Some Inconvenient Facts About Social Security

[rightwinger]

It would be, if it wasn't a Ponzi scheme.
If my forced "contributions" were in an account designated for my retirement, they wouldn't need current workers to cover it.

So your solution is just to throw it out and start over?

 

[Orangecat]

So your solution is just to throw it out and start over?

I haven't offered a solution, kid.

 

[rightwinger]

I haven't offered a solution, kid.

So then we are stuck with making SS solvent

 

[Orangecat]

So then we are stuck with making SS solvent

If I personally don't come up with a solution, you think that means we are stuck making it solvent?
You're not very bright.

 

[ReinyDays]

In addition to Social Security, you should participate in a 401k type retirement and pay off your home.
That will ensure your retirement

... and use emotional blackmail on your kids .. make them help with your bills ...

 

[80zephyr]

You said:
"Why not raise retirement to 85 so we don't have to worry about this anymore? "

I was being facetious, but we are certainly headed in the right direction.

 

[80zephyr]

You really did not read that link, did you?

It applied to a Bulgarian who was deported.

The ruling applied to everyone, not just the Bulgarian.

 

[Admiral Rockwell Tory]

The ruling applied to everyone, not just the Bulgarian.

Yeah, everyone who was deported.

 

[80zephyr]

When are you hacks going to actually propose a solution to the problem instead of repeatedly telling us a problem exists?I know of the problem when I was in my 20s and I am now on SS at the age of 62. What is your solution that is viable?

We get tired of reading the same old shit from your masters of the obvious.

I have a 100 year plan. Every year, force the worker to put just one percent of his social security tax into an ira. Then in year two, force him to put in 2%. And so on. In 100 years,we will be weened off of social security. If any shortfall exists to pay current pensioners, the government can either make it up or tax us somehow.

 

[Admiral Rockwell Tory]

I was being facetious, but we are certainly headed in the right direction.

I know that. Right direction? As opposed to what?

Once again you are good at pointing out the problem, yet no one comes up with any solutions!

 

[Admiral Rockwell Tory]

I have a 100 year plan. Every year, force the worker to put just one percent of his social security tax into an ira. Then in year two, force him to put in 2%. And so on. In 100 years,we will be weened off of social security. If any shortfall exists to pay current pensioners, the government can either make it up or tax us somehow.

Are you seriously dumber than dirt?

Most people do not understand IRSs have a great potential for loss. I had to retire early at age 62 for health reasons. Thanks to Joe Biden's wonderful economy, I lost a good 20% of my retirement funds!

 

[rightwinger]

The OP pointed to the main challenge

We need to pay for existing retirees and those who are close to retiring. We can’t just waive our hands and absolve ourself of responsibility.

The best option is to incentivize 401 k, Roth and other retirement options to ensure people can retire comfortably

 

[80zephyr]

Yeah, everyone who was deported.

From my link:
The Court’s decision was not surprising. In an earlier case, Helvering v. Davis (1937), the Court had ruled that Social Security was not a contributory insurance program, saying, “The proceeds of both the employee and employer taxes are to be paid into the Treasury like any other internal revenue generally, and are not earmarked in any way.”

 

[80zephyr]

Are you seriously dumber than dirt?

Most people do not understand IRSs have a great potential for loss. I had to retire early at age 62 for health reasons. Thanks to Joe Biden's wonderful economy, I lost a good 20% of my retirement funds!

Do you know what unfunded liabilities are?

 

[Bezukhov]

I think it is without dispute that Social Security’s days are numbered, save for some massive tax increases the likes of which will be intolerable to some Americans.

Keep in mind that employers are required to match SS contributions. Thus, your employers are subsiding one-half of your SS income.

Actually we pay for all of SS. Employers just pass on their contributions in the form of higher prices or reduced wages.

 

[rightwinger]

Actually we pay for all of SS. Employers just pass on their contributions in the form of higher prices or reduced wages.

No they don’t
It is a cost of doing business just like wages

 

[Admiral Rockwell Tory]

Do you know what unfunded liabilities are?

Why are you insulting me? Of course I do, and those unfunded liabilities are funds that paid each budget year.

Do you often cry over spilled milk?

 

[Lord Long Rod]

Actually we pay for all of SS. Employers just pass on their contributions in the form of higher prices or reduced wages.

YOU don’t pay it though, do you? The cost is spread among the larger group (I.e., consumers). Or, you know, the business cannot afford it, then they shut down and you lose your job.

 

[Lord Long Rod]

Tough sh#t! I don't care where you get it. I don't want to hear it. Just get it and make sure we keep getting the checks we were promised. I was probably paying in, before you were born. Don't think of me as an unsecured creditor now. Just pay up, even if you have to raise taxes on the rich to pay for it. Just look in to my eyes and see if I give a sh#t, what you want to welsh out on.

I got news for you, White man. You will not get that free money in a few years. Sorry.

 

[Lord Long Rod]

So your solution is just to throw it out and start over?

I don’t think anyone is necessarily saying that, Vladimir.