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Old 09-13-2011, 01:41 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,833,234 times
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Quote:
Originally Posted by HappyTexan View Post
Argentina nationalized everyone's pension ($30 billion). They didn't think it could happen to them. The government said it was to save the system.
Plausible here ? There are trillions in 401K plans.
Public and private pensions are underfunded and SS is running monthly deficits. Doesn't that sound like the country's retirement system is in trouble ?

And they say Americans can't save ..as they slobber over the thought of trillions of our saved dollars begging to be spent.

Argentina to Nationalize Pension Funds - washingtonpost.com
That's just scary. I've heard of nationalizing pensions somewhere before, but if I recall, they were laughing it off as "never gonna happen."
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Old 09-13-2011, 02:51 PM
 
9,848 posts, read 8,281,707 times
Reputation: 3296
Quote:
Originally Posted by desertdetroiter View Post
Yes there would be a riot. There should be a riot. And i hope that it would be a very large and very angry riot. And if need be...i'd hope it would be a violent riot.
Can a riot make funds in a bank to pay for things? There is a lack money and an abundance of good intentions.
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Old 09-13-2011, 02:56 PM
 
6,993 posts, read 6,338,198 times
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Quote:
Originally Posted by 70Ford View Post
http://en.wikipedia.org/wiki/Social_insurance

In the U.S., programs that meet these definitions include Social Security, Medicare, the PBGC program, the railroad retirement program and state-sponsored unemployment insurance programs.

Imagine if, tomorrow, there was a national broadcast and every one of those programs was immediately canceled, null and void.

What would you do? Would you care? The bigger question is what do you think everyone else would do...... I think we'd see some revolts. People say "Oh, they are so lazy, they won't do anything." I think they would. I think there would be riots for entitlements.

Just like France. And Greece. And Egypt. And everywhere else that has ran out of money.

France braces for riots as protests turn violent - Europe, World - The Independent

Egyptians riot over bread crisis - Telegraph

Bulgaria: Police Crack Down on Riots as Greece's Unemployment Hits New Peak - Novinite.com - Sofia News Agency
You'd have a lot of dead senior citizens, but I guess that would be the point, wouldn't it.
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Old 09-13-2011, 03:00 PM
 
13,053 posts, read 12,951,643 times
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Quote:
Originally Posted by HappyTexan View Post
You wouldn't get anything back. Now how would you react ?

Well, I have pretty much written all the money they take off as theft anyway that I am likely never to see. What I would do depends...

If they are still taxing for it when they cut the programs? Well... I would stop paying taxes all together and go underground (which many people and companies would begin to do, and some already do) never paying a dime into the system again.

If they stop taxing for them, well... as I said, considering that I wrote that off as theft a long time ago and never counted on it, I would consider it a nice tax break.

You and I both know, that isn't how it would work. They would cut the program and then claim they still need to collect the taxes for... well... something...
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Old 09-13-2011, 03:02 PM
 
13,053 posts, read 12,951,643 times
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Quote:
Originally Posted by ray1945 View Post
You'd have a lot of dead senior citizens, but I guess that would be the point, wouldn't it.
Maybe some, not in my family though. We take care of our own.
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Old 09-13-2011, 04:42 PM
 
Location: Maryland about 20 miles NW of DC
6,104 posts, read 5,990,747 times
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If Social Security and Medicare are cut off I and several hundred thousand Americans who are on dialysis treatment would be on a path to our deaths. I give myself two to four weeks. We would not be alone as many as 1 in 3 Americans are one mostly government paid medication and life extending treatment and would follow us to the grave in the following weeks and months to come. Think of a hundred million American graves blowing in the wind, blowing in the wind.
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Old 09-13-2011, 05:45 PM
 
6,993 posts, read 6,338,198 times
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Quote:
Originally Posted by Nomander View Post
Maybe some, not in my family though. We take care of our own.
Try paying for a quintuple bypass. Or a year or so of chemotherapy. Or even a hip replacement. Better yet, try paying for all three. See how fast your family is bankrupt...and how quickly you start weighing the benefits vs the costs.

If I were you, I wouldn't be so fast to break my arm patting myself on the back....

Psst: What about those over 65 who don't have any family?? I know, I know they should have planned better and had a dozen or so children...
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Old 09-13-2011, 06:43 PM
 
13,053 posts, read 12,951,643 times
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Quote:
Originally Posted by ray1945 View Post
Try paying for a quintuple bypass. Or a year or so of chemotherapy. Or even a hip replacement. Better yet, try paying for all three. See how fast your family is bankrupt...and how quickly you start weighing the benefits vs the costs.

If I were you, I wouldn't be so fast to break my arm patting myself on the back....

Psst: What about those over 65 who don't have any family?? I know, I know they should have planned better and had a dozen or so children...
Or.. just help them pay for insurance...
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Old 09-13-2011, 07:01 PM
 
6,993 posts, read 6,338,198 times
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Quote:
Originally Posted by Nomander View Post
Or.. just help them pay for insurance...
An over 65 (or worse, multiple over 65s) with pre-existing conditions...better get a quote before you start volunteering to pick up the tab for premiums...

Like I said, save that arm...
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Old 09-13-2011, 07:09 PM
 
Location: Reality
9,949 posts, read 8,852,274 times
Reputation: 3315
Quote:
Originally Posted by desertdetroiter View Post
Yes there would be a riot. There should be a riot. And i hope that it would be a very large and very angry riot. And if need be...i'd hope it would be a violent riot.
This is exactly why people who have no skin in the game shouldn't be allowed to vote. It's a sad reality but it's the truth.

People who have paid little or nothing into the system would be the first in line to torch stores when they found out that their gov. checks might be stopping soon. The entitlement mentality that liberals have created has hurt this country more than any war or terrorist attack ever could.
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