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Started By
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re: Social security to run out of money earlier than thought, trustees calculate
Posted on 3/31/23 at 10:49 pm to HailHailtoMichigan!
Posted on 3/31/23 at 10:49 pm to HailHailtoMichigan!
They’ll just raise the fica limit at some point. After that they’ll “means test” people with substantial assets. If you are responsible and actually save for retirement you’ll be fricked over but the system will stay solvent.
2
Posted on 3/31/23 at 10:52 pm to Drizzt
quote:
raise the fica limit at some point
I'm shocked it hasn't already happened, but I also know 2/3 of the posters in this thread have no idea what you're talking about. Especially HHTM.
Posted on 3/31/23 at 11:09 pm to HailHailtoMichigan!
You’re a liar, scumbag
Posted on 3/31/23 at 11:24 pm to HailHailtoMichigan!
Yawn
Posted on 3/31/23 at 11:27 pm to HailHailtoMichigan!
quote:
BREAKING: U.S. Social Security funds are projected to be depleted 2033, year earlier than previous estimate, per Reuters.
Old news to those who’ve been paying attention.
This post was edited on 3/31/23 at 11:28 pm
Posted on 4/1/23 at 4:15 am to Bass Tiger
You do realize the federal govt ran out of money decades ago, yet still manages to spend far more than it takes in every year??????
SS aint the problem.
SS aint the problem.
Posted on 4/1/23 at 5:13 am to HailHailtoMichigan!
Hey!
HailHailtoMichigan!
GET THIS THROUGH YOUR HEAD!
Our CURRENT BUDGET runs at a GREATER DEFICIT than SS would run for the next 100yrs even if it is unaltered.
GOT IT?
We are currently running a 28% deficit. That will increase as cost of carry skyrockets with interest rates.
SS does not contribute 1¢ to our deficit at this point. NOT A PENNY!
ARE WE CLEAR?
Yet, you are zombie walking, following the politicians SS shiny object, like a cow led by its nose ring.
HailHailtoMichigan!
GET THIS THROUGH YOUR HEAD!
Our CURRENT BUDGET runs at a GREATER DEFICIT than SS would run for the next 100yrs even if it is unaltered.
GOT IT?
We are currently running a 28% deficit. That will increase as cost of carry skyrockets with interest rates.
SS does not contribute 1¢ to our deficit at this point. NOT A PENNY!
ARE WE CLEAR?
Yet, you are zombie walking, following the politicians SS shiny object, like a cow led by its nose ring.
quote:Only if you decide not to shrink the program for yourself.
we will be forced to accept huge tax increases in 15 years or so.
Posted on 4/1/23 at 5:17 am to Bamajedi
quote:
I'm almost 50 and not counting on SS, but I figure my fellow gen x kids should see a possible rebound. Once all the boomers die off the number of SS recipients should be significantly reduced. I suppose getting the younger folks to work gainful employment and pay taxes may still be an issue though.
I don't even hold out hope for a rebound myself.
Pretty jelly of my children's mother. She's a teacher and doesn't pay into this pyramid scheme. Luckyyyy.
Posted on 4/1/23 at 5:57 am to HailHailtoMichigan!
Drink acid MF
Posted on 4/1/23 at 6:35 am to AquaAg84
quote:And the newer generations have zero desire to rise above the rest so they're just normies looking to victim blame for their own failures to thrive rather than get off their asses and accomplish something on their own.
I suppose ignorance and disrespect is now the now the norm.
That's how things dysfunctionally "work" nowadays.
Posted on 4/1/23 at 6:46 am to Chief One Word
quote:
Sure glad I took my SS at 62.
I think that's what I'm going to do. I have a little less than 2 years before I turn 62 and I think I'm going to go ahead and start getting mine while it's still there to get and probably try to make a little under the table money here and there.
Posted on 4/1/23 at 6:52 am to HailHailtoMichigan!
All that old people welfare going to dry up on the greedy boomers
Posted on 4/1/23 at 6:53 am to HailHailtoMichigan!
quote:
BREAKING: U.S. Social Security funds are projected to be depleted 2033, year earlier than previous estimate, per Reuters.
Of course it will…because I’ll be 62 in 2033.
Posted on 4/1/23 at 6:59 am to LemmyLives
quote:
How's your IRA/401k doing? Take your life out of the hands of others.
You’re missing the point. It’s not like we haven’t known we were going to get screwed, it’s the frustration of knowing we’re being forced to support the fricking hippies who gave us the shite show currently residing on Capital Hill. It’s theft.
Posted on 4/1/23 at 7:02 am to AquaAg84
quote:
And those also with derogatory and disrespectful comments toward the Boomer generation,well I suppose ignorance and disrespect is now the now the norm.
Pelosi, Schumer, Biden, McConnell, Graham, Romney, Cheney…all boomers.
Posted on 4/1/23 at 7:03 am to NC_Tigah
quote:
GET THIS THROUGH YOUR HEAD!
Our CURRENT BUDGET runs at a GREATER DEFICIT than SS would run for the next 100yrs even if it is unaltered.
GOT IT?
We are currently running a 28% deficit. That will increase as cost of carry skyrockets with interest rates.
SS does not contribute 1¢ to our deficit at this point. NOT A PENNY!
ARE WE CLEAR?
So doing nothing on SS is OK?
So doing nothing on the budget is OK?
I thought this is what we elected politiicians to do.
This post was edited on 4/1/23 at 7:08 am
Posted on 4/1/23 at 7:04 am to Drizzt
quote:
They’ll just raise the fica limit at some point. After that they’ll “means test” people with substantial assets. If you are responsible and actually save for retirement you’ll be fricked over but the system will stay solvent.
Pisses me off every January when it kicks back in. I’ll get means tested right the frick out. The next shoe to drop is when they figure out how to frick me out of my 401(k) and IRA.
This post was edited on 4/1/23 at 7:05 am
Posted on 4/1/23 at 7:18 am to HailHailtoMichigan!
So our government creates a tax(Social Security) which is set aside. Upon retirement, those that paid in will receive payments.
The government spends the money which has been set aside so that none is left for those who contributed upon retirement.
That's a crime. How long before some form of revolution explodes? How much longer will the populace allow the federal government to piss away our money?
The government spends the money which has been set aside so that none is left for those who contributed upon retirement.
That's a crime. How long before some form of revolution explodes? How much longer will the populace allow the federal government to piss away our money?
Posted on 4/1/23 at 7:22 am to Sidicous
quote:
And the newer generations have zero desire to rise above the rest so they're just normies looking to victim blame for their own failures to thrive rather than get off their asses and accomplish something on their own.
Sounds like Socialism. The concept is being taught in schools, that everyone deserves an equal share. Why have we tolerated this leftist ideology? It's destroying our nation.
Posted on 4/1/23 at 7:31 am to HailHailtoMichigan!
When does the money for welfare, illegals, pork projects and Ukraine run out?
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