Boomers Aren't The Ones Taking Most Out Of SS

[markg91359]

Originally Posted by BugsyPal

There was no "had" about it; but rather as what is usual for Congress the SS trust fund was seen as a convenient piggy bank to raid that not even Obama could refuse. Only other option was direct funding from the treasury but that is taking more taxpayer money and giving it to SSDI fund.

I hear this all the time and it makes as little sense now as it did the first time I heard it.

Any money taken from the SS trust fund is borrowed. It must be repaid to the fund with interest.

No investment is as safe in this country as a US government bond.

Social security has problems, but most people refuse to acknowledge the real ones. The aging of the population is creating a situation where there will be too few people working and too many claiming benefits if nothing is changed. The solutions are obvious, but too painful for many people to be willing to think about. Employment taxes need to be gradually increased. Minimum retirement ages need to be raised.

Ranting about Congress stealing social security money is not only incorrect, it wouldn't change anything even if were true. What exactly is your solution even if you think Congress diverted this money?

[BugsyPal]

Originally Posted by markg91359

I hear this all the time and it makes as little sense now as it did the first time I heard it.

Any money taken from the SS trust fund is borrowed. It must be repaid to the fund with interest.

No investment is as safe in this country as a US government bond.

Social security has problems, but most people refuse to acknowledge the real ones. The aging of the population is creating a situation where there will be too few people working and too many claiming benefits if nothing is changed. The solutions are obvious, but too painful for many people to be willing to think about. Employment taxes need to be gradually increased. Minimum retirement ages need to be raised.

Ranting about Congress stealing social security money is not only incorrect, it wouldn't change anything even if were true. What exactly is your solution even if you think Congress diverted this money?

Just where do you think federal government gets the money to repay those "loans" with interest? It either must be borrowed or come from the treasury (general revenue) which means tax dollars. So people who've paid into SS are getting hit twice, once as part of payroll taxes, then again when Uncle Sam reaches into their back pocket.

[mathjak107]

Originally Posted by BugsyPal

Just where do you think federal government gets the money to repay those "loans" with interest? It either must be borrowed or come from the treasury (general revenue) which means tax dollars. So people who've paid into SS are getting hit twice, once as part of payroll taxes, then again when Uncle Sam reaches into their back pocket.

It is no different then anyone here who buys bonds or bond funds ..where do you think corporations get the money to pay you interest on their bonds ....they charge you the customer , that is where ..the financing costs are built in to the prices they charge .

The govt is free to do as it pleases with any money they borrow and issue bonds .. bonds are the only thing ss can buy ...the govt is not allowed to own public corporations so they can’t buy stocks