- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Social Security has 6 years left, cut benefits or raise taxes?
Posted on 3/20/26 at 4:50 pm to armytiger96
Posted on 3/20/26 at 4:50 pm to armytiger96
quote:
frick that let us opt in now so we can at least recuperate some of our savings.
California, Alaska, Nevada, Hawaii, Texas, Louisiana, Georgia, Ohio, Maine, Colorado, Massachusetts are some of the states that allow their state workers to opt out.
0
Posted on 3/20/26 at 4:51 pm to ragincajun03
quote:no step one is to stop paying people who didnt pay into the system.
Start gradually raising the age to collect benefits up to 67 years old should be Step #1.
But even that will likely never happen.
Posted on 3/20/26 at 4:55 pm to SlowFlowPro
quote:
What? Who do you think is pocketing this money, exactly?
Do you not understand time value of money calculations?
According to Chat GPT if you take the avg starting salary of a college graduate in mid 1990's ($25,000) and assume avg wage growth of 5% per year and calculate money that the gov't took over the last 30 years in form of FICA and placed it in S&P 500 it would be worth $500,000 today. Now keep compounding that the $500K at 8% interest until they are eligible to receive benefits and their portfolio is worth around $1.5MM. This is assuming you quit paying FICA today.
If they kill the program now as Scruffy suggested Uncle Sam is essentially pocketing that money by not paying his end of the bargain.
Note I used CHATGPT because it could easily use actual returns of S&P instead of an assumed %'s.
This post was edited on 3/20/26 at 4:58 pm
Posted on 3/20/26 at 5:22 pm to TigerintheNO
Remove the cap for paying in. I hear corporations are people now.
This post was edited on 3/20/26 at 5:24 pm
Posted on 3/20/26 at 5:37 pm to armytiger96
quote:
Scammed implies I was a willing participant.
No. It's a welfare program.
You were scammed because you believe things that lead you to respond like this
quote:
As long as they pay me the NPV of my contributions for the past 35 years.
If we ended Section 8 tomorrow, would you be happy or demand your taxes paid for that welfare program, too?
Posted on 3/20/26 at 5:38 pm to llfshoals
quote:
He said lose it, and screw you if you needed it.
He said to kill it entirely, which means the taxes, too.
Posted on 3/20/26 at 5:40 pm to armytiger96
quote:
Do you not understand time value of money calculations?
I do, but you're now pivoting from conspiracy theories to a sunk cost fallacy.
quote:
If they kill the program now as Scruffy suggested Uncle Sam is essentially pocketing that money
And now you pivot back to conspiracies.
The feds aren't "pocketing" that money. Those taxes taken were redistributed to old people receiving SS at the time of the taking, more or less. You need to seek this recompense from these elderly people and the estates of the ones who have already died. They have your money, not the government.
Posted on 3/20/26 at 5:43 pm to SlowFlowPro
quote:
SlowFlowPro
Why do you find this funny? If SS was eliminated today would this not be fair?
Posted on 3/20/26 at 5:46 pm to Ponchy Tiger
quote:
Why do you find this funny? If SS was eliminated today would this not be fair?
If we ended Section 8 or USAID today, would you be happy that we cut the spending, or would you demand repayment for all your taxes that paid for these programs over the past?
You're engaging in the sunk cost fallacy to continue shitty welfare programs
Posted on 3/20/26 at 5:58 pm to TigerintheNO
I’m open to extending the program if it had a sunset clause and a conversion program to a 401k type program.
The amount of money going to SSI every pay period for the possibly of $2000/month in 40 years is disgusting.
The amount of money going to SSI every pay period for the possibly of $2000/month in 40 years is disgusting.
Posted on 3/20/26 at 6:00 pm to SlowFlowPro
quote:
If we ended Section 8 tomorrow, would you be happy or demand your taxes paid for that welfare program, too?
This isn't apples to apples. What you are referring is something covered by income taxes. Obviously, FICA is a dedicated tax to this program and far from a welfare program for most recipients. It's a forced savings plan.
In know way am I a fan of SS. I would support future generations having the ability to opt out. However, I am not OK with the generations that were forced to pay into it the system not getting payments as promised.
Based on your cavalier attitude about giving up your SS payments. I'm guessing you're at the start of your career and haven't paid into the system for 30+ years.
Posted on 3/20/26 at 6:14 pm to armytiger96
Bro where is the money???? If future gen can opt out, who’s paying yours?
Posted on 3/20/26 at 6:21 pm to TigerintheNO
1982 New York Times Article:
An opinion piece titled "Social Security in 1982, 1984 and 2020" noted that "the best guess is that the trust funds will run out of cash in 1984"
An opinion piece titled "Social Security in 1982, 1984 and 2020" noted that "the best guess is that the trust funds will run out of cash in 1984"
Posted on 3/20/26 at 6:25 pm to DamnGood86
Social security *was* heading towards insolvency in the 80s.
We raised FICA taxes to fix it
We raised FICA taxes to fix it
Posted on 3/20/26 at 6:26 pm to TigerintheNO
I am 60.5 years old. I’ve paid into that shite since I was 15 years old. I’ve never in my life been unemployed since I started working. For these bastards to pull the run out from under me exactly at the time that I retire is unconscionable. I have other retirement savings plus two retirement pensions but, SS was a part of that calculation that I’ve had in place for a very long time.
They gave benefits out like candy for decades. They looted the SS Trust Fund. They created financial bubbles and massive inflation. This abject failure is 100% on the evil bastards who became career politicians.
They gave benefits out like candy for decades. They looted the SS Trust Fund. They created financial bubbles and massive inflation. This abject failure is 100% on the evil bastards who became career politicians.
Posted on 3/20/26 at 6:27 pm to TigerintheNO
Quit taking damn money out of my check each month would be a start
Posted on 3/20/26 at 6:30 pm to DamnGood86
Never since the 1983 reforms have we come as close to trust-fund depletion as we are right now,” trustee Charles Blahous
Posted on 3/20/26 at 6:38 pm to Scruffy
quote:
If the older generation isn’t willing to sacrifice for the younger, they are a disgrace.
So I paid into it for 35 years and i should give it to you out of some kindness of my heart? You are a total idiot. And also can kiss my arse. How about just give me whatever you have since it’s the right thing to do? Sound just like a liberal dumb arse. You dumb arse.
Posted on 3/20/26 at 6:43 pm to fareplay
quote:
You offer no reasonable solutions because you know you’re grifting from young Americans and the future
No! The solution is called “grandfather in”
I paid for 35 years into it, I should get something “out” of it. Cut your contribution. You are no better or worse in any way. But I can tell already you simply want to blame others for your failures.
Posted on 3/20/26 at 6:48 pm to TigerintheNO
Take it out of the General Budget
Page 11 of 26
Popular
Back to top
Follow TigerDroppings for LSU Football News