NLIC.org

Jamie Said:

Can someone check my understanding on Social Security in the United States?

We Answered:

The US social security system does NOT have a component for unemployment. The employer pays separate federal and state unemployment taxes on the first $7000 the employee makes.

The federal rate is 6.2%, but the federal will give a credit for the first 5.4% paid to the state.

Unemployment compensation in the US is intended to be temporary. Currently, most states are offering emergency extensions and using federal money to pay them.

FWIW, the SS system has a disability insurance component, but it is extremely difficult to qualify. There is also a system to help people who are destitute, but the payments are extremely low.

Barbara Said:

What is your opinion of the following?

We Answered:

SO?

Just because people want things doesn't mean you get them.

I want a yacht. It is very unfair I can't have one. I went to the yacht club and they wouldn't let me join without a boat. That's descrimination.

Make a will if it's that important to you.

Josephine Said:

Where is the money donated to charities for the Victorian bushfire going?

We Answered:

that's a fair question.....
and yes often people donate because that is all they think that they can do....

there's one thing that you could pledge to do instead of donating money now .. and that is to go to those areas ( kinglake, churchill and marysville for example...) when they are back on their feet some ...and contribute to their local economies..

It will take a LONG time but marysville will again be beautiful and a tourist destination... so help them then perhaps..

OR ... also remember that our farmers are in crisis too and there is an appeal for them as well.