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

[Missouri_Mike]

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.

How is it not a ponzi scheme when there is no money in the fund other than what you can collect from those that continue to pay in hoping for the pay out in the end? SS is the very definition of a ponzi scheme. As long as the government can sell the bullshit to new investors it can survive. Once there aren't enough fools sending the money in it collapses.

Nice job lowering the expectations of returns on the investors though...Enron.

 

[LordBrownTrout]

Which would only increase the welfare rolls.

I will always be in favor of giving people a choice.....never govt coercion or force.

 

[Staidhup]

Is it not interesting in that American Works save less than any industrialized economy and out spend all other industrialized economies? Yet boy can they bitch! So someone explain how such a poor compensated work force can justify spending so freaking much and living beyond their financial means?

 

[LordBrownTrout]

Is it not interesting in that American Works save less than any industrialized economy and out spend all other industrialized economies? Yet boy can they bitch! So someone explain how such a poor compensated work force can justify spending so freaking much and living beyond their financial means?

Because owning a 72 inch flat screen hi def is a right.

 

[Staidhup]

Oh its a ponzi scheme, designed when the average workers mortality rate peaked around 65. To see just how stable Soc Sec is check out the Congressional budget report.
Some say means testing will come into play, then the next step is asset analysis, then its monthly reductions in payout. Only a fool believes Soc Sec payouts are a viable existence.

 

[Dont Taz Me Bro]

Babyboomer paid SS all of their careers...and were promised they'd get their payments when they retired.

And your point is? By the time I retire I'll have paid into SS all of my career too, but not a get a God damned dime of it , but you guys seem to have no issue with that whatsoever. With the Baby Boomers it's all about you, you, you.

 

[boedicca]

And your point is? By the time I retire I'll have paid into SS all of my career too, but not a get a God damned dime of it , but you guys seem to have no issue with that whatsoever. With the Baby Boomers it's all about you, you, you.

Then you should favor unwinding SS and having the choice to have a privatized account.

SS is a Ponzi Scheme that is going to collapse as our demographics change. We're approaching on 2:1 taxpayers to beneficiary (when SS started, the ratio was over 40:1).

 

[francoHFW]

Amazing the stupid bs that hater dupes believe lol...the only way SS will fail is if your greedy idiotic a-hole megarich Pub heroes get their hands on it. You fools would have us back to poor houses and potters fields for those 36% and many more who don't have enough. Jackasses!

 

[OnePercenter]

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?

If it was good enough for Ayn Rand.......

 

[Avorysuds]

I will always be in favor of giving people a choice.....never govt coercion or force.

I just have to ask... Does that mean you support gays being allowed to get married?

 

[Political Junky]

Thank God Bush didn't succeed in privatizing SS. Many of us would be in bad shape, if he had.

 

[Jarlaxle]

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.

Unless I decide to go full-on parasite and collect disability for the rest of my life, I'll never see it, either. I will be dead before I am able to collect one cent.

 

[Youch]

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

I think you mean the SSA, and yes, it is unsustainable and due to be bankrupt in about 30 years. AARP is a disaster, and I'd stay away from it. There are better alternatives....

 

[Geaux4it]

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.

People lost money because they didn't manage it closely. Lessons learned

-Geaux

 

[jasonnfree]

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...

The collapse of the american economy has been predicted by the right wing for decades . Might happen some day, might not. In the meantime, programs like social security has been helping people of modest means for decades. What "conservative" programs have helped? Why do so many on the right believe that the limbaughs, Koch brothers and Romneys, have their best interests at heart? When you're really down and out, who's there for you? Usually it's Uncle Sam. Fact, not fiction.

 

[jasonnfree]

People lost money because they didn't manage it closely. Lessons learned

-Geaux

Partly true. Also involved is luck, and health. Many have gone bankrupt due to medical bills. We don't have a national health insurance in USA like other advanced nations. Many invested safely and lost. A lot of that happened in 2008 and no bankers or wall streeters that should have went to jail didn't.

 

[Stephanie]

I don't know how the op lives with themselves

SS is in such good shape, people can't live off it they are having to work until 90 and be walmart greeters, live with roommates like they did when they were in college... or just worry themselves to death, which the government would prefer, it would save them money

 

[initforme]

How are people who are barely scraping by going to build up a nest egg? I would say about half the population is struggling to simply maintain some semblance of survival. Extra funds to invest are not available.

 

[Disir]

Social Security is not a ponzi scheme.

When I was younger, I firmly believed it wouldn't be here. It's still here. It's a manipulated fear that is used by a bunch of punks that want their hands on the cash.

Once upon a time people had pensions. Little financial advisers came in with their little classes to tell the working people that their money was going to be invested. Laws that had been in place due to the financial crash of '29 were repealed. The money that had once been saved was lost in 2007. Now, we are going to continue the con game?

No.

 

[Youch]

Social Security is not a ponzi scheme.

When I was younger, I firmly believed it wouldn't be here. It's still here. It's a manipulated fear that is used by a bunch of punks that want their hands on the cash.

Once upon a time people had pensions. Little financial advisers came in with their little classes to tell the working people that their money was going to be invested. Laws that had been in place due to the financial crash of '29 were repealed. The money that had once been saved was lost in 2007. Now, we are going to continue the con game?

No.

When you were younger, you believed in something that was not true. That is true with most people. But it seems as you've gotten older you have not been enlightened on the subject.

The "lock box" is empty. Despite the laws, the Federal Government has raped the Social Security Fund. So, it is empty, and being paid for out of deficit spending, borrowing and the printing of fiat money, none of which is smart or sustainable.

Further, the SSA, originally, failed to understand the ebbs and flows of demographics....as the Baby Boomers wane, there are fewer and fewer people to pay into the system. And with fully 47% of the moochers, I mean "citizens" paying into our system, not to mention the politically motivated invasion along our southern border, it is mathematically impossible to sustain the SSA.

Pensions is a different issue, but don't think for a second the Federal Government (the politicos who profit therefrom) are not eyeballing your 401(k).

Con game, you betcha.....