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Message
re: I think it's time for America to cut social security altogether (serious)
Posted on 8/13/24 at 7:05 am to John Madden SuperFan
Posted on 8/13/24 at 7:05 am to John Madden SuperFan
I believe social security should be phased out based on numbers of years paid into the program and supported to that point.
Just a thought, but, in replacement, in stead of placing "social security" payments into coffers to be used by politicians, social security money should be invested into index funds in the stock market - reinvesting in America.
Also, the money that is put back should be able to be borrowed against for home downpayments, medical bills, and/or education of contributor or dependents.
Just a thought, but, in replacement, in stead of placing "social security" payments into coffers to be used by politicians, social security money should be invested into index funds in the stock market - reinvesting in America.
Also, the money that is put back should be able to be borrowed against for home downpayments, medical bills, and/or education of contributor or dependents.
0
Posted on 8/13/24 at 7:07 am to SlowFlowPro
Are you stupid
Posted on 8/13/24 at 7:07 am to SlowFlowPro
quote:
Now it's younger Gen X and Millennials who have the burden of reforming the (as you described) terrible program that Boomers refused to fix themselves.
I'm okay with reforming it as long as I'm grandfathered out of the solution. Boomers will die off soon enough.
Posted on 8/13/24 at 7:08 am to themunch
The money is taken out of work wages. It is tracked as my payments.
What makes it not for me?
What makes it not for me?
Posted on 8/13/24 at 7:09 am to aTmTexas Dillo
Stop with boomers. Look at Congress for misappropriation of funds.
Posted on 8/13/24 at 7:10 am to themunch
quote:
The money is taken out of work wages. It is tracked as my payments.
What makes it not for me?
Your taxes (not "payments") fund the SS distributions to others
Just like your other taxes go to Medicaid, Defense, various departments, bureaucrat salaries, etc.
You're describing exactly why the personalization of the program has to be eliminated or no reform is possible. The accurate description is just another tax we have to pay to fund other people, with government as the middle man.
That money you expect to (or do? I don't know how old you are) receive in the future is not "your" money. You're taking stolen money from a younger working generation. You're spending their money.
Posted on 8/13/24 at 7:11 am to themunch
quote:
Stop with boomers. Look at Congress for misappropriation of funds.
Absolutely. They can always #*#k up a wet dream.
Posted on 8/13/24 at 7:11 am to themunch
quote:
Look at Congress for misappropriation of funds.
Boomers have controlled Congress for decades. Tomato tomato
Posted on 8/13/24 at 7:11 am to SlowFlowPro
Ending SS is a non-starter. You're losing, getting a referendum, etc. You won't be able to find congressional support.
SS either is solvent or it fails at this point. You have a large portion of the electorate depending on it for financial security.
It's one of the many programs that benefits working poor, disabled, etc. who realize more benefits than inputs. It could be argued it likely hurts top 25% of earners over time.
Top 20-30% in contributions would likely be better served in the market. Those people usually don't factor in SS as part of their retirement plan anyhow. If they do, its a substantially lesser piece of their overall profile.
SS either is solvent or it fails at this point. You have a large portion of the electorate depending on it for financial security.
It's one of the many programs that benefits working poor, disabled, etc. who realize more benefits than inputs. It could be argued it likely hurts top 25% of earners over time.
Top 20-30% in contributions would likely be better served in the market. Those people usually don't factor in SS as part of their retirement plan anyhow. If they do, its a substantially lesser piece of their overall profile.
This post was edited on 8/13/24 at 7:12 am
Posted on 8/13/24 at 7:11 am to John Madden SuperFan
quote:
I think it's time for America to cut social security altogether (serious)
It would be really great to starve (serious) an entire generation of seniors who have paid into the system their entire adult lives so that they could not starve when they became old.
Republicans are really special, am I right?
Posted on 8/13/24 at 7:12 am to SlowFlowPro
You're taking stolen money from a younger working generation.
Posted on 8/13/24 at 7:13 am to SlowFlowPro
Not true.
Biden is yours.
Biden is yours.
Posted on 8/13/24 at 7:13 am to John Madden SuperFan
quote:
The problem is neither party wants to upset the boomer generation.
I'm sure some Gen X'ers will be pretty mad, too. The first wave of them will be eligible for SS in less than 3 years.
Posted on 8/13/24 at 7:14 am to TBoy
It takes a real idiot to think thats what is being discussed.
We already knew you were an idiot, you don’t have to keep reminding us
We already knew you were an idiot, you don’t have to keep reminding us
Posted on 8/13/24 at 7:14 am to SlowFlowPro
We are talking individuals and yes Congress did this to us all. 
Posted on 8/13/24 at 7:14 am to Tantal
quote:
It needs to be phased out over about a 40 year period to avoid screwing everyone that paid in.
That’s not how the Ponzi scheme works. You have to have new earners paying in or there isn’t enough money to pay people back that have paid in to it for decades.
Posted on 8/13/24 at 7:15 am to SlowFlowPro
quote:
Don't look at me. You should be pointing this out to all the people who think they did anything more than pay taxes into a redistribution program in the past.
You neglected to mention “involuntary “ or “forced”
Posted on 8/13/24 at 7:15 am to Dawgfanman
This thread is full of people that have absolutely no clue how the SS trust fund or program itself works. Jesus.
The government can’t raid the trust fund. The trust invests in treasuries just like a typical pension would. There is no raiding it for other projects. The problem is the program has run an annual deficit since 2010 when inflows were outpaced by outflows. The trend has only gotten worse with life expectancy and others issues.
Ultimately running a pension system is very expensive, hence the reason many private companies are out of the business. The government is not unique in their struggles.
The government can’t raid the trust fund. The trust invests in treasuries just like a typical pension would. There is no raiding it for other projects. The problem is the program has run an annual deficit since 2010 when inflows were outpaced by outflows. The trend has only gotten worse with life expectancy and others issues.
Ultimately running a pension system is very expensive, hence the reason many private companies are out of the business. The government is not unique in their struggles.
Posted on 8/13/24 at 7:16 am to TBoy
quote:
It would be really great to starve (serious) an entire generation of seniors who have paid into the system their entire adult lives so that they could not starve when they became old.
It’s better that all future generations be made indentured servants, providing those seniors with basic needs they had a lifetime to prepare to provide.
Democrats love indentured servitude.
Posted on 8/13/24 at 7:16 am to TBoy
quote:
Republicans are really special, am I right?
Actually democrats control the destiny of SS and any reforms. It is almost entirely up to the democrats.
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