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Message
1
Posted on 7/11/26 at 1:46 pm to armytiger96
1987-2001
And 2026 to 2033 at current max
And 2026 to 2033 at current max
Posted on 7/11/26 at 1:55 pm to NC_Tigah
The point was we cant do anything about it because the old people expect "their" money back. Their money is gone. The government already wasted it.
No i haven't. I'm forced into the scam. The only way i get out of it is to quit working.
quote:
You've bought into the scam.
No i haven't. I'm forced into the scam. The only way i get out of it is to quit working.
Posted on 7/11/26 at 2:12 pm to DownshiftAndFloorIt
quote:
The point was we cant do anything about it because the old people expect "their" money back. Their money is gone. The government already wasted it.
Do you understand these statements?
Posted on 7/11/26 at 2:22 pm to kywildcatfanone
Yes.
Somebody is going to get mega fricked. It needs to happen now, or it will continue getting worse. There needs to be a path to doing away with it right now.
The problem is everyone getting all pissy about losing their money, and not caring how bad it gets as long as they get theirs. Meanwhile uncle Sam is fricking my eyes out.
Somebody is going to get mega fricked. It needs to happen now, or it will continue getting worse. There needs to be a path to doing away with it right now.
The problem is everyone getting all pissy about losing their money, and not caring how bad it gets as long as they get theirs. Meanwhile uncle Sam is fricking my eyes out.
Posted on 7/11/26 at 2:30 pm to Ramblin Wreck
I chose to take it at 62. I just turned around and then invested it in the market and did it until this year.
Posted on 7/11/26 at 2:31 pm to DownshiftAndFloorIt
quote:
No i haven't. I'm forced into the scam. The only way i get out of it is to quit working.
Welcome to adulthood. We have all been forced into this scam. Only the commies want or support this program. Live and work long enough you're going to want your money back even though its gone because the government wasted it too!
Posted on 7/11/26 at 2:37 pm to DownshiftAndFloorIt
quote:
Somebody is going to get mega fricked. It needs to happen now, or it will continue getting worse. There needs to be a path to doing away with it right now. The problem is everyone getting all pissy about losing their money, and not caring how bad it gets as long as they get theirs. Meanwhile uncle Sam is fricking my eyes out.
It must be 2004 again. You do realize this is the exact argument that was used in 2004 when they tried to privatize SS and has been said by every young worker since the '80s.
Posted on 7/11/26 at 2:42 pm to armytiger96
quote:
It must be 2004 again. You do realize this is the exact argument that was used in 2004 when they tried to privatize SS and has been said by every young worker since the '80s.
All I can say if I've made a ton of money in the market. If privatization involved putting money in an index fund and disallowed individuals moving money around where they could lose it, it could work. There should be several investment options. Not many. If someone wants to "play the market" they should do it on their own dime.
Posted on 7/11/26 at 2:45 pm to armytiger96
So just leave it like it is? Don't try to do anything about it? You got screwed, so frick everybody else while you get back pennies of the dollars you put in?
No. I don't want to frick my kids like that just because I got fricked.
quote:
work long enough you're going to want your money back
No. I don't want to frick my kids like that just because I got fricked.
Posted on 7/11/26 at 2:52 pm to armytiger96
quote:
You do realize this is the exact argument that was used in 2004 when they tried to privatize SS and has been said by every young worker since the '80s.
Blame elected officials in 2004 because Bush finally wanted to do this, and democrats balked because they would lose funds to raid for illegals and abortions.
Posted on 7/11/26 at 3:03 pm to DownshiftAndFloorIt
quote:
So just leave it like it is? Don't try to do anything about it? You got screwed, so frick everybody else while you get back pennies of the dollars you put in?
Sure; go run for Congress and do something about it! You'll get my vote! Good luck getting the other 530sh members to follow your lead.
You should redirect your anger and energy at the Politicians who caused and refuse to fix the problem. Not the American citizens that were forced into the system just like you and expect their government to repay its debts! Lord knows the same government expects us to pay our debts.
This post was edited on 7/11/26 at 3:09 pm
Posted on 7/11/26 at 3:22 pm to Old Sarge
quote:I believe that's total contribution, yours and your employer's. If a 67-year-old worker earned at or above the Social Security maximum taxable cap every single year from 1982 through 2026 (45 years), the lifetime cumulative total is about $440,000, worker and employer contributions combined.
That’s 423,000 from me
Posted on 7/11/26 at 3:27 pm to aTmTexas Dillo
quote:That is the model proposed in the early 2000s. It was proposed at a time where the transition would not have led to significant deficits in Social Security due to the size of the trust fund at that point. Unfortunately, that bird has flown.
If privatization involved putting money in an index fund and disallowed individuals moving money around where they could lose it, it could work
Posted on 7/11/26 at 5:41 pm to armytiger96
Okay, so they acknowledge how much you paid in and how much you qualify for. Im well aware of how that works, and it’s not the same as what you paid in as being your money; that’s why I made the distinction of saying it’s not like a personal account held in trust. It could go belly up tomorrow and they wouldn’t owe you or I a thing.
You and others close to retirement don’t believe any changes should affect them. I think that’s wishful thinking, but maybe they find a way. The idea that the government will let people opt out and then make up the lost funding (payees now pay for retirees now) is fanciful, in my opinion.
I bet it will be one or some or all of raising the maximum income threshold, increasing the minimum retirement age, or means testing, if they do anything at all. More likely they let it burn out with everyone paying in until it does.
You and others close to retirement don’t believe any changes should affect them. I think that’s wishful thinking, but maybe they find a way. The idea that the government will let people opt out and then make up the lost funding (payees now pay for retirees now) is fanciful, in my opinion.
I bet it will be one or some or all of raising the maximum income threshold, increasing the minimum retirement age, or means testing, if they do anything at all. More likely they let it burn out with everyone paying in until it does.
Posted on 7/11/26 at 6:06 pm to SparkyWilson
quote:
I bet it will be one or some or all of raising the maximum income threshold, increasing the minimum retirement age, or means testing, if they do anything at all. More likely they let it burn out with everyone paying in until it does.
This will be the most likely outcome and the means testing will piss me off the most because it will reward the slapdicks in my generation that had fun chasing the Jones's for the past 30+ and punish those of us that were disciplined and planned for retirement.
quote:
It could go belly up tomorrow and they wouldn’t owe you or I a thing.
They would still "owe" us because it is a debt; however we wouldn't have a means to recover that debt. This would be the equivalent of not paying out your tax returns if you over paid. Sorry we over spent this year so we're not going to acknowledge your return.
This post was edited on 7/12/26 at 7:08 am
Posted on 7/11/26 at 6:24 pm to armytiger96
quote:
You should redirect your anger and energy at the Politicians who caused and refuse to fix the problem. Not the American citizens that were forced into the system just like you and expect their government to repay its debts! Lord knows the same government expects us to pay our debts.
Yep. These younger folks blaming "boomers" for this need to understand, the people making these decisions over the last 60 years would be less than 10000 of the total population during that time.
Like you, I have paid in for 40 years plus saved separately. Of course I want some of my money back.
Posted on 7/11/26 at 8:12 pm to armytiger96
quote:
means testing will piss me off the most
I am with you there.
[quote]They would still "owe" us because it is a debt; however we wouldn't have a means to recover that debt.[/]
Not much consolation if it pans out that way.
I sincerely hope it works out, but I’m too pessimistic to have any faith in it.
Posted on 7/11/26 at 8:14 pm to kywildcatfanone
I knew SS was broke as a HS student in the 90s and didnt exoect to get all of mine. It's easier to cope with when you realize it's just welfare for the elderly,.disabled, widows and orphans. No, it's not fait but without it imagine the number of elderly living in abject poverty. Most people wouldnt invest it if given control. A hybrid system where you either invest or government controls it might work but will never pass due to fear mongering.
At this point I'm just glad I had foresight to invest on my own and not depend on SS. I'll be annoyed if they take my benefit through means testing as I fully expect to happen at some point but it wont make a big difference in my life.
At this point I'm just glad I had foresight to invest on my own and not depend on SS. I'll be annoyed if they take my benefit through means testing as I fully expect to happen at some point but it wont make a big difference in my life.
Posted on 7/11/26 at 9:56 pm to SparkyWilson
quote:Problem is, it's just another tax and they don't actually owe us anything unfortunately. Yet another case where the irresponsible and unfortunate benefit at the expense of the responsible ones. No one seems to complain that it always has paid out at a higher proportion of contributions to lower earners due to bend points. It's never been a true pension system or retirement investment plan. It's simply a safety net to keep the elderly, infirm, widows and orphans out the gutters this the name Social Security.
They would still "owe" us because it is a debt; however we wouldn't have a means to recover that debt.
This post was edited on 7/11/26 at 9:57 pm
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