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You might want to include boomers as well. They are just starting to hit 65 this year.
No way is there enough SS for the largest generation to start retiring.
NO one has ever missed a SS check. It is solvent until 2037...and I regularly cash my comfy SS check with no problem....and will quit receiving it(die) long before 2037.
The Repugs are , AGAIN, using scare tactics to get their hands on SS money to invest it with their cohorts on Wall Street...to pilfer the money average Anmericas invest in their future so that the wealthy can get wealthier....
Try looking up facts and the Repugs won't be so scary....
If I were "benevolent dictator for life", I'd order the return of all monies taken from social security be returned with interest. That should stabilize it for another 20 or 30 years. To make up for the defecits that would cause I'd cut spending on social programs big time. have a time limit for welfare, say 3 or 4 years depending on a persons ability to work. Anybody on public assistance would have to clean the streets, clear brush, clean up grafiti, etc. I would still have food stamps available but no money allowances.
This would be a huge boon for churches who run charities. People would be in the pews again, thats for sure.
I love how people can rationalize taking social security because they have paid in for so long, and would fight for the money they expect from it after paying, while rationalizing at the same time that those in younger generations shouldn't expect this "entitlement" because it wasn't a guarantee. They completely ignore the statements people in younger generations get as well that state "You have paid in X amount, here is your monthly expected payment based on this number".
I love how people can rationalize taking social security because they have paid in for so long, and would fight for the money they expect from it after paying, while rationalizing at the same time that those in younger generations shouldn't expect this "entitlement" because it wasn't a guarantee. They completely ignore the statements people in younger generations get as well that state "You have paid in X amount, here is your monthly expected payment based on this number".
What should be done is just end the program - but pay back those who already put their money in. Instead of paying so-called refugees from other countries huge money to come here and live the good life -- and the government seems to have billions of dollars for that, just give Americans back our money.
This is an interesting article on the subject.
next-in-line-for-a-bailout-social-security: Personal Finance News from Yahoo! Finance (http://finance.yahoo.com/focus-retirement/article/108747/next-in-line-for-a-bailout-social-security?mod=fidelity-readytoretire - broken link)
For about 50 years the US and the USSR spent TRILLIONS building for a war BOTH governments KNEW was NEVER going to happen.
Many of our modern conveniences can be directly or indirectly attributed to the war machine.
Many of those conveniences came from research universities. Not really directly attributed to the "war machine". In fact, most conveniences are not directly attributed to the "war machine". The internet...not from the "war machine". Most medicines, nope. Cell phones...not really.
War typically is not a good innovator. War is good for repurposing existing tech for war.
Why are gen X's lumped into this? I find that it's the Y's that believe we need to serve them-and they are entitled tot hat 100K job right out of college.
What?! Great misconception. I think that we shouldn't be in 100k in debt working 30k a year after college. Nobody I know thought about making 100k right out of college. In fact, we all realized that poverty will be a long road.
However thanks to the credit industry, we can borrow more in order to have the same lifestyle that our parents had, except with more debt and less assurance of stability. The American Dream: a precarious middle class saddled with debt.
What should be done is just end the program - but pay back those who already put their money in .
You couldn't just end it, you would have to ramp it down over a century with people still paying into the system who could expect less and less benefits.
You couldn't just end it, you would have to ramp it down over a century with people still paying into the system who could expect less and less benefits.
SS would actually be quite easy to save. The key is to get benefits into line with contributions. Scrap the disability boondoggle and the spousal benefit. Stop or restrict survivor benefits. Base the max benefit on 45 years of earnings, not the current 35.
The only people who would be affected by those changes are ones who don't pay their fair share into the system.
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