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. Whose retiring ? No one I know, and what about the death to life ratio going on in the program ? Any stats on that, and how does that shape and reshape the programs viability ? Nothing is fluid about it, and that could be where the deceptiveness lay in the numbers, and now the deceptiveness is looking to be increased by raising the age in so that more people will die before drawing on it ?Again, 5.4% of the population was over 65 in 1935, 9% of the population was over 65 in 1965, 15% of the population is over 65 today. Thus my 9 percent index.
We are most definitely living longer than our ancestors. We should be working longer.
Common. Fricking. Sense.
Can I bring up the obvious? In 1935, the program covered 1/2 of the work-force. By 1950, only 15% of those 65 and older were eligible for benefits. You can't compare ratios from the 1930s with today. It isn't apples and oranges. It is apples and auto parts.
That only adds more value to my point. A smaller and smaller percentage of workers supporting an ever increasing percentage of retirees.
There are two key stats. The likelihood of a 30 year-old (ie someone who has attained eligibility) of reaching retirement age, and the life expectancy of the retiree at retirement age. Both are increasing, but no one is looking at these measures. The problem with Social Security is more Americans are living average. This is kryptonite to SS.
Let's use some facts directly from the Trustees' Report https://www.ssa.gov/oact/tr/2017/tr2017.pdf
A) Under the Trustees’ intermediate assumptions, Social Security’s total income is projected to exceed its total cost through 2021, as it has for every year since 1982. The 2016 excess of total income over cost for the year was $35 billion
NOTE: this is based on 2016 SS revenue... Remember ... 2016 was the last year of the anti-business,anti-American President!
Federal tax revenue for 2017 was $192 billion more than 2016. Who Really Pays Uncle Sam's Bills?
Plus we didn't have a president that discouraged businesses by telling them to go bankrupt, or want to put 1,400 companies out of business, reducing federal revenue by $100B a year while throwing 450,000 people out of work.
B) With more people working more FICA payments by both employees and what again most people including many on this board don't seem to know is that the EMPLOYER matches!
It is truly sad that Obama and his anti-business attitude DIDN"T seem to comprehend that EMPLOYERS match employees payments into FICA! Maybe if he had to pay as an
employer that tax he'd appreciate the concept of higher employment and lower operating costs!
SS is funded until 2034. By that time, the bulk of the boomers will be gone.
The largest threat to long term solvency is wage stagnation.
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
Here is the exact cost:
-
But people lose all their benefits.
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
According to the SSA, up to $30 trillion(2015$s) depending upon whether you are going to provide benefits to existing retirees and those that have accrued benefits.
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
Here is the exact cost:
-
But people lose all their benefits.
That isn't going to happen. So, since both the Dems and the Repubs are all about privatization especially with SS, what is the cost?
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
According to the SSA, up to $30 trillion(2015$s) depending upon whether you are going to provide benefits to existing retirees and those that have accrued benefits.
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
According to the SSA, up to $30 trillion(2015$s) depending upon whether you are going to provide benefits to existing retirees and those that have accrued benefits.
According to the SSA, up to $30 trillion(2015$s)
And that would save us how much in the future?
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
Here is the exact cost:
-
But people lose all their benefits.
That isn't going to happen. So, since both the Dems and the Repubs are all about privatization especially with SS, what is the cost?
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
According to the SSA, up to $30 trillion(2015$s) depending upon whether you are going to provide benefits to existing retirees and those that have accrued benefits.
Is that the cost to change over?
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
According to the SSA, up to $30 trillion(2015$s) depending upon whether you are going to provide benefits to existing retirees and those that have accrued benefits.
According to the SSA, up to $30 trillion(2015$s)
And that would save us how much in the future?
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
Here is the exact cost:
-
But people lose all their benefits.
That isn't going to happen. So, since both the Dems and the Repubs are all about privatization especially with SS, what is the cost?
Around 30 trillion dollars, if people keep all their benefits.
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
Here is the exact cost:
-
But people lose all their benefits.
That isn't going to happen. So, since both the Dems and the Repubs are all about privatization especially with SS, what is the cost?
Around 30 trillion dollars, if people keep all their benefits.
Yes.
How you pay the $30 trillion is going to vary. Typically the promoters promise to keep the benefits untouched for those in or those approaching retirement. That is where most of the money is.
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
According to the SSA, up to $30 trillion(2015$s) depending upon whether you are going to provide benefits to existing retirees and those that have accrued benefits.
According to the SSA, up to $30 trillion(2015$s)
And that would save us how much in the future?
zero.
It is the cost of paying-off the promises of the past. We save nothing. It is the conversion of the existing system to personal accounts. When the 12.4% of wages goes to a personal account, it has to be replaced by a tax of a different name. For $30 trillion, we get the right to save for our own retirement.
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
According to the SSA, up to $30 trillion(2015$s) depending upon whether you are going to provide benefits to existing retirees and those that have accrued benefits.
Is that the cost to change over?
That is just the cost of legacy benefits. That is the payment that goes to existing retirees, and those who have accrued benefits from past payments. Basically it is a phase-out where future retirees get less and less.
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
According to the SSA, up to $30 trillion(2015$s) depending upon whether you are going to provide benefits to existing retirees and those that have accrued benefits.
According to the SSA, up to $30 trillion(2015$s)
And that would save us how much in the future?
zero.
It is the cost of paying-off the promises of the past. We save nothing. It is the conversion of the existing system to personal accounts. When the 12.4% of wages goes to a personal account, it has to be replaced by a tax of a different name. For $30 trillion, we get the right to save for our own retirement.
zero.
Show your math.
It is the cost of paying-off the promises of the past. We save nothing.
Then that isn't a cost.
When the 12.4% of wages goes to a personal account, it has to be replaced by a tax of a different name.
Not forever, unlike the current system.
For $30 trillion, we get the right to save for our own retirement.
What's the current hole in the system?
Typically, we hear a lot of drama and get a lot of hand-wringing over the possibility of benefit cuts 16 years in the future. Comically enough most of the articles are talking about a fairly benign impact.
Here are three stats to worry about :
The Social Security Shortfall Is Growing Three Times Faster Than the US Economy.
In other words, the hole in the program’s finances is growing at three times the rate of our ability to fill it.
People Turning 70 Today expect to Be Alive When Benefits are Reduced
The problem of Social Security hasn't been about those 40 and younger in decades. Here is the SSA's life expectancy calcuator : Calculators: Life Expectancy
In 2016, The Program Lost More Money Than It Collected
We could have reduced benefits to zero for the entire year of 2016, and the program would have finished the year in worse shape than it started. "Loss" here is looking at the $ value of promises that we believe will go unfulfilled.
If you want the details, here is my article, but the stats are pretty simple.
No Way Around Sorry Shape Social Security Is In
How much will it cost to privatize it? And then how much will it cost per month to maintain it after privatization?
According to the SSA, up to $30 trillion(2015$s) depending upon whether you are going to provide benefits to existing retirees and those that have accrued benefits.
Is that the cost to change over?
That is just the cost of legacy benefits. That is the payment that goes to existing retirees, and those who have accrued benefits from past payments. Basically it is a phase-out where future retirees get less and less.
What is the rational behind not lifting the cap?
