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Started By
Message
1
Posted on 4/23/20 at 10:16 am to BigPerm30
quote:
Good. Let it fail.
I’m ok with that. Just stop deducting from my paycheck. Let me invest my own fricking money.
It won’t fail and the forced confiscation of your income will not stop. In fact it will increase to whatever % is required to keep the program going and that’s the problem with big Marxist programs.
Posted on 4/23/20 at 10:17 am to Tigertracks
quote:
Congress will either raise the age for eligibility or just fund the shortage.
Fund it? Hell. Just pay back the IOUs.
The biggest blunder of all blunders was to open Social Security up for General Fund Borrowing.
About 2 trillion had been raided from SS since The lib president Lyndon Johnson began dipping his hands in it.
Posted on 4/23/20 at 10:17 am to Apollyon
quote:
Good. Let it fail.
They won't. They will raise the exempt number upwards and will raise the eligibility age. By then they will tax up to 250K and raise the age to 75 before you can get benefits.
Posted on 4/23/20 at 10:20 am to Diseasefreeforall
This is a good time to test the boomers "get back to work" narrative. They can be the first wave.
If they die off less SS to be paid.
If they live then the economy can fully restart.
Win Win
If they die off less SS to be paid.
If they live then the economy can fully restart.
Win Win
Posted on 4/23/20 at 10:21 am to boogiewoogie1978
quote:
That's YOUR money in there. Why would you want anything with your money in it to fail?
Because I'm unlikely to ever see a dime back from this fricking ponzi scheme.
So I want the ponzi scheme shut down.
Posted on 4/23/20 at 10:23 am to BigPerm30
quote:
I’m ok with that. Just stop deducting from my paycheck. Let me invest my own fricking money
Boom! It’s bull crap that Americans are forced to enter this system.
Posted on 4/23/20 at 10:25 am to aTmTexas Dillo
quote:Nah. They'll means test it first. Democrats have been dreaming of that for decades. More money to buy votes. They can tell the moochers "Look, we're taking from those greedy 'rich' people to help you".
They won't. They will raise the exempt number upwards and will raise the eligibility age.
And... it's a backdoor way to tax 401Ks. Raising taxes specifically on 401Ks is not politically pallatable. So instead they'll just cut your SS benefits if you have a fat 401K.
Posted on 4/23/20 at 10:29 am to Taxing Authority
quote:
They'll means test it first.
What about those of us who are retired and drawing benefits? I'd be means tested out but I get my mailbox money every month already. I took it as soon as I could.
I'd go with raising the taxable amount and raising the eligible age now that I'm getting my SS. I prefer to be grandfathered in to continuing benefits as I receive them now.
Signed,
Boomer
Posted on 4/23/20 at 10:30 am to boogiewoogie1978
quote:
This is a good time to test the boomers "get back to work" narrative. They can be the first wave. If they die off less SS to be paid. If they live then the economy can fully restart. Win Win
I'm a proud Boomer. I've yet to miss a day of work keeping your internet and cell service running.......You can keep on talking Boomer nonsense like this generation is what's wrong with America but you come off as a real dunce. Do a little research soy boy and you'll find the Boomer generation is why SS has remained somewhat solvent....because the Boomer generation has paid a disproportionate amount into the fund which helped to fund the SS payments to a lot folks prior to the Boomer generation who paid very little into the fund.
Posted on 4/23/20 at 10:31 am to BigPerm30
quote:The sad part is so many americans would totally set for retirement if they were allowed to keep their own money.
I’m ok with that. Just stop deducting from my paycheck. Let me invest my own fricking money.
I did the math in my early 30s and realized I'd already paid in more than I'd ever get out at even horrible ROI.
The real sad thing is all that capital is going to government. If it were all (or mostly) invested in the capital markets we'd have more capital available for economic expansion and wealth building to workers. Hey millennials -- wanna know why your opportunities are limited?
Posted on 4/23/20 at 10:33 am to Taxing Authority
An old timer here & am not embarrassed at all to finally be getting BACK my money that was taken out of my paychecks for 50 + yrs.What does piss me off is that Congress has its own, lots better, retirement program & those politicians could care less about both the mandatory payroll deductions & viability of SS in the future. They also have their own ,lots better, health plan.
Posted on 4/23/20 at 10:38 am to Taxing Authority
quote:
I did the math in my early 30s and realized I'd already paid in more than I'd ever get out at even horrible ROI.
I've started a little experiment where in retirement I invest my SS into the stock market. It's a continuation of the way I invested through my working life. I figure if I'm lucky I will live about 25 years. And the plan is to grow my SS pot with the market. Kind of a bit like what GW Bush wanted us to consider years ago. Now I've taken a hit from the market downturn but my current dollar cost average investing is buying stock at really low prices. If I don't need the money for long term care when I get senile, I may give it to charity in the end.
Posted on 4/23/20 at 10:39 am to boogiewoogie1978
quote:
This is a good time to test the boomers "get back to work" narrative. They can be the first wave. If they die off less SS to be paid. If they live then the economy can fully restart. Win Win
So in return I can stop my contributions to SS and take my employer matched 12.5 percent and place it in private investments... correct?
And we can dramatically up the requirements for disability correct??
And while we are at it.... we can solidify a stringent work requirement for welfare recipients... right?
This post was edited on 4/23/20 at 10:42 am
Posted on 4/23/20 at 10:45 am to CleverUserName
quote:
About 2 trillion had been raided from SS since The lib president Lyndon Johnson began dipping his hands in it.
This, and most people dont realize that. Johnson signed the bill but did not activate, every president since has, starting with jfk. They could not touch the principal but they could dip the interest. Its the dirty little secret no one on either side of the aisle wants to talk about.
I hear the argument, people are living longer. Do you think people who put together the program did not have actuary charts?????
Ironically, or predictably, states have followed the same program, only they have robbed the principal as well.
But this same govt makes companies submit to pensioners every year proof that they have the funds on hand to cover their retirement....do as I say not as I do.
Seriously, on this board, how many of you actually realized the fed govt has been dipping into it for over 50 years and thats the problem, not old people.
Posted on 4/23/20 at 10:47 am to Diseasefreeforall
lol social security wasn't going to survive the boomers anyway. As people under 60 we're all just getting robbed every paycheck.
Posted on 4/23/20 at 10:47 am to trinidadtiger
quote:
Seriously, on this board, how many of you actually realized the fed govt has been dipping into it for over 50 years and thats the problem, not old people.
You mean there is really no trust fund lock box?
Posted on 4/23/20 at 10:49 am to Keltic Tiger
quote:
An old timer here & am not embarrassed at all to finally be getting BACK my money that was taken out of my paychecks for 50 + yrs.What does piss me off is that Congress has its own, lots better, retirement program & those politicians could care less about both the mandatory payroll deductions & viability of SS in the future. They also have their own ,lots better, health plan.
I've calculated the SS money the wife and myself have paid in over 40 years and our employers match....if we had that money invested in a simple mutual fund for 40 years containing a mix of stocks in the S&P 500 we would be easily in the 3-4% of the wealthiest Americans.
Posted on 4/23/20 at 10:51 am to LB84
quote:
lol social security wasn't going to survive the boomers anyway. As people under 60 we're all just getting robbed every paycheck.
You were getting robbed but it wasn't due to payments of SS going out to Boomers....read a little and understand where the SS money was siphoned off for other government "needs".
Posted on 4/23/20 at 10:54 am to Diseasefreeforall
I never expected to see one cent of SS, so I don't really care when it fails.
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