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If the system is there for me when and if I reach retirement age, great. I have no issues paying into it. What I've heard my entire life though is that I will pay for it, and it won't be there for me. You can appreciate why I don't like this, right?
Then as someone said maybe it's time for a revolution and get those who don't pay taxes off the system.
Removing the cap will ultimately be how SS is :"saved" along with possibly forcing capital gains income to pay into it. The simple fact that people are always going to be paying into SS for the older generation assures its continuance politically since folks are going to be cross about paying into a system for 40+ years only to be told they don't get anything. Just look at what happens when Republicans wander into the political electric fence of social security "reform" they always fry politically.
Coal, you either accept SS as legitimate or you don't. You can't call it a Ponzi Scheme and then proclaim you're going to take what you're entitled to without implicating yourself as a criminal.
LOL, people duped or into or in this case forced into a Ponzi scheme are not criminals. It's the people that are orchestrating the Ponzi scheme that are criminals.
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Just because you got ripped off doesn't mean you're entitled to rip off some one else to get your money back.
....you are suggesting ripping off the boomers so you don't get ripped off.
Some states offer reduced real estate tax rates to seniors. Perhaps you should look into retiring to one of them. Another thought -- if you live in a good school district, your property value is higher so you are getting some benefit from paying for the local schools.
Tell me how living in a good school system is benefiting me with higher property value, since I don't have kids in the system and not selling.
LOL, people duped or into or in this case forced into a Ponzi scheme are not criminals. It's the people that are orchestrating the Ponzi scheme that are criminals.
....you are suggesting ripping off the boomers so you don't get ripped off.
I personally think SS is legitimate. I just want to see one generation -- the over indulged bratty Boomers -- forgo their benefits so the system will remain healthy for future generations (like mine).
Tell me how living in a good school system is benefiting me with higher property value, since I don't have kids in the system and not selling.
Are you ever going to sell your house? As you well know, property values are largely determined by the quality of the local schools so your investment in the local schools could pay off some day.
If the system is there for me when and if I reach retirement age, great. I have no issues paying into it. What I've heard my entire life though is that I will pay for it, and it won't be there for me. You can appreciate why I don't like this, right?
Of course I can.
Personally, I think the chances of it going away are small. The political consequences would be extreme, so I don't think they would let that happen. When the pressure is high enough they will act. The problem is so long as they see it's an issue off in the distant future they they think they won't bear the consequences of it failing, but they would feel the consequences from voters that don't like the solution. We need to step up the pressure.
Have you written to your Congressman and Senators and asked them to get off their collective butts and fix the system? That should be your first step.
I think it's generally accepted that if it's not fixed in time we may be looking at a benefit reduction of somewhere in the range of 30%. That's a big deal, but it can be avoided by fixing the system now rather than waiting. We'll all be better off with a small set of adjustments now rather than a large adjustment later.
I would say since half of the boomers at retirement age come from a households with less then 171K in assets, I would say most certainly most will need those SS checks to live off of.
This has been discussed before, but mot people will LOSE money on the SS deal. They'll get back less than they paid in, and that doesn't even take into account all the asset appreciation and interest they would have earned if that money had been invested, instead.
Too late brother -- you're money has already been spent. Why don't you do others a solid though and not take your benefits so they can keep their money instead of sending it to you?
Removing the cap will ultimately be how SS is :"saved" along with possibly forcing capital gains income to pay into it.
I doubt that will happen. People will lose even more on SS than they already do. Good luck getting voters to go for that.
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