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Is there any reason to think that poverty rates among the elderly wouldn't skyrocket to the level they were before Social Security? Could they even be worse because of the competitive global labor market?Folks should be given their money back, that they paid into SS and Medicare, so they can invest and spend their money as they wish. For example, give everyone in the USA a cash check to a 401k in payment for every dollar that was paid into SS minus every dollar that was paid to them directly.
That won't work as there isn't enough left of those funds to support those who are already near or at retirement age. They have been severely depleted by inflation over the years. To be just, the government would have to return every dollar paid in but adjust it for inflation plus a reasonable return had the citizen had that money to save and draw interest or invest.
We do need to begin now to slowly and carefully privatize all retirement accounts, including those held by employers to ensure that there won't be another Enron or Madoff scandal. And we have to accept that if people fail to save for their old age, it will be the responsibility of family and/or private charities to take care of them. That sounds cruel and harsh, but it really isn't. We either have freedom and personal responsibility for our choices or we give government power to assign us the rights we will have. There is nothing in between those two options.
Their share of it? Comrade, you think paying 15% of your salary for 45years to see a possible return of 1/10th the money that was put into SS/Medicare as fair? Stealing 13% of a man's family income to make your life easier is fair? You idea of fairness is pathetic.Is there any reason to think that poverty rates among the elderly wouldn't skyrocket to the level they were before Social Security? Could they even be worse because of the competitive global labor market?That won't work as there isn't enough left of those funds to support those who are already near or at retirement age. They have been severely depleted by inflation over the years. To be just, the government would have to return every dollar paid in but adjust it for inflation plus a reasonable return had the citizen had that money to save and draw interest or invest.
We do need to begin now to slowly and carefully privatize all retirement accounts, including those held by employers to ensure that there won't be another Enron or Madoff scandal. And we have to accept that if people fail to save for their old age, it will be the responsibility of family and/or private charities to take care of them. That sounds cruel and harsh, but it really isn't. We either have freedom and personal responsibility for our choices or we give government power to assign us the rights we will have. There is nothing in between those two options.
There is only one problem with SS and Medicare. The working wealthy have to pay their share of it, and receive the same return on their savings as the middle class, but they don't need it. They figure what's the use of their wealth if it doesn't allow them exclusivity. Of course it does, and they show it off at every opportunity, but it could be even more so if they were the only ones able to retire.
Pathetic.
Can you tell the class what unlimited expansion of credit means? Can you explain where the money comes from for our system of unlimited expansion of credit?"the 40+Trillion in checks they wrote to the banking cartel"
It would be good to post some evidence of this.
Why, you don't listen to evidence. You have some "other" person talking to you in your head.
global credit stock doubled from $57 trillion to $109 trillion in just 10 years (from 2000 to 2010)
Total Global Debt Has To Double To Over $200 Trillion By 2020 To Preserve Economic Growth | Zero Hedge
"the 40+Trillion in checks they wrote to the banking cartel"
So, what your reference says, and what you said, are almost completely disconnected. Thought so.
Is there any reason to think that poverty rates among the elderly wouldn't skyrocket to the level they were before Social Security? Could they even be worse because of the competitive global labor market?Folks should be given their money back, that they paid into SS and Medicare, so they can invest and spend their money as they wish. For example, give everyone in the USA a cash check to a 401k in payment for every dollar that was paid into SS minus every dollar that was paid to them directly.
That won't work as there isn't enough left of those funds to support those who are already near or at retirement age. They have been severely depleted by inflation over the years. To be just, the government would have to return every dollar paid in but adjust it for inflation plus a reasonable return had the citizen had that money to save and draw interest or invest.
We do need to begin now to slowly and carefully privatize all retirement accounts, including those held by employers to ensure that there won't be another Enron or Madoff scandal. And we have to accept that if people fail to save for their old age, it will be the responsibility of family and/or private charities to take care of them. That sounds cruel and harsh, but it really isn't. We either have freedom and personal responsibility for our choices or we give government power to assign us the rights we will have. There is nothing in between those two options.
Fine. Have at it. But you still didn't answer the question.
Yes I did. I'll number the two answers since you seem to have missed them.
>> What would you do with them.
1) Families used to live together.. I like that better than paying parents to die alone. Folks that run out of money and can't / don't want to work should turn to family. Such as retiring to live with their kids.
2) Folks should be given their money back, that they paid into SS and Medicare, so they can invest and spend their money as they wish. For example, give everyone in the USA a cash check to a 401k in payment for every dollar that was paid into SS minus every dollar that was paid to them directly.
Once more, what do you do with the people who outlive their money?
Their share of it? Comrade, you think paying 15% of your salary for 45years to see a possible return of 1/10th the money that was put into SS/Medicare as fair? Stealing 13% of a man's family income to make your life easier is fair? You idea of fairness is pathetic.Is there any reason to think that poverty rates among the elderly wouldn't skyrocket to the level they were before Social Security? Could they even be worse because of the competitive global labor market?
There is only one problem with SS and Medicare. The working wealthy have to pay their share of it, and receive the same return on their savings as the middle class, but they don't need it. They figure what's the use of their wealth if it doesn't allow them exclusivity. Of course it does, and they show it off at every opportunity, but it could be even more so if they were the only ones able to retire.
Pathetic.
Can you tell the class what unlimited expansion of credit means? Can you explain where the money comes from for our system of unlimited expansion of credit?Why, you don't listen to evidence. You have some "other" person talking to you in your head.
global credit stock doubled from $57 trillion to $109 trillion in just 10 years (from 2000 to 2010)
Total Global Debt Has To Double To Over $200 Trillion By 2020 To Preserve Economic Growth | Zero Hedge
"the 40+Trillion in checks they wrote to the banking cartel"
So, what your reference says, and what you said, are almost completely disconnected. Thought so.
Yes I did. I'll number the two answers since you seem to have missed them.
>> What would you do with them.
1) Families used to live together.. I like that better than paying parents to die alone. Folks that run out of money and can't / don't want to work should turn to family. Such as retiring to live with their kids.
2) Folks should be given their money back, that they paid into SS and Medicare, so they can invest and spend their money as they wish. For example, give everyone in the USA a cash check to a 401k in payment for every dollar that was paid into SS minus every dollar that was paid to them directly.
Once more, what do you do with the people who outlive their money?
Which answer confused you?
Is there any reason to think that poverty rates among the elderly wouldn't skyrocket to the level they were before Social Security? Could they even be worse because of the competitive global labor market?That won't work as there isn't enough left of those funds to support those who are already near or at retirement age. They have been severely depleted by inflation over the years. To be just, the government would have to return every dollar paid in but adjust it for inflation plus a reasonable return had the citizen had that money to save and draw interest or invest.
We do need to begin now to slowly and carefully privatize all retirement accounts, including those held by employers to ensure that there won't be another Enron or Madoff scandal. And we have to accept that if people fail to save for their old age, it will be the responsibility of family and/or private charities to take care of them. That sounds cruel and harsh, but it really isn't. We either have freedom and personal responsibility for our choices or we give government power to assign us the rights we will have. There is nothing in between those two options.
Why do you think the government is a better investor of your retirement money than you are? The government is pissing away our retirement funds, 15% of everyone's salary, is causing poverty not fixing it. It was and is a pyramid scheme, that is almost completely unfunded and will require your grand children to pay in 25% or so of their salary to make up for the fact that the government spent your salary, your retirement deposits, on parties, bonuses, and raises for themselves. The government employees are living large and now get more income and benefits and "parties" than the private sector ever has.
Is there any reason to think that poverty rates among the elderly wouldn't skyrocket to the level they were before Social Security? Could they even be worse because of the competitive global labor market?
Why do you think the government is a better investor of your retirement money than you are? The government is pissing away our retirement funds, 15% of everyone's salary, is causing poverty not fixing it. It was and is a pyramid scheme, that is almost completely unfunded and will require your grand children to pay in 25% or so of their salary to make up for the fact that the government spent your salary, your retirement deposits, on parties, bonuses, and raises for themselves. The government employees are living large and now get more income and benefits and "parties" than the private sector ever has.
Once more, what do you do with the people who outlive their money?
Once more, what do you do with the people who outlive their money?
Which answer confused you?
Once more, what do you do with the people who outlive their money?
Why do you think the government is a better investor of your retirement money than you are? The government is pissing away our retirement funds, 15% of everyone's salary, is causing poverty not fixing it. It was and is a pyramid scheme, that is almost completely unfunded and will require your grand children to pay in 25% or so of their salary to make up for the fact that the government spent your salary, your retirement deposits, on parties, bonuses, and raises for themselves. The government employees are living large and now get more income and benefits and "parties" than the private sector ever has.
Once more, what do you do with the people who outlive their money?
The same thing you do with people who spend all their money at any stage of life. If your neighbor gambles away all his money and is then hungry, what do you do?
I think his problem may be that he's not capable of thinking/doing things on his own, can only think of things in terms of media defined and / or government provided solutions, he probably worked for the government. That might explain his idea that we get all our ideas from republican media as a projection of the difference between getting all ones ideas from democrat media.Why do you think the government is a better investor of your retirement money than you are? The government is pissing away our retirement funds, 15% of everyone's salary, is causing poverty not fixing it. It was and is a pyramid scheme, that is almost completely unfunded and will require your grand children to pay in 25% or so of their salary to make up for the fact that the government spent your salary, your retirement deposits, on parties, bonuses, and raises for themselves. The government employees are living large and now get more income and benefits and "parties" than the private sector ever has.
Once more, what do you do with the people who outlive their money?
The same thing you do with people who spend all their money at any stage of life. If your neighbor gambles away all his money and is then hungry, what do you do?
Which answer confused you?
Once more, what do you do with the people who outlive their money?
Once more I'll answer, again numbered. You'll note that these are the same answers provided above.
1) Families used to live together.. I like that better than paying parents to die alone. Folks that run out of money and can't / don't want to work should turn to family. Such as retiring to live with their kids.
2) Folks should be given their money back, that they paid into SS and Medicare, so they can invest and spend their money as they wish. For example, give everyone in the USA a cash check to a 401k in payment for every dollar that was paid into SS minus every dollar that was paid to them directly. (just to add, in case they run out of money, see number (1) above, folks can get a job to earn money, and can seek welfare from charities.)
I think his problem is that he's not capable of doing anything on his own, can only think of things in terms of government provided solutions, he probably worked for the government.Once more, what do you do with the people who outlive their money?
The same thing you do with people who spend all their money at any stage of life. If your neighbor gambles away all his money and is then hungry, what do you do?
I think his problem is that he's not capable of doing anything on his own, can only think of things in terms of government provided solutions, he probably worked for the government.The same thing you do with people who spend all their money at any stage of life. If your neighbor gambles away all his money and is then hungry, what do you do?
I don't have a problem. I worked all of my life and saved. I have SS that I paid for, Medicare that I paid for, my investments that I paid for.
I have been fortunate. Many are less so. For instance, I paid for fire insurance on our houses my whole life and never got back a dime. All of my money went to others who were less fortunate and had to rebuild their houses. Should I whine like a baby for that?
Once more, what do you do with the people who outlive their money?
Once more I'll answer, again numbered. You'll note that these are the same answers provided above.
1) Families used to live together.. I like that better than paying parents to die alone. Folks that run out of money and can't / don't want to work should turn to family. Such as retiring to live with their kids.
2) Folks should be given their money back, that they paid into SS and Medicare, so they can invest and spend their money as they wish. For example, give everyone in the USA a cash check to a 401k in payment for every dollar that was paid into SS minus every dollar that was paid to them directly. (just to add, in case they run out of money, see number (1) above, folks can get a job to earn money, and can seek welfare from charities.)
Why would you assume that the people paying for their parents, and the charities that you seem to love to live off, would be any cheaper than SS and Medicare?
Which answer confused you?
Once more, what do you do with the people who outlive their money?
Once more I'll answer, again numbered. You'll note that these are the same answers provided above.
1) Families used to live together.. I like that better than paying parents to die alone. Folks that run out of money and can't / don't want to work should turn to family. Such as retiring to live with their kids.
2) Folks should be given their money back, that they paid into SS and Medicare, so they can invest and spend their money as they wish.
What if they don't have kids, or their kids don;t want to live with them?
Why should I pay the federal government to do anything for my parents and/or for my neighbor's parents, and/or for some elderly that have no family to fall back on? Is there some sort of understood law that we as a nation must run all charities and families out of business and convert them into federal programs? We should break the piggy bank of all citizens so our federal government can screw up our charities and bankrupt our families? We should tithe to our government and worship our government so it will take care of us with SS checks in our old age? WTF?And what do you do with those of them who outlive their money?
I think his problem is that he's not capable of doing anything on his own, can only think of things in terms of government provided solutions, he probably worked for the government.
I don't have a problem. I worked all of my life and saved. I have SS that I paid for, Medicare that I paid for, my investments that I paid for.
I have been fortunate. Many are less so. For instance, I paid for fire insurance on our houses my whole life and never got back a dime. All of my money went to others who were less fortunate and had to rebuild their houses. Should I whine like a baby for that?
Ah good. Then you have found the solution for the person who runs out of money before the end of their lives. Or the neighbor who gambles away all his money and is then hungry. Or those who failed to purchase insurance on their homes. Good for you. A moral society takes care of the truly helpless and even offers a hand up to the careless. clueless, and stupid. But a moral society does it out of their own pockets and not out of the pocket of the other guy.
