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re: "How dare you cut SS and medicare! I deserve what I paid in!" Your terms are acceptable
Posted on 1/22/23 at 1:37 pm to BlackAdam
Posted on 1/22/23 at 1:37 pm to BlackAdam
quote:By the definition of entitlement, paybacks to a lender are entitlements.
That has nothing to do with the definition of entitlements.
Lumping welfare and SS together, as equivalently entitled is as silly as lumping medicaid with medicare.
One group falls under full protection of the Constitution, the other is at Congressional discretion.
This post was edited on 1/22/23 at 1:38 pm
1
Posted on 1/22/23 at 1:39 pm to HailHailtoMichigan!
quote:
Read the fine print.
The numbers are adjusted
Well there you go then, its been adjusted, that will work. Course the net present value of the dollars invested in COLA which is bullshite, Madoff, or Tesla vary by just a hair, so pray tell what adjustments are they?
No one who did not put into it should have been allowed to take out, AND NEVER the for 23 year olds with minor headaches receiving disability for life.
You ever look at the stats on disability and how they skyrocketed when obama changed the rules on what it was. And of course the states with the highest percentage, not total because they would not be a fair comparison, but as a percentage, cali and NY, where you have liberal govt "administrators" deciding who can claim for a hangnail for life.
Posted on 1/22/23 at 1:39 pm to HailHailtoMichigan!
For these charts to be honest, they would have to be expressed in constant dollars. $1000 put in 40 years ago would be $2,938.30 today.
Note also, that the SS "Trust Fund" pays a theoretical 2% interest while inflation has averaged around 4% over the last 40 years. That's a -2% inflationary skim not even counting the current 7 and 8% inflation recently.
At 2% interest, your original $1000 with 2% interest "produces" about $2000. If it had been put into the stock market, it would have produced an average gain of around 9% turning that initial $1000 into about $31,400.
Note also, that the SS "Trust Fund" pays a theoretical 2% interest while inflation has averaged around 4% over the last 40 years. That's a -2% inflationary skim not even counting the current 7 and 8% inflation recently.
At 2% interest, your original $1000 with 2% interest "produces" about $2000. If it had been put into the stock market, it would have produced an average gain of around 9% turning that initial $1000 into about $31,400.
This post was edited on 1/22/23 at 1:56 pm
Posted on 1/22/23 at 1:42 pm to HailHailtoMichigan!
SS is a ponzi...
Posted on 1/22/23 at 1:59 pm to Auburn1968
It's not like we didn't see the Ponzi equation collapsing back in Reagan's day when the worker/retiree ratio thinned to 7/1. Reagan and the dems jacked up SS taxes to fix it. However, the swamp weasels just saw it as more money to spend.
If Congress was a private pension managing team, they would all be in jail.
If Congress was a private pension managing team, they would all be in jail.
Posted on 1/22/23 at 2:01 pm to HailHailtoMichigan!
Joy Reid says this isn’t true.
Posted on 1/22/23 at 2:22 pm to BeepNode
quote:
Republicans love losing. It's incredible. Democrats are so awful and still Republicans manage to make themselves look even more undesirable.
Posted on 1/22/23 at 2:39 pm to HailHailtoMichigan!
Me and the wife have been paying Social Security and Medicare taxes for over 40 years. I figure between the two of us we’ve paid well over $500k in taxes, imagine if that money were invested in a low risk account with 20/80 mix over that +40 years….you’re looking at $1.5-2 million in a lump sum payout.
Posted on 1/22/23 at 2:42 pm to BlackAdam
quote:
Social Security is an entitlement. Some of the other programs you listed are entitlements too, but not all of them.
Social Security is not an entitlement.
Those losers in Congress can call it what they want.
quote:
Tanf, what most call welfare is an entitlement. Section 8 is not.
quote:
the belief that one is inherently deserving of privileges or special treatment
Special treatment properly defines the losers in Section 8 housing.
Posted on 1/22/23 at 3:06 pm to mauser
quote:
I think the ones who haven't prepared for their golden years can pool their cash and room together like they did in college.
I think we're going to start seeing more and more American seniors retiring in Mexico, Central and South America, or Southeast Asia. To be honest, I'm kicking the idea around myself. $5K/month in retirement income puts someone in the top 1% of income earners in the Philippines. That gets you a nice house in a gated community, a maid, a gardener, a cook, and a driver.
Posted on 1/22/23 at 3:12 pm to rickyh
No, no they didn’t. It’s insolvent as hell and the trust has been raided for all
Sorts of things via financial engineering over the years including never ending foreign wars
Sorts of things via financial engineering over the years including never ending foreign wars
Posted on 1/22/23 at 3:19 pm to HailHailtoMichigan!
So what you are saying is...I should pay into soc sec for 40 yrs but expect no growth? Is that what you are saying?
I'm required to do it. So if there isnt any growth .do away with it
I'm required to do it. So if there isnt any growth .do away with it
Posted on 1/22/23 at 3:23 pm to HailHailtoMichigan!
Thank god I’m a short timer. Willl retire next year at 63 and take my monies and not feel guilty bout it.
Posted on 1/22/23 at 3:31 pm to HailHailtoMichigan!
This is a problem that can't be fixed. Any fix has to entail cuts and any politician that suggests he will vote to cut will never win another election.
Just print more.
Just print more.
Posted on 1/22/23 at 4:40 pm to 93and99
quote:
Blame the dumb frick FDR.
He's the reason we have this stupid program.
I’m not trying to blame anybody. But the program does need reform asap if it’s to survive. Push back retirement ages. Means test the recipients, it should be a safety net and if you don’t need that net that’s fantastic.
Posted on 1/22/23 at 4:41 pm to HailHailtoMichigan!
How many die before ever receiving any payout after 40 years of paying? How many die before receiving full payback? I don't see those figures. Life expectancy is about 77 in the US. So less than 10 years of FRA. If I retire at 66 and 10 months for FRA, I will have paid 288,000 in. If I live another 10 years I will receive about 240,000.
This post was edited on 1/22/23 at 4:54 pm
Posted on 1/22/23 at 4:48 pm to DavidTheGnome
quote:
I’m not trying to blame anybody. But the program does need reform asap if it’s to survive. Push back retirement ages. Means test the recipients, it should be a safety net and if you don’t need that net that’s fantastic.
I think you’re gonna see means testing and the payroll tax limits for Social Security and Medicare removed…..the irresponsible government politicians and bureaucrats are gonna get the money somehow, somewhere and from somebodies.
Posted on 1/22/23 at 10:34 pm to NC_Tigah
quote:
Lumping welfare and SS together, as equivalently entitled is as silly as lumping medicaid with medicare.
Assuming by wellfare you mean tanf, yes all four of the programs you mention are entitlements by definition. Congress has to spend the money on SS Medicare, Medicaid, and TANF.
Posted on 1/23/23 at 4:24 am to BlackAdam
quote:By what precept does Congress have to spend a dime on medicaid, welfare, or any other give away?
Congress has to spend the money on Medicaid, and TANF
Posted on 1/23/23 at 6:35 am to HailHailtoMichigan!
Awesome. When can I expect the government check, and a halt to forced confiscation of my earnings for SS?
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