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Let's worry about the rich who have tripled their wealth in a decade and are walking off with 40% of the economy. When we correct that we can look at the poor
Thx, but the net effect/point is, people getting SS are not getting "freebies." Appreciate the clarifications though. Although I had heard that SS was "good" up through 2040something and even then people would still get something like 70% of what they would've expected, w/zero paybacks kicking in a good bit later. Can't say offhand for sure though.
Just a few points here. Up until the last few years most people received much more from SS than they put in. People who retired in the 1980's received everything back in just a few years.
The term SS going bankrupt is not appropriate so it is never projected to go "bankrupt" what it is on track to do is payout more than it receives. The mythical "Trust Fund" is due to be depleted at current median projections in 2037. According to the trustees the median date when we would need to draw on the trust funds was 2017. As of last year we actually took in less than we paid out, so while they technically did not draw from the trust fund, they drew from the interest the IOU’s were earning. So we paid some SS out of the general fund. This is 7 years early. If you look at the trust fund projections you will see that they never accounted for the possibility of unemployment going above 7% in the next 75 years, GDP would never go below 2% and their immigration models did not account for a reduction in immigration as we have seen. Either way the trust fund is nothing more than an accounting trick, it is an obligation of the on-budget government, or you and I.
Bottom line, it is a government payout, not a return of you principal.
More than anything, they did not count of abortion depleting the population as it has. Our population has become an upside down pyramind with the retired people at the top. This is the opposite of what they thought it would ALWAYS be, the majority of the population being wage-earners. Medical science resulting in longer lifespans contributes to this as well.
More than anything, they did not count of abortion depleting the population as it has. Our population has become an upside down pyramind with the retired people at the top. This is the opposite of what they thought it would ALWAYS be, the majority of the population being wage-earners. Medical science resulting in longer lifespans contributes to this as well.
True but the projections I am talking about were done in 2007 or so.
Thx, but the net effect/point is, people getting SS are not getting "freebies." Appreciate the clarifications though. Although I had heard that SS was "good" up through 2040something and even then people would still get something like 70% of what they would've expected, w/zero paybacks kicking in a good bit later. Can't say offhand for sure though.
In a way it is a freebie. You pay tax to fund the current retirees, then if you live and if there are enough people to pay for you, money will come to you.
If it were saved in a separate account with your name, it would not be a freebie. As it is in reality, it is a hope of future welfare on the back of the workers of the future.
Let's worry about the rich who have tripled their wealth in a decade and are walking off with 40% of the economy. When we correct that we can look at the poor
What a capital idea! Yes, let's demonize the rich instead of the poor!
Clearly you'll agree with that idea. You seem to think no one in this country has gotten "rich" by hard work. They're all just spoiled trust fund babies. Sure some are, but the vast majority of the "rich" have worked for every dime.
What a capital idea! Yes, let's demonize the rich instead of the poor!
Clearly you'll agree with that idea. You seem to think no one in this country has gotten "rich" by hard work. They're all just spoiled trust fund babies. Sure some are, but the vast majority of the "rich" have worked for every dime.
Let's all try to think outside the box here; any form of demonization based on ill informed judgments and sweeping generalizations is wrong (including demonizing the rich). Why can't people just live and let live, without passing judgment on millions of people whom they do not know or understand?
Let's all try to think outside the box here; any form of demonization based on ill informed judgments and sweeping generalizations is wrong (including demonizing the rich). Why can't people just live and let live, without passing judgment on millions of people whom they do not know or understand?
I heartily agree. My above post was obviously tongue in cheek!
In a way it is a freebie. You pay tax to fund the current retirees,
...which is precisely why it's not a freebie.
Quote:
Originally Posted by celtic109
Let's all try to think outside the box here; any form of demonization based on ill informed judgments and sweeping generalizations is wrong (including demonizing the rich). Why can't people just live and let live, without passing judgment on millions of people whom they do not know or understand?
Well that's no fun.
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