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Posted On: 01/29/2024 9:56:28 PM
Post# of 124252
Please, all you wannabe secessionists go all Nike; just f'ing do it!
Texans' Social Security in Question if State Secedes
"If we secede, do we still get our Social Security monthly checks?" one user wrote in a Texas Patriots for Secession Facebook group.
According to Social Security experts, the answer to that question is a bit complicated.
Social Security was originally established under the Social Security Act of 1935 as a federal program to support the elderly and disabled as well as the survivors of deceased workers. It's entirely funded through payroll taxes under the Federal Insurance Contributions Act (FICA), which means it relies on current workers' contributions to support current retirees.
If Texas ever did actually secede from the United States, issues would pop up because Social Security is a federal program fully managed and distributed by the federal government.
"If a state were to secede, its residents would no longer be under the jurisdiction of U.S. federal law, which includes the Social Security Act and its subsequent amendments," True Tamplin, the founder of Finance Strategists, told Newsweek.
In all likelihood, some believe the separation would mean residents in the seceding state would lose all eligibility for Social Security benefits since they would no longer be contributing their taxes to the federal program, Tamplin said.
And unfortunately, that would mean all residents' former contributions would remain within the federal system, unable to support them when it comes time for retirement.
https://www.msn.com/en-us/news/us/texans-soci...r-BB1hrTtJ
Texans' Social Security in Question if State Secedes
"If we secede, do we still get our Social Security monthly checks?" one user wrote in a Texas Patriots for Secession Facebook group.
According to Social Security experts, the answer to that question is a bit complicated.
Social Security was originally established under the Social Security Act of 1935 as a federal program to support the elderly and disabled as well as the survivors of deceased workers. It's entirely funded through payroll taxes under the Federal Insurance Contributions Act (FICA), which means it relies on current workers' contributions to support current retirees.
If Texas ever did actually secede from the United States, issues would pop up because Social Security is a federal program fully managed and distributed by the federal government.
"If a state were to secede, its residents would no longer be under the jurisdiction of U.S. federal law, which includes the Social Security Act and its subsequent amendments," True Tamplin, the founder of Finance Strategists, told Newsweek.
In all likelihood, some believe the separation would mean residents in the seceding state would lose all eligibility for Social Security benefits since they would no longer be contributing their taxes to the federal program, Tamplin said.
And unfortunately, that would mean all residents' former contributions would remain within the federal system, unable to support them when it comes time for retirement.
https://www.msn.com/en-us/news/us/texans-soci...r-BB1hrTtJ
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