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Posted on 3/25/25 at 5:50 pm to 308
I did see it running out but not anymore. Doge is what saved it
Posted on 3/25/25 at 5:53 pm to Kid Ray
quote:
Why wasn't each person's account set up individually and that way whatever you put in you get instead of pooling the money?
It was never meant to work that way. People who pay in more get less relative to what they paid in. My guess is that the lower earners a.k.a. those who paid in less wouldn't have received very much if it was based solely on what they contributed.
Sad thing is a lot of people have no clue about how it's paid out and likely will never go look. They just figure something is coming like it's a standard amount for everyone. If you haven't, go check it out some time. The payout formula has bend points; 3 percentages of income thresholds.
Posted on 3/25/25 at 5:56 pm to 308
Yes, I can see it ending. Before that happens, I could also see them start means testing for it regardless of how much and how long you've paid in.
I'm not counting on it being there.
I'm not counting on it being there.
Posted on 3/25/25 at 5:58 pm to 308
Neither party will ever allow it to end on their watch for fear of never winning another election.
Posted on 3/25/25 at 6:08 pm to superwolf
quote:
be looking at easily $15/20K per month or more
Posted on 3/25/25 at 6:12 pm to DakIsNoLB
Maybe DOGE could redirect some of the fraudulent money to the Social Security coffers?
Posted on 3/25/25 at 6:15 pm to 308
Nope.
Posted on 3/25/25 at 6:26 pm to 308
quote:
Could you ever see Social Security actually ending?
No, but I can see it only going to people that paid into it. Millions of spouses draw a SS check and never worked but draw 50% of their husbands check. When the husband dies it ends unless she paid into it. It takes 40 quarters to minimum qualify for SS benefits. Also, Medicaid, which is an entitlement, will go before Medicare and SS. Then put no limit on earnings being FICA taxed. That is what will happen in my opinion. No politician will fall on his sword and vote to eliminate SS and lose his seat. They covet those seats more than their own spouses. Every House and Senate rep have SS payees in their voting blocks. They love those jobs too much. They will cut other funding, possibly even defense funding but SS is going nowhere. All my opinion.
Posted on 3/25/25 at 6:30 pm to superwolf
While true that you (most likely but no guarantees) would be better off investing, in reality most people by far wouldn't have the self discipline to do it. There would always be 'something else they really needed' for the money that month.
Posted on 3/25/25 at 6:55 pm to NC_Tigah
It is always a wise choice to read the whole post before you comment and make yourself sound stupid like a hysteric white woman.
Posted on 3/25/25 at 6:57 pm to wallowinit
quote:Oh my.
It is always a wise choice to read the whole post before you comment and make yourself sound stupid like a hysteric white woman.
Projection is a thing
Posted on 3/25/25 at 7:12 pm to 308
No
Thats your money.. Not theirs. Its not even deposited into the treasury to be spent. Its just "borrowed" against
Thats your money.. Not theirs. Its not even deposited into the treasury to be spent. Its just "borrowed" against
quote:
In 1939 a formal trust fund was established. Specifically, the law provided: "There is hereby created on the books of the Treasury of the United States a trust fund to be known as the 'Federal Old-Age and Survivors Insurance Trust Fund'
quote:
The taxes collected under the Social Security payroll tax are in effect being lent to the federal government to be expended for whatever present purposes the government requires. In this indirect sense, one could say that the Social Security trust funds are being spent for non-Social Security purposes. However, all this really means is that the trust funds hold their assets in the form of Treasury securities.
Posted on 3/25/25 at 7:14 pm to Myentireteamsucks99
You are right but you definitely made a few boomers here pop a nitroglycerin today.
Posted on 3/25/25 at 8:01 pm to NC_Tigah
quote:Oh, I know. But, I'm trying to deal with the political realities of perception.
Very reasonable .... except SS was never intended as a Citizen's Retirement Benefit.
Posted on 3/25/25 at 8:08 pm to 308
Well, I never thought I would see Roe vs Wade overturned, but it happened.
What is the history of Social Security related litigation? Right now, GOV workers at all levels, including teachers, policemen and firemen (but not the military), and railroad workers don't pay FICA but instead the full amount that would have been paid goes into pension plans. Preachers and church staff who don't want to be in SS also don't have to pay and can invest their money like they want to. Meanwhile, all the rest of us are required to pay into that wealth redistribution plan.
Seems like if the SCOTUS could find the b@lls to overturn Roe vs Wade, there is a possibility that someone would win litigation about how unfair SS actually is, giving certain citizens extra rights by the way it's structured.
What is the history of Social Security related litigation? Right now, GOV workers at all levels, including teachers, policemen and firemen (but not the military), and railroad workers don't pay FICA but instead the full amount that would have been paid goes into pension plans. Preachers and church staff who don't want to be in SS also don't have to pay and can invest their money like they want to. Meanwhile, all the rest of us are required to pay into that wealth redistribution plan.
Seems like if the SCOTUS could find the b@lls to overturn Roe vs Wade, there is a possibility that someone would win litigation about how unfair SS actually is, giving certain citizens extra rights by the way it's structured.
This post was edited on 3/25/25 at 9:04 pm
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