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Message
re: In just a few years, the average retiree will be receiving 37% more in SS than he paid in
Posted on 2/25/24 at 11:19 am to HailHailtoMichigan!
Posted on 2/25/24 at 11:19 am to HailHailtoMichigan!
Back when Reagan was president they discussed raiding the retirement age a month at a time. By now they would have raised it enough to help balance things out.
It would have hurt folks like myself, but I felt it was a good idea because it helped our nation as a whole.
Of course they failed to do anything and here we are.
It would have hurt folks like myself, but I felt it was a good idea because it helped our nation as a whole.
Of course they failed to do anything and here we are.
1
Posted on 2/25/24 at 11:22 am to doubleb
If you raise the retirement age till till everyone is dead then that would be a solution.
And it has been raised to 67.
And it has been raised to 67.
This post was edited on 2/25/24 at 11:23 am
Posted on 2/25/24 at 11:28 am to RiverCityTider
quote:
I'm confused as to why you all would want to pay for that fraud out of those who's earnings were confiscated.
Are you under the impression I'm a fan of SS? I'm not. SS is generally a ripoff.
I'd like for the obligatory SS program to be shutdown in favor of an alternative employer match program, perhaps offering SS as a choice along with privately held retirement options.
That will NEVER happen though.
Why?
Because SS is primarily a government benefit. The government is not going to shutter a program it benefits from.
In the mid-1930's, FDR needed to borrow money to fund the New Deal. During the depression, few lenders were interested in buying US bonds/treasuries. SS was a means of forcing every working American to lend FDR money (buy bonds) under the auspices of a retirement program. That was the design then. It is the design now.
Additionally, as ROI in the SSTF is whatever the government says it is, diminished ROI in the SSTF can also be used to manipulate the cost of other US debt instruments lower.
Posted on 2/25/24 at 11:28 am to Godfather1
quote:
Fine. Just give me back what I’ve put into it the past 40 years so I can invest it myself. As a gesture of what a nice guy I am and how much I want to help, I’ll even forego the interest on all of that.
I've said this. If they want to give me what I paid in with no interest, I would sign off and take the cash now and pay for building a new house. Im 46 and have been paying SS wince I was 12. I account for close to 250k so far and I went through the tech boom. If it were invested in a simple index fund as I put it in, it would probably worth a few million with interest at this point.
Posted on 2/25/24 at 11:31 am to RiverCityTider
quote:
And it has been raised to 67.
I took mine at 65. You can still take it at 65.
If they had started to raise the age in the 80s it would be over 67 by now.
Posted on 2/25/24 at 11:39 am to moneyg
quote:
. But I know taking it out of their checks and then giving it back decades alter isn’t welfare.
Sure, but that's now how SS operates.
quote:
But the guy you are being a dick to should just turn it around on you and suggest that you should just pay more than you do now to keep SS solvent. He kept up his end of the bargain. Why shouldn’t you?
What bargain? Welfare programs can be reformed.
I've also paid in over 20 years
quote:
Your complaints about market fluctuation are comical.
No "complaints" exist.
I'm telling you why those policies aren't palatable for a program like this. Government isn't about efficiency.
Posted on 2/25/24 at 11:41 am to HailHailtoMichigan!
I’ve been gainfully employed continuously since 1983. I’ve never been unemployed. I’ve paid in an absolute fortune during my lifetime. If I had been able to invest that money in an index fund that mirrored the S&P 500, I’d be an incredibly wealthy man right now. I followed the rules and made my own investments and earned a pension. I’ll be damned if I’m willing to give it away now without a fight.
I’ve voted in every election in my life for the Republican because up until Bush, they were actually fiscally conservative. Now it’s a shite show and nobody seems to care anymore.
Personally, I think it needs to be transformed into a program like the Federal Thrift Savings Plan TSP that give people investment options. If you’re a deadbeat who works under the table then tough shite.
I’ve voted in every election in my life for the Republican because up until Bush, they were actually fiscally conservative. Now it’s a shite show and nobody seems to care anymore.
Personally, I think it needs to be transformed into a program like the Federal Thrift Savings Plan TSP that give people investment options. If you’re a deadbeat who works under the table then tough shite.
Posted on 2/25/24 at 11:41 am to Warfarer
quote:
If they want to give me what I paid in with no interest, I would sign off and take the cash now
I'll also waive my Section 8 benefits if they give me back all the taxes I've paid for it plus interest. Food stamps, too.
Posted on 2/25/24 at 11:42 am to LSUwag
quote:
I’ve been gainfully employed continuously since 1983. I’ve never been unemployed. I’ve paid in an absolute fortune during my lifetime. If I had been able to invest that money in an index fund that mirrored the S&P 500, I’d be an incredibly wealthy man right now. I followed the rules and made my own investments and earned a pension. I’ll be damned if I’m willing to give it away now without a fight.
This paragraph is why SS is going to become insolvent.
Posted on 2/25/24 at 11:43 am to dgnx6
quote:
Clinton cut taxes which saw the economic boom he gets credited for. Because he cut taxes.
They also robbed from the social security fund to balance the budget.
fricking clowns.
Posted on 2/25/24 at 11:44 am to HailHailtoMichigan!
So what would the trust fund look like had they not robbed it and were allowed to invest said fund like normal people would?
Posted on 2/25/24 at 11:44 am to SlowFlowPro
quote:
I'll also waive my Section 8 benefits if they give me back all the taxes I've paid for it plus interest. Food stamps, too.
While we’re at it can I get back all the school district taxes i pay since I don’t use them?
Posted on 2/25/24 at 11:45 am to billjamin
quote:
While we’re at it can I get back all the school district taxes i pay since I don’t use them?
Let's declare bankruptcy, too
Posted on 2/25/24 at 11:46 am to SlowFlowPro
quote:
I'll also waive my Section 8 benefits if they give me back all the taxes I've paid for it plus interest. Food stamps, too.
I don't give a shite, they can keep whatever they stile from my checks for years if they would just end it.
Someone has to bite the bullet and this Gen Xer is willing to for the betterment of this country.
Posted on 2/25/24 at 12:10 pm to RiverCityTider
quote:
You pay your fricking student loans back like I did and leave my shite alone.
You pay your fricking National Debt back and the people who took out student loans pay the loans back
Fair is fair
Posted on 2/25/24 at 12:16 pm to SlowFlowPro
quote:
In just a few years, the average retiree will be receiving 37% more in SS than he paid in by SlowFlowProquote:I’ve been gainfully employed continuously since 1983. I’ve never been unemployed. I’ve paid in an absolute fortune during my lifetime. If I had been able to invest that money in an index fund that mirrored the S&P 500, I’d be an incredibly wealthy man right now. I followed the rules and made my own investments and earned a pension. I’ll be damned if I’m willing to give it away now without a fight. This paragraph is why SS is going to become insolvent.
It’s liberals like you that have prevented SS from being reformed. GWB called for it in a SOTU address to copy the federal TEP and you guys lost your socialist minds. We’d be fine right now if you democrats hadn’t prevented reform.
Don’t blame me, Pal. Blame yourself.
Posted on 2/25/24 at 12:20 pm to LSUwag
quote:
It’s liberals like you t
quote:
GWB called for it in a SOTU address to copy the federal TEP and you guys lost your socialist minds.
So did plenty of Republicans. I already posted the data on how unpopular that policy was. over 60% disapproval.
quote:
Don’t blame me, Pal. Blame yourself.
I want the whole thing ended today. Divide up whatever is left in the trust and distribute it according to a matrix based on contributions.
Very "liberal" take
You can look at this very thread to see all the "hardcore conservatives" who demand the welfare continue.
This post was edited on 2/25/24 at 12:21 pm
Posted on 2/25/24 at 12:25 pm to LSUwag
quote:
If I had been able to invest that money in an index fund that mirrored the S&P 500, I’d be an incredibly wealthy man right now. I followed the rules and made my own investments and earned a pension. I’ll be damned if I’m willing to give it away now without a fight.
agreed. even if they wanted to pay you back what you payed in you lost all that time and returns you would have made had it been invested like you wanted to.
Posted on 2/25/24 at 12:26 pm to Fat Bastard
quote:
even if they wanted to pay you back what you payed in you lost all that time and returns you would have made had it been invested like you wanted to.
I have lost all the money I've been taxed to pay for Section 8, too...and all the potential investment returns I could have had.
Posted on 2/25/24 at 1:41 pm to SlowFlowPro
I don't understand why the limit is so low (or exists at all TBH)
You'd think with all the 1% rhetoric of the last decade it would have been an incredibly low hanging fruit. Yet nothing changes.
You'd think with all the 1% rhetoric of the last decade it would have been an incredibly low hanging fruit. Yet nothing changes.
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