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Started By
Message
re: Ben Shapiro's plan for fixing SS is for everyone to work until they die
Posted on 3/26/24 at 4:15 pm to Bjorn Cyborg
Posted on 3/26/24 at 4:15 pm to Bjorn Cyborg
quote:
It was never meant for a healthy 62-year-old to retire and soak up payments for 30-plus years.
The average life expectancy is 77.5 years
For someone my age full SS benefits kick in at 67
That would be 10 years, not 30
1
Posted on 3/26/24 at 4:20 pm to Taxing Authority
We do nothing year after year to fix SS. Just keep kicking that can down the road. But every year we send millions all over the world. SS is not a handout. Many senior rely on this income and it needs to be made solvent.
Posted on 3/26/24 at 4:21 pm to Powerman
quote:
The average life expectancy is 77.5 years
For someone my age full SS benefits kick in at 67
That would be 10 years, not 30
That's not quite how life expectancy works, though. The average FROM BIRTH is 77.5 years (I guess, looking at the table I linked, that would be men and women combined). However, by the time you hit 67, an American male has a remaining life expectancy of about 16 1/2 more years, while a woman has one of about 18.
Here: LINK
Posted on 3/26/24 at 4:24 pm to Y.A. Tittle
16 is still significantly less than 3 decades
Posted on 3/26/24 at 4:30 pm to Powerman
He's a lawyer? Like I needed another reason not to like him.
Posted on 3/26/24 at 4:41 pm to Y.A. Tittle
quote:
That's not quite how life expectancy works, though.
Just came here to post that. And you can begin taking Social Security at 62, at which point you have an expected 20 more years of life left.
And 25 percent of people live into their 90s.
Posted on 3/26/24 at 4:44 pm to Bjorn Cyborg
quote:
Just came here to post that. And you can begin taking Social Security at 62, at which point you have an expected 20 more years of life left.
But you're taking a lesser amount than if you reach full retirement age
And it's not like you're a leach. You paid into the system.
Posted on 3/26/24 at 4:49 pm to Powerman
quote:
But you're taking a lesser amount than if you reach full retirement age
And it's not like you're a leach. You paid into the system.
1. So. Taking less early, could mean you actually collect more over time, depending on how long you live. It's just actuarial tables.
2. No one said you are a leach. You paid into the system, you deserve it. But that doesn't change the fact that it was never meant for that purpose. It was meant as a safety net to prevent indigent seniors.
Posted on 3/26/24 at 5:13 pm to RockyMtnTigerWDE
quote:
Step dad and my mom traveled a lot by motorhome with their dogs
This is how I want to retire. Not being lazy, but doing new, interesting, and fun shite.
Posted on 3/26/24 at 5:59 pm to Powerman
That’s basically what life in America is like now. Once you stop contributing, whether it be due to age or handicap, you’re fricked unless you’re either rich as shite or have nothing at all.
Posted on 3/26/24 at 6:07 pm to Powerman
quote:I thought that was pretty damn clear. What do you need help with? Are you saying Congress cannot make changes to SS at its whim?
So your official stance is that SS contributions don't constitute an earned benefit once you hit full retirement age?
Posted on 3/26/24 at 6:16 pm to Powerman
Why not and if you make over 250k you can pay zero taxes like the billionaires
If below you can pay it all
If below you can pay it all
Posted on 3/26/24 at 7:25 pm to Powerman
It is a 22% tax imposed on every private company worker, 11% paid by the worker and the same by the employer. Most of my life I never dreamed there was any way out of it and it damn sure factored into my retirement planning. If the government (meaning The People) don't want to pay me my benefit they can cash me out with a payout of my and my employer's total contribution with the prevailing interest that the average investments would have returned.
Personally I think it is a great idea to let younger people to opt out now and have a mandatory contribution in the same format (i.e. 22% shared by employee and employer) into an IRA or similar investment portfolio. But one this SocSec is that that would not be is a disability insurance which unfortunately has been greatly abuse, that is one huge problem with SocSec, the malingerers collecting a disability pension. I bet most who read this know someone like that.
Personally I think it is a great idea to let younger people to opt out now and have a mandatory contribution in the same format (i.e. 22% shared by employee and employer) into an IRA or similar investment portfolio. But one this SocSec is that that would not be is a disability insurance which unfortunately has been greatly abuse, that is one huge problem with SocSec, the malingerers collecting a disability pension. I bet most who read this know someone like that.
Posted on 3/26/24 at 7:29 pm to Powerman
You are criticizing him for making the most obvious point in the world. Social Security was designed to get people through about the last five years of their lives. The life expectancy has increased. The system can’t support people for 20 years. And today, most people are perfectly healthy and able to work when they reach 65.
Posted on 3/26/24 at 7:30 pm to JayDub
quote:
It is a 22% tax imposed on every private company worker, 11% paid by the worker and the same by the employer.
What? Where are you getting those numbers from?
Posted on 3/26/24 at 7:36 pm to LSU Patrick
SS is a scam
So the 130k I paid into it and the 170k my employer paid into it , should go back to you and the tax payer?
Gotcha
So the 130k I paid into it and the 170k my employer paid into it , should go back to you and the tax payer?
Gotcha
Posted on 3/26/24 at 7:39 pm to Powerman
He's Jewish, of course he wants the whites to work forever.
Posted on 3/26/24 at 7:53 pm to Powerman
quote:
What? Where are you getting those numbers from?
11% from your pay and you may not know this but your employer pays a matching 11%! 11+11=22!
Posted on 3/26/24 at 7:58 pm to JayDub
OK, gotta eat some crow. 6.2% paid by the employee and the same by the employer. Then there;s the medicare tax on top of that but the total is less than 11% (edit:)from the employee that is
This post was edited on 3/26/24 at 7:59 pm
Posted on 3/26/24 at 8:19 pm to Taxing Authority
quote:
What he's saying is the government doesn't own you an income just because you're old.
Except the part where my neighbors that work in govt took my money at the end of the gun, you mean? Because thats a HUGE part of 'the government' owing me that money
HUGE
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