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This is a myth. From the very beginning, Social Security was designed so that current earners would pay taxes that would support the benefits of current beneficiaries. How could it ever have been otherwise?
That said, there have only been eleven years in which the amount paid into the trust fund has been less than the amount paid out. The most recent of these years was 1981.
For those who don't know, let me say that what was not spent on beneficiaries was considered surplus by Congress and spent on "pork" and other things that allowed them to not create a trust fund for later. The Congress has actually been pulling a Robin Hood trick on us all these years, since the early 50s. I wonder how many trillion dollars could be accumulated in the next few years if they stopped that practice. The thing isn't dead, yet, but if they don't get their fingers out of the fund it will be soon.
[quote=GreenGene;11214051]Perhaps I'm in the minority then - I don't see how we "made war" on the elderly. I don't see our society's treatment of seniors as being one of deliberately inflicting harm.
Gene, I have to disagree with this statement in that we see the old people having their Medicare withholding from their SS checks raised this year without a raise of the amount of the checks. Along with that I see the Congress planning to take over $50 billion from that same Medicare to help fund their attempts at getting to single payer health insurance. Hell, they are even planning to take that money out for 3 or 4 years before the real program gets started. I say that they are getting to single payer on the backs of the elderly.
[quote=roysoldboy;I say that they are getting to single payer on the backs of the elderly.[/QUOTE]
Well, whatever it takes as long as it gets the job done. And if there's any problem with that, there's always the "Die...and Die quickly" alternative.
At a time in our country where families with children are living in tents reminiscient of Hoovervilles of yesteryear, in cars, under bridges, in abandoned buildings, shelters and if they're lucky, flea bag motels, you aren't going to get much sympathy from me. Most people today are glad to have a job, many have taken deep cuts to keep their jobs, not everyone is getting a raise. As it stands, SS will be insolvent in a few decades and Medicare in less than a decade.
PA state lottery gives most of their profits to programs for the elderly. Various states discount or freeze the property taxes of the elderly, provide free furnaces, A/C's, refrigerators, appliances, vehicles, free bus rides, etc. Various states give heating and cooling discounts to the elderly. There are many more examples of the programs that various states have set up for the elderly. In the meantime, people my age are sandwiched between raising children while taking care of the elderly (some who have dementia and need 24/7 care).
These "aged" aren't crying; they seem to be living high off the hog (err...I mean, high off the taxpayer money): http://abcnews.go.com/2020/Stossel/s...7522306&page=1 - please click on the video. It might be quite maddening to see for some.
P.S. - I am editing to say that the real culprits are the politicians and leaders who sold us out to Corporate America - the holding company for unadulterated greed and corruption.
Furthermore, the Ponzi scheme that we've all been forced to contribute to will be coming to an end in 20 years or less. All of us who are not retirement age yet (but are middle-aged) might get something from SS for a few years. I think that Medicare will be completely broke in 5-10 years. According to Dr. Timothy Johnson, Alzheimer's alone has the very real power of completely bankruptcy Medicare in the next few years as the disease takes on epidemic proportions.
The real victims are the youth of America who are forced, like everyone else, to contribute a significant part of their pay to both of these programs - both of which will be insolvent without a doubt by the time they are old enough to draw from either.
PA state lottery gives most of their profits to programs for the elderly.
This is a fallacy. The lottery is a big scam, and any money they give out the government takes away from the program. Whenever the lottery says it gives money to schools it's the same way.
Some will say "atleast the government (taxpayers) don't have to pay for it", but we know the politicians will find other ways to pi** away our money.
I get your point, but it's not "suppose" to be redistribution. It's "suppose" to be they take your money now then pay you back later. You are "suppose" to get back what you put in with interest. Now, when they take the money from you up front they distribute it to the needy. That's the way it's "suppose" to work. Unfortunately we are forced to give our money to a bunch of 5 year olds.
I personally do not like the system, but if you don't give them your money they'll come and break your legs (figure of speech, I don't mean it literally).
I guess this goes back to the original post of the young waging war on the old.
When do you become old? Being 40 I'm starting to get worried? Where do I belong?
I am your age, and I am saving aggressively because I do not believe the govt will send me checks every month when I retire. I have also admitted the harsh reality that retiring in US is not be a realistic goal due to cost of living vs money saved. It simply won't be possible to save enough money to retire here comfortably. It's a shame because I have been saving all my life. I have researched the central American countries and I think Panama looks like a possibility. There are towns in the mountains and the coasts of Panama with tens of thousands American retirees.
This is a fallacy. The lottery is a big scam, and any money they give out the government takes away from the program. Whenever the lottery says it gives money to schools it's the same way.
Some will say "atleast the government (taxpayers) don't have to pay for it", but we know the politicians will find other ways to pi** away our money.
Well, then the people who live in PA are a bunch of liars as well as the various websites that say the same thing. Hey, I don't doubt that wasting money playing the lottery (or gambling - period) is not a big scam. Still, the money from PA's lottery earnings do go for programs for the elderly. How it's managed, what they get is a different story. Also, from what I understand, PA has the country's third largest population of senior citizens because there are so many freebies for them. Let's take from the young who are raising families while working two and three jobs so that SOME elderly, who are already very well off, can get their freebies and load up their bank accounts. Again, I said, "some", not all.
Do you mean to say that you agree with privatization? There really was something about Bush and his ideas you approved of? I can't do that on GT either.
Yes, I did support it as a matter of fact, although the proposed caps were so low that it wouldn't have made much difference.
It wasn't Bush's idea though, because such accounts have been in use in EU for years.
I am your age, and I am saving aggressively because I do not believe the govt will send me checks every month when I retire. I have also admitted the harsh reality that retiring in US is not be a realistic goal due to cost of living vs money saved. It simply won't be possible to save enough money to retire here comfortably. It's a shame because I have been saving all my life. I have researched the central American countries and I think Panama looks like a possibility. There are towns in the mountains and the coasts of Panama with tens of thousands American retirees.
I know many people including my mother have been talking about becoming expatriates. It may not be such a bad idea.
I know many people including my mother have been talking about becoming expatriates. It may not be such a bad idea.
No, it should not be too bad if you find a place where there are a lot of Americans already, as there are in Panama. Then you will feel at home. Also, the Panamanians are friendly and pro-US and apparently their government offer all kinds of perks for US retirees in order to lure them to move in. And they use US Dollar for currency.
Because, for the most part, the elderly do not work. They retire and sit on their butts all day, while the rest of us DO the work.
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