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re: If social security is doing so great why do we now need myRA?
Posted on 12/28/14 at 5:15 pm to SpidermanTUba
Posted on 12/28/14 at 5:15 pm to SpidermanTUba
quote:I completely understand it. What you're claiming is that since income = payment there is no other money involved.
Though it remains to be seen whether or not you can actually comprehend the claim I am making,
That's the equivalent of having a mortgage on a rental property, and since the rent is equal to the mortgage... Concluding that the bank didn't provide any money for the purchase at closing.
Posted on 12/28/14 at 5:35 pm to Taxing Authority
SS is not a ponzi scheme. Conservatives think people will believe if they say it often enough.
Ponzi schemes promise returns on investments. SS is not an investment scheme. It's a transfer program where the taxes you pay now are transferred to people who collect the benefits. It has nothing to do with investing. It is dependent on more people paying into the program than collecting.
That problem is easily solved by means testing whereas Paris Hilton and Donald Trump should have enough money where they don't need social security and by increasing social security taxes on high income earners who likely won't miss a few hundred dollars a year in social security taxes.
Plus social security was never intended to be a retirement program. It is an anti-poverty program for the elderly. That's what it is and that's why it pays such meager benefits. It's only there to keep you out of poverty when you're older or disabled. That's why means testing is the way to go.
Ponzi schemes promise returns on investments. SS is not an investment scheme. It's a transfer program where the taxes you pay now are transferred to people who collect the benefits. It has nothing to do with investing. It is dependent on more people paying into the program than collecting.
That problem is easily solved by means testing whereas Paris Hilton and Donald Trump should have enough money where they don't need social security and by increasing social security taxes on high income earners who likely won't miss a few hundred dollars a year in social security taxes.
Plus social security was never intended to be a retirement program. It is an anti-poverty program for the elderly. That's what it is and that's why it pays such meager benefits. It's only there to keep you out of poverty when you're older or disabled. That's why means testing is the way to go.
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