We're Doomed, He Hasn't a Clue

[paulo537]

Originally Posted by joeydb

Who can have a problem with people getting THEIR money. If they put in $100k, they should get $100k. Not $150k. Their money, but no one else's.

And don't tax it. It was a tax to begin with.

Pay in ~45 years, get no gain at all? Can I get a little interest?

[joeydb]

Originally Posted by paulo537

Pay in ~45 years, get no gain at all? Can I get a little interest?

Right now you stand to not get back the principal, especially after taxes. This is why Social Security is a loser.

If you wanted interest, you'd invest that money yourself in something stable. Or loan it out for interest like a bank, with collateral having intrinsic value to protect your investment.

This is why Social Security should become a -gasp- "public option". You should be able to opt out. They won't let you since they need you to prop up the Ponzi Scheme. There are too many retirees and too few workers, there never was any trust fund, and they pay many people to administer it. And they tax your "benefit" - which is the payment you get, originally taken through taxes. It's taxed TWICE.

[Riot]

Originally Posted by joeydb

Right now you stand to not get back the principal, especially after taxes. This is why Social Security is a loser.

Completely, 100% false.