re: Myth- “social security is guaranteed”.

quote:

---

I think there’s a widely held misconception that most boomers are wealthy / have significant assets. That is not the case

---

Holding that misconception includes boomers. The ones that have done it right act like their entire cohort has done it right when they are talking about successive generations.

I was told by my intro to business teacher in high school to never expect a penny from social security by the time I retire and to build my own portfolio that will pay me until the day I die - she showed us how to set up an etrade account in 1999. I've taken it to heart and am way way waaaaaaaay ahead of the curve of a majority of elder millenials.

Well if they arent hiding it to prevent paying a 37% federal income tax I doubt an additional 6% for SS would push them over the edge, but maybe some would.

I did mention raising the eligibility age by 3 years, which would have a huge positive impact on its long term solvency. I'm about the same age and always budgeted as though I'd never receive anything so im gonna be fine either way, but we are the exceptions to the rule.

quote:

---

I've taken it to heart and am way way waaaaaaaay ahead of the curve of a majority of elder millenials.

---

I am as well and you better start finding creative ways to hide it. In this thread, the boomers are openly advocating for at least another 6% tax on your assets to cover social security costs.

quote:

---

lot of people whine about socialism coming to America but don't hear them wanting to cut medicare and SS

---

It's precisely what the state designs its welfare programs to do. Force you to pay into something under false moral pretenses and requires you to rely on the state to provide for you later. Even if you are opposed to it in principle, the state has forced you to invest magnitudes of your own private wealth into it under the guise that you will get it on the backend as well. Then the state uses the money for whatever purposes it wants in the mean time with no concern for long term solvency. They can just use the money for other programs that promise other goods and services to people whose votes they want. It serves the short term ends of the political class. The only way to get rid of it is for everyone who has paid into it their entire lives to accept the massive theft of their personal wealth for nothing in return. Not an easy sell, especially to those who are relying on that money to live on in retirement. They have functionally coerced and implicated everyone by force into this scheme.

And for those blaming "boomers," I get that its easy to blame an entire generation but the fact is, it's just the political class again fricking everyone with false promises so that they can secure their own short term personal interests. They sell it as being for the "good of the people," the same way they always have and always will sell bullshite to the masses. You think subsequent generations are any less stupid and gullible? They pretty obviously aren't.

quote:

---

And there has never been a candidate or a party that has put forth a serious solution.

---

W did.

It was an attempt. But twenty seconds after he said it, it became obvious from the dimtard blowback that it was DOA.

If social security banked every dime contributed by workers it would be fully funded but it's not. It's an unfunded liability paid out with current worker contributions. By definition, that is a Ponzi scheme that will eventually fail. Too many payouts to people that did not pay into it along with this massive SSI and Medicaid fiasco full of fraud,

quote:

---

Well if they arent hiding it to prevent paying a 37% federal income tax I doubt an additional 6% for SS would push them over the edge, but maybe some would.

---

that’s the thing, we aren’t paying near 37%. No matter gross. But the 6%. That is straight off the top regardless.

Every adult should have the ability to voluntarily withdraw from SS if they choose to