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Posted on 10/14/26 at 4:48 pm to Snipe
Yep. When you don’t depend on the Government for your retirement; you can have an enough saved to use SS as petty cash. If you were stupid and did not save for retirement then that is all on you. Carry on boys and girls.
Posted on 10/14/26 at 4:57 pm to CatfishJohn
quote:
And a lot of the people having a lot of babies aren't contributing to SS because they're below poverty line and/or on welfare.
if they are employed in either case, and they are in the latter or they do not receive benefits due to Bill Clinton making all social welfare income based, no income no benefits, they are paying social security taxes. If they are below the poverty line and not working it is probably because doing so with a child is not financially viable....in which case they are not eligible for any social welfare AND not paying SS Taxes...but if they are eligible they are paying SS Taxes.
quote:
Yes, they get too big to continue to fund.
It will likely happen to SS. And the only way it doesn't is if we have a mass extinction event of older people, they raise the age a lot for eligibility, or they raise the amount owed each month by those paying into it in future decades substantially.
There are multiple fixes but none will get done as long as the one that is most popular is to turn it over to bankers as an individual retirement account so the bankers can rob every penny of our money....the only one the right will consider other than cutting benefits.
If we eliminate the earnings cap, keep benefits capped as they are now AND means test benefits so that the benefit cap starts to decrease as retirement income over a certain amount, enough to live very comfortably in retirement, the trust fund would be fixed for as long as the United States exists as a country. Hell, do away with the means testing and it will be. Again, this won't be done because it ain't fair....and it ain't fair because it will prevent it being converted to an individual retirement account and handed to the banking industry to pillage and plunder and lord knows that aint fair to the banking industry.
Posted on 10/14/26 at 5:07 pm to Houston problem
quote:
Had Boomers had the freedom AND THE DISCIPLINE AND KNOWLEDGE to put that money in the S&P they would all be multi millionaires.
I fixed it for you.
Nothing other than Boomers not doing so prevented Boomers from saving as much as they wanted for retirement. In fact IF a boomer ain't at least a millionaire through their retirement account THEY are not disciplined enough to have become a multi millionaire by investing their SS taxes in the S&P...they be facing retirement age with NO INCOME AT ALL.
What's that you say? They did not make enough to pay SS taxes AND save for retirement? Guess what? That's a CHOICE they made. No one held a gun to their head and prevented them from making as much as they thought they needed...they chose to do so.
Finally IF they had invested their SS taxes in the S&P and everyone of them were multi millionaires where does that leave social security recipients past, present and future - the orphaned, widowed and disabled? In this fevered fantasy the elderly would all be multi millionaires so they are no longer on the list. Where would the financial needs of THOSE people come from? Family? That would cost more than SS taxes. CHarities? Only if tax revenues dropped significantly from charitable donations increasing. That too would cost more than SS taxes for those multi-millionaires.
Posted on 10/14/26 at 5:24 pm to GRTiger
quote:according to your mode of thinking, boomers should also only have to pay 60-80s economic costs also but they dont and cant.
More than most working stiffs get. Congrats, boomers. You deserve it from that 50 cents you contributed each paycheck back in the 60s-80s.
This post was edited on 10/14/26 at 5:26 pm
Posted on 10/14/26 at 5:33 pm to GRTiger
It's a such a shitty return on investment that it is a government run scam that they defend as a kind of addiction.
Matched by Employer:
1960–61
3.00%
1962
3.125%
1963–65
3.625%
1966
4.20%
1967
4.40%
1968
4.40%
1969–70
4.80%
1971–72
5.20%
1973
5.85%
1974–77
5.85%
1978
6.05%
1979–80
6.13%
Years
Self-employed rate
1960–61
4.50%
1962
4.70%
1963–65
5.40%
1966
6.15%
1967
6.40%
1968
6.40%
1969–70
6.90%
1971–72
7.50%
1973
8.00%
1974–77
7.90%
1978
8.10%
1979–80
8.10%
Matched by Employer:
1960–61
3.00%
1962
3.125%
1963–65
3.625%
1966
4.20%
1967
4.40%
1968
4.40%
1969–70
4.80%
1971–72
5.20%
1973
5.85%
1974–77
5.85%
1978
6.05%
1979–80
6.13%
Years
Self-employed rate
1960–61
4.50%
1962
4.70%
1963–65
5.40%
1966
6.15%
1967
6.40%
1968
6.40%
1969–70
6.90%
1971–72
7.50%
1973
8.00%
1974–77
7.90%
1978
8.10%
1979–80
8.10%
Posted on 10/14/26 at 6:11 pm to kywildcatfanone
Confused why this is needed when inflation isn’t real. Old folks need to put down the $15 burritos and Netflix
This post was edited on 10/14/26 at 6:11 pm
Posted on 10/14/26 at 6:15 pm to sharkfhin
I sure would like to pay the 60s-80s percent of my income.
Boomers are the largest beneficiaries of social security by far, and it won't ever change because it won't last long enough for any future generation to even think of catching up, including gen X.
Boomers are the largest beneficiaries of social security by far, and it won't ever change because it won't last long enough for any future generation to even think of catching up, including gen X.
Posted on 10/14/26 at 6:21 pm to Shexter
quote:
$75 damn dollars
How much of that 75 bucks/month will be negated by the increase in medicare premiums? Haven't seen that mentioned.
Posted on 10/14/26 at 6:30 pm to Auburn1968
Great stats from Auburn 1968. What no one brings up is that more than half of the boomers are grouped into a bucket. The boomers other bucket that I know wore polyester pants and taught in the state school system=zero SS. Were in a union on the river, plant, or yard = zero SS. Railroad =zero SS. Lastly, worked hard and earned a pension from the river, plant, or yard.
Posted on 10/14/26 at 6:38 pm to NIH
quote:
Old folks need to put down the $15 burritos and Netflix
Young people need to stop buying avocado toast and $8 Starbucks
This post was edited on 10/14/26 at 6:40 pm
Posted on 10/14/26 at 6:46 pm to BFIV
quote:
How much of that 75 bucks/month will be negated by the increase in medicare premiums? Haven't seen that mentioned.
A lot of insurances are dropping their Medicare prescription plans (Aetna is dropping theirs here). It’ll 100% go towards medication.
Posted on 10/14/26 at 6:48 pm to Houston problem
That will be a nice boost, I guess I'll go ahead and heat the pool. I hope Trump doesn't put a tariff on Russian caviar.
Posted on 10/14/26 at 6:49 pm to caill430
quote:
Lastly, worked hard and earned a pension from the river, plant, or yard.
My Dad pulls about 5k a month in his railroad pension. Ford older retirees get similar (with damn good health insurance).
You literally can’t find a job today that has that. They don’t exist anymore.
Posted on 10/14/26 at 6:50 pm to kywildcatfanone
Young people are funding your welfare, gramps
Posted on 10/14/26 at 6:50 pm to Houston problem
quote:
Cue the ignorant "Muh, Boomers" cry babies.
What you got against old folks? Lol.
#notAboomer
#retiredINmy50's
Posted on 10/14/26 at 6:56 pm to NIH
Nope, I have funded my retirement fully. Get a job and do the same for yourself.
Edit: haven't collected what I paid into SS, but I plan to.
Edit: haven't collected what I paid into SS, but I plan to.
This post was edited on 10/14/26 at 7:06 pm
Posted on 10/14/26 at 6:57 pm to BluegrassBelle
quote:
You literally can’t find a job today that has that. They don’t exist anymore.
Govts give out pensions like candy. They shouldn't, but they do.
Posted on 10/14/26 at 7:02 pm to Houston problem
There’s a super easy, common sense way to shore up SS, invest a portion in the market, like most pension plans.
Posted on 10/14/26 at 7:03 pm to GRTiger
quote:
You deserve it from that 50 cents you contributed each paycheck back in the 60s-80s.
I don’t believe the average person collects nearly as much as they have paid in when you take into consideration the time value of that money.
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