Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
That's my line - take responsibility for what you say and do but --
If everyone told the truth, how many here do you think have enough put away to live for, say 10 years?
We ARE human beings. We cannot just stand by while others starve, while children don't have homes, while our vets stand on the street corner.
I repeat: Lack of proper planning on your part does not constitute an emergency on my part. Your poor planning is NOT my problem!
But why should children, vets, mentally ill suffer for something they cannot control?
The Trust Fund is a separate entity inside the government. SS has a set, specific revenue source, the payroll tax. The investment of the trust fund in federal securities is no more the government issuing IOU's to itself than is a soldier buying a savings bond.
Wrong. The soldier owns the savings bond, not the government. The SS Trust Fund is part of the government. What the government did is issue an I.O.U to itself. They are not a source of funds the government can draw on because the government is the entity that has to pay them off.
It takes a special kind of stupid not to understand how worthless the Trust Fund is, especially after having it explained as many times as I've explained it to you.
Here's an exercise in learning by doing. Take a piece of paper and write "I.O.U $2 trillion dollars." Now, stick it in your pocket. Are you any richer than before you wrote the I.O.U.?
The soldier is part of the government too.
Question:
How did Social Security manage to fully pay everyone in the last 2 years, even though annual payroll tax revenues each year were not enough?
How did Social Security obtain the extra money, if the Trust Fund is of no value?
It is my opinion that Social Security funding will improve before the benefits are ever stopped or reduced. Even conservative elderly rely heavily on SS Disability and Pensions.And then when tens of millions of Americans get old and have squandared every penny they have, or had their retirement funds ripped off by frauds on Wall Street, what then?
Die!
So you don't have a 401 k do you,and you are against them for just the reasons you posted right?
The easiest (and I believe the best way to protect Social Security is to remove all of the income caps on which FICA is collected. That will solve all the problems very quickly.
It is my opinion that Social Security funding will improve before the benefits are ever stopped or reduced. Even conservative elderly rely heavily on SS Disability and Pensions.And then when tens of millions of Americans get old and have squandared every penny they have, or had their retirement funds ripped off by frauds on Wall Street, what then?
Die!
So you don't have a 401 k do you,and you are against them for just the reasons you posted right?
The easiest (and I believe the best way to protect Social Security is to remove all of the income caps on which FICA is collected. That will solve all the problems very quickly.
It is my opinion that Social Security funding will improve before the benefits are ever stopped or reduced. Even conservative elderly rely heavily on SS Disability and Pensions.So you don't have a 401 k do you,and you are against them for just the reasons you posted right?
The easiest (and I believe the best way to protect Social Security is to remove all of the income caps on which FICA is collected. That will solve all the problems very quickly.
I believe the best way to protect Social Security is to remove all of the income caps on which FICA is collected.
If a rich person pays twice the FICA, they'll get twice the benefit.
How will that "solve all the problems very quickly"?
You are close Brit, but not precisely what I meant. All benefits are currently skewed toward the less wealthy. Maintaining that formula will pay appropriate benefits to EVERYONE, but still add to the trust fund such that it will be solvent.It is my opinion that Social Security funding will improve before the benefits are ever stopped or reduced. Even conservative elderly rely heavily on SS Disability and Pensions.
The easiest (and I believe the best way to protect Social Security is to remove all of the income caps on which FICA is collected. That will solve all the problems very quickly.
I believe the best way to protect Social Security is to remove all of the income caps on which FICA is collected.
If a rich person pays twice the FICA, they'll get twice the benefit.
How will that "solve all the problems very quickly"?
He wants to raise the rich person's taxes but not his benefits. They'll have a hard time pretending SSI is not a welfare program if that ever happens.
Politicians say SS will keep paying out 15, 20, 30 etc. years. But will it?
You know about the Social Security Trust Fund, right? And how it's empty?
They keep telling us it's got oodles of money in it, and that that money will let SS stay solvent for 15 years, 20 years, 22 years, etc., depending on which politician is talking today. But in fact, it's got nothing but government IOUs in it.
All the money was taken out and spent on other non-SS programs years ago. And since SS expenditures exceeded revenues a year or two back, no more money is flowing into the Trust Fund, except that which is immediately taken out and spent the next day. Part of the National Debt is money the govt has "borrowed" from the SS Trust Fund and other such Funds it maintains.
Debt to the Penny (Daily History Search Application)
Today the National Debt is about $17.5 trillion. Of that, $5 trillion is owed to the SS Trust Fund and other such funds. That's nearly 30% of the National Debt, owed to these Trust Funds.
That means that, in order for the SS Trust Fund and similar funds to actually keep paying what is owed to SS recipients, the money first has to be paid back into the Trust Funds by the government, and then paid out to SS recipients etc.
And if Social Security and the other programs are actually solvent and able to keep paying for the 20 years or whatever the current politicians are promising before it's emptied, that means that ALL the money owed to the trust funds, must be paid off within those 20 years, so it can be paid out to the recipients.
Have you heard of any plans by any of these politicians, to pay off nearly 30% of the National Debt within the next 20 years?
Neither have I.
They'll have to either balance the budget and start running a surplus, to pay off that 30% of the Debt, or they'll have to start borrowing a LOT more money from China or whomever is foolish enough to keep lending to someone who has no intention of ever paying it back. On top of the $trillions they've already borrowed.
Next time you hear some politician talk about how "solvent" Social Security is, ask him where the money is going to come from to pay off the recipients. Retirees who expect to draw out of SS the money they've been forced to pay in most of their lives. Drawing that money out of a Social Security Trust Fund that in fact is empty, except for a lot of government IOUs.
No big deal. Your taxes will be raised to pay back Social Security all the money that was borrowed.
Duh, been saying this for years. Bush recognized this and tried to do something, but the left screeched and hollered that the sky would come tumbling down because people would actually have more control over their own retirement and golly gee, we can't have that.
Over the last month, millions of students have been celebrating their college graduation. These students have been saving, studying, and looking forward toward to that moment for years. Now with graduation behind them, their next big investment could be a car, a house, or even open a portfolio for retirement. Unfortunately, a recent Pew poll found that only eight percent of millennials expect to receive full Social Security benefits when they retire. With a bleak postgraduate job climate, the prospects for government-backed retirement insurance may be even worse. The Social Security system in the U.S. is in financial ruin and requires structural changes in the form of private retirement account options to ensure Millennials receive benefits upon retirement.
Read more: Sorry, College Grads, You?ll Probably Never Get Your Social Security Money | The Daily Caller
We fixed SS in 1983 when it was in far worse shape than it is now.
Politicians say SS will keep paying out 15, 20, 30 etc. years. But will it?
You know about the Social Security Trust Fund, right? And how it's empty?
They keep telling us it's got oodles of money in it, and that that money will let SS stay solvent for 15 years, 20 years, 22 years, etc., depending on which politician is talking today. But in fact, it's got nothing but government IOUs in it.
All the money was taken out and spent on other non-SS programs years ago. And since SS expenditures exceeded revenues a year or two back, no more money is flowing into the Trust Fund, except that which is immediately taken out and spent the next day. Part of the National Debt is money the govt has "borrowed" from the SS Trust Fund and other such Funds it maintains.
Debt to the Penny (Daily History Search Application)
Today the National Debt is about $17.5 trillion. Of that, $5 trillion is owed to the SS Trust Fund and other such funds. That's nearly 30% of the National Debt, owed to these Trust Funds.
That means that, in order for the SS Trust Fund and similar funds to actually keep paying what is owed to SS recipients, the money first has to be paid back into the Trust Funds by the government, and then paid out to SS recipients etc.
And if Social Security and the other programs are actually solvent and able to keep paying for the 20 years or whatever the current politicians are promising before it's emptied, that means that ALL the money owed to the trust funds, must be paid off within those 20 years, so it can be paid out to the recipients.
Have you heard of any plans by any of these politicians, to pay off nearly 30% of the National Debt within the next 20 years?
Neither have I.
They'll have to either balance the budget and start running a surplus, to pay off that 30% of the Debt, or they'll have to start borrowing a LOT more money from China or whomever is foolish enough to keep lending to someone who has no intention of ever paying it back. On top of the $trillions they've already borrowed.
Next time you hear some politician talk about how "solvent" Social Security is, ask him where the money is going to come from to pay off the recipients. Retirees who expect to draw out of SS the money they've been forced to pay in most of their lives. Drawing that money out of a Social Security Trust Fund that in fact is empty, except for a lot of government IOUs.
Duh, been saying this for years. Bush recognized this and tried to do something, but the left screeched and hollered that the sky would come tumbling down because people would actually have more control over their own retirement and golly gee, we can't have that.
We fixed SS in 1983 when it was in far worse shape than it is now.
those politicians probably cared more about the Country......today all they see with SS is more ....$$$$$$$
Obamacare and mandatory cut-off ages for various illnesses will solve the Social Security problem quite handily, thank you.
Politicians say SS will keep paying out 15, 20, 30 etc. years. But will it?
You know about the Social Security Trust Fund, right? And how it's empty?
They keep telling us it's got oodles of money in it, and that that money will let SS stay solvent for 15 years, 20 years, 22 years, etc., depending on which politician is talking today. But in fact, it's got nothing but government IOUs in it.
All the money was taken out and spent on other non-SS programs years ago. And since SS expenditures exceeded revenues a year or two back, no more money is flowing into the Trust Fund, except that which is immediately taken out and spent the next day. Part of the National Debt is money the govt has "borrowed" from the SS Trust Fund and other such Funds it maintains.
Debt to the Penny (Daily History Search Application)
Today the National Debt is about $17.5 trillion. Of that, $5 trillion is owed to the SS Trust Fund and other such funds. That's nearly 30% of the National Debt, owed to these Trust Funds.
That means that, in order for the SS Trust Fund and similar funds to actually keep paying what is owed to SS recipients, the money first has to be paid back into the Trust Funds by the government, and then paid out to SS recipients etc.
And if Social Security and the other programs are actually solvent and able to keep paying for the 20 years or whatever the current politicians are promising before it's emptied, that means that ALL the money owed to the trust funds, must be paid off within those 20 years, so it can be paid out to the recipients.
Have you heard of any plans by any of these politicians, to pay off nearly 30% of the National Debt within the next 20 years?
Neither have I.
They'll have to either balance the budget and start running a surplus, to pay off that 30% of the Debt, or they'll have to start borrowing a LOT more money from China or whomever is foolish enough to keep lending to someone who has no intention of ever paying it back. On top of the $trillions they've already borrowed.
Next time you hear some politician talk about how "solvent" Social Security is, ask him where the money is going to come from to pay off the recipients. Retirees who expect to draw out of SS the money they've been forced to pay in most of their lives. Drawing that money out of a Social Security Trust Fund that in fact is empty, except for a lot of government IOUs.
No big deal. Your taxes will be raised to pay back Social Security all the money that was borrowed.
and so you think they still wont touch it?.....all that will do is give them more money to blow....
Politicians say SS will keep paying out 15, 20, 30 etc. years. But will it?
You know about the Social Security Trust Fund, right? And how it's empty?
They keep telling us it's got oodles of money in it, and that that money will let SS stay solvent for 15 years, 20 years, 22 years, etc., depending on which politician is talking today. But in fact, it's got nothing but government IOUs in it.
All the money was taken out and spent on other non-SS programs years ago. And since SS expenditures exceeded revenues a year or two back, no more money is flowing into the Trust Fund, except that which is immediately taken out and spent the next day. Part of the National Debt is money the govt has "borrowed" from the SS Trust Fund and other such Funds it maintains.
Debt to the Penny (Daily History Search Application)
Today the National Debt is about $17.5 trillion. Of that, $5 trillion is owed to the SS Trust Fund and other such funds. That's nearly 30% of the National Debt, owed to these Trust Funds.
That means that, in order for the SS Trust Fund and similar funds to actually keep paying what is owed to SS recipients, the money first has to be paid back into the Trust Funds by the government, and then paid out to SS recipients etc.
And if Social Security and the other programs are actually solvent and able to keep paying for the 20 years or whatever the current politicians are promising before it's emptied, that means that ALL the money owed to the trust funds, must be paid off within those 20 years, so it can be paid out to the recipients.
Have you heard of any plans by any of these politicians, to pay off nearly 30% of the National Debt within the next 20 years?
Neither have I.
They'll have to either balance the budget and start running a surplus, to pay off that 30% of the Debt, or they'll have to start borrowing a LOT more money from China or whomever is foolish enough to keep lending to someone who has no intention of ever paying it back. On top of the $trillions they've already borrowed.
Next time you hear some politician talk about how "solvent" Social Security is, ask him where the money is going to come from to pay off the recipients. Retirees who expect to draw out of SS the money they've been forced to pay in most of their lives. Drawing that money out of a Social Security Trust Fund that in fact is empty, except for a lot of government IOUs.
Government IOU's are what everyone holds if they invest in US bills or bonds. Where would recommend SS invest its money?
Greece?
We fixed SS in 1983 when it was in far worse shape than it is now.
those politicians probably cared more about the Country......today all they see with SS is more ....$$$$$$$
Well, we could change the mandate and require SS to invest its revenue in foreign bonds instead of US bonds...
No big deal. Your taxes will be raised to pay back Social Security all the money that was borrowed.
and so you think they still wont touch it?.....all that will do is give them more money to blow....
Social Security holds bonds. They constantly mature, then they are redeemed. The federal government has to redeem the bond, or default.
I can't name any politicians in Washington who support a US default on SS securities leading to cessation of SS paychecks,
can you?
You are close Brit, but not precisely what I meant. All benefits are currently skewed toward the less wealthy. Maintaining that formula will pay appropriate benefits to EVERYONE, but still add to the trust fund such that it will be solvent.I believe the best way to protect Social Security is to remove all of the income caps on which FICA is collected.
If a rich person pays twice the FICA, they'll get twice the benefit.
How will that "solve all the problems very quickly"?
He wants to raise the rich person's taxes but not his benefits. They'll have a hard time pretending SSI is not a welfare program if that ever happens.
