Will Republicans end social security?

[paulitician]

It's up to our new King, Donald Trump. We'll see what he decides.

GO TRUMP! GO TRUMP! ITS YA BIRFDAY!

 

[regent]

Well Republicans told us Social Security would lead America straight to communism. That was in the early Thirties, Are we there yet?

 

[g5000]

It would be bigly, epic fun to watch a bunch of Trump's Chumps who bleev everything they are told to bleev take out all their money from SS and invest in Trump's deregulated Wall Street and watch them get completely fleeced.

"I just invested in a bridge and some waterfront property!"

 

[Ray From Cleveland]

I'd rather take the monthly payments until I die, at least then, I'll get my money back with interest.

No you won't! No, you won't. You're deluding yourself if you believe that nonsense. Social Security is not an investment. It does not pay interest. It is an ENTITLEMENT. Why can't you get that through your head? Benefits are not based on your "contributions." They are based on Congressional calculations about when you are probably going to die. And those can be changed at pretty much any time. In fact, the number one recommendation by people to "save" Social Security is to change the numbers! They want tax us more, and pay us less later on. And that's the bullshit you think pays you interest!?!

Have you ever tried to actually do the math before? As it stands now, you have to live to be nearly 100 before you'd get out of Social Security everything you've been taxed, assuming you retire at 67 years old.

I guess that might depend on how much you make. For us middle-class working folk, we will get much more back than we put in if we retire at the age of 65 and live the average lifespan in the US. Depending on your income, you have to work two or three months to create one SS check when you retire. That's why the system is going broke.

 

[Ray From Cleveland]

I hope the filthy ass government gets out of the oppressive business of taking money away from the people that earn it and giving it to the people that didn't earn it. You know, welfare, subsidies, bailouts and entitlements.

By the way Moon Bat. The Bible teaches that charity should come from the heart, family and church. Nothing about corrupt politicians elected by greedy special interest groups dishing it out.

Since I am a generous person I may chose to help you out. However it is thievery for the government thugs to take my money by force and then give it to you.

Forced charity is not charity at all. Forced charity is theft.

 

[Ray From Cleveland]

AS I said... no thank you! I'd rather take the monthly payments until I die, at least then, I'll get my money back with interest.

and sorry, your bs doesn't fly...first you say govt should just give us back the money we paid in to it....and now you say there IS NONE of our money that we paid in to it....

make up your mind....

Yes, you are correct that you will get that money back and more if you live the average lifespan. But every year or two years, SS sends out a pamphlet telling what you (and your employer) contributed to the plan, and how much you will get in return if you retire at X age. Now take that pamphlet to a reputable investment agent, and ask him or her to figure out what you would be worth today (and at retirement) had you invested that money in a conservative stock plan. You'd be shocked.

If I die on my 65th birthday the day after I retire, my family will get all of my assets. My nephew and niece will get my home. They will get my rental property. They will get my car and all the content of my house. They will get my IRA account, checking account, savings accounts. What they will not see is one red cent of all my SS contributions. That's gone. POOF!

 

[Ray From Cleveland]

I sure hope so. I thought repealing Obamacare would be the one good thing about Trump winning, but that looks like it's a no-go. Maybe ending Social Security will be my silver lining. My plan calls for a five year phase out, ending in a lump payout to everyone who has paid SS taxes, based on to-date lifetime earnings. I think that is perfectly reasonable. Really, I'd like to see it on a 1 year timeline.

That would be a total ripoff because people would be getting no interest money back, and if you're older like I am, it would be too late to invest that money into the market to make enough to live off of when you soon retire.

The way to end SS is the way Bush introduced it: allow people to take some of their SS contributions and invest that money themselves. Eventually most people will opt out of the system and use that money to invest for their retirement instead. However that money must be taken from people by force otherwise they will not take that money for investment themselves. But if we start allowing people to invest say 20% of their money, and keep increasing that percentage they are allowed to invest as time goes on, SS will die out on it's own and nobody gets hurt.

 

[SwimExpert]

That would be a total ripoff because people would be getting no interest money back

There's no such thing as interest on your Social Security taxes.

and if you're older like I am, it would be too late to invest that money into the market to make enough to live off of when you soon retire.

Then die. If you were too stupid to plan for your own retirement, and you expected to simply live off of government cheese, then you deserve to starve to death while sleeping on a park bench on a cold winter night.

 

[Uncensored2008]

It wasn't discussed during the elections but does any one doubt SS is going to be put on the chopping block?

No way one usmb Republican will say they like and want to keep SS.

And if they want to at least tell us in 2019 so we can vote on it.

Of course not, what an absurd thing to post.

Privatizing the system is a phased plan that will take decades.

 

[Ray From Cleveland]

That would be a total ripoff because people would be getting no interest money back

There's no such thing as interest on your Social Security taxes.

and if you're older like I am, it would be too late to invest that money into the market to make enough to live off of when you soon retire.

Then die. If you were too stupid to plan for your own retirement, and you expected to simply live off of government cheese, then you deserve to starve to death while sleeping on a park bench on a cold winter night.

There's no such thing as interest on your Social Security taxes.

That's the point.

Then die. If you were too stupid to plan for your own retirement, and you expected to simply live off of government cheese, then you deserve to starve to death while sleeping on a park bench on a cold winter night.

Yes, I'm sure that's what you think Republicans are about to do too.

 

[initforme]

He knows if he ends it he is a one term prez. If its soi bad, then tell folk how to invest risk free. Free of charge. Then end it. Otherwise, go ahead, give it a try. Let's turn this nation into a full blown plutocracy. And some say class warfare should not enter the equation. I condone it.

 

[Rustic]

It wasn't discussed during the elections but does any one doubt SS is going to be put on the chopping block?

No way one usmb Republican will say they like and want to keep SS.

And if they want to at least tell us in 2019 so we can vote on it.

Social Security will end itself, it's bankrupt.

 

[Care4all]

AS I said... no thank you! I'd rather take the monthly payments until I die, at least then, I'll get my money back with interest.

and sorry, your bs doesn't fly...first you say govt should just give us back the money we paid in to it....and now you say there IS NONE of our money that we paid in to it....

make up your mind....

Yes, you are correct that you will get that money back and more if you live the average lifespan. But every year or two years, SS sends out a pamphlet telling what you (and your employer) contributed to the plan, and how much you will get in return if you retire at X age. Now take that pamphlet to a reputable investment agent, and ask him or her to figure out what you would be worth today (and at retirement) had you invested that money in a conservative stock plan. You'd be shocked.

If I die on my 65th birthday the day after I retire, my family will get all of my assets. My nephew and niece will get my home. They will get my rental property. They will get my car and all the content of my house. They will get my IRA account, checking account, savings accounts. What they will not see is one red cent of all my SS contributions. That's gone. POOF!

I agree that part stinks....too bad we can't buy in to for a small fee, some kind of insurance that could pay the spouse in addition to their own, social security from the dead spouse.

if your wife is younger than you when you die, she can collect death benefits, if your children are still underage they'll get benefits too...but that's about it...unless your wife never worked she will be able to draw 1/2 of YOUR full social security, the rest of her life...and as said...even if she never worked....

 

[sealybobo]

It wasn't discussed during the elections but does any one doubt SS is going to be put on the chopping block?

No way one usmb Republican will say they like and want to keep SS.

And if they want to at least tell us in 2019 so we can vote on it.

Social Security will end itself, it's bankrupt.

Isn't that because the politicians raided it? Then they need to put back what the took.

 

[Ray From Cleveland]

I agree that part stinks....too bad we can't buy in to for a small fee, some kind of insurance that could pay the spouse in addition to their own, social security from the dead spouse.

if your wife is younger than you when you die, she can collect death benefits, if your children are still underage they'll get benefits too...but that's about it...unless your wife never worked she will be able to draw 1/2 of YOUR full social security, the rest of her life...and as said...even if she never worked....

But isn't that one of the many reasons it's going broke?????

 

[Flash]

Well Republicans told us Social Security would lead America straight to communism. That was in the early Thirties, Are we there yet?

Thanks to Obama we are damn close. Thank god Crooked Hillary wasn't elected.

 

[WorldWatcher]

What if uncle sam gave you a lump sum buy out? My dad had a ford pension and he took the buy out. What would you take in exchange for ss? How much? How much have you paid in?

Just as a mental exercise I thought I'd come up with an answer fi I were elibile for retirement today.

Here it is -->> $378,338.42 (With no income tax liability at the federal or state level, the number goes up if taxes are to be paid on it.)

That represents principal the amount needed for an annuity that would pay equal to SS for a period of 25 years based on an investment rate of 5%.

I don't have the math skills or the records to calculate it but it still probably represents less than I paid in with compound interest for 40 years of working (and I've still got 9 more to go before reaching 100% retirement).



>>>>

 

[eflatminor]

No, basic economics and human nature will.

One more reason to leave retirement decision in the hand free people and as far away as possible from the central planners.

 

[sealybobo]

What if uncle sam gave you a lump sum buy out? My dad had a ford pension and he took the buy out. What would you take in exchange for ss? How much? How much have you paid in?

Just as a mental exercise I thought I'd come up with an answer fi I were elibile for retirement today.

Here it is -->> $378,338.42 (With no income tax liability at the federal or state level, the number goes up if taxes are to be paid on it.)

That represents principal the amount needed for an annuity that would pay equal to SS for a period of 25 years based on an investment rate of 5%.

I don't have the math skills or the records to calculate it but it still probably represents less than I paid in with compound interest for 40 years of working (and I've still got 9 more to go before reaching 100% retirement).



>>>>

Here's your $200,000. Sorry we're broke that's all we can afford.

 

[sealybobo]

What if uncle sam gave you a lump sum buy out? My dad had a ford pension and he took the buy out. What would you take in exchange for ss? How much? How much have you paid in?

Just as a mental exercise I thought I'd come up with an answer fi I were elibile for retirement today.

Here it is -->> $378,338.42 (With no income tax liability at the federal or state level, the number goes up if taxes are to be paid on it.)

That represents principal the amount needed for an annuity that would pay equal to SS for a period of 25 years based on an investment rate of 5%.

I don't have the math skills or the records to calculate it but it still probably represents less than I paid in with compound interest for 40 years of working (and I've still got 9 more to go before reaching 100% retirement).



>>>>

Or what if they said you couldn't retire till 70?

Or what if they froze your amount and you never got any cost of living increases.

Republicans are going to cut ss and Medicare. The question is how much. Maybe a little now and more in his second term