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Not understanding that one has to save and invest for their retirement. As I've already posted, most people LOSE money on SS. They'll pay more in SS tax over their working career than they will receive in total SS benefits. They would have been better off stuffing that money in a mattress where it earns no return whatsoever.
How do you expect people who can't even understand compound interest to make wise investing decisions?
Where did their money go? Why didn't the federal government perform their fiduciary duty to make sure their SS taxes would generate sufficient return?
Its not a "investment instrument".
But sure, the system should be tweaked.
I proposing nabbing about 50% of the military budget and create a "Federal SS Investment Fund", could even allow for private fund managers to manage it.
Quote:
Where did their money go?
The money supports current beneficiaries, but you should know that already.
Someone else conflated Medicare with SS. I corrected their mistake. They're neither taxed nor administrated the same. Are you incapable of following a discussion?
And you said that Medicare is break-even for the middle class which is preposterous. And you refuse to own up to it.
It's not even a taxes paid = benefits received system anymore. It's a LOSING proposition for most people, as even the SS Admin admits. How do you not get that?
We have a real f'ing problem on our hands if we are going to dumb down society to cater to people who cant function past a 6-8th grade math level, thats just unacceptable.
When you claim that you are not portraying anyone as idiots with such comments, just because they dont want to hand over SS to Wall Street, you are really not being honest with yourself.
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