flacaltenn
Diamond Member
Not the point. I was saying that the Social Security "Trust Fund" should be moved into S&P 500
Yes old people's retirement should be put in a casino trust fund.
The average yearly return on the stock market over the past 90 years is 10%.
The average yearly return on Social Security is 1.23%
I highly doubt that number. Because as the caps have been raised -- an INCREASING number of folk have been relegated to extremely negative returns on Soc Sec. And the "interest" feature is all garbage. There is no interest on Soc Sec trust funds because there is nothing of VALUE in the Trust Fund. It was stolen and replaced with IOUs that require the Treasury covers any shortfalls with NEW money or NEW debt issues.
The phony accounting only includes interest on the stolen money to the extent of how much MORE shortfall the the Treasury is liable for ABOVE the amounts stolen by squandering the excess FICA tax. It doesn't affect the calculation of benefits.
SocSec is deadass broke TODAY. Has been since about 2010. Went from $50Bill surpluses to $50Bill deficits about 8 years ahead of schedule. That's a $100Bill swing in the ON BUDGET portion that the Treasury has to cover since about 2000..