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Message
re: Joe really touched some nerves
Posted on 2/8/23 at 5:53 am to DavidTheGnome
Posted on 2/8/23 at 5:53 am to DavidTheGnome
quote:
Push back retirement age and / or means test.
I totally agree, despite the fact that it would directly, negatively impact me.
Frankly I’m shocked that the MAGA on this board disagrees.
2
Posted on 2/8/23 at 6:03 am to GusMcRae
quote:
totally agree, despite the fact that it would directly, negatively impact me. Frankly I’m shocked that the MAGA on this board disagrees.
It’s not difficult to understand. Like at all.
Imagine the government is your neighbor. They start buying new cars, then boats, put in a pool, etc…the spending keeps increasing, they are borrowing all of this and cashing out equity in their house. In order to pay for this, they erode their own savings and now start to dip into their kids college savings.
Your neighbor comes to you and asks for your financial advice, and maybe even a little cash until next month. Do you address how they are paying for all of these things, or do you question why they are buying them in the first place?
TLDR - we have a spending problem, until we address what we are paying for we shouldn’t be focused on how we are going to pay for it.
This post was edited on 2/8/23 at 6:05 am
Posted on 2/8/23 at 7:40 am to GusMcRae
quote:Do they?
the MAGA on this board disagrees.
The basic problem and source of frank disagreement is the OP has no idea what SS is. In typical cases, it is not a "payout" or "benefit." It is repayment on a loan provided by taxpayers and employers to the Government.
ROI on the loan is atrocious. It is far and away the cheapest borrow Uncle Sam has at his disposal. That is one reason individuals are not alternately allowed to buy US Treasuries in a retirement account in lieu of SS. The federal cost of borrow would be far higher.
Understanding that is crucial to understanding why SS ain't going anywhere. "Retirement age" might get pushed back in 2040 or so, but SS will continue, even in deficit. Because, d/t structure, SS is a federal debt, repayment is almost certainly Constitutionally protected for >55y/o's with years of forced participation.
This post was edited on 2/8/23 at 7:41 am
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