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.
If you like your SS you can keep your SS, just let those who want out, opt out. Whats your problem with letting people make their own choices with their own money?
The real problem is when those people make stupid choices the bleeding hearts will bail them out. I do agree with you philosophically.
That's a myth .
I heard the truth that it is all being safeguarded in a SSI " Lockbox " from the same democrat who gave the truth on climate change .
So you know you can trust him .
congrats on being one of the few who understand how it operates. No money is set aside for anyone, FICA, SS and Medicare "contributions" () get dumped into the general fund as quickly as they are taken from paychecks in order to the bills of the state.
Some of it spent on bombs to blow women and children up and some of it goes to SS recipients.
C'mon Millenials and gen z'ers, work hard, have lots of productive offspring, uncle sams ponzi's need you!
Just put the equivalent of the SS 12%-13% tax into an S&P 500 index annually starting at age 20, keep working/contributing and you'll be a millionaire by retirement. Doesn't require genius level ability.
Obviously even genius doesn't do it because Trump would have
20 Billion if he was in the S&P
120 Billion if he invested with Buffet
8-12 Billion if he invested in CD's and T-Bills at the time
And yet he was at zero after 30 years of "investing".
It's always easy to look backwards and say what one should have done.....but people don't do it. For one, most people don't have an extra penny until at least 30 yo.
If said person was 30 yo at the turn of this century they would be 4.5% per year compounded for the last 20 years....not exactly millions in most cases.
In an ideal world we could all look backwards and pick out time periods and the Great Recession would not have happened, etc. etc.
But in this world we actually live in, that SS is about ALL that came through for many tens of millions of workers.
The real problem is when those people make stupid choices the bleeding hearts will bail them out. I do agree with you philosophically.
Crowd source funding, make a donation to a worthy cause, support a church, etc. there are many moral ways to help others in need.
And I have no doubt people would be more altruistic once Caesar stops taking from them for his own causes.
It will not happen. There are many seniors who would literally be thrown into poverty, who have paid into the system their whole life. Nobody, and especially nobody who has to get elected, is going to go along with it. Can you imagine the homeless population increasing even more due to seniors being on the street? Or dying due to lack of health care?
There are many many other things that could and should be cut first.
How about SSDI? That is where much of the fraud comes from. The government needs to address this first. Then many other budgets can come under the knife before Social Security and Medicare. There is military bloat.
There is Congress. They receive a pension and benefits, which the majority of workers no longer receive. Their benefits will have to be cut before they start taking away the income of senior citizens, and I think they are well aware of this.
Any advisor or official who ever mentioned screwing with SS and Medicare have found out very quickly why it is called the third rail. Even when the Tea Party was starting their Don't Tread on Me stuff and calling Dems socialists due to health care, they were also loudly proclaiming---'Don't touch my Medicare'.
They will find a way. Until all fat is cut from the budget, including farm subsidies, and other forms of income provided by the US taxpayers, nobody is going to touch SS. Trump can bloviate all he wants about cutting it. He is only hurting himself--those republicans who have to get elected and will be sticking around DC, will not support him in this.
Very true, it will not happen. It would be political suicide. Might as well just walk away. They wealthy have always made the rules & will most likely for any foreseeable future. You know the golden rule: 'The one with the most gold makes the rules'.
Seniors thrown into poverty ? I don't think so. Don't take SS from those below the poverty line.
SS would go to many homeless (who qualify). It would greatly reduce the # of street people.
Where are the fraud police ? SSDI - welfare - gov. housing - tax evasion - on and on and on. The criminal will always find a way.
Let it go bankrupt and close the books on it... No more socialist programs. I'd prefer to manage my own retirement, thank you.
Like Milton Friedman propsed...All those with accumulated entitlements are issued a bond due at 65 and equal in value to each of their present accumulations under the law, then close the books. done.
Not sure why everyones fussing over this. We're all gone in 12 years from climate change.
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.
) get dumped into the general fund as quickly as they are taken from paychecks in order to the bills of the state.
