5 myths about SS

[Truthmatters]

5 myths about Social Security - 1 - retirement savings - MSN Money

 

[Valerie]

If you want to know the truth about Social Security, don't ask a politician or a pundit.

There's just too much misinformation floating around about the retirement system, and it's coming from both sides of the political spectrum. Some on the left claim that everything is just dandy and no major changes need to be made, which is hogwash. Some on the right claim the system is irreparable, which is hooey as well.

Stranded in between are the confused millions who contribute to and benefit from the system. They just want to know if Social Security will be there for them when they need it.

The answer is yes, if the politicians can ever get their acts together.

 

[RetiredGySgt]

5 myths about Social Security - 1 - retirement savings - MSN Money

And if nothing is done before 2037 the Government still has to find the money from somewhere to pay back the IOU's and as your link states that will cause problems long before 2037.

If nothing is done BEFORE 2037, in 2037, assuming ( big assumption) that the current rate of people paying in stays the same and the number drawing benefits does not increase more then projected, only 75 percent of the money needed to pay for benefits will be available.

The program is in jeopardy and no one seems to want to do anything about it. And no we can't just keep changing when people are eligible to draw their money.

Since you are a lefty, perhaps you could tell us what the left plans to do about Social Security? The right has presented several plans over the years and all have been ignored.

 

[DaGoose]

5 myths about Social Security - 1 - retirement savings - MSN Money

And if nothing is done before 2037 the Government still has to find the money from somewhere to pay back the IOU's and as your link states that will cause problems long before 2037.

If nothing is done BEFORE 2037, in 2037, assuming ( big assumption) that the current rate of people paying in stays the same and the number drawing benefits does not increase more then projected, only 75 percent of the money needed to pay for benefits will be available.

The program is in jeopardy and no one seems to want to do anything about it. And no we can't just keep changing when people are eligible to draw their money.

Since you are a lefty, perhaps you could tell us what the left plans to do about Social Security? The right has presented several plans over the years and all have been ignored.

What has the right presented besides "partial privitization"? That would have only reduced the money being paid into it even more (worsening the situation) and face it, we all know how the stock market has been doing. Diverting SS money into investments would have proved disasterous.

 

[DaGoose]

This is the 4th post since the thread was started 45 minutes ago. Why is it still labelled "Old"?

 

[syrenn]

This is the 4th post since the thread was started 45 minutes ago. Why is it still labelled "Old"?

Its a liesmatters thread....

her hack shit gets old fast.

 

[CrusaderFrank]

Here's how they think they're going to avoid the gallows when the system collaspes:

"Over the years, the surplus has been lent to the federal government to pay for other programs. In return, the trust fund received IOUs in the form of special-issue, interest-paying Treasury bonds. These bonds are backed by the full faith and credit of the U.S. government, just as regular Treasurys are."

Note "Special issue" bonds, these are bonds that can't be sold to anyone other than the US government (ie: Wampum)

 

[The Infidel]

This is the 4th post since the thread was started 45 minutes ago. Why is it still labelled "Old"?

Its a liesmatters thread....

her hack shit gets old fast.

 

[The Infidel]

What has the right presented besides "partial privitization"? That would have only reduced the money being paid into it even more (worsening the situation) and face it, we all know how the stock market has been doing. Diverting SS money into investments would have proved disasterous.

So assuming you have a 401K, are you going to be OK when the powers that be decide to roll them into your SSI "account" ?

 

[The Infidel]

What has the right presented besides "partial privitization"? That would have only reduced the money being paid into it even more (worsening the situation) and face it, we all know how the stock market has been doing. Diverting SS money into investments would have proved disasterous.

So assuming you have a 401K, are you going to be OK when the powers that be decide to roll them into your SSI "account" ?

[ame=http://www.youtube.com/watch?v=K8E_zMLCRNg]Cricket Sound - YouTube[/ame]

 

[RetiredGySgt]

5 myths about Social Security - 1 - retirement savings - MSN Money

And if nothing is done before 2037 the Government still has to find the money from somewhere to pay back the IOU's and as your link states that will cause problems long before 2037.

If nothing is done BEFORE 2037, in 2037, assuming ( big assumption) that the current rate of people paying in stays the same and the number drawing benefits does not increase more then projected, only 75 percent of the money needed to pay for benefits will be available.

The program is in jeopardy and no one seems to want to do anything about it. And no we can't just keep changing when people are eligible to draw their money.

Since you are a lefty, perhaps you could tell us what the left plans to do about Social Security? The right has presented several plans over the years and all have been ignored.

What has the right presented besides "partial privitization"? That would have only reduced the money being paid into it even more (worsening the situation) and face it, we all know how the stock market has been doing. Diverting SS money into investments would have proved disasterous.

Chris keeps posting links to claims that the Stock market is better then ever and has been for years. Are you calling him a liar?

And I notice you didn't answer my question, WHAT has the left proposed?

 

[Old Rocks]

5 myths about Social Security - 1 - retirement savings - MSN Money

And if nothing is done before 2037 the Government still has to find the money from somewhere to pay back the IOU's and as your link states that will cause problems long before 2037.

If nothing is done BEFORE 2037, in 2037, assuming ( big assumption) that the current rate of people paying in stays the same and the number drawing benefits does not increase more then projected, only 75 percent of the money needed to pay for benefits will be available.

The program is in jeopardy and no one seems to want to do anything about it. And no we can't just keep changing when people are eligible to draw their money.

Since you are a lefty, perhaps you could tell us what the left plans to do about Social Security? The right has presented several plans over the years and all have been ignored.

The right has presented several ideas that would allow Wall Street to steal SS.

Simple plan to make SS continue to work as planned. Extend the cutoff to $250,000. Or, better yet, make the 6.2% that we used to pay apply to all income, whatever the source. That would bail out SS, possibly take care of MediCare and MediAid, also.

 

[DaGoose]

What has the right presented besides "partial privitization"? That would have only reduced the money being paid into it even more (worsening the situation) and face it, we all know how the stock market has been doing. Diverting SS money into investments would have proved disasterous.

So assuming you have a 401K, are you going to be OK when the powers that be decide to roll them into your SSI "account" ?

Nope 'cause that ain't gonna happen. The GOP shot it down. But if my 401k provides me with more that $100,000 per year income then I should take a hit on my SS.

But until that happens...........

My SS is my "living expense" money that I've paid into my whole working life.

My 401k money is my "living it up" money that I have paid into over the past 31 years (so far).

 

[DaGoose]

And if nothing is done before 2037 the Government still has to find the money from somewhere to pay back the IOU's and as your link states that will cause problems long before 2037.

If nothing is done BEFORE 2037, in 2037, assuming ( big assumption) that the current rate of people paying in stays the same and the number drawing benefits does not increase more then projected, only 75 percent of the money needed to pay for benefits will be available.

The program is in jeopardy and no one seems to want to do anything about it. And no we can't just keep changing when people are eligible to draw their money.

Since you are a lefty, perhaps you could tell us what the left plans to do about Social Security? The right has presented several plans over the years and all have been ignored.

What has the right presented besides "partial privitization"? That would have only reduced the money being paid into it even more (worsening the situation) and face it, we all know how the stock market has been doing. Diverting SS money into investments would have proved disasterous.

Chris keeps posting links to claims that the Stock market is better then ever and has been for years. Are you calling him a liar?

And I notice you didn't answer my question, WHAT has the left proposed?

The stock market IS finally improving (I can see it in my 401k) but still far behind what it should be now with the piss poor performance during the Bush years.

And HERE is what the "left" proposed.......

Social Security Tax Increase For Rich Proposed By House Liberals, Democrats

And as you can see in my above post I have no problem taking a reduction in my SS if my finances are in that good of shape.

 

[MeBelle]

The stock market IS finally improving (I can see it in my 401k) but still far behind what it should be now with the piss poor performance during the Bush years.

And HERE is what the "left" proposed.......

Social Security Tax Increase For Rich Proposed By House Liberals, Democrats

And as you can see in my above post I have no problem taking a reduction in my SS if my finances are in that good of shape.

Better yet, do not put a cap on SS withholding @ $106k. There is no dam good reason to cap it!
Interesting our elected officials enjoy this cap.
Salaries of members of the United States Congress - Wikipedia, the free encyclopedia.

 

[DaGoose]

The stock market IS finally improving (I can see it in my 401k) but still far behind what it should be now with the piss poor performance during the Bush years.

And HERE is what the "left" proposed.......

Social Security Tax Increase For Rich Proposed By House Liberals, Democrats

And as you can see in my above post I have no problem taking a reduction in my SS if my finances are in that good of shape.

Better yet, do not put a cap on SS withholding @ $106k. There is no dam good reason to cap it!
Interesting our elected officials enjoy this cap.
Salaries of members of the United States Congress - Wikipedia, the free encyclopedia.

I think that was bumped to $110k this year but I agree. Get rid of the cap all together.

 

[Lakhota]

Senate Leadership
Majority Party Leader - $193,400
Minority Party Leader - $193,400

House Leadership
Speaker of the House - $223,500
Majority Leader - $193,400
Minority Leader - $193,400

US Congress Salaries and Benefits – Salaries and Benefits of US Congress Members

 

[editec]

Here's how they think they're going to avoid the gallows when the system collaspes:

"Over the years, the surplus has been lent to the federal government to pay for other programs. In return, the trust fund received IOUs in the form of special-issue, interest-paying Treasury bonds. These bonds are backed by the full faith and credit of the U.S. government, just as regular Treasurys are."

Note "Special issue" bonds, these are bonds that can't be sold to anyone other than the US government (ie: Wampum)

Yup. Cru is right about this one.

That "Special issue" bonds is out the MASTERS gave themselves for when they finally decide to abandon ship.

Every other debt the USA owes is apparently sacred and no amount of austerity will be too much to impose on the people to insure that the richest people on earth are repaid.

But the debts the USA owes to the working people?

THAT debt is perfectly okay to renege on as far as the MASTERS are concerned.

 

[Truthmatters]

Sad huh?

How can any American fight for the rich and spit on everyone else.

Its UnAmerican

 

[MeBelle]

Sad huh?

How can any American fight for the rich and spit on everyone else.

Its UnAmerican

I know, right?
Our millionaire elected officials are spitting all over everyone!