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Started By
Message
re: Social Security: We are run by imbeciles. Thieving imbeciles.
Posted on 3/31/26 at 1:54 pm to Covingtontiger77
Posted on 3/31/26 at 1:54 pm to Covingtontiger77
Reforming social security would be the single greatest policy achievement.
Social security should be more of a 401k style contribution, and I dont have a problem with it being mandated since too many people in this country wouldnt save for retirement otherwise. 5% from employee, 5% from employer into Russell 3000, accessible when you turn 55.
Would be jet fuel for the economy (mass investment into private sector), and someone who made median income their entire career would retire with millions instead of hoping they live long enough to collect a few hundred thousand from SS.
The downside is inflation would uptick (probably heavily), but that would make it cheaper to pay down existing debts
Social security should be more of a 401k style contribution, and I dont have a problem with it being mandated since too many people in this country wouldnt save for retirement otherwise. 5% from employee, 5% from employer into Russell 3000, accessible when you turn 55.
Would be jet fuel for the economy (mass investment into private sector), and someone who made median income their entire career would retire with millions instead of hoping they live long enough to collect a few hundred thousand from SS.
The downside is inflation would uptick (probably heavily), but that would make it cheaper to pay down existing debts
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Posted on 3/31/26 at 1:56 pm to DeathByTossDive225
quote:That's not how Ponzi schemes work.
Cool. If they get rid of it, better fricking pay me back every cent I paid in.
Posted on 3/31/26 at 2:06 pm to Covingtontiger77
The founding fathers brilliantly designed the very foundations of this nation so that it could sustain even in times of the American people electing conplete idiots to run the country.
What they didn't anticipate was a highly secretive meeting of Congress members and big bankers on Jeckyll Island in 1910 that led to a very shady and questionable passage of the Federal Reserve Act in 1913. That is the key sequence of events where everything started going wrong, and ultimately resulted in formation of the myriad agencies and administrations we see today that are wholly corrupt to the core.
I'm off on a tangent here I know, but there's just a lot of forgotten history that led to everything happening today. It was all predictable if we'd all just been taught the truth.
What they didn't anticipate was a highly secretive meeting of Congress members and big bankers on Jeckyll Island in 1910 that led to a very shady and questionable passage of the Federal Reserve Act in 1913. That is the key sequence of events where everything started going wrong, and ultimately resulted in formation of the myriad agencies and administrations we see today that are wholly corrupt to the core.
I'm off on a tangent here I know, but there's just a lot of forgotten history that led to everything happening today. It was all predictable if we'd all just been taught the truth.
Posted on 3/31/26 at 2:55 pm to DeathByTossDive225
quote:
pay me back every cent I paid in.
You are on track for dumbest poster award.
Posted on 3/31/26 at 2:57 pm to TideCPA
quote:
That's not how Ponzi schemes work.
It's not a Ponzi scheme though. Social security is legal and Ponzi schemes are illegal. So social security can't be a Ponzi scheme. That is the logic behind it.
Posted on 3/31/26 at 3:03 pm to DeathByTossDive225
quote:I have some bad news for you. It stopped being your money the day the government took it. It was never a personal savings account.
If they get rid of it, better fricking pay me back every cent I paid in.
Posted on 3/31/26 at 3:05 pm to SlowFlowPro
quote:Yup. They think they are hurting “the government” they are really future taxpayers of all income strata.
People are like you are why this welfare scam will continue and bankrupt your children and grandchildren.
Posted on 3/31/26 at 3:40 pm to superwolf
quote:
It is stunning that you can pay into it for 45-50 plus years & die in your 60's & no one in your family get any of it if you are single.
When first enacted the average lifespan was UNDER 65. It was initially designed not to be able to collect from.
Posted on 3/31/26 at 3:47 pm to La Place Mike
quote:SS ROI is ~3% for the last 45yrs. Meaning for every $1 put in as a 22y/o 45yrs ago, a current 67y/o receives ~$3.60. If that same $1 was put into an S&P account with reinvested dividends, it would be worth more than $100 today.
I would love to see how you arrived at this figure.
Obviously, that differential closes as years toward retirement accrue.
In terms of median lifetime contributions and ROI, SS vs S&P, the monthly differential would run about $2K vs $8.5K, given similar actuarial distributions, IIRC.
As an aside, if SS ROI simply approximated 30yr Treasury ROI over the same time span, the SSTF would be nearly double what it is now.
This post was edited on 3/31/26 at 3:48 pm
Posted on 3/31/26 at 4:17 pm to Covingtontiger77
I’ve written papers, been part of panel discussions and talked to politicians about these issues since my college days and one thing is clear. The messaging has been overly complicated with numbers, graphs, projections and hard data and when you don’t have broad support on an issue like this, the messaging only helps when it’s simple and digestible to the average American mind.
Al gore actually brought forth a simple way to look at this with his “lock box talk” but unfortunately this isn’t an issue that can be used in presidential elections as any and all talk of reform will be caste as killing off granny and taking her fixed income away.. plus al gore is a terrible messenger.
Al gore actually brought forth a simple way to look at this with his “lock box talk” but unfortunately this isn’t an issue that can be used in presidential elections as any and all talk of reform will be caste as killing off granny and taking her fixed income away.. plus al gore is a terrible messenger.
Posted on 3/31/26 at 4:19 pm to SlowFlowPro
quote:To tame the beast, one needs to understand its nature.
People are like you are why this welfare scam will continue and bankrupt your children and grandchildren.
To understand this beast, one needs to know who the beneficiary is. "People like you" are not the beneficiary. Au contraire, "people like you" got ripped off to the tune of $96.40+/per $1 contributed over their work life. They are the beast's biggest victims.
The beneficiary is Uncle Sam. ITR, there is zero blame differential in SS vs every other deficit. All is on the politicians each of us elected.
Posted on 3/31/26 at 4:21 pm to Taxing Authority
quote:
People are like you are why this welfare scam will continue and bankrupt your children and grandchildren.
Yup. They think they are hurting “the government” they are really future taxpayers of all income strata.
What the frick? I didn't make the comment he's replying to, but I agree with it. "They", meaning people like ME, are the reason the scam will continue, and the country will go bankrupt?!?!?!
People like ME are the bad guy for wanting back the money I put into the system? What if I only demanded they run actuaries and just give me what they deem that I would have gotten? Am I still the bad guy then?
Or is my only recourse to just accept getting nothing at all AND not bitch about it? The former may not be an option, but the latter is an option. And I WILL bitch about it. Frankly, you should be happy that's all I'll do. I don't think others will choose to handle things by merely complaining on a message board and to anyone who will listen.
Me?!?!? The guy who's been funding this BS scam for decades through no choice of my own, is the bad guy here for merely wanting something back?!?!
GFY.
BTW, I sincerely apologize if I'm misunderstanding what you're saying.
Posted on 3/31/26 at 4:21 pm to DeathByTossDive225
quote:
Lol dream on. There are only two options: reimburse every cent I paid into it or I collect the benefit for as long as people are collecting SS. Whatever third option you’re thinking of here can be summarized as “riots”.
Idk if you meant to quote the portion of his post that you did but you missed his point.
Posted on 3/31/26 at 4:28 pm to el Gaucho
quote:What an effing useful idiot you are! Goodness!
Boomers love social security because millenials have to pay for it
Do you have even a smidgen of self awareness?
You've been disassembled on this subject more often than Kamala spewed word-salad on the campaign trail.
Posted on 3/31/26 at 4:28 pm to NC_Tigah
quote:
In terms of median lifetime contributions and ROI, SS vs S&P, the monthly differential would run about $2K vs $8.5K, given similar actuarial distributions, IIRC.
It's been a skim and scam passed off as a sort-of retirement fund for decades, but evidently dems are too dumb to know the difference between $2k a month and $8.5k a month in benefits.
Imagine returns if the fund was invested in SPY during the next time we have a recession.
Posted on 3/31/26 at 4:28 pm to deuceiswild
quote:
BTW, I sincerely apologize if I'm misunderstanding what you're saying.
There are multiple things that are equally true at the same time.
It's BS people were forced to pay into this broken system all their lives for a return that would've been much bigger if invested into the market. - true
It's not a sustainable program and it would be nothing short of theft if the government took those funds all those years and did away with the program. - true
The younger people are absolutely screwed because as bad as it is for your age group, it's only going to get worse. - true
The way to put he program and this country on a financially sustainable path would certainly have to include SS reform. - true
As aging boomers receive payouts from SS, the financial situation will continue to be more dire for their kids and grandchildren. - true
I get why you'd be pissed for paying all those years and getting nothing. I get why young people are abslutely correct in that they'll be left to hold the proverbial bag on this. It sucks for everyone which is why it was a stupid, socialistic, embarrassment of a program that never should've started to begin with.
This post was edited on 3/31/26 at 4:31 pm
Posted on 3/31/26 at 4:31 pm to Auburn1968
quote:It's been a skim and scam passed off as a sort-of retirement fund since its inception. It was used to fund 30% of FDR's second term "New Deal" programs, and a large amount of subsequent WWII debt.
It's been a skim and scam passed off as a sort-of retirement fund for decades
Posted on 3/31/26 at 4:47 pm to JiminyCricket
quote:
I get why you'd be pissed for paying all those years and getting nothing. I get why young people are abslutely correct in that they'll be left to hold the proverbial bag on this. It sucks for everyone which is why it was a stupid, socialistic, embarrassment of a program that never should've started to begin with.
Fair enough. But excuse me for getting pissed that anyone would call ME (or people like me) the bad guy in all this for merely wanting something back. All we've done is PAY. For decades.
Posted on 3/31/26 at 4:49 pm to Sharlo
quote:
It is a scam. My old man worked until he was 70. Died about one year later, shortly after starting to collect SS. My mom has since only received the greatly reduced surviving spouse benefit, even though dad payed in for 50+ years. Thieves, all of them.
Surviving spouse benefits are equal to your father's benefit as long as your mother is over retirement age. If she isn't, she still gets his full amount or close to it as long as she's still caring for your father's minor children, as well as money for those children until they are 18. I am no defender of SS and I think it's a ripoff, but one of its many flaws is how it does what I just described, when a proper group insurance benefit could have been implemented at a fraction of the cost.
Your post doesn't ring true.
Posted on 3/31/26 at 4:50 pm to JiminyCricket
quote:Actually, at least that part is is not really true.
The younger people are absolutely screwed because as bad as it is for your age group, it's only going to get worse. - true
SS is running 20% deficits to outlays. If no revisions to the program occur, then SS revenues to deficits are projected as flat for the next 100years. (Congress will ""fix"" SS by increasing payroll taxes 20% ..... guaranteed!)
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