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Message
re: Updated Thread: A Blast From the Past - SS Reform
Posted on 7/16/23 at 8:49 am to TrueTiger
Posted on 7/16/23 at 8:49 am to TrueTiger
quote:
in the 1930s the average lifespan was shorter, the designers of Social Security believed the funds would never run out because so many would die before they were eligible.
Exactly. Back in the 60s people were old at 55. They live 10+ years longer today.
It has to be revamped, or the window has to be shifted.
0
Posted on 7/16/23 at 8:52 am to TrueTiger
quote:
n the 1930s the average lifespan was shorter,
To put things into perspective, in the 1930s life expectancy was 62. Now it is 77.
There is no magic wand that can be waved to fix SS. Choices have to be made.
Posted on 7/16/23 at 9:04 am to DavidTheGnome
quote:
It’s a safety net not a retirement fund
Not according to ssa.gov.
quote:
Social Security provides retirement income for almost every American worker.
People consider it retirement income because the Government says it is retirement income.
SS evolved from the "Townsend Old-Age Pension Plan" and, our very own, Huey P Long's "Share the Wealth Plan". SS is an annuity and, in this case, the insurance company is the United States Government.
Posted on 7/16/23 at 9:18 am to SlowFlowPro
quote:
Hey bud you posed the question and ignored a HUGE population of Boomers were hippies at the time this was passed
Dumb and lazy comment. I expect better from you, frankly. Medicare was not put up be voted on by the people in a national lection. Kennedy started the legislative process for Medicare in 1961. The oldest Boomer would be 16 and the youngest would have been 1.
quote:
Just admit it's leftism and Trump is supporting Leftism. He's vote buying like a Democrat. Just admit it.
Why would I admit it when I never claimed the opposite. Again, another dumb and lazy comment by you this morning.
quote:
Well one has been in power for decades and left this shite sandwich to the yutes.
Another dumb and lazy comment. You are batting a 1000 this morning.
Posted on 7/16/23 at 9:25 am to frogtown
quote:
To put things into perspective, in the 1930s life expectancy was 62. Now it is 77.
The last reform was in the early 80' and the life expectancy was not as high then as it is now. Also fertility rates have dropped. One way to save SS is for Millennials and Zoomers to start have kids and instill in them a great work ethic. None of this quiet quitting bull shite.
Posted on 7/16/23 at 9:32 am to Bass Tiger
quote:
Many people continue to call Social Security an entitlement.....it's the money every working American and the match their employers paid into a fund for their retirement.
But it's not.
How long would we be able to pay SS without taxing current earners? It's about 2 years. That fund was never intended to "pay you back". Current taxes have always been the primary fundraising mechanism for SS, which is why it's a redistributive welfare scheme like any other (it just has better PR).
quote:
A middle class couple currently in their 60's working +40 years earned 3-4-5 million dollars. When you run the numbers that means on the low end that couple and their employers remitted $400k, on the high end over $600k....with no growth factored in. Now add 4-5% growth annually over +40 years and you can see the how much money these people should have available for their retirement.
They should have voted for better policies
Posted on 7/16/23 at 9:33 am to La Place Mike
quote:
One way to save SS is for Millennials and Zoomers to start have kids and instill in them a great work ethic.
Yes all of those high school high earners in 2036 are going to save SS
Posted on 7/16/23 at 9:47 am to SlowFlowPro
quote:
Yes all of those high school high earners in 2036
Someone has to work because Zoomers and millennials are allergic to it and if I am not mistaken all workers pay the fica tax. But don't worry all those people coming across the border will take up the slack until the high schoolers start earning a real income.
Posted on 7/16/23 at 10:31 am to SlowFlowPro
quote:No. The hippies grandparents were the generation present in the era of its passage.
Hey bud you posed the question and ignored a HUGE population of Boomers were hippies at the time this was passed
Anyone using blaming generations for problems which are continuum in nature are not educated well enough for conversing about them. ie, about 40% of posters here
Posted on 7/16/23 at 10:32 am to La Place Mike
quote:a frequent nasty habit of this poster
Another dumb and lazy comment. You are batting a 1000 this morning.
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