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If you increase the taxable income, you MUST also increase the max Social Security payout. That would mean that Social Security expenses would dramatically increase, with the increased revenue.
It earns like 1% or something like that.
Really?The market will always rebound. It's in a slump the last year but again, it will come back.
If you look at how insurance companies operate and are successful, they take your premium money and make investments. The profits made from those investments offsets many of the claims.
Our government on the other hand doesn't make very good investments with our SS money. It earns like 1% or something like that. So basically they take your money and stuff it in between mattresses somewhere.
Now when it comes time to pay, they have just about the same money as they put in those mattresses. That's why insurance companies are successful and our government is a failure.
In order to work well, it needs an ever expanding population. Its a ponzi scheme.Worst case SS pays out only what it collects. We then get 80% of promised benefits.
If the cap is raised and people under 54 have 1-year added to the 62/67 ages that should "fix" SS well into the future.
Its NOT a ponzi scheme, it worked well for 80-years.
Social security has never ripped anyone off? Millions of people have died while paying in for years and never getting one cent back.Social Security never ripped anyone off, actually the reverse has happened.
But on to the largest Wall Street ponzi scheme.
Bernard Lawrence Madoff was an American fraudster and Wall Street financier who ran (likely for decades) the largest, possibly most devastating Ponzi scheme in history, defrauding thousands of investors out of about $64.8 billion.
A well-known Wall Street investment advisor, became world-famous for operating possibly the largest Ponzi scheme in history. When investigators for the FBI and the SEC finally uncovered the massive fraud in 2008, losses by Madoff’s investors were estimated at more than $50 billion over the course of nearly 20 years.
So, the little old cat lady invested, then she is sleeping on a park bench.
Really?
88 years of reliable returns.
Teabaggers hate it because, it's government run and corporations have to contribute to their employees'well-being.
Teabaggers want to privatize SS so, Wall Street gets their cut of EVERYTHING.
If a person has extra $$$ to invest, so be it.
But to force people to invest in Wall Street is stupid.
Wall Street works, MOST of the time.
Social Security works, ALL the time.
Same with the stock market.Social security has never ripped anyone off? Millions of people have died while paying in for years and never getting one cent back.
Sure, IF you have a designated beneficiary.In an IRA, at least your family would be protected.
Same with the stock market.
No beneficiaries, no one gets your $$$, but Wall Street.
Sure, IF you have a designated beneficiary.
Sure, republicans have used that excuse since SS inception, "running out of $$$'Well with the projected date when it's out of money, it doesn't seem that it will work in the future.
Republicans would.I would rather give some of my money to Wall Street than all of it to government if I didn't make it to retirement age.
Yeah, so is the employer, teabaggers can't stand that.I don't think anybody should be forced into anything either the private or government markets. I think it should be an individual choice. But as things are, we ARE forced to contribute to the government when you earn a living.
Pretty much, EVERY TIME republicans bring up cutting or eliminating Social Security.When we depend on government to take and handle our retirement money, that creates more government dependents. That's why the Democrats will fight tooth and nail to make sure that doesn't happen. Furthermore it's a wedge issue. How many times has this claim came up that Republicans want to take your SS or Medicare away?
Republicans are doing a fine job, ALL by themselves, as you just demonstrated.How would Democrats get more people to vote for them unless they can create lies to scare people to vote for them?
Biden refused to name them, but here's the names of some of the loudest ones...
Do the USMB rightwing Republican-voters agree w/this attack on social security?
What's your position on this matter?
With Social Security, people don't have to worry about that.So who doesn't have a designated beneficiary?
WTF?That would be pretty stupid. Anybody smart enough to invest in their own IRA is smart enough to make sure who gets if if they pass away.
So instead of staying fucking poor and middle class, in otherwords satisfied with their lives, they should strive for even more, like i did. I started as a Fry cook at McDonalds, then went into the AIR FORCE and got skills, took those skills over to Saudi Arabia making 70k a year tax free. Invested heavily while over there, came back and worked another 20 years as a building inspector. Retired with a very well off stock portfolio. If a Fry cook from McDonalds can do it, anyone can. Of course my SS will be 75% less than a poor person gets because of the "EQUITY" of the Ponzi scheme...This is an interesting question.
#1 The wealthy do get to take advantage SS based on wage income they have worked over their career.
#2 Studies have shown that wealthy people live longer than poor to middle-income people because wealth provides an advantage to better health care, better wellness profiles, better resources during their working career where they have the ability for better diet, proper exercise, life-styles, and wellness options. In addition to better medical care and life styles in retirement. This translates to about 8-9 years of additional benefits when comparing duration of benefits for poor and wealthy.
So yes, they do get to take advantage of the program and they can (on average) take advantage for longer periods.
Just fyi...
WW
Rich people live longer and have 9 more healthy years than poor people, according to new research
A significant new study found rich men and women enjoy nine more healthy years than the poorest people in their countries.www.insider.com
How about we tax the poor, make them pay their fair share?Of the two SS is by far the easiest to fix. Raise the cap on taxable income to $1M from the current $148K. Problem solved. One step further would be to means test for benefits.
With Social Security, people don't have to worry about that.
WTF?
There is NO shortage of STUPID people in the US.
Sure YOUR plan worked for you, as do the majority of people, that make a good financial plan.So instead of staying fucking poor and middle class, in otherwords satisfied with their lives, they should strive for even more, like i did. I started as a Fry cook at McDonalds, then went into the AIR FORCE and got skills, took those skills over to Saudi Arabia making 70k a year tax free. Invested heavily while over there, came back and worked another 20 years as a building inspector. Retired with a very well off stock portfolio. If a Fry cook from McDonalds can do it, anyone can. Of course my SS will be 75% less than a poor person gets because of the "EQUITY" of the Ponzi scheme...
Also Stupid people actually believe that it is their responsibility to pay the full amount of taxes that the Marxists demand of them. A fool and his money are soon parted...True, but the stupid people make no investments at all. The smarter people do. Of course you don't have to worry about taking the time to fill out who your beneficiary is (which takes a whole 10 seconds) because the government just takes all your money upon death.
OK, what if that beneficiary dies?True, but the stupid people make no investments at all. The smarter people do. Of course you don't have to worry about taking the time to fill out who your beneficiary is (which takes a whole 10 seconds)
No, they don't, the wife, husband or the children can automatically apply for survivor's benefits.because the government just takes all your money upon death.
Oh like the time i got laid off between the military and going overseas? Yeah, shit happens, but in the United States, those that dust off their boots and go out of their comfort zone (like living in Saudi Arabia) the reward is fantastic. As for i gots mine, yeah, i gots mine, i worked for mine, if someone lazy liberal fucks, moans and groans how fucked their lives are, then demand the government steal my money to supplement theirs, i have big issues.Sure YOUR plan worked for you, as do the majority of people, that make a good financial plan.
HOWEVER, LIFE gets in the way for some, perfect plan, THEN something happens.
Car accidents, sickness, children, or relative........................
So, screw them?
"I gots mine"?
What a crock of shit?OK, what if that beneficiary dies?
Then a person would have to designate a new one.
IF you don't Wall Street gets ALL that $$$.
No, they don't, the wife, husband or the children can automatically apply for survivor's benefits.
Without a designated beneficiary.
Agree, but what do we do about people staying alive! And as far as I can see we still need it.It worked great when we died much younger. Not so much today.
