Social Security

[kutter]

You do understand that social security is soon to become insolvent, right? Cutting the benefits of those that receive a military pension is not only morally questionable, but it’s not enough. You going to do the same to teachers that receive a teacher’s pension? Law enforcement? Politicians? All government employees? What about private sector employees that still get a pension as a benefit to their employment.

It’s an absolute myth that Republicans are seeking to cut social security, and Biden is spreading that lie to scare people into voting his way next election.

I’ll say it though…the whole thing is a Ponzi scheme no matter how much we wish it wasn’t. If I could simply opt out, I would. Give me that option. I won’t even be mad that the government has been robing me for all of my working life to this point, and accept that I will never receive a dime in benefits.

I agree that now it is a ponzi scheme, it was not when it was started. Its pretty easy to fix, put the lockbox back on SS, but the rub is, the politicians have to put back the money they stole out of it. Say like all the funds that go to pork barrel projects in some politicians state for votes. Then you have to account for the change in life expectancy that has increased since inception, which was done to a slight extent by increasing the full retirement age.

Personally I am with you, stop taxing me and let me invest the money the way I want, but the federal government will never go for that because every Roth would be fully funded and so would most conventional IRA's and the loss in revenue would be huge and is only getter larger.

[Suppressed Poet]

I agree that now it is a ponzi scheme, it was not when it was started. Its pretty easy to fix, put the lockbox back on SS, but the rub is, the politicians have to put back the money they stole out of it. Say like all the funds that go to pork barrel projects in some politicians state for votes. Then you have to account for the change in life expectancy that has increased since inception, which was done to a slight extent by increasing the full retirement age.

Personally I am with you, stop taxing me and let me invest the money the way I want, but the federal government will never go for that because every Roth would be fully funded and so would most conventional IRA's and the loss in revenue would be huge and is only getter larger.

It was always a Ponzi scheme since it was signed into law in 1935, but it only became a real economic problem with the baby boomer generation. What we all pay in social security tax pays for current beneficiaries of social security. Now we are faced with people living a lot longer than they did in 1935 + we are on a population decline. Simply put, there are not enough workers to pay the benefits of all the retired old people. The interest payments alone that the federal government is paying in loans to subsidize social security is putting us on track to bankrupt our country.

[ClydeR]

I agree that now it is a ponzi scheme, it was not when it was started. Its pretty easy to fix, put the lockbox back on SS, but the rub is, the politicians have to put back the money they stole out of it. Say like all the funds that go to pork barrel projects in some politicians state for votes. Then you have to account for the change in life expectancy that has increased since inception, which was done to a slight extent by increasing the full retirement age.

All of the trust fund is invested in US Treasury Bonds, widely believed to be the safest investment in the world, unless something happens to change that perception. Investing it in Treasury Bonds means that the government spends it, like all other money invested in Treasury Bonds, with a promise to repay it in the future.

If Treasury Bonds are not a good place for the money, then you have to decide what would be better. Stock market? Do you really want the government to be the largest shareholder of every corporation in America? You know they would be activist shareholders.

[ClydeR]

It was always a Ponzi scheme since it was signed into law in 1935, but it only became a real economic problem with the baby boomer generation. What we all pay in social security tax pays for current beneficiaries of social security. Now we are faced with people living a lot longer than they did in 1935 + we are on a population decline. Simply put, there are not enough workers to pay the benefits of all the retired old people.

I agree that the current model is unsustainable.

The interest payments alone that the federal government is paying in loans to subsidize social security is putting us on track to bankrupt our country.

The government is not subsidizing Social Security.

[Methais]

See what happens when you engage Seran and ClydeR?

ClydeRetard is just a super try hard attention whore. He's still stupid as fuck, but Seran is the real deal when it comes to ultra stupidity.

[Suppressed Poet]

I agree that the current model is unsustainable.




The government is not subsidizing Social Security.

Yes and no. I misspoke. Our government has borrowed from the social security fund when it was a surplus to the tune of roughly $3 trillion and pays internet on that loan.

Point being…it’s unsustainable in its current form. Cutting benefits or raising the minimum age or whatever clever way they come up with to fix the problem, we people under the age of 50 are fucked. Opt me out.

[Suppressed Poet]

If Treasury Bonds are not a good place for the money, then you have to decide what would be better. Stock market? Do you really want the government to be the largest shareholder of every corporation in America? You know they would be activist shareholders.

If all the money that I paid into social security tax went into a hedge fund account in my name, I could retire much earlier as a wealthy man. Here is an idea…let people decide how to invest their own money instead of stealing it from them.

[Seran]

I agree that now it is a ponzi scheme, it was not when it was started. Its pretty easy to fix, put the lockbox back on SS, but the rub is, the politicians have to put back the money they stole out of it. Say like all the funds that go to pork barrel projects in some politicians state for votes. Then you have to account for the change in life expectancy that has increased since inception, which was done to a slight extent by increasing the full retirement age.

Personally I am with you, stop taxing me and let me invest the money the way I want, but the federal government will never go for that because every Roth would be fully funded and so would most conventional IRA's and the loss in revenue would be huge and is only getter larger.

Money hasn't been stolen from the social security trust, its simply been underfunded as a result of poor administration by actuarials and ignorance of Congress on implementing recommendations to fund it's long term obligations. More funding, a higher retirement age, keeping the benefits cap while removing the taxable limit on what is taxed due to the concentration of wealth amongst the ruling few. All recommendations that a certain Right leaning party have fought against, all the while running that they'd do the changes.

[Methais]

Money hasn't been stolen from the social security trust, its simply been underfunded as a result of poor administration by actuarials and ignorance of Congress on implementing recommendations to fund it's long term obligations. More funding, a higher retirement age, keeping the benefits cap while removing the taxable limit on what is taxed due to the concentration of wealth amongst the ruling few. All recommendations that a certain Right leaning party have fought against, all the while running that they'd do the changes.

I wish I was your dope dealer in high school, I wouldn't even need weed. You'd just buy oregano all day and then tell everyone you baked you were.

[Neveragain]

a higher retirement age

Just extend retirement age to a point where they are dead. Problem solved.