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Started By
Message
re: Trump: ‘We’re Not Touching’ Social Security in Proposed Cuts to Government Spending
Posted on 12/9/24 at 3:23 pm to Thundercles
Posted on 12/9/24 at 3:23 pm to Thundercles
quote:
Honestly if we got rid of the waste in government we'd be running with a trillion dollar surplus every year and would never have to worry about SS or Medicare.
But then we wouldn't have valuable studies about the mating habits of transgender tree frogs in Peru.
0
Posted on 12/9/24 at 8:12 pm to Pfft
I did that last year and I think it was 78 or something, but yeah, might as well sooner than later. Ain't no promises.
Posted on 12/9/24 at 8:17 pm to Auburn1968
True, it's around $22k before they take some though. We're ok here either way thankfully. The bad part is I think you can kinda start falling apart in your 60's if you aren't working somewhat not to. My hips are driving me crazy and joint ache like a mutha.
Posted on 12/9/24 at 8:30 pm to Auburn1968
quote:
Just go with Milton Friedman's plan he created for Chile. You can leave your fund with the government plan or move it to a number of stock market that are regulated. Worked very well with much better returns.
Bush attempted a similar concept in 2004 and the Dem plus media quickly killed the idea.
Posted on 12/9/24 at 8:40 pm to Taxing Authority
quote:
But people asked the to be dependent on the government
bullshite. We didn't ASK, they took it by force and promised retirement benefits in return. As a 59 year old who has been paying SS taxes since I was 15, I just want the benefit I paid for.
Posted on 12/9/24 at 9:00 pm to Major Dutch Schaefer
Social Security can be fixed, or at least the premis of Social Security. Some thoughts.
1. Change the name to Retirement Security and change it back to how it was originally passed by Congress.
2. Make it a true retirement fund that the government has no access to. The fund is to be managed by an investment firm on a 10 year rotating basis. If the investment firm fails to return a n average of 6% over a 2 year period the management can be changed before 10 years.
3. End the federal retirement plan and combine it with the same Retirement Security plan. No special plans for Congress or government employees. Everyone participates as an equal.
4. The retirement plan is to have a "catch-up" funding plan until there are enough funds for the plan to be sustainable and on solid foundation.
5. The catch up funds will be come from a Retirement Security surcharge of 20% on all government entitlement funding.
6. The catch-up funding will also come from savings secured by DOGE efficiency cuts. All budgeted expenses saved by DOGE go to the new plan.
This could be a very easy sell to the citizens if it is shown to not cost taxpayers more and it solidifies the future of a Retirement plan that will perform like a retirement plan.
1. Change the name to Retirement Security and change it back to how it was originally passed by Congress.
2. Make it a true retirement fund that the government has no access to. The fund is to be managed by an investment firm on a 10 year rotating basis. If the investment firm fails to return a n average of 6% over a 2 year period the management can be changed before 10 years.
3. End the federal retirement plan and combine it with the same Retirement Security plan. No special plans for Congress or government employees. Everyone participates as an equal.
4. The retirement plan is to have a "catch-up" funding plan until there are enough funds for the plan to be sustainable and on solid foundation.
5. The catch up funds will be come from a Retirement Security surcharge of 20% on all government entitlement funding.
6. The catch-up funding will also come from savings secured by DOGE efficiency cuts. All budgeted expenses saved by DOGE go to the new plan.
This could be a very easy sell to the citizens if it is shown to not cost taxpayers more and it solidifies the future of a Retirement plan that will perform like a retirement plan.
This post was edited on 12/9/24 at 9:03 pm
Posted on 12/9/24 at 9:39 pm to Major Dutch Schaefer
Like peter schiff predicted.
Posted on 12/9/24 at 10:24 pm to Pfft
[link=(As a person approaching 61 and working and putting money into)]LINK[/link]
Same age. I look forward to getting something at 70 but reform is needed. I will wait and see.
Same age. I look forward to getting something at 70 but reform is needed. I will wait and see.
Posted on 12/9/24 at 10:28 pm to Pfft
quote:
As a person approaching 61 and working and putting money into it since I was 17 years old, I say frick you.
I want my muther fricking money.
Or I can make it easy, give me a lump sum for what I would get paid from 65 to 80 years old and let me invest in it as I see fit.
I was forced to pay into this system, I expect full repayment of my money , with interest.
Notice they call it a benefit. frick that it is my money.
EXACTLY THIS! I wasn't given a choice to opt out so I want my dang money!
Posted on 12/9/24 at 11:07 pm to Major Dutch Schaefer
It needs to be touched.
Posted on 12/9/24 at 11:11 pm to Major Dutch Schaefer
But I thought KAMala said he was going to cut SS?
Posted on 12/11/24 at 3:41 pm to Pfft
quote:Itr's counterintuitive, but if you don't need SS, take it early.
Will probably start at 63 or 64
If you need the extrabucks for retirement though, continue working, and put off SS as long as you can. You end up with a few more years of full income, and larger SS checks when you do start drawing them.
Posted on 12/11/24 at 3:55 pm to GumboPot
quote:
SS shouldn't be touched.
This is an insane position. SS gives the investor an awful return and if you die before receipt, the government steals the entire amount you invested without ever making a return. At the least, it should go to your family until it is paid out in full.
SS should be voluntary. If it is such a great retirement plan, everyone will volunteer to enter it.
Posted on 12/11/24 at 4:19 pm to armytiger96
quote:
quote:
Just go with Milton Friedman's plan he created for Chile. You can leave your fund with the government plan or move it to a number of stock market that are regulated. Worked very well with much better returns.
Bush attempted a similar concept in 2004 and the Dem plus media quickly killed the idea.
Bush wasn't strong enough to push it hard enough no matter how much sense it made. A lot of the clinging to a pure government system is that they pay an interest rate on borrowing the Trust Fund that is almost always well below the rate of inflation. Quite a racket.
Conversely, the stock market averages about a 9% gain yearly for the last 40 years.
Posted on 12/11/24 at 4:26 pm to TBoy
quote:
As a person approaching 61 and working and putting money into it since I was 17 years old, I say frick you.
I want my muther fricking money.
Amen, brother.
I logged on to my SS account the other day to see the total amount that I've paid in and calculate what I reasonably expect to get out. I started paying in when I was 16. While I've done better with my 401K, that SS benefit is already purchased.
Ditto. Almost 63 and waiting until 64 to call it a career, I think. Issue is that I am in sales making good cash and there is no end in sight. It's hard to let go.
Posted on 12/11/24 at 7:24 pm to Auburn1968
Is there really a SS fund? I was looking up some information and came across information the SS taxes accounts for 30% of the total tax revenue collected which was just over 6 trillion. SS annual expenses was about 1.2 trillion so that would indicate SS should not be going bankrupt if it were a fund. This makes me think the SS tax revenue is going to the general fund and Congress just tells us what they will allow SS to budget.
Now is the time to correct this govt fraud while they are looking to trim fat and make govt more efficient. Take all the savings and cost cuts and pour it into a true SS fund. Then budget the SS tax to that fund. What this would do is force future Congress and administration to work with 30% less revenue and thus curtail a lot of spending.
Now is the time to correct this govt fraud while they are looking to trim fat and make govt more efficient. Take all the savings and cost cuts and pour it into a true SS fund. Then budget the SS tax to that fund. What this would do is force future Congress and administration to work with 30% less revenue and thus curtail a lot of spending.
Posted on 12/11/24 at 7:31 pm to Major Dutch Schaefer
quote:
Trump: ‘We’re Not Touching’ Social Security in Proposed Cuts to Government Spending
Well, that’s motherfricking stupid.
quote:
entitlements
I wish that we would remove this shite from our lexicon.
Posted on 12/11/24 at 7:34 pm to LSUtoBOOT
quote:
Social security for retired people is not an entitlement, they earned it.
Well....some did. Others....not really.
Posted on 12/11/24 at 7:36 pm to LsuNav
quote:
Same age. I look forward to getting something at 70 but reform is needed. I will wait and see.
Yep, I'm willing to forego it a few years.
Posted on 12/11/24 at 7:44 pm to GumboPot
now add Illegals and Welfare Queens to the beneficiaries of Income Tax Revenues, and you’ll see it’s a rather large deficit, it is that simple as to what they are doing in DC with our hard earned money, time we reverse course!
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