We're Doomed, He Hasn't a Clue

[dellinger63]

Originally Posted by MaTH716

I'm not talking about ridiculous spending, I'm talking about the day to day cost of living. There are many people just struggling to survive now. How are they supposed to save for their retirements?

Many can't right now and I realize that. There will be a even larger reliance on SS in the future and that's why I think before we send another check to the mideast or engage in some stupid program like paying for cars to be destroyed the SS fund should be at least partially funded with real assets rather than credits. In other words collected SS taxes should not be used for anything other than SS payments! It's one way we can control the wasteful spending, while reducing the debt, while insuring seniors now and in the future have access to their money that they've put in. It's one of those very rare win-win-win situations.

[jms62]

Originally Posted by dellinger63

Many can't right now and I realize that. There will be a even larger reliance on SS in the future and that's why I think before we send another check to the mideast or engage in some stupid program like paying for cars to be destroyed the SS fund should be at least partially funded with real assets rather than credits. In other words collected SS taxes should not be used for anything other than SS payments! It's one way we can control the wasteful spending, while reducing the debt, while insuring seniors now and in the future have access to their money that they've put in. It's one of those very rare win-win-win situations.

Got to admit you nailed this one.

[joeydb]

Originally Posted by dellinger63

Many can't right now and I realize that. There will be a even larger reliance on SS in the future and that's why I think before we send another check to the mideast or engage in some stupid program like paying for cars to be destroyed the SS fund should be at least partially funded with real assets rather than credits. In other words collected SS taxes should not be used for anything other than SS payments! It's one way we can control the wasteful spending, while reducing the debt, while insuring seniors now and in the future have access to their money that they've put in. It's one of those very rare win-win-win situations.

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.

[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.

[Riot]

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.

That's not what the program is. Geeshus cripes, it's not a savings account. It's not a retirement account. It's not a ****ing tax.

It's an old-age pension, a safety net, that we the society gives our seniors, because we got tired of seeing them die of poverty in the streets.

And there is no major or immediate - or even intermediate - problem with Social Security meeting all it's obligations. This is all false alarm and nonsensical straw men.

Geehus - worry about something that matters, that is a real problem, like Medicaid or Medicare. Good lord.

[Danzig]

Originally Posted by Riot

That's not what the program is. Geeshus cripes, it's not a savings account. It's not a retirement account. It's not a ****ing tax.

It's an old-age pension, a safety net, that we the society gives our seniors, because we got tired of seeing them die of poverty in the streets.

And there is no major or immediate - or even intermediate - problem with Social Security meeting all it's obligations. This is all false alarm and nonsensical straw men.

Geehus - worry about something that matters, that is a real problem, like Medicaid or Medicare. Good lord.

medicare is a part of ss, it's part of the ss act that amended the social security program. 1965.
just reminding you of that, so that in future when i mention that ss needs help, it's the entire program, not just the retirement portion.