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Posted on 5/7/24 at 7:55 pm to Geekboy
They will increase the retirement rate age from 67 to 69 to restore solvency.
Posted on 5/7/24 at 8:04 pm to frogtown
quote:SS includes the TF. It is currently $2T in surplus. If things remain unaddressed, the first SS deficits will occur next decade.
SS is running a deficit right now. The trust fund will be depleted in 2035.
Posted on 5/7/24 at 8:14 pm to Bass Tiger
quote:Did you work 100 years x 2?
I have the sensible solution.....the federal thieves can cut me and sweetie a check for $1.5-2 million and we're even.
Posted on 5/7/24 at 8:20 pm to narddogg81
Pay into it for 40 years and see how you feel then.
Posted on 5/7/24 at 8:23 pm to narddogg81
quote:
let it end.
First of all, it ain't ending.
Second of all, you are a lying pos. ANYONE that paid into SS their entire life, would not just say the hell with it. People like you....
Posted on 5/7/24 at 8:29 pm to Diamondawg
quote:
Did you work 100 years x 2?
Hey genius, even going very conservative assuming $350 a month contribution, over 40 years, with a 9% interest (average decent mutual, many are much higher long-term) would yield roughly $1.5M.
Posted on 5/7/24 at 8:29 pm to Penrod
quote:
Everything we have paid Ukraine would not pay social security benefits for two months.
Now add up all the other bullshite spending over the last 50 years. Stop it now and I'll bet that shite builds up quick.
Posted on 5/7/24 at 8:30 pm to Diamondawg
quote:
quote:I have the sensible solution.....the federal thieves can cut me and sweetie a check for $1.5-2 million and we're even.
Did you work 100 years x 2?
Worked 47 years, wife still working.
If I took both of our SS and Medicare taxes along with our employers match, which is just over 15% of our total earnings and applied a return of 5-6% annually it would be well north of $1.5 million after 47 years of compounded growth at 5-6% ......Crazy, isn't it?
This post was edited on 5/7/24 at 8:47 pm
Posted on 5/7/24 at 8:30 pm to Geekboy
Are we talking about climate change or Social Security.
Posted on 5/7/24 at 8:31 pm to Geekboy
Perfect timing. I'll be 66.
Posted on 5/7/24 at 8:31 pm to Bass Tiger
and honestly, that is a very low highly conservative estimate. Most good Mutuals return north of 10% over the long haul.....so you probably talking well over 2.5M
Posted on 5/7/24 at 8:32 pm to Geekboy
This is not some new revelation. George W Bush sounded the alarm on SS running out no later than year 2037 -- literally 20 plus yrs ago in one of his SOTU addresses.
Posted on 5/7/24 at 8:35 pm to Geekboy
They'll just borrow and print infinite money to fund social security. As long as the government exists they're going to fund it.
Posted on 5/7/24 at 8:35 pm to Bass Tiger
quote:
If I took both of our SS and Medicare taxes along with our employers match, which is just over 15% of our total earnings and applied a return of 5-6% annually it would be well north of $1.5 million after 47 years of compounded growth at 5-6% ......just my man. Crazy, isn't it?
had any of us been allowed to throw all the SS amounts we were taxed into a basic index growth fund wed all have a million in it. the fact this dumbass government does not know how to invest or to let people do it or allow it to be privatized is a travesty. idiots trust this dumbass government over their own skills. sad.
pure PONZI scheme and that is why they will never let you have control of oit
Posted on 5/7/24 at 8:38 pm to Fat Bastard
quote:
had any of us been allowed to throw all the SS amounts we were taxed into a basic index growth fund wed all have a million in it. the fact this dumbass government does not know how to invest or to let people do it or allow it to be privatized is a travesty. idiots trust this dumbass government over their own skills. sad.
pure PONZI scheme and that is why they will never let you have control of oit
Somebody gets it. /thread
Posted on 5/7/24 at 8:44 pm to Fat Bastard
quote:
had any of us been allowed to throw all the SS amounts we were taxed into a basic index growth fund wed all have a million in it. the fact this dumbass government does not know how to invest or to let people do it or allow it to be privatized is a travesty. idiots trust this dumbass government over their own skills. sad.
I cannot believed how many people still cannot grasp this^^^^. They claim they understand the compounding growth of their 401k but the absolute ripoff of SS and Medicare is too complex. You could restrict the taxes taken out for SS and Medicare to a very conservative portfolio (80% fixed income 20% growth) and no access until age 62, most people don't understand how much money they would have at retirement
Posted on 5/7/24 at 8:48 pm to chili pup
quote:
10 years right before white people will no longer a majority (2045). That's what JObama said.
That’s assuming illegals keep sneaking over and Hispanics keep reproducing at insane rates. I doubt that’s going to happen. Either way they’ll still outnumber everyone else for the rest of everyone on this board’s lives.
Posted on 5/7/24 at 8:50 pm to Fat Bastard
quote:Yeah - that's all I was thinking about 50 years ago
had any of us been allowed to throw all the SS amounts we were taxed into a basic index growth fund wed all have a million in it
Posted on 5/7/24 at 8:52 pm to Diamondawg
quote:
quote:had any of us been allowed to throw all the SS amounts we were taxed into a basic index growth fund wed all have a million in it
Yeah - that's all I was thinking about 50 years ago
This ^^^^ doesn't make it not true.
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