Daily Dose of Tim - And..

I get a printout every so often from the Social Security admin. Can always check it. Doesn't change the fact that in an OWNERSHIP society we need INSURANCE. Social Security is insurance for old age and disability. Unrestrained capitalism is fine if you're the ONE with the money.

Enjoy.

> Thanks to Rooster’s post below for reminding me a major problem –
> undocumented workers; i.e., illegal immigrants, using your social
> security number.

> How it works

> Anyone in the U.S. legally can get a legitimate social security
> number (SSN) and make/receive contributions. But for the x-number
> of illegals here, the only way they can get an SSN is to make up
> a number or use someone’s number.

> This is one of the biggest subsets of identity fraud and it could
> be years until the theft is discovered. At the Social Security
> Administration (SSA)office where I worked, we had people who found
> this out when they applied for benefits at age 65!

> Why it’s bad

> The problem for you – assuming the thief hasn’t already ruined
> your credit rating – is that you may have tax liabilities you
> didn’t know about. You may have an artificially high income that
> prohibits you from obtaining means-tested Government programs or
> qualifying for breaks such as property tax reductions.

> Your state may be taxing your retirement income because you’re
> over the threshold for exemptions. Heaven – and a good criminal
> defense attorney – help you if you drew unemployment compensation
> or means-tested payments while your stolen SSN was gainfully employed.

> The thief may not have damaged your credit yet – but what happens
> when s/he is ready to leave the U.S. for good?

> Why Government/Industry doesn’t stop it

> In 2002 (the last year I know about), the SSA had 9-million people
> who paid social security taxes with mismatched names and numbers.
> Some of that is mere oversight such as women who married and forgot
> to notify us. The amount of money in the Earnings Suspense File
> (contributions from mismatched names/numbers are assigned to this fund)
> is now more than $400 Billion. Yes, billion.

> SSA does notify employers of these mismatched numbers but now you’re
> getting into highly political areas. Some years we sent letters to
> the employers with the most problems and some years letters went
> to any employer with a problem.

> Other times, the letters weren’t allowed to be sent because
> immigrant support groups and their tame Congressmen or employers
> complained. Remember, undocumented workers can be excellent
> employees and you’d be surprised at how many companies complain
> when they get these letters.

> Why agencies don’t help each other

> Credit obtained by imposters using their real name but a stolen
> SSN doesn't appear on the real person’s credit report. They’re
> treated as two separate accounts.

> All the federal agencies have rules or laws prohibiting the sharing
> of information. For instance, SSA won’t notify INS of these types
> of problems.

> Why it will only get worse

> Whether or not you believe there is a near or far-away problem
> with funding social security, the problem is likely to get worse
> thanks to legislators from both parties.

> President Bush’s “immigration reform” creates a Totalization
> agreement with Mexico (if Congress approves it). Totalization
> means a person – whether legally or illegally in the U.S. – can
> get social security and other benefits based on the total time
> worked in both countries.

> Example – you need 40-quarters of work to qualify for social
> security payments. Someone from Mexico could receive social
> security if he worked 20 quarters in the U.S. and 20 quarters
> in Mexico. His U.S. payments would be calculated on the 20
> quarters he worked here. Without totalization, he wouldn’t
> be entitled to any benefits.

> If you read my earlier post, you’ll see under the complicated
> payment formula, low income payers receive a greater percentage
> (not actual dollars) than higher income payers. However, everyone
> receives much more than they paid in.

> Since many of the people who would benefit from this were using
> phony or stolen SSNs to begin with, there is nothing to prevent
> them from falsifying W-2s or other “evidence” of earnings to
> get social security.

> Bottomline

> If you at least 25-years old and not receiving social security,
> you should automatically get a statement from SSA by mail each year.

> Your yearly Social Security Earnings and Benefit Estimate Statement
> lists all earnings posted to your record, along with an estimate of
> benefits.

> It is very important that that you check your Social Security
> Earnings and Benefit Estimate Statement yearly.

> In fact, if you haven't received your statement, that could be
> a symptom of identity theft.

> Look for
> Missing, incorrect, or overstated earnings.
> Earnings should agree with each year's W-2 or tax return.
> Incorrect or misspelled name.
> Incorrect date of birth.

> To request your benefits estimate statement, download Form 7004,
> (requires the Acrobat Reader) at http://www.ssa.gov or call
> the Social Security Administration at 1-800-772-1213. The Social
> Security Fraud Hotline at 1-800-269-0271.