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Old Yesterday, 03:11 PM
 
Location: Houston
22,810 posts, read 11,768,612 times
Reputation: 9276

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Quote:
Originally Posted by Frank DeForrest View Post
If you like your SS you can keep your SS, just let those who want out, opt out. Whats your problem with letting people make their own choices with their own money?
The real problem is when those people make stupid choices the bleeding hearts will bail them out. I do agree with you philosophically.
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Old Yesterday, 03:16 PM
 
30,273 posts, read 16,685,979 times
Reputation: 14050
Quote:
Originally Posted by unfailing presence View Post
That's a myth .
I heard the truth that it is all being safeguarded in a SSI " Lockbox " from the same democrat who gave the truth on climate change .
So you know you can trust him .
congrats on being one of the few who understand how it operates. No money is set aside for anyone, FICA, SS and Medicare "contributions" () get dumped into the general fund as quickly as they are taken from paychecks in order to the bills of the state.
Some of it spent on bombs to blow women and children up and some of it goes to SS recipients.
C'mon Millenials and gen z'ers, work hard, have lots of productive offspring, uncle sams ponzi's need you!
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Old Yesterday, 03:19 PM
 
16,451 posts, read 4,322,324 times
Reputation: 11531
Quote:
Originally Posted by KenCopeland View Post
lololol

Just put the equivalent of the SS 12%-13% tax into an S&P 500 index annually starting at age 20, keep working/contributing and you'll be a millionaire by retirement. Doesn't require genius level ability.
Obviously even genius doesn't do it because Trump would have

20 Billion if he was in the S&P
120 Billion if he invested with Buffet
8-12 Billion if he invested in CD's and T-Bills at the time
And yet he was at zero after 30 years of "investing".

It's always easy to look backwards and say what one should have done.....but people don't do it. For one, most people don't have an extra penny until at least 30 yo.

If said person was 30 yo at the turn of this century they would be 4.5% per year compounded for the last 20 years....not exactly millions in most cases.

In an ideal world we could all look backwards and pick out time periods and the Great Recession would not have happened, etc. etc.

But in this world we actually live in, that SS is about ALL that came through for many tens of millions of workers.
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Old Yesterday, 03:21 PM
 
9,963 posts, read 2,447,193 times
Reputation: 4939
A mere 15 years before Social Security’s trust fund runs dry ?


Not true.
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Old Yesterday, 03:21 PM
 
30,273 posts, read 16,685,979 times
Reputation: 14050
Quote:
Originally Posted by whogo View Post
The real problem is when those people make stupid choices the bleeding hearts will bail them out. I do agree with you philosophically.
Crowd source funding, make a donation to a worthy cause, support a church, etc. there are many moral ways to help others in need.
And I have no doubt people would be more altruistic once Caesar stops taking from them for his own causes.
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Old Yesterday, 03:23 PM
 
30,273 posts, read 16,685,979 times
Reputation: 14050
Quote:
Originally Posted by Hesychios View Post
A mere 15 years before Social Security’s trust fund runs dry ?


Not true.
Who cares, its an immoral criminal scheme, that forcibly makes people poorer today with no guarantee of any future return.
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Old Yesterday, 03:28 PM
 
24,768 posts, read 12,200,862 times
Reputation: 10575
Meh, I don’t care. I don’t pay into that Ponzi scheme.
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Old Yesterday, 03:42 PM
 
479 posts, read 213,001 times
Reputation: 596
Quote:
Originally Posted by Enigma777 View Post
It will not happen. There are many seniors who would literally be thrown into poverty, who have paid into the system their whole life. Nobody, and especially nobody who has to get elected, is going to go along with it. Can you imagine the homeless population increasing even more due to seniors being on the street? Or dying due to lack of health care?

There are many many other things that could and should be cut first.

How about SSDI? That is where much of the fraud comes from. The government needs to address this first. Then many other budgets can come under the knife before Social Security and Medicare. There is military bloat.

There is Congress. They receive a pension and benefits, which the majority of workers no longer receive. Their benefits will have to be cut before they start taking away the income of senior citizens, and I think they are well aware of this.

Any advisor or official who ever mentioned screwing with SS and Medicare have found out very quickly why it is called the third rail. Even when the Tea Party was starting their Don't Tread on Me stuff and calling Dems socialists due to health care, they were also loudly proclaiming---'Don't touch my Medicare'.

They will find a way. Until all fat is cut from the budget, including farm subsidies, and other forms of income provided by the US taxpayers, nobody is going to touch SS. Trump can bloviate all he wants about cutting it. He is only hurting himself--those republicans who have to get elected and will be sticking around DC, will not support him in this.

Very true, it will not happen. It would be political suicide. Might as well just walk away. They wealthy have always made the rules & will most likely for any foreseeable future. You know the golden rule: 'The one with the most gold makes the rules'.

Seniors thrown into poverty ? I don't think so. Don't take SS from those below the poverty line.

SS would go to many homeless (who qualify). It would greatly reduce the # of street people.

Where are the fraud police ? SSDI - welfare - gov. housing - tax evasion - on and on and on. The criminal will always find a way.
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Old Yesterday, 03:47 PM
 
Location: The South
5,369 posts, read 3,718,797 times
Reputation: 8208
Quote:
Originally Posted by KenCopeland View Post
Let it go bankrupt and close the books on it... No more socialist programs. I'd prefer to manage my own retirement, thank you.

Like Milton Friedman propsed...All those with accumulated entitlements are issued a bond due at 65 and equal in value to each of their present accumulations under the law, then close the books. done.

REF: https://www.marketwatch.com/story/th..._theo_homepage
I’ll be 97 in 15 years if. Its been a good ride since I started SS at age 62.My thanks to everyone who has contributed.
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Old Yesterday, 03:49 PM
 
307 posts, read 147,271 times
Reputation: 714
Not sure why everyones fussing over this. We're all gone in 12 years from climate change.
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