‘No one in the US should be retiring at 65’: Ben Shapiro said Social Security was not designed to provide retirement benefits for 20+ years

[leftwinger]

Ummm It's wildly illegal not to pay into SS. They will definitely put you in jail for that. You dent have take the payments I don't think but there's nothing stopping them legally is the point.

you said collect. I dont think you are forced to sign up for payments. Musk Bezos might not want $3700/mo or whatever? Of corse all with SS# are forced to pay over 12% of every dollar earned income up to max cap.

 

[JackOfNoTrades]

The myth that SS is something you "pay into" and are drawing on some account is beyond ludicrous. People started drawing SS checks right after they passed the bill. Those people never "paid in". If it were as you said there would be a limit based on how much you paid in. SS was nothing more than another tax packaged to look like not a tax.

Yes, yes, yes. We know. Been hearing the same story out of the right wing for almost 40 years now. Get over it. Taxes are a part of life necessary to keep government functioning and Social Security was a promise at its very core.
The caps need to be removed. We can discuss a hike in the percentage later.

 

[Dont Taz Me Bro]

It is nothing like a Ponzi scheme.
At all.
That is what the uneducated, simple minded say.
Ponzi Schemes pay CURRENT investors from funds received from newer investors. Right away.
And the longer you are an "older" investor, the more you make.
In every Ponzi scheme, a very few at the top receive the overwhelming amount of total invested.
Thus, why it is also referred to as a pyramid scheme.

That is not what happens in SS. At all. Not even close.

It literally is set up like a Ponzi scheme. When SS was created there were seven workers paying in for every one retiree. Today there are less than two paying in. It was set up with the assumption that everyone would keep having five, six, seven kids, but "the pill" got invented 30 years later. Eventually, the people at the bottom of the pyramid won't be cashing out without major changes like raising the collection age or increasing the tax.

I'm 41. I don't even factor SS into my retirement planning because in my opinion it's a 50/50 chance it will be insolvent by then after your generation bleeds it dry because you refuse to change. Bush had the right idea with the private accounts and he was wrongly demonized over that proposal. It was the only reason I voted for him in 2004.

 

[Lisa558]

if you don’t pay in much you get a small paycheck each month. Maybe there is a min? $500/mo?

max was ~ $3700?

Another thing is that if you did well and saved into other retirement vehicles, and were an upper-class income earner (say, $130k), you are likely to have to pay income tax on almost all your SS earnings.

So, a modest earner who gets $500 a month not only gets more-per-dollar on her contributions than a high earner does, the $500 is tax free and the $3400 is almost completely taxable.

 

[WEATHER53]

No. I have paid in, since 16 years old. I plan to live a long time and collect back all, I paid in and more if possible.

There are a lot of contributing other peoples money in SS that lib loons would LOVE to confiscate for illegals and other giveaways to those who contributed nothing.
Libs feel very virtuous when giving away other peoples money or property

 

[Couchpotato]

if you don’t pay in much you get a small paycheck each month. Maybe there is a min? $500/mo?

max was ~ $3700?

But it never ends so long as you aren't dead, and if you die at 61 the system just keeps your money. SS is a wealth thief for minorities who dont live as long and welfare for old white people.

 

[MizMolly]

Like it or not, he's right.
It obviously is a huge political football, but going forward this country will be forced to make adjustments to the age for full benefits.
Right now, I would change it from 67 to 69, and every three years going forward, I would increase it by one year until the age of 75. Then, reevaluate every two years and make adjustments if necessary.

‘No one in the US should be retiring at 65’: Ben Shapiro said Social Security was not designed to provide retirement benefits for 20+ years — and those who expect that are ‘crazy’​

MSN

www.msn.com

So, by the time people can retire they will probably be too physically or mentally unfit to enjoy it?

 

[WorldWatcher]

Dear Ben,

Kiss my ass.

Sincerely,

WW

 

[Couchpotato]

Well, yes I am. I am owed it as that was the agreement when the program was create and the right to take money directly from my paycheck was created.

Well no you arent. SS is just a tax and welfare system you fool. If Congress ended it tmw there is literally nothing you could about. You couldn't make some claim that the Government owed you a dime. I guess you could claim it but they wouldnt have to give it to you.

 

[leftwinger]

Yes, yes, yes. We know. Been hearing the same story out of the right wing for almost 40 years now. Get over it. Taxes are a part of life necessary to keep government functioning and Social Security was a promise at its very core.
The caps need to be removed. We can discuss a hike in the percentage later.

No. The GOVT should have saved that SS money somewhere safe. They raided it and spent it. Now they have to repair it.

 

[Lisa558]

It literally is set up like a Ponzi scheme. When SS was created there were seven workers paying in for every one retiree. Today there are less than two paying in. It was set up with the assumption that everyone would keep having five, six, seven kids, but "the pill" got invented 30 years later. Eventually, the people at the bottom of the pyramid won't be cashing out without major changes like raising the collection age or increasing the tax.

I'm 41. I don't even factor SS into my retirement planning because in my opinion it's a 50/50 chance it will be insolvent by then after your generation bleeds it dry because you refuse to change.

Do you expect those of us already at SS age to “change”? How would that be fair to suddenly take away what is often half the income of a current retiree?

We have to phase changes in gradually but not impact those on the cusp of or already in retirement.

 

[WEATHER53]

cool story why should society have to fund your hobbies or retirement?

People that are 65+ and collecting now have paid in for40 years
You are another douche who disdains responsible people who planned for themselves

 

[leftwinger]

Well no you arent. SS is just a tax and welfare system you fool. If Congress ended it tmw there is literally nothing you could about. You couldn't make some claim that the Government owed you a dime. I guess you could claim it but they wouldnt have to give it to you.

A Court would back the Gater i am betting. It was forced on him with contractual promises.

 

[Concerned American]

Supposedly that is exactly what happens? You pay 12% (total? of every income dollar earned. You get back based on what you paid in?

The Social Security tax rate that employees and employers each pay is 6.2% of employee compensation, for a total of 12.4%. Those who are self-employed are liable for the full

Under my scenario, the SS contributions could be lowered for everyone. The change that would make that possible would be that EVERYONE earning in the US pays into the fund. That would include state and municipal employees who are currently often exempted. There also would be no cut-offs--currently any earnings over ~$168K per year are exempted from SS contributions. Those caps would be removed. It's moot anyway, a pipe dream if you will. The crooks in DC will do what they want with no intention of doing anything that would truly benefit the common American. They are the cash cows and the politicians know it.

 

[Concerned American]

People that are 65+ and collecting now have paid in for40 years
You are another douche who disdains responsible people who planned for themselves

Unless they immigrated to the US at 52.

 

[Dont Taz Me Bro]

Do you expect those of us already at SS age to “change”? How would that be fair to suddenly take away what is often half the income of a current retiree?

How is the very real possibility of your kids and grandkids paying into it their whole lives being left high and dry because your generation was too greedy and self serving to take make necessary changes for the betterment of everyone?

 

[WEATHER53]

Unless they immigrated to the US at 52.

Even there you get a stipend that is stipulated lower for the shorter period of time that you paid in.

 

[WorldWatcher]

Another thing is that if you did well and saved into other retirement vehicles, and were an upper-class income earner (say, $130k), you are likely to have to pay income tax on almost all your SS earnings.

So, a modest earner who gets $500 a month not only gets more-per-dollar on her contributions than a high earner does, the $500 is tax free and the $3400 is almost completely taxable.

For single filers the limits are

• <$25,000 = 0% SS as income
• $25,000 to $34,000 = 50% SS taxed as income
• > $34,000 = 85% SS taxed as income

And this is combined income, meaning SS itself counts towards the maximum.

I point this out as it's not just "high earners" that pay income tax on SS. If you:

• Taking money out of a 401K,
• Retired Military,
• Drawing another pension.

You are pretty much going to be paying the highest Income Tax rate on SS benefits.

WW

 

[Concerned American]

Ummm It's wildly illegal not to pay into SS.

Many state and municipal employees are exempted from paying into social security.

 

[WEATHER53]

How is the very real possibility of your kids and grandkids paying into it their whole lives being left high and dry because your generation was too greedy and self serving to take make necessary changes for the betterment of everyone?

Heard this crap since the 70’s. It’s going to fall on younger people’s shoulders is a constant lib loon lament for decades.