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Old 12-01-2018, 06:02 PM
 
Location: Silicon Valley
2,945 posts, read 1,295,375 times
Reputation: 5339

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Looking for solutions to keep SS solvent.

If we consider the normal lifespan of an American

First 20 years are with parental support
Next 45 years are spent working
Last 20 years are retirement years

Idea #1:
Those that are working are supporting everyone. Why not allow for SS benefits to be paid out irrespective of whether or not someone continues to work at age 65, or 69? Even if someone is making $100,000 in income at 65, that's still a contribution of $6200 from them and $6200 from their employer going into the program for direct SS payments, and the income tax generated will likely, in total, net to a surplus to the government.

Plus, many companies create a lot of value per employee far beyond the cost of the employee. A higher workforce percentage is good for a country.

Finally, people who are active tend to live longer and remain healthier. Sure that means they collect longer, but the longer they produce, the more realistic the program becomes.
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Old 12-01-2018, 06:15 PM
 
Location: Aurora Denveralis
3,836 posts, read 1,279,461 times
Reputation: 5368
1. Social Security economics is so fearsomely complex that it's nearly impossible to comprehend on a Joe Q. Checkbook level. It is complicated in part because the government likes it that way; they'd just as soon we stay out of the discussion because even without the smoke and mirrors, it is a truly complicated arrangement. (It also yields votes for all sides depending on how they present it.)

2. See #1.

3. If you insist, Social Security doesn't really need "fixing" unless you almost wholly misunderstand how it works. See #1.
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Old 12-01-2018, 06:17 PM
 
Location: New England
228 posts, read 159,873 times
Reputation: 441
The fear of SS going bust is over blown. SS won't go bust nor will federal and state pensions.
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Old 12-01-2018, 06:19 PM
 
17,784 posts, read 12,478,198 times
Reputation: 13113
Quote:
Originally Posted by artillery77 View Post
Looking for solutions to keep SS solvent.

If we consider the normal lifespan of an American

First 20 years are with parental support
Next 45 years are spent working
Last 20 years are retirement years

Idea #1:
Those that are working are supporting everyone. Why not allow for SS benefits to be paid out irrespective of whether or not someone continues to work at age 65, or 69? Even if someone is making $100,000 in income at 65, that's still a contribution of $6200 from them and $6200 from their employer going into the program for direct SS payments, and the income tax generated will likely, in total, net to a surplus to the government.
How does this help? The person earning 100k is taking a lot more out of the program than 6200 or double that including employer contributions

Quote:
Plus, many companies create a lot of value per employee far beyond the cost of the employee. A higher workforce percentage is good for a country.
How does this help ss? Does this also assume said employee canít be replaced?

Quote:

Finally, people who are active tend to live longer and remain healthier. Sure that means they collect longer, but the longer they produce, the more realistic the program becomes.

Again how does this play into helping ss? Reduce benefits, extend fra, eliminate wage cap all can help the program but I donít see anything here that does
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Old 12-01-2018, 06:22 PM
 
5,024 posts, read 2,394,878 times
Reputation: 9249
Quote:
Originally Posted by artillery77 View Post
Why not allow for SS benefits to be paid out irrespective of whether or not someone continues to work at age 65, or 69?
SS benefits are already allowed to be paid out irrespective of whether someone continues to work. It's an income tax issue, not an "allow" issue.
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Old 12-01-2018, 06:24 PM
 
5,024 posts, read 2,394,878 times
Reputation: 9249
Quote:
Originally Posted by Lowexpectations View Post
Again how does this play into helping ss?
Indeed. As cold as it sounds, ss would be helped more if people would just politely keel over and die sooner instead of actively extending their lives.
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Old 12-01-2018, 06:31 PM
 
17,784 posts, read 12,478,198 times
Reputation: 13113
Quote:
Originally Posted by Quietude View Post
1. Social Security economics is so fearsomely complex that it's nearly impossible to comprehend on a Joe Q. Checkbook level. It is complicated in part because the government likes it that way; they'd just as soon we stay out of the discussion because even without the smoke and mirrors, it is a truly complicated arrangement. (It also yields votes for all sides depending on how they present it.)

2. See #1.

3. If you insist, Social Security doesn't really need "fixing" unless you almost wholly misunderstand how it works. See #1.
Joe q doesnít need to understand any of it and then the reality is itís not all that complicated to address. And by no coincidence you provided no suggestion on fixing the program
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Old 12-01-2018, 06:32 PM
 
17,784 posts, read 12,478,198 times
Reputation: 13113
Quote:
Originally Posted by lieqiang View Post
Indeed. As cold as it sounds, ss would be helped more if people would just politely keel over and die sooner instead of actively extending their lives.
Thatís what existed when the program was created
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Old 12-01-2018, 06:43 PM
 
Location: Billings, MT
9,202 posts, read 7,246,240 times
Reputation: 12704
How to "fix" social Security?
Perhaps a "fix" would be to require Congress to pay back all the money they "borrowed" (stole) from The Social security Trust Fund. Of course, that would require proof that "they" actually stole the money.
good luck.
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Old 12-01-2018, 07:43 PM
 
Location: Cebu, Philippines
2,578 posts, read 936,549 times
Reputation: 5099
Signifantly reduce the maximum benefit. There are married couples getting more from SS (over $60,000 a year) than I ever earned in a year of working. They had the income to afford on their own their continued lavish liestyle, it is not what SS was designed to pay for.

Last edited by cebuan; 12-01-2018 at 07:54 PM..
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