go. Perhaps amend it to allow disabled students first access.

I have no problem with the government helping the disabled with College. My state already does that as you know. But there needs to be clearly worded programs for that. When we instead simply expand the definition of a program it turns into the mess we have now....medicaid/medicare/food stamp/welfare program/etc.
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While I agee that the system needs revisions, we cannot undo what has already been done. Right now, that is one of the ways that disabled students get assistance for school because little else is available. You can't really blame someone for using what is available and offered.

Another program cannot be instituted overnight. We need to have something available in the interim.
 
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