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Unless this has changed in the last few years, there are some places in TN where the tax/fee for fire service is separate, and also optional. If you choose to take your chances and not pay, they'll let your house burn (I would imagine though if you have a mortgage, the mortgage holder would make sure that the fee is covered and make sure the borrower pays for it).
they let that house burn out, what about the neighbors’ house?. For how long does it have to burn before their firefighters start containing the fire?
Funny how after 80+ years, I haven't heard of the US government renegging on earned SS benefits for people who had enough work credits and hit age of eligibility. Kind of debunks your post��
No, it doesn't.
He's likely referring to the SCOTUS decision Flemming vs. Nestor (1960).
In 2014, Republican David Jolly mentioned in a Congressional campaign debate that the U.S. Supreme Court found that Social Security is not guaranteed (referencing Flemming vs. Nestor).
Politifact rated that statement by David Jolly to be true:
Nothing is guaranteed but politicians know darn well not to touch social security for those older folks because they vote. So eventually if they cut it will be the younger generation who will get cuts.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,601,062 times
Reputation: 9169
Quote:
Originally Posted by RMESMH
No, it doesn't.
He's likely referring to the SCOTUS decision Flemming vs. Nestor (1960).
In 2014, Republican David Jolly mentioned in a Congressional campaign debate that the U.S. Supreme Court found that Social Security is not guaranteed (referencing Flemming vs. Nestor).
Politifact rated that statement by David Jolly to be true:
If Social Security was ended and all proceeds received for people who haven't started collecting yet weren't refunded in full, I guarantee you that every politician in DC would be voted out if there wasn't armed combat first
Social Security is perfectly sustainable..... it just needs to be adjusted occasionally to account for ebb and for of generational size. Its just actuarial math, no surprise to the folks in the government whose job it is to do these projections. The whole "privatize social security" crap the republicans keep try to dish out is a nonstarter. The fact that it is mandatory is a good thing, privatize it and watch a big part of the population blow it off. In 30 years you are going to have to take care of a whole generation who have pretty much nothing on average.
I certainly trust the government far more than Wall Street to do the right thing.
The math would work better if the government did invest it partially in stocks.
Had we done this years ago when Clinton and then Bush briefly proposed it, Social Security would be in an extremely better position....even if the stock market dropped 50% tomorrow, social security still would be in a much better spot if it had invested partially in stocks as opposed to government bonds.
Pensions are invested in.....stocks, usually at least 50% and typically more of pensions are in stocks.
A person with the starting pay of just $15K a year, 3% annual raises, 45 years ago and invested the same amount that their social security tax is plus employer match into the S&P 500 index with reinvested dividends would be a multimillionaire today.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,601,062 times
Reputation: 9169
Quote:
Originally Posted by michiganmoon
The math would work better if the government did invest it partially in stocks.
Had we done this years ago when Clinton and then Bush briefly proposed it, Social Security would be in an extremely better position....even if the stock market dropped 50% tomorrow, social security still would be in a much better spot if it had invested partially in stocks as opposed to government bonds.
Pensions are invested in.....stocks, usually at least 50% and typically more of pensions are in stocks.
A person with the starting pay of just $15K a year, 3% annual raises, 45 years ago and invested the same amount that their social security tax is plus employer match into the S&P 500 index with reinvested dividends would be a multimillionaire today.
The stock market has considerable risk though, that's why most people don't want their retirement in stocks. Almost as dangerous as trying to play blackjack or poker with it at Caesers Palace....
I can invest my money far better than the government can. I (24 year old) already save nearly 25k/year - (already have 80k for retirement). I don't need someone forcing me to save for my retirement and then giving me poor returns after stealing my money.
Not to mention, I have doubts I'll even see any social security money because boomers, gen x, and most millennials are not savvy when it comes to finances.
The only thing I can kind of get behind is medicare, but even then, if we let the market rule, it would probably be cheaper. Universal healthcare shouldn't be a thing.
Just to let you know, markets are ruled by entities.....with people running those entities! I learned that as I went up in years from a 24 year old......!
look up healthcare in Switzerland. the government provides subsidies for low income people (which I don't mind), but it's a free market. the only down side is that companies can't make a profit off basic insurance, which I can get on board with.
No it is not (a free market). The basic premium is fixed. Hospitals are heavily regulated, etc. Even so, per capita is more than any other European country. Of course, still cheaper than US, and everybody is covered.
You people who don’t like the system can also elect NOT to take the money since you are doing so well. Do you realize that not everyone is in the same financial shape you claim your in?
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