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re: Social Security and Medicare will be Insolvent in the 2030s
Posted on 10/5/23 at 3:56 am to Lou Pai
Posted on 10/5/23 at 3:56 am to Lou Pai
SS is basically a Ponzi scheme
Anyone born after 1972ish is likely to see a very reduced version of SS than what is being offered today or none at all.
Anyone planning on SS is a fool.
It’s never too late to start saving for retirement. Even a little bit a month adds up compounding over the years. Don’t be stuck depending on federal government for your retirement it will end in disaster.
You can tell the people who have no retirement savings and are planning to depend on federal government by the downvotes
Anyone born after 1972ish is likely to see a very reduced version of SS than what is being offered today or none at all.
Anyone planning on SS is a fool.
It’s never too late to start saving for retirement. Even a little bit a month adds up compounding over the years. Don’t be stuck depending on federal government for your retirement it will end in disaster.
You can tell the people who have no retirement savings and are planning to depend on federal government by the downvotes
This post was edited on 10/5/23 at 5:50 am
Posted on 10/5/23 at 4:48 am to Lou Pai
So this thread starts out talking about a valid subject, then, because the OP is a Ron Bot, devolves into trashing Trump and Gaetz.
What’s next? The potholes in your neighborhood are their fault too?
What’s next? The potholes in your neighborhood are their fault too?
Posted on 10/5/23 at 5:12 am to Lou Pai
When they give it to millions of illegals that have not paid anything into it what do you think is going to happen to it.
Posted on 10/5/23 at 5:25 am to ronricks
If they would let me opt out today and keep my money from here on to put into my private retirement, I would sign a document and completely walk away from this crap. Never going to get remotely close to the value it would be if I invested it privately over the same amount of time.
Posted on 10/5/23 at 5:52 am to Scrowe
Hell I’d take half my SS contributions to this point and walk away and be happy. I’ll never see a dime of SS and I’m fine with that as I have planned for it.
Posted on 10/5/23 at 6:27 am to ronricks
quote:The thing separating SS from a straight-up ponzi is the 14th Amendment. Every contribution you've made to SS has been immediately transferred to a US debt obligation. So the odds heavily lean to you seeing SS in some form.
I’ll never see a dime of SS and I’m fine with that as I have planned for it.
It's just important for folks to see SS for what it is. It is Uncle Sam borrowing your money, holding it for 40yrs, then returning it to you incrementally at a terrible interest rate under the auspices of a "benefit."
Posted on 10/5/23 at 6:46 am to Lou Pai
quote:
This is why Matt Gaetz's fake fiscal conservativism rings hollow and I can't take him seriously.
You make a post about arguably the most significant problem this country faces and illustrate it with a graph that clearly shows the problem goes back half a century only to use it as a springboard to attack Matt Gaetz…
I think the more prudent takeaway is that this problem is the result of decades of bipartisan policy making by a political class that has utterly failed to address our most pressing and significant problems. They pay lip service during elections and then govern the same as always, failing to make any tough decisions to actually remedy our most existential issues. And yet you all piss and moan that a status quo Speaker gets removed from office as if he was just on the cusp of addressing ANY of these issues in ANY meaningful way.
The problem is that the electorate are useful idiots who allow themselves to be jerked around by absolute bullshite peddling politicians
Posted on 10/5/23 at 7:25 am to ronricks
quote:
You can tell the people who have no retirement savings and are planning to depend on federal government by the downvotes
Has nothing to do with "depending" on the federal government. It's money taken from and promised to workers. Why shouldn't people expect and "depend" on it? To not demand it would be the foolish part.
Posted on 10/5/23 at 7:27 am to Veritas
If you had taken the money taken out of your check and invested it a IRA you would have received 4 times what your SS account will ever be worth.
Posted on 10/5/23 at 7:45 am to NC_Tigah
quote:
So the odds heavily lean to you seeing SS in some form.
Yes a significantly reduced sum that likely won't even cover internet. utilities, and any other monthly bill by that point. Dollar is losing buying power every year that goes by. Welp.
Posted on 10/5/23 at 7:48 am to shutterspeed
quote:
Has nothing to do with "depending" on the federal government. It's money taken from and promised to workers. Why shouldn't people expect and "depend" on it? To not demand it would be the foolish part.
Again, the foolish part is relying on or depending on federal government 'promises'. That is just stupidity when you have other ways to prepare/save/allocate for retirement. Our government can't even deliver something as simple as a piece of mail to me in a timely and cost effective manner yet you want to be beholden to them for retirement and healthcare? You are an idiot. No other way to say it.
This post was edited on 10/5/23 at 7:50 am
Posted on 10/5/23 at 7:49 am to Lou Pai
No they won’t. More money will be stolen from us to pay for it. I wish they’d do away with both.
Posted on 10/5/23 at 7:51 am to Lou Pai
Remember folks, the Social Security - Medicare taxes you're paying are now funding Ukraine's military and civil service employees. How? All the money you pay for S/S Medicare goes into one big pot. Thanks to Joe Biden and his crooked pals, it's all income revenue to the bureauacrats in Washington.
But it's not a total disaster, prominent American politicians are at this moment relishing the flow of kickback money from the warmongers. They live in gated communities while you struggle to pay for groceries and gas for your car.
That's why they loath Donald J. Trump. President Trump is an 'America First' proponent and his policies are designed to help traditional American families. The same families these wacko/perverts in the Biden fake government love to hate.
Joe Biden schemes for war and profit. Donald Trump schemes for Peace and Prosperity.
But it's not a total disaster, prominent American politicians are at this moment relishing the flow of kickback money from the warmongers. They live in gated communities while you struggle to pay for groceries and gas for your car.
That's why they loath Donald J. Trump. President Trump is an 'America First' proponent and his policies are designed to help traditional American families. The same families these wacko/perverts in the Biden fake government love to hate.
Joe Biden schemes for war and profit. Donald Trump schemes for Peace and Prosperity.
This post was edited on 10/5/23 at 9:41 am
Posted on 10/5/23 at 7:58 am to Zarkinletch416
quote:
Because all the money you pay for S/S Medicare goes into one big pot. Thanks to Joe Biden and his crooked pals, it's all income revenue to the bureauacrats in Washington.
You realize every single Presidential Administration since LBJ has dipped into this pot of money you are talking about? It's not just Democrats. Its all of them regardless of political affiliation and spare me the Trump bullshite he spent Trillions recklessly during his 4 years he wasn't a fiscal conservative quite the opposite.
Posted on 10/5/23 at 8:10 am to Lou Pai
Government has used the SS Trust Fund as a blue light special for borrowing for decades. Borrowing at rates well below the rate of inflation isn't a "lock-box," it's a bilking scam.
Posted on 10/5/23 at 8:17 am to Lou Pai
quote:
We are barreling headfirst over a cliff and it seems like no one cares about advocating for solutions like gradually raising the retirement age, etc.
How is that a solution? The solution is
a) Stop giving people that didn't contribute, SS and Medicare.
b) Make SS an elective. If i know i won't see a dime of what i put forth, why the frick must i keep paying into the system?
c) Rather than raise the age, why not CUT frickING SPENDING from other departments and send it to SS payments?
I hate the US federal government. They serve no purpose than to enrich the bureaucrats and let them play masters of the universe. They do not serve the people. They play God over the people.
Posted on 10/5/23 at 8:20 am to frogtown
Disclaimer: I want government funded retirement gone. The government shouldn’t be involved in anybody’s retirement.
If the government is going to redistribute wealth (and again I’m not a marxist and don’t believe they should) then there should be no cap.
But if the government is going to exclude people from benefiting, then don’t take their money.
quote:
The Democrats want to remove the cap. I believe it is around 160K now.
If the government is going to redistribute wealth (and again I’m not a marxist and don’t believe they should) then there should be no cap.
quote:
They also want a net worth limit. So, for instance, if you have a net worth of $5 million or more at retirement you would not be able to draw SS.
But if the government is going to exclude people from benefiting, then don’t take their money.
Posted on 10/5/23 at 8:26 am to LemmyLives
Easy fix. Make sure you order the next batch of COVID to kill off anyone who is 65 and older. If no one is alive to claim benefits, you solve your money problem.
Posted on 10/5/23 at 8:30 am to Lou Pai
Perfect timing for me! ????????????
You guys keep working hard!
You guys keep working hard!
Posted on 10/5/23 at 8:31 am to ronricks
I am 64, the ss benefits if retired today
$1700, if I work till 70 then i get $3500
that is barely enough to pay taxes in harris co.
as far as "other retirement"
and 3 company buyouts, and their "sus" handling of 401ks,
and co stock that dropped like a rock, costing another $40-60% of the investment, well
It left me with nothing after 45 years of working my arse off in decent jobs. I almost broke even with my contribs, but the co's contribs were eaten in losses
I would have made more money buying unopened boxed hot wheels cars for 40 years.
and I admit some is my fault for not learning to stock trade, but how many other skills do you do to just survive?
so much for fiduciaries having "your interest" in mind
but, I guess I will work, and hope death takes me before I can't work
seriously, f'k this planet
$1700, if I work till 70 then i get $3500
that is barely enough to pay taxes in harris co.
as far as "other retirement"
and 3 company buyouts, and their "sus" handling of 401ks,
and co stock that dropped like a rock, costing another $40-60% of the investment, well
It left me with nothing after 45 years of working my arse off in decent jobs. I almost broke even with my contribs, but the co's contribs were eaten in losses
I would have made more money buying unopened boxed hot wheels cars for 40 years.
and I admit some is my fault for not learning to stock trade, but how many other skills do you do to just survive?
so much for fiduciaries having "your interest" in mind
but, I guess I will work, and hope death takes me before I can't work
seriously, f'k this planet
This post was edited on 10/5/23 at 8:37 am
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