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Message
re: I support Trumps proposed cuts to Social Security!
Posted on 3/14/24 at 9:10 pm to wackatimesthree
Posted on 3/14/24 at 9:10 pm to wackatimesthree
quote:
He SHOULD want to cut SS/Medicare. That's what an adult would realize has to be done.
Nothing wrong in theory with SS, other than the money should draw interest.
Problem with SS is politicians have raided the funds as if they’re a personal piggy bank.
1
Posted on 3/14/24 at 9:14 pm to AlwaysPutsSeatDown
No better way to lose an election than talking about cutting social security. Might not be right, but it’s reality.
Posted on 3/14/24 at 9:42 pm to Revelator
quote:
No better way to lose an election than talking about cutting social security. Might not be right, but it’s reality.
Which is exactly why Trump or Biden or anyone else will never do it. I don't even know how you cut it...it is not like people are getting a lot of money.
Posted on 3/14/24 at 9:52 pm to MemphisGuy
Can I get what I have been paying into for 42 years
I have been paying into it since 1972. 52 years. I pd $137,000 my employers pd in $172,000, that’s over 300k. Nope I want mine
I have been paying into it since 1972. 52 years. I pd $137,000 my employers pd in $172,000, that’s over 300k. Nope I want mine
Posted on 3/14/24 at 9:58 pm to riverdiver
quote:
Nothing wrong in theory with SS
Nothing wrong in theory with socialism. The problem is when you try to put it into practice.
Posted on 3/14/24 at 10:00 pm to JimNat
quote:
Nope I want mine
It's not yours.
Your money paid for someone else to receive benefits. Someone else's money will pay for yours.
Like any other welfare/entitlement. Current taxpayers pay for current entitlement recipients.
The idea that it's "your" money is a sales job.
This post was edited on 3/14/24 at 10:03 pm
Posted on 3/14/24 at 10:02 pm to Revelator
quote:
No better way to lose an election than talking about cutting social security.
No better way for the country to end up bankrupt than refusing to cut SS/Medicare.
Eventually they will have no choice. I'm not disagreeing with your premise, but talk about it or not, someone's eventually going to have to actually do it.
Posted on 3/14/24 at 11:10 pm to La Place Mike
quote:
Dude! That is a lump sum benefit. The actual monthly benefit will be based on the higher wage earner's income.
Are you purposely being obtuse? What the frick good does $255 do? What possible death expense does that cover?
If you had a savings account… and you died… it would go to your named beneficiaries.
What happens to your lifetime of payments into ssi? It is a massive Ponzi scheme that robs families of a chance at generational wealth in exchange for enough to barely get by.
Posted on 3/14/24 at 11:33 pm to La Place Mike
quote:
I noticed you conveniently left out the part where I stated the money (15.3%) taken from our income over +45 years is compounded at 5%....
It doesn't read that way. Are you and your wife self employed?
Doesn't matter because you made the number up any way to try and prove a point.
The 5% compounded annually is in the post.
Proving a point is using simple mathematics on the compounded earnings of the Social Security and Medicare taxes that were paid by a couple who worked +45 years.
It's not uncommon for a married couple who remain employed over a 45 year period to earn over $3-4 million collectively.
15.3 % of 4 million is 612k, now take that and start compounding the SS and medicare taxes over 45 years and see what you get.
Posted on 3/14/24 at 11:42 pm to AlwaysPutsSeatDown
quote:well that's stupid. Most SS money goes to retirement age folks.
Social Security is a money grab for the stupid and the pretend disabled
Posted on 3/14/24 at 11:52 pm to AlwaysPutsSeatDown
I am self employed and pay the max into SS every year. I also qualify for a government pension, and my entire SS benefit will be wiped out by the windfall elimination.
I do pretty well, but not well enough that I don’t miss 19 gramd. SS can’t be ended soon enough.
I do pretty well, but not well enough that I don’t miss 19 gramd. SS can’t be ended soon enough.
Posted on 3/14/24 at 11:54 pm to La Place Mike
quote:
If the federal government would fork over between $1.5-2 million to cover the 15.3% of the total Social Security and Medicare taxes taken from the wife's and my lifetime earnings over the past 45 years
quote:
Damn son! You and your wife are both self employed and your's and your wife's combined income was north of 16 million?
Assuming from context that his wife and he need 1.5-2m back total. Which means 10-13m over the course of 45 years. Otherwise known as 250k a year...doesn't sound crazy to me
Posted on 3/15/24 at 5:44 am to Lsut81
quote:
Will happily give up what I've put in thus far if I don't have to contribute from now on.
This is the only thing that can stop the bleeding. Give people a chance to opt out in the middle of their careers. Leave it mandatory until age 40 to pay off all those closer to retirement. It will eventually phase out because it’s a bad economic deal.
FICA taxes are essentially a regressive tax. As many games as politicians play with tax rates, FICA is ignored. Your effective tax rate starts at 15.3% on your first and every dollar earned.
If a person made $30k each year for 40 years, and was forced to put 15.3% of their income in
a fund that paid 5% interest, they would have $550k+ at the end. That’s roughly enough to pay themselves that same $30k/year for the next 20 years. The math gets better the more you make (people that make more would be more likely to opt out, giving the plan more funds - resulting in the “rich” paying in much more than they get out). A person at retirement age now has a choice whether to keep earning, and have something to leave behind, to make gifts, contribute to charity, start a new business, etc. Who isn’t taking that deal over the current law? There is a goal and actual dollar figure at the end of that road. That has already been proven to motivate people with retirement accounts.
Social security is a scam. And I hate to say it, but those that grip onto their contributions so tightly and won’t hear about cutting it are selfish, essentially dooming their kids and grandkids into being stuck in the Ponzi scheme for long enough that they won’t hear about cutting it either. So my proposal is to give people an out when they can still see they were used and got squeezed, but young enough that they are not relying on the money, and old enough to know whether they won’t be able to out save the government option (that would still be available to those that contribute).
I do realize I’m lumping in Medicare into this equation, but similar improvements and choices could be implemented in that regard.
This post was edited on 3/15/24 at 5:49 am
Posted on 3/15/24 at 5:54 am to concrete_tiger
quote:
My favorite part of social security is that after a lifetime of paying into it… you die… and your spouse gets $255
It’s a bad deal, and it’s pretty easy to see that the math doesn’t add up, because the program is paying for more than just payments to retirees, the government is using the money for other reasons, SDI being the most obvious. Borrowing against it, rather than investing it would be the slightly less obvious reason.
Posted on 3/15/24 at 6:00 am to wackatimesthree
quote:
No better way to lose an election than talking about cutting social security.
No better way for the country to end up bankrupt than refusing to cut SS/Medicare.
There is such a massive disconnect between voters and reality. This is why we will continue to ride the status quo into hyperinflation. You cant win elections being honest, but you also cant keep things afloat by keeping bad campaign promises.
Its a feedback loop.
Posted on 3/15/24 at 8:44 am to AlwaysPutsSeatDown
quote:Here is the SRS transcript
Trumps own words
quote:
Posted on 3/15/24 at 10:40 am to Bass Tiger
quote:
15.3 %
You are not self employed so you didn't pay 15.3% in to the system. Your simple math still needs some work.
Posted on 3/15/24 at 10:52 am to SportTiger1
quote:
Which means 10-13m over the course of 45 years.
Him and his wife did not earn 10 to 13 million nor did he pay 15.3 into Social Security. What ever their earnings were their employer paid half of that 15.3%.
Posted on 3/15/24 at 12:53 pm to AlwaysPutsSeatDown
He just promised he wouldn’t touch Social Security or Medicare. Nice try dem troll.
Posted on 3/15/24 at 12:56 pm to Granola
quote:Certainly give the money back to those that have contributed before you pay the students loans of some lose who chose a feel-good-ism degree.
then give me all the money
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