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Message
re: Would cutting Social Security?
Posted on 12/22/25 at 9:14 pm to Narax
Posted on 12/22/25 at 9:14 pm to Narax
In you example of paying into and payout of the SS system...in addition to the inflation of money, does it factor in if year one and every subsequent year were invested in a simple interest earning account?
For instance the man's first year is invested in a cd, 2nd year, 3rd year and so on. What would the value of all those years be after 46 years? Assume a 4% annual interest rate. Of course it could be any investment medium, but use 4% cd for discussion.
And another thing, your copy/paste didn't say if the employee pay in also includes the matching employer contribution. Employee portion on the check is only half of what he's really paying in. If not for SS the employee would see his portion and the additional employer portion on his check.
For instance the man's first year is invested in a cd, 2nd year, 3rd year and so on. What would the value of all those years be after 46 years? Assume a 4% annual interest rate. Of course it could be any investment medium, but use 4% cd for discussion.
And another thing, your copy/paste didn't say if the employee pay in also includes the matching employer contribution. Employee portion on the check is only half of what he's really paying in. If not for SS the employee would see his portion and the additional employer portion on his check.
This post was edited on 12/22/25 at 9:25 pm
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Posted on 12/22/25 at 10:19 pm to drkirk90
it was stolen by the military industrial complex you idiot
Posted on 12/23/25 at 4:26 am to SlowFlowPro
quote:That's the whole point, SFP.
The plan would be to siphon off tax revenue from SS while maintaining taxing levels.
Siphoning off tax revenue from SS while maintaining taxing levels was the purpose of SS from its inception. It's been done for the past 90 yrs!
e.g., At present, Congress has siphoned off $2.8T ($2,800,000,000,000.00) in tax revenue from SS while maintaining taxing levels.
The problem Congress has is, over the next 10yrs unless SS is "reformed" (aka a payroll tax increase from 12.4% to ~15%), it has to pay that $2,800,000,000,000.00 back to SS, in addition to its other budgetary shortcomings/obligations. Hence the clamor to "fix SS" as a continued siphoning source.
Posted on 12/23/25 at 4:48 am to SlowFlowPro
quote:No.
Did you forget the interest on the debt?
quote:A nominal cap is is a nominal cap.
I don't think 4% growth (GDP, I presume) would overcome interest compounding on our debt.
So yes, 4% growth would allow us to reach balance sometime in year eight.
In the meantime, Congress, and the public, would receive an education in the point you're making as debt C-of-C slowly eroded other outlays.
Gosh, under that kind of pressure government agencies and the military might even have to do something über-radical such as switching to zero-based budgeting, like the rest of us.
Posted on 12/23/25 at 5:23 am to drkirk90
quote:
Would cutting Social Security?
save Americans billions, maybe trillions of dollars.
I bet all the money sent to Ukraine would have greatly improved the situation with SS.
How about the billions sent to the Taliban every year since 2020?
How about the billions sent to Israel and every other country that pokes it's lip out and extends a hand to the USA?
Nothing will ever change until elected leaders in this country are made to serve Americans first before themselves and other nations.
Posted on 12/23/25 at 6:01 am to drkirk90
I’m 42 and at the realization of never seeing a dime when I retire.
Posted on 12/23/25 at 6:29 am to mtheob17
quote:If Social security was about retirement, your prediction would be justified. It isn't.
I’m 42 and at the realization of never seeing a dime when I retire.
Social Security is not a retirement benefit.
It is a government borrowing program.
Period!
Under the guise of SS, the government forces the public to lend it money on terrible lending terms and ridiculous ROI, all of which the government sets.
SS is the cheapest, most reliable borrowing instrument the US government has. It is not going anywhere. Instead, DC will "save" SS by raising your payroll contributions (aka further expanding the program).
Posted on 12/23/25 at 7:11 am to NC_Tigah
quote:
unless SS is "reformed" (aka a payroll tax increase from 12.4% to ~15%),
This might not necessarily be the first step. Nor will raising retirement age be a first step.
IMO I think the next step is going to be raising the limit on the Social Security taxable wage base for 2026 from $184,500 to a couple of million dollars, or just delete the limit. A 12.4% tax on all earnings with no cap.
Posted on 12/23/25 at 7:18 am to TechBullDawg
quote:
Do government retirees get a pension? Cut that
This should absolutely be done first. Most companies have moved away from traditional pensions, there’s no reason for state, local and federal government to keep their existing system. While they’re at it, congress should be moved to Obamacare from their current health plans.
Posted on 12/23/25 at 7:34 am to Victor R Franko
quote:While not solving the solvency issue, it would certainly go a long way to converting SS to welfare
IMO I think the next step is going to be raising the limit on the Social Security taxable wage base for 2026 from $184,500 to a couple of million dollars, or just delete the limit. A 12.4% tax on all earnings with no cap.
Posted on 12/23/25 at 7:37 am to mtheob17
quote:
I’m 42 and at the realization of never seeing a dime when I retire.
What a whiner. Get a better job and make your own nest egg.
Posted on 12/23/25 at 7:44 am to SlowFlowPro
quote:
LINK
The problem with these exhibits is that we all saw Fed Expenditures jump by $2T in 2020 due to COVID spending and never come back. Total receipts were around $4.7T. I don’t believe for one minute that the new “mandatory” figures are accurate unless you believe it was mandatory we added $2T in a single year.
I guarantee you that if we purged SS and disability payments, Medicaid and Medicare of fraud and eliminate these programs for people that don’t need them we cut those costs down by 20% or more.
Cut all other expenditures to 2019 levels and we balance the budget.
I don’t believe for one minute every dollar included in mandatory expenses are all mandatory and that money is being spent efficiently.
Posted on 12/23/25 at 7:48 am to aTmTexas Dillo
quote:Citing a ripoff isn't whining.
What a whiner.
Factually, if SS was terminated today, and his contributions to date were confiscated, but the 12.4% payroll tax went away, he'd likely be FAR better off in the end.
But of course none of that will happen.
It won't happen, because his being better off is neither here nor there. His being better off has nothing to do with SS goals. It has nothing to do with DC goals. DC's goal is to borrow as much money as cheaply as it can. SS is the best method for borrowing as much money as cheaply as possible in Uncle Sam's toolbox.
Posted on 12/23/25 at 7:53 am to NC_Tigah
quote:
Citing a ripoff isn't whining.
It is. I didn't even think about SS until I was 62. But you guys have to obsess about it for twenty to thirty years. It's only 25 hundred to four thousand bucks a month, man. Sorry to repeat myself as I have posted this previously. I have taken my monthly payment added with my wife's and invested it for about number of years now. It's now a big chunk of change. But the other side of this is that I saved enough to not need it. You should do that.
Posted on 12/23/25 at 7:59 am to LSUwag
quote:
This 60 year old disagrees. I’ve worked since it was 15 years old. I’ve more than earned what I will soon collect from SS. I put myself through college without student loans. I did it by working my arse off in some terrible jobs. I earned it. A far better option to making the Thrift Savings Plan (TSP) available to everybody. Most people, even low wage folks would retire millionaires.
^^this^^ plus I paid Double because I was self employed.
Besides if you get rid of SS where will congress go to steal more money from the working class.
Posted on 12/23/25 at 8:07 am to aTmTexas Dillo
quote:
But the other side of this is that I saved enough to not need it. You should do that.
I'll keep that in mind.
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