36% have no nest egg- thank god SS is in good shape...26% age 50-64...

[francoHFW]

That SS is in trouble is AARP's #1 myth...

 

[Luddly Neddite]

We lost a big chunk of our investments with the Bush crash but what if all the money in our SS accounts had been in the stock market?

Those who have no investments should be really glad their SS money wasn't in stocks.

 

[C_Clayton_Jones]

36% have no nest egg- thank god SS is in good shape...26% age 50-64...

True.


And the Social Security program is working as intended: to safeguard those whose savings are wiped-out as a consequence of a catastrophic economic disaster, such as the December 2007 Recession.


This is particularly true of older working Americans who lost everything avoiding bankruptcy and foreclosure; they're thankfully back to work now, but with too few working years left to save for retirement, SS will be a significant part of their retirement income, if not the sole source, through no fault of their own.

 

[jasonnfree]

Social Security, a socialist program. I love to hear right winger rant about the evils of socialism. What republican programs have helped them? How many of them try to convince their grannies not to take evil socialist social security or medicare, and they'll take care of their aged relatives themselves as per righteous republican principles?

 

[Luddly Neddite]

Social Security, a socialist program. I love to hear right winger rant about the evils of socialism. What republican programs have helped them? How many of them try to convince their grannies not to take evil socialist social security or medicare, and they'll take care of their aged relatives themselves as per righteous republican principles?

Well yabut, I'm sure they refuse the money when its their turn to draw ... I mean, to do otherwise would be SO hypocritical.

 

[boedicca]

If we had privatized retirement accounts, SS solvency wouldn't be an issue.

Just sayin'.

 

[Mad Scientist]

You guys don't even know the History of Social Security.

When the United States went Bankrupt n 1933 the Bankers offered to bailout the US but with one condition: Tax the People to pay for it. Hence, SS was invented.

See, if they called it "USA Bankruptcy Tax" the average American would figger it out too easy.

There is no SS Surplus and there never will be. Checks are mailed out from the yearly general fund. So when the American Economy collapses (and it will) you won't get a check anymore!

Extra Credit Question: Is Social Security "Optional" or not?

10 seconds...

 

[LordBrownTrout]

It really is a travesty that we can't opt in or out of this ponzi scheme.

 

[C_Clayton_Jones]

SS is a pragmatic, wise, necessary, and proper program acknowledging the fact that those who work hard, do the right thing, and save for retirement need not be thrown into poverty when they can no longer work as a consequence of capricious economic forces beyond their control.


It is the cornerstone of a civil society and America's economic success; where the notion of 'getting rid' of SS/Medicare is reckless, irresponsible insanity.

 

[boedicca]

It really is a travesty that we can't opt in or out of this ponzi scheme.

Indeed. Considering that we are all going to get negative, if any, returns on our Secure In The Lockbox contributions, we'd all do much better with having control of our own money to save and invest.

 

[LordBrownTrout]

SS is a pragmatic, wise, necessary, and proper program acknowledging the fact that those who work hard, do the right thing, and save for retirement need not be thrown into poverty when they can no longer work as a consequence of capricious economic forces beyond their control.


It is the cornerstone of a civil society and America's economic success; where the notion of 'getting rid' of SS/Medicare is reckless, irresponsible insanity.

Everyone should be given a choice to opt in or out of SS. Many can make wiser decisions than a small penance from the govt. You can't even pass it on to your family other than your wife....and its your money.

 

[alan1]

Everybody that has relied upon SS as their retirement program has retired poor, and remains poor.
It was never intended to be a pension that kept one financially solvent in reirement

 

[Dont Taz Me Bro]

Social Security will not exist when I retire. It will be devoured by the Baby Boomers who are consumed with greed and have no regard for the well being of future generations, unlike their parents who made countless sacrifices for them.

 

[Gracie]

I get mine in December and boy am I looking forward to it! We have been struggling for a long time...since I had to stop working and SSI wouldn't say yes when I applied.

 

[boedicca]

Social Security will not exist when I retire. It will be devoured by the Baby Boomers who are consumed with greed and have no regard for the well being of future generations, unlike their parents who made countless sacrifices for them.

Babyboomer paid SS all of their careers...and were promised they'd get their payments when they retired. They weren't even born when this program started. If you want to blame anyone, blame FDR.

That said, we should unwind the program with phased in privatized accounts.

 

[Missouri_Mike]

We lost a big chunk of our investments with the Bush crash but what if all the money in our SS accounts had been in the stock market?

Those who have no investments should be really glad their SS money wasn't in stocks.

So just thinking about your stupid poster you put up and thinking how does this math add up? Social security has no assets. That was brought into the general fund years ago and only gets paid out with current tax income.

How in the fuck do you get a 4.3 trillion dollar surplus from a program that only exists on current tax revenue to survive? And how do we get this surplus running 17 trillion in debt when 25% or more of our entire federal budget is SS?

 

[Missouri_Mike]

I get mine in December and boy am I looking forward to it! We have been struggling for a long time...since I had to stop working and SSI wouldn't say yes when I applied.

My goodness, where are you going to spend all of that 1,200 bucks a month?

 

[Luddly Neddite]

No, its not a ponzi scheme and its silly to call it that.

And, no one said you should depend on it for your entire retirement funding.

 

[Luddly Neddite]

My goodness, where are you going to spend all of that 1,200 bucks a month?

You couldn't find a use for, as an example, $1200 a month?

I don't believe you. Nor do I believe that you could live on your private investments.

 

[Luddly Neddite]

Everyone should be given a choice to opt in or out of SS. Many can make wiser decisions than a small penance from the govt. You can't even pass it on to your family other than your wife....and its your money.

Which would only increase the welfare rolls.