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That 2-3% is a false statement. The bush plan called for workers to contribute up to a 3rd of SS payroll taxes towards a Wall Street investment fund. Workers paid 6.5% in payroll taxes, employers paid 6.5% into the SS trust pund through payroll deductions.
In the 2008 crash when the market went from 14,000 down to 6,000, losing 1/3rd of SS funds would have essentially wiped out the entire system.
Point is that even if someone earned nothing or lost 90% they would still have more of their retirements in a private area than exist today since the Government robbed all the money they were supposed to invest for us. GOT IT?
The only reason Government is preferred is that after they steal the money they get OTHER taxpayers to be responsible for the theft in new liabilities and taxes so a current generation can get their SS.
That little scheme is fast drying up and will not be able to be happening to much longer.
We are well beyond broke.
Obama caused us two downgrades which never happened before in history.
We are not in good shape as a country.
We made a mistake and picked the ObamaPhone, welfare, affirmative action President instead of a real one for the times that was needed.
I'm sure the left wants it to come from the 'rich'. There isn't a wealth redistribution plan they don't support.
SS is nothing but another tax. A very heavy tax.It is NOT a retirement savings plan.
Its the rich that cooked up this plan, son. See whatcha do is create a "retirement fund". Then you "invest" it in Treasuries. Its regressive tax slight of hand that allows da guberment to spend as if it were getting tax revenue. Then there is the employer pays half slight of hand which is totally baked since employers simply hire based on total cost. Its a regressive tax, son. So what ever the "lefties" plan on cooking up they are way way behind. Its a joke really, son. Ya see da guberment has a tax on the rich that they don't even pay called capital gains which is tax differed. So you can do fun stuff like buy back stock. Other fun you can have is to borrow against capital , offset gains with past losses etc. Can workers offset being unemployed last year? Nope.
Pay as you go is all that is needed. It does not need to be invested in anything.
The whole issue folks here and elsewhere is our government and how they squander our tax dollars then retire unaccountable for the damage they do.
How do we limit out government in size and restrictive spending and how do we make them stop stealing in one area to give it away in another area to get elected?
I just noticed " Pinal County"....no wonder you're coming up with this nonsense.
I have no idea what "Pinal County" has to do with this discussion other than perhaps its a veiled attempt to spin
I am by far NOT the only person in America to do what I have done / am doing. Not by a long shot. Not only can I not get SS, I cannot get Medicare as well.
OBTW - MANY do not file for benefits at 62. They wait until 65 or 67. At 62 your benefits are WAY reduced.
Right-wingers don't believe in Medicare and Social Security in the first place. Being liars and cowards by nature, they lack the guts and integrity to just state that they don't like these programs and want to do away with them once and for all. Instead, they lie and say that they wish to "protect them."
I have no idea what "Pinal County" has to do with this discussion other than perhaps its a veiled attempt to spin
I am by far NOT the only person in America to do what I have done / am doing. Not by a long shot. Not only can I not get SS, I cannot get Medicare as well.
OBTW - MANY do not file for benefits at 62. They wait until 65 or 67. At 62 your benefits are WAY reduced.
Because its the quacks in this states rural counties that give my homestate a bad name...and Pinal is right up there with such nutcakes as Greenlee, Yavapai, Mojave, and Apache counties. Not that my present home county of Cochise is any better. These idiots are no less out of their minds too.
And I know that not all collect at 62...my dad just turned 67 and just started collecting.
The whole issue folks here and elsewhere is our government and how they squander our tax dollars then retire unaccountable for the damage they do.
How do we limit out government in size and restrictive spending and how do we make them stop stealing in one area to give it away in another area to get elected?
The first thing to understand is that there is no such thing as no government. The tsar of Russia was traditionally seen as the protector of the people against the boyars. They both had the same enemies. Remove the Tsar and the government would just shift to the boyar. When Domitian was the emperor of Rome, the commoner actually found some relief. Despots, as had been noted by political philosophers actually protect the ordinary people, even if the upper classes are in peril. However so is the despot who is often a prisoner of the palace.
The Americans learned one lesson from Vietnam: don't count the civilian dead. As a result, no one knows how many Iraqis have been killed in the five years since the invasion. Estimates put the toll at between 100,000 and one million, and now a bitter war of numbers is raging. Jonathan Steele and Suzanne Goldenberg report
Something no Americans seem to understand is also something very dangerous to the rest of the world. Dictators protect too.
So for example if my neighbor is powerful and he is my enemy, what will "freedom" mean? It will mean my enemies are free.
Some ghettos want to be free from the police.
Is this too much government?
Maybe the wrong kind I'll grant you that, but I think it certainly lacks the right kind of government.
So see the problem you conservatives have is that people don't think giving their land lord more freedom is going to free them. They think the opposite. So just like the peasants in Russia they side with the central government.
This is why this idea that freedom is some sort of linear continuum from 0% freedom to 100% freedom is false. Its also the model it seems most Americans use. Its more like a web of freedom. If the class over me becomes more free, I may lose while the natural alley is the class above them.
So how do you make the class beneath you your alley instead of your enemy? I am trying to answer it myself, but I believe that making rivals of the ruling class is the best route. That is why less government isn't really the answer because all it will mean perhaps is the financial oligarchs will just drop into place. However they also find it easy to corrupt our federal government. So the best answer is the shift to state power.
One thing I would propose is to make federally subsidized programs illegal. I'd also like to see state charted banks with strict rules on what they fund like 60% majority referendums and in state project only. This would shift power to the states.
Because its the quacks in this states rural counties that give my homestate a bad name...and Pinal is right up there with such nutcakes as Greenlee, Yavapai, Mojave, and Apache counties. Not that my present home county of Cochise is any better. These idiots are no less out of their minds too.
And I know that not all collect at 62...my dad just turned 67 and just started collecting.
I opted out of SS YEARS ago (Look it up on how you can do it) and have been doing essentially what Mr. Ryan has proposed (not exactly but essentially). I'm getting far more benifits than social security would ever pay me.
One other major benefit with getting rid of SS: I can transfer the accounts to my heirs - I cannot do that with SS.
How did you do it?
I did a search and found a couple of articles that made it sound like only certain folks could opt out. People like:
Clergy
Federal employees
Workers in some states
Other than that, this article says "However, that's it. If you're self-employed or work for a private company, you must pay into Social Security, Copeland says."
I called a couple of tax lawyers and a coupls of CPAs that I know and they said you could never opt out unless you are a public employee in some states or in the clergy. They said that anyone who says that they dropped out is full of BS. One of the lawyers has been practicing for over 40 years and one of the CPAs has practiced for over 35 years.
actually you can. if you have a TIN instead of a SSN, you still pay the social security TAX, but you just dont get to get it when you get to retiring age.
also another way to never pay the TAX nor ever get the payments is to never get a social security number. I know more than just a couple of people that do not have a goverment id number. my daughters all dont have any socialized security numbers.
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