Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Really, so you can justify people who don't contribute but live on welfare?
If that's what you believe then by the same token people should only be able to get out of any government program what they put into it. That would get rid of the dead beats welfare problem.
what in the world are you talking about and how is it even relevant to what I posted?
If you raise the income then you also have to raise what you give back in return... otherwise that is stealing... do you want to pay them more? That is not going to solve the solvency issue unless you are asking for theft...
That crossover point is just now being reached, so far as I can tell. It's possible to find ROI estimates that are all over the map depending on the precalculated bias of the analyst of course.
At this point in time (as I said), most SS is being paid at a premium to what you would expect as an ROI from an inflation corrected, risk free investment. Should that additional payment be means tested? You can make that argument.
In 20 years, you'll be right of course as the aggregate of payments falls in the lap of those retiring in 2015.
As a side note, this type of annuity is an area where gender and racial disparities favor certain groups, although you don't hear much about it. My guess is that white (or Asian) women receive more than their share, and black men much less.
That crossover point is just now being reached, so far as I can tell. It's possible to find ROI estimates that are all over the map depending on the precalculated bias of the analyst of course.
At this point in time (as I said), most SS is being paid at a premium to what you would expect as an ROI from an inflation corrected, risk free investment. Should that additional payment be means tested? You can make that argument.
In 20 years, you'll be right of course as the aggregate of payments falls in the lap of those retiring in 2015.
As a side note, this type of annuity is an area where gender and racial disparities favor certain groups, although you don't hear much about it. My guess is that white (or Asian) women receive more than their share, and black men much less.
The crossover point was 2010 for those turning 65 that year.
They will have paid in more than they are projected to receive.
And you will see a proliferation of FICA alternative jobs set up under 401a and/or 403b.
They exist today and will explode should Christie get his way.
If you raised the maximum income on which Social Security is taxed the system would be solvent for a very, very long time. In 2015 income up to 118k is subject to SS tax, I see absolutely no way to justify that, everything you earn should be subject to SS tax, just like your income is (theoretically) subject to income tax.
Social Security cannot be insolvent.
Social Security uses U.S. dollars. The United States government issues U.S. dollars ad hoc, by spending. The idea that the United States government can somehow run short of dollars to pay for Social Security is a horrific, BLATANT LIE. How on earth can a country that issues its own fiat currency, run short of that currency?
Quote:
Originally Posted by InformedConsent
Wow. No.
Most people retiring currently LOSE money on SS.
Social Security is not an investment. Social Security is insurance. You do not earn a return on Social Security. I bet you think most workers "lose money" on unemployment as well.
At this point in time (as I said), most SS is being paid at a premium to what you would expect as an ROI from an inflation corrected, risk free investment.
No, it isn't. The AP article I posted clearly explains that it isn't. Only low-income earners get more in SS benefits than they've paid in SS tax.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
