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Message
re: Is being in social security program a good thing?
Posted on 10/7/18 at 11:17 pm to iAmBatman
Posted on 10/7/18 at 11:17 pm to iAmBatman
It's printed right on your semiannual SSI statement. "Revenue will only be able to provide approximately 76% of scheduled benefits beginning in 2022."
The problem with socialism is eventually you run out of other people's money.
The problem with socialism is eventually you run out of other people's money.
This post was edited on 10/7/18 at 11:20 pm
0
Posted on 10/8/18 at 8:02 am to iAmBatman
quote:
Ignorant people say this all the time but it would be political suicide for a politician to suggest this.
It was started by Wall Street lobbyists hoping to privatize SS and thus get an influx of cash into the stock market.
The SS system is as solvent as our lawmakers want it to be.
Posted on 10/8/18 at 10:46 am to The Spleen
quote:
The SS system is as solvent as our lawmakers want it to be.
True, but it's also as solvent as to the level they want to fund it, and as to the level they want to tax for it.
And therein lies the issue.
Posted on 10/8/18 at 11:08 am to LSUFanHouston
Maybe it's the liberal in me, but I really don't see the huge issue of bumping up the max on the social security earnings limit more than it has been. I mean, if we're really concerned about the solvency of the SS system. Raising the retirement age along with that would solve a lot of the supposed problems.
Posted on 10/8/18 at 11:22 am to The Spleen
quote:I believe the next step congress will take to increase payment into the social security fund will be to make capital gains subject to payroll taxes.
Maybe it's the liberal in me, but I really don't see the huge issue of bumping up the max on the social security earnings limit more than it has been. I mean, if we're really concerned about the solvency of the SS system. Raising the retirement age along with that would solve a lot of the supposed problems.
Posted on 10/9/18 at 8:52 am to Chuker
quote:
Would I opt out of paying into a program for which I will likely never see a penny when I'm old enough to receive it?
That's gonna be a yes, Soldier.
I'm 41 years old and at this point in my life if I had the option to opt out I would too. If I had all the money available that I send to social security to put towards what I already contribute to my 401k, I would likely be retired by age 55. Every damn year I send them about $7k.
Posted on 10/9/18 at 9:01 am to The Spleen
quote:
Maybe it's the liberal in me, but I really don't see the huge issue of bumping up the max on the social security earnings limit more than it has been. I mean, if we're really concerned about the solvency of the SS system. Raising the retirement age along with that would solve a lot of the supposed problems.
My problem with it is I'm responsible and could have another 7% of my own money to save in the way I see best fit, whether that 401k, mutual funds, real estate, etc. Instead, I'm forced to send it to the government where I or my dependents/decidents are nearly guaranteed to not recoup 100% of that back because I'm responsible and have a good job and save plenty for retirement.
At the end of the day, it's another welfare program that redistributes wealth and started as a revenue stream for the government.
quote:
The Social Security Act was passed in 1935 guaranteeing retirement pensions to all Americans over the age of 65. Sounds like a good deal — except for the fact that the average American life expectancy back in '35 was 61.7 years
Posted on 10/9/18 at 9:32 am to TigerintheNO
Defund SS now and see all the Boomer welfare queens blame the millennials.
SS=welfare
SS=welfare
Posted on 10/9/18 at 9:42 am to The Spleen
quote:
Maybe it's the liberal in me, but I really don't see the huge issue of bumping up the max on the social security earnings limit more than it has been. I mean, if we're really concerned about the solvency of the SS system. Raising the retirement age along with that would solve a lot of the supposed problems.
I don't know if it's the realist or pessimist in me, but I have a hard time seeing that gain traction. People talk about the NRA being such a powerful lobby, but AARP is the strongest lobbying group in D.C., and I doubt they'll be quiet if anyone tries to reduce benefits to their members, even though it's to keep SS and Medicare sustainable in the long term. Plus, such a move anytime before the 11th hour would be political ammo for the opposition: "Candidate/Senator/Representative XYZ wants to put millions of elderly in poverty! This is an outrage! Vote for me instead!" So, I think nothing will be done until the can can't be kicked down the road anymore, but the fixes then will have to be more drastic than they would be today.
Personally, I'd like to opt out of SS. SS invests in Treasuries, but I'd buy stocks with the money, outperforming in the long run. Stanley Druckenmiller also did a series of talks stating that I and those younger than me will be net payers into the SS system unless something changes. I can provide interview links if anyone is interested.
Posted on 10/9/18 at 12:05 pm to TigerintheNO
My wife qualifies for TRSL and I'm beyond glad not to be paying into SS.
Posted on 10/9/18 at 10:15 pm to TheWiz
If you don't think there are current laws in effect to take your money you are seriously naive. My old man was self employed all his life and paid into SS. When he turned 66 he took his SS benefit. He died a month later unexpectedly. My mom worked for the state for 33 years, never put into SS cause she had a state pension. When she went to SS after my dad died they told her she made to much money in her pension to receive his benefit now. She should wait till she is 72 and maybe she could get a portion of his benefits. Its called WEP-Windfall Elimination Provision.
My old man put into SS or 48 years and got one month of benefits. Now my mom will be lucky to ever see any of it. Tell me that isn't fricked up.
My old man put into SS or 48 years and got one month of benefits. Now my mom will be lucky to ever see any of it. Tell me that isn't fricked up.
Posted on 10/10/18 at 4:47 am to The Spleen
quote:
Maybe it's the liberal in me, but I really don't see the huge issue of bumping up the max on the social security earnings limit more than it has been.
Do you bump thier payout as well?
quote:
I mean, if we're really concerned about the solvency of the SS system. Raising the retirement age along with that would solve a lot of the supposed problems.
The first step is stop paying out bogus disability claims, second is clamp down hard on medicare fraud, next double the credits required for eligibility, only after that do we need to look at modifying retirement age.
The fact that you can qualify for a "pension" after 10 years of work is a joke.
Posted on 10/10/18 at 6:18 am to LSURussian
In Florida teachers have both the state pension and SS.
The idea that SS won’t exist at all in 25-50 years is crazy. Your return on the dollar may get lowered, but the program will exist in some form. Too many people have nothing else.
The idea that SS won’t exist at all in 25-50 years is crazy. Your return on the dollar may get lowered, but the program will exist in some form. Too many people have nothing else.
Posted on 10/10/18 at 8:30 am to RoyalWe
(no message)
This post was edited on 12/21/21 at 11:41 am
Posted on 10/10/18 at 8:53 am to cave canem
quote:
Do you bump thier payout as well?
Sure. The payout is indexed to the amount put in, and the length of contributions to the system, is it not?
As to teh rest of your post, can't say I disagree with much of it. I don't really know enough about disability qualifications to really comment, but I do know it is widely abused. Just looking at the almost cottage industry of lawyers that specialize in getting disability for folks shows how messed up that system is.
Posted on 10/10/18 at 9:42 am to iAmBatman
quote:
I fail to see what Obamacare has to do with Social Security.
They are both based on a giant government sanctioned ponzi scheme.
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