Should the Social Security and Medicare Age be Raised

[MarathonMike]

There are a lot of truckers in their 70s and 80s. It's not that grueling a job.

It depends on how you define "a lot". Trucking may not be grueling in the way construction work is, but it is very hard on your body to sit that long and it is mentally grueling driving all those miles with idiot drivers around you.

 

[Blues Man]

Yes you’re right but your point is meaningless. Most working poor and those in poverty have little knowledge of saving and investing. Why is this? Because we live in a failed state, that refuses to educate millions of poor Americans.

That's not an excuse in this day and age.

Even the poorest people can go to the library and have access to countless books on the subject not to mention the internet.

 

[Lisa558]

So you disagree with my statement? You think if a person is making 20K a year they are doing things the right way?

As we’ve seen, leftists come out swinging with the insults if anyone dares suggest that people should be held, even to a teensy degree, for their own outcomes.

A person earning $20k after a few years could enroll in a FREE vocational certificate of some type. Nowadays, there’s no excuse, with so much available online. And everyone has a computer - you can get a cheap one for the cost of a month’s worth of cigarettes and liquor.

 

[Blues Man]

Typical dumb con response. You just condemned millions of Americans, dumb ass. Try thinking for once.

In reality less than 3% of all wage earners make just the federal minimum wage

That 3% includes service workers who also get tips

 

[Lisa558]

That’s fine. They are responsible in part however would you demand they live in poverty and suffer all it’s many dysfunctions, because of dumb mistakes?

How do I demand they live in poverty? Am I saying “no….do not enroll in any type of training. I want you in poverty.”

The problem with leftists is they think the only way out of poverty is to rely on more direct giveaways. The REAL way out of poverty is to acquire some sort of minimal job training that will let you earn more.

 

[Lisa558]

In reality less than 3% of all wage earners make just the federal minimum wage

That 3% includes service workers who also get tips

It also includes teens in high school and college with part-time jobs. The only time I ever earned minimum wage was during college.

 

[Lesh]

What if the 6.2% of the money they contributed to SS went to a savings fund in their name invested earning a modest 5% instead of allowing the government to take it and spend it and distribute it as they please?

They have tried that in a few places and it was an abject failure.

As shown above...poorer folks can't save enough even if the market does well and if it doesn't ...they are totally screwed

 

[Lesh]

You know there is no SS Trust Fund do you?

It is mostly IOUs..................Really!!

If you believe that Treasury Bills aren't real, then you're right.

Of course they ARE real so...yea...you're an idiot

 

[Lesh]

Now you ignore social security?

That 200K invested at a very conservative 5% return provides more than 12000 addition dollars a year for 20 years.

Ohhh...so you understand that Social Security is the rock you build the rest of your retirement on.

Congrats.

You're getting there

 

[sartre play]

Comparatively speaking, it's always been that way. Social Security was designed knowing that about half the population who paid into it would never collect. Back when the act was first passed you had to be 60 to collect. That was also the average lifespan in the 1930s. Hence, what makes it a Ponzi scheme. Bush had the right idea with private accounts, but the Democrats demagogued the shit out of that proposal with scare tactics and lies and the Republicans, being the gutless wonders they are, ran away with their tail between their legs.

If we had passed Bushes private acct deal before the banks crashed everything, plenty of people now retiring would be in big trouble.

 

[Lesh]

My Mom taught Home economics.It had almost nothing to
do with economics except how to budget one's weekly
allowance for groceries.
Home economics is basically what Martha Stewart
was practicing.

Oddly she ended up in jail...

 

[Blues Man]

They have tried that in a few places and it was an abject failure.

As shown above...poorer folks can't save enough even if the market does well and if it doesn't ...they are totally screwed

Where?

and you have shown no such thing.

Just the Social Security contribution of both employee and employer is 12.4 %

if you made 35K a year with no raises for a 45 year working life that's 361 a month

over 45 yeas with ab average ROR of 8% (which is less than the historical average 50 year return of the market) you would have 1.75 million dollars
That amount of money would pay more in retirement annually than you ever earned in your working career.

since 150K invested at a very conservative 5% will provide 12000 a year for 20 years your maximum annual income would be almost 12000 a month

if you live on 6000 a month you will literally never run out of money and have more when you died than when you retired

 

[Blues Man]

Ohhh...so you understand that Social Security is the rock you build the rest of your retirement on.

Congrats.

You're getting there

only for the very poor but as I just showed you if they could invest the 12.4% of their income that SS takes they would be wealthy

My savings provides most of my retirement income not SS

 

[Lesh]

Let's say you make minimum wage of $15 and hour at a full time job. That's roughly $450 a week take home. Forty five dollars of that goes right into the bank. That's $193 a month or $2322 a year.

At 3% interest that's roughly $175000 after 40 years. And that's assuming you never make more than $15 an hour!

Where?

and you have shown no such thing.

Just the Social Security contribution of both employee and employer is 12.4 %

Were you to put all your money into the stock market and fuck up or have it crash...you're TOTALLY screwed.

Of course being wealthy...that would never be your problem...and even if it does...you'll still have SSI bennies

 

[Lesh]

And newsflash...employers ain't gonna be handing over that 6% to you. They will pocket it

 

[Lesh]

Face it...we're SURROUNDED by people who make bad financial decisions...

You want those folks to put all their retirement into the stock market?

brilliant

 

[Blues Man]

only for the very poor but as I just showed you if they could invest the 12.4% of their income that SS takes they would be wealthy

Were you to put all your money into the stock market and fuck up or have it crash...you're TOTALLY screwed.

Of course being wealthy...that would never be your problem...and even if it does...you'll still have SSI bennies

Once again you are merely illustrating your ignorance.

It's call a BALANCED portfolio.

Buy and hold strategy

Even with all the ups and downs of the market you can pick any 45 year span and you will see that the average return in that 45 year span was better than the 8% I used in my projections.

This isn;t rocket science and anyone can understand it, well maybe anyone but you.

 

[Blues Man]

Face it...we're SURROUNDED by people who make bad financial decisions...

You want those folks to put all their retirement into the stock market?

brilliant

Yes and all those people are just completely unable to learn anything right?

So let's make everyone lose out because of the few that refuse to take responsibility.

 

[Lisa558]

If we had passed Bushes private acct deal before the banks crashed everything, plenty of people now retiring would be in big trouble.

How so? True….there was a massive drop, but it recovered. In fact, it was a buying opportunity, and I ended up retiring 18 months ahead of schedule.

 

[Blues Man]

And newsflash...employers ain't gonna be handing over that 6% to you. They will pocket it

Not if they are forced by law like they are now to contribute.

DUH