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Posted on 8/13/24 at 7:17 am to themunch
quote:
Not true.
Biden is yours.
Posted on 8/13/24 at 7:18 am to cadillacattack
quote:
You neglected to mention “involuntary “ or “forced”
All taxes are forced.
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.
Posted on 8/13/24 at 7:19 am to John Madden SuperFan
The late great P.J. O'Rourke said that SS was a doomed Ponzi scheme and needed to be dismantled.
This was in the 90's.
This was in the 90's.
Posted on 8/13/24 at 7:20 am to themunch
quote:
What makes it not for me?
When you die, your family cannot inherit the money as if it were yours; rather, it goes back into the coffers of Congress to be wasted on others.
Posted on 8/13/24 at 7:20 am to slackster
quote:
The trust invests in treasuries just like a typical pension would
Who pays the investors of treasuries? How is that money obtained?
Posted on 8/13/24 at 7:21 am to SlowFlowPro
Biden represents the Boomers you speak of. Not this one.
Posted on 8/13/24 at 7:22 am to John Madden SuperFan
quote:
The problem is neither party wants to upset the boomer generation. And I'm totally against raising the SS tax by 2% just so it's intact for another 75 years.
Why are we procrastinating about a problem that's been plaguing us since 1989? Are both parties afraid of losing voters?
How about you pay in for 40 years and then see how you feel?
Are you willing to pardon the gubmint for the same thing that Bernie Madoff went to prison for?
Posted on 8/13/24 at 7:22 am to AUauditor
My spouse
I would not expect my children to get mine.
I would not expect my children to get mine.
Posted on 8/13/24 at 7:23 am to AUauditor
What do you make of the inheritance tax? At fity percent.
Posted on 8/13/24 at 7:23 am to Broadside Bob
quote:
Are you willing to pardon the gubmint for the same thing that Bernie Madoff went to prison for?
Who would you like to see sent to prison? Just like Madoff situation, not everyone can be made whole when a Ponzi scheme collapses
Posted on 8/13/24 at 7:23 am to themunch
quote:
Biden represents the Boomers you speak of. Not this one.
He's one of many. Been in the Senate since 1972
Plenty of time to work on this problem.
Millennials are too young to have gained enough positions of power in government to do anything about this, yet. Boomers and old Gen X have dominated for decades.
Posted on 8/13/24 at 7:24 am to Broadside Bob
quote:
How about you pay in for 40 years and then see how you feel?
As opposed to paying in for 40 years and getting less than you're likely to receive? That's more fair?
Posted on 8/13/24 at 7:24 am to SlowFlowPro
You are starting to track in the right direction
Posted on 8/13/24 at 7:26 am to IMSA_Fan
quote:
They just need to bump the age you can start drawing out of it to 68/69 and be done with it. You will create a societal crap show if you straight up cut it
Tell me you haven’t been paying into this scam for 30 years without telling me you haven’t been paying into this scam for 30 years.
I want some ROI. I could legit be retired if my return on SS was 1/2 of what it was in the market.
I’m open to discussing options to curb it into getting rid of it, but you can’t just slit the throat of folks that have been paying into it for decades
Posted on 8/13/24 at 7:27 am to Dawgfanman
quote:
Who pays the investors of treasuries? How is that money obtained?
The government pays the interest.
Treasuries are created when the government borrows money.
People misunderstand and think their money would be there if then government hadn’t taken it, but that’s simply untrue. It’s not like we’re running out of money because of the IOUs, we’re running out because of the math.
Posted on 8/13/24 at 7:30 am to IMSA_Fan
quote:
They just need to bump the age you can start drawing out of it to 68/69 and be done with it. You will create a societal crap show if you straight up cut it
You do know there is full retirement age and 62 right? And a bird in the hand is worth two in the bush. Take it at 62.
This post was edited on 8/13/24 at 7:33 am
Posted on 8/13/24 at 7:32 am to La Place Mike
“No you haven't. That means you would have earned roughly $3,230,000 over the past 30 years.”
At least you’re good at math
At least you’re good at math
Posted on 8/13/24 at 7:38 am to ItNeverRains
quote:
you can’t just slit the throat of folks that have been paying into it for decades
quote:
They just need to bump the age you can start drawing out of it to 68/69
quote:
I’m open to discussing options to curb it into getting rid of it,
If you won't entertain a logical shifting of age eligibility, you're not really open to discussing much regarding the program. Logically, at least.
The program was not designed to provide for seniors for 20+ years
Posted on 8/13/24 at 7:39 am to slackster
quote:
The government pays the interest.
Where does the govt get money?
quote:
People misunderstand and think their money would be there if then government hadn’t taken it, but that’s simply untrue. It’s not like we’re running out of money because of the IOUs, we’re running out because of the math.
The govt takes money from people, promises to pay them something at a later date. It then invest this money, in IOUs that are also paid for by the same group of people. And this money is something it can simply print more of as it sees fit.
It’s a big circle jerk.
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