It Is Past Time To Raise The SS And Medicare Eligibility Ages

[Skull Pilot]

3%??

$100 invested per month for 30 years at 3% would yield a whopping $58K.

With no Social Security...you starve

Wow the stupid is strong with you.

When you are young invest heavily in growth equities
Within 10 years of retirement start moving into more conservative investments using a simple strategy for example if you are 50 put .8 times your age percent of your portfolio in bonds or conservative blue chip dividend paying stocks and increase that percentage every year or so until you retire

That way you protect your gains and while in retirement still earn an ROI that will keep up with inflation

 

[boedicca]

3%??

$100 invested per month for 30 years at 3% would yield a whopping $58K.

With no Social Security...you starve

Why only $100/month? That's what someone making less than $19K per year spends on SS. And the employer portion should be added for a more realistic viewpoint.

A better representation is someone who makes $50K year with 12.9% going into a retirement account (this is the individual plus the employer's share). $538/per month at 3% results in $315K in 30 years. 3% is a very low return. 7% is more realistic and that yields $664K.

 

[Lesh]

Why only $100/month? That's what someone making less than $19K per year spends on SS. And the employer portion should be added for a more realistic viewpoint.

A better representation is someone who makes $50K year with 12.9% going into a retirement account (this
is the individual plus the employer's share). $538/per month at 3% results in $315K in 30 years. 3% is a very low return. 7% is more realistic and that yields $664K.

You include the employer portion in that. There is ZERO reason to believe that employers are going to fork over a 6% raise if the Social Security deduction is eliminated.

So now you have HALF of what you claim and don't take inflation into account.

Oh...

 

[Flash]

It is time for the filthy ass government to get out of the business of trying to run our retirement and health care. They fuck up everything they touch and will bankrupt our country.

Fuck the government!

 

[boedicca]

Why only $100/month? That's what someone making less than $19K per year spends on SS. And the employer portion should be added for a more realistic viewpoint.

A better representation is someone who makes $50K year with 12.9% going into a retirement account (this
is the individual plus the employer's share). $538/per month at 3% results in $315K in 30 years. 3% is a very low return. 7% is more realistic and that yields $664K.

You include the employer portion in that. There is ZERO reason to believe that employers are going to fork over a 6% raise if the Social Security deduction is eliminated.

So now you have HALF of what you claim and don't take inflation into account.

Oh...

Scuze moi, but it's my analysis and I'll make my own assumptions. Currently, the total compensation cost for employees includes the employer's share of SS and Medicare. If employers wish to retain employees, it makes sense for them to match the private retirements accounts as it is no incremental cost to them. One feature of moving to individual accounts could be to make this mandatory.

 

[Lesh]

This garbage was tried in Chile...and it was and still IS a disaster

Chile's privatized social security system, beloved by U.S. conservatives, is falling apart

But once it's gone...it's gone

Remember that

 

[Lesh]

Scuze moi, but it's my analysis and I'll make my own assumptions. Currently, the total compensation cost for employees includes the employer's share of SS and Medicare. If employers wish to retain employees, it makes sense for them to match the private retirements accounts as it is no incremental cost to them. One feature of moving to individual accounts could be to make this mandatory

By that logic it makes sense that wages should be increasing substantially now since the economy is doing so well...but that's.....not happening

Oh...

 

[boedicca]

Scuze moi, but it's my analysis and I'll make my own assumptions. Currently, the total compensation cost for employees includes the employer's share of SS and Medicare. If employers wish to retain employees, it makes sense for them to match the private retirements accounts as it is no incremental cost to them. One feature of moving to individual accounts could be to make this mandatory

By that logic it makes sense that wages should be increasing substantially now since the economy is doing so well...but that's.....not happening

Oh...

No, it doesn't. That is a complete non sequitur. Taking an existing cost structure that was determined by tax regulations and restructuring it to transition to privately owned retirement accounts is not the same as the government mandating wage increases. One is to transition away from government programs...what you suggest is to augment government interference.

 

[Skull Pilot]

Why only $100/month? That's what someone making less than $19K per year spends on SS. And the employer portion should be added for a more realistic viewpoint.

A better representation is someone who makes $50K year with 12.9% going into a retirement account (this
is the individual plus the employer's share). $538/per month at 3% results in $315K in 30 years. 3% is a very low return. 7% is more realistic and that yields $664K.

You include the employer portion in that. There is ZERO reason to believe that employers are going to fork over a 6% raise if the Social Security deduction is eliminated.

So now you have HALF of what you claim and don't take inflation into account.

Oh...

That money is already factored onto the salary costs and if we are going to require people to save for retirement then there is no need to do away with the employer match if we allow people to own their own accounts

 

[Lesh]

I'm trying desperately to figure out if you are just naive or actually cynically dishonest.

I believe it is the latter

 

[Lesh]

This garbage was tried in Chile...and it was and still IS a disaster

Chile's privatized social security system, beloved by U.S. conservatives, is falling apart

But once it's gone...it's gone

Remember that

I repeat

 

[Skull Pilot]

This garbage was tried in Chile...and it was and still IS a disaster

Chile's privatized social security system, beloved by U.S. conservatives, is falling apart

But once it's gone...it's gone

Remember that

And you conveniently ignore that the fucking corrupt Chilean government decided where the money went and that was into the hands of just a few firms picked by Pinochet that were charging fees that ate up half of the funds

So you just gave us all one more reason not to let the fucking government handle our retirement money

 

[Lesh]

And guess what?

If all that money gets dumped into the market...as happened in Chile...the market SOARS...for a little while...and those already in the market...clean up.

 

[Lesh]

This garbage was tried in Chile...and it was and still IS a disaster

Chile's privatized social security system, beloved by U.S. conservatives, is falling apart

But once it's gone...it's gone

Remember that

And you conveniently ignore that the fucking corrupt Chilean government decided where the money went and that was into the hands of just a few firms picked by Pinochet that were charging fees that ate up half of the funds

So you just gave us all one more reason not to let the fucking government handle our retirement money

But wait...don't you fuckers keep telling us how corrupt OUR government is?

You really need to work on your consistency

 

[Skull Pilot]

This garbage was tried in Chile...and it was and still IS a disaster

Chile's privatized social security system, beloved by U.S. conservatives, is falling apart

But once it's gone...it's gone

Remember that

And you conveniently ignore that the fucking corrupt Chilean government decided where the money went and that was into the hands of just a few firms picked by Pinochet that were charging fees that ate up half of the funds

So you just gave us all one more reason not to let the fucking government handle our retirement money

But wait...don't you fuckers keep telling us how corrupt OUR government is?

You really need to work on your consistency

I am consistent and our government is corrupt as all governments are

let the people own their own retirement accounts because the fucking government is corrupt and your article proves that governments should not be trusted to handle such a large portion of anyone's lifetime income.

 

[Skull Pilot]

And guess what?

If all that money gets dumped into the market...as happened in Chile...the market SOARS...for a little while...and those already in the market...clean up.

All that money?

There is no money in the so called SS trust fund as it is merely a box stuffed with IOUs