Proof SS is Ponzi Scheme from the USA balance sheet!

[Listening]

Me, too. I'm one of those who would have the ability to invest well and make a larger income from what now goes as self-employment tax, than I will eventually receive from Social Security. But most people don't have my intelligence and would be more likely to lose their investments and less likely to gain from them. I'm fine with lowering my own retirement income slightly so that I don't have to have old people croaking in the streets on my conscience.

This statement is beyond me.

Most people don't have my intelligence......???

That is arrogant beyond belief. Who in the hell do you think you are ?

Many people I know who are wealthy or well off are less "intelligent" but more focused than others.

Unbelievable.

You still have old people croaking, that is what they do. Whether they do it in the streets or in cold little rooms all alone...that does not seem very different to me.

Welfare, like so-called Social Security is more than money.

 

[Listening]

Listening, stay in reality, please. Your conclusions are unsupportable.

When you can refute them, I'll listen.

Until then, stay up or consider staying out.

 

[JakeStarkey]

Dragon has used Listening, harshly. Job well done.

 

[Listening]

Dragon has used Listening, harshly. Job well done.

And JakeStarkey is hiding under Dragon's skirt.

When you can stand out in the open on your own, I'll have some respect for you.

Jackass.

 

[JakeStarkey]

Used just harshly.

 

[Listening]

Used just harshly.

I'd ask what the view is like there under his skirt.

When you are ready to come out and be a man, I might consider that you are one.

For now, you are a coward.

 

[Listening]

Crickets all the way around.

Gotta go.

You are a real stand up guy Jake.

 

[Listening]

Used just harshly.

Hey Jake,

Where are you ?

Maggot.

 

[Listening]

A bump for Franklin Delanore Ponzi.

Not that I think it is a true Ponzi scheme. It just sounds like one.

 

[JakeStarkey]

Pon·zi scheme noun \ˈpän-zē-\
Definition of PONZI SCHEME
: an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks
Ponzi scheme - Definition and More from the Free Merriam-Webster Dictionary

OP fail.

 

[Listening]

Pon·zi scheme noun \ˈpän-zē-\
Definition of PONZI SCHEME
: an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks
Ponzi scheme - Definition and More from the Free Merriam-Webster Dictionary

OP fail.

Technically that may be correct.

However, there are a lot ways they look the same.

And for SS not to look like a Ponzi Scheme....sooner or later someone has to make up the difference on the back end. Your kids will appreciate what we have done to them in about 10 years when they will a) pay more to support the system b) cut benefits to the point where cat food will be a luxury (assuming you don't have any cats to share it with).

 

[JakeStarkey]

Pon·zi scheme noun \ˈpän-zē-\
Definition of PONZI SCHEME
: an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks
Ponzi scheme - Definition and More from the Free Merriam-Webster Dictionary

OP fail.

Technically that may be correct. However, there are a lot ways they look the same. And for SS not to look like a Ponzi Scheme....sooner or later someone has to make up the difference on the back end. Your kids will appreciate what we have done to them in about 10 years when they will a) pay more to support the system b) cut benefits to the point where cat food will be a luxury (assuming you don't have any cats to share it with).

It is correct, and your concerns can be easily assuaged with some very simple tweaks to the system.

 

[Listening]

Pon·zi scheme noun \ˈpän-zē-\
Definition of PONZI SCHEME
: an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks
Ponzi scheme - Definition and More from the Free Merriam-Webster Dictionary

OP fail.

Technically that may be correct. However, there are a lot ways they look the same. And for SS not to look like a Ponzi Scheme....sooner or later someone has to make up the difference on the back end. Your kids will appreciate what we have done to them in about 10 years when they will a) pay more to support the system b) cut benefits to the point where cat food will be a luxury (assuming you don't have any cats to share it with).

It is correct, and your concerns can be easily assuaged with some very simple tweaks to the system.

It all depends on what your goals are.

Mine would be to be off the system and using that money to save for my own retirement.

Don't need the government running my retirement the way they run (ruin) just about everything else.

 

[Old Rocks]

There are plenty of problems with social security that we now accept as common life.

First, it is not consistent with the constitution. I don't give a flying fig about what the corrupt FDR SCOTUS says.

Well, you're entitled I suppose to your opinions, including interpreting the first clause of Article I, Section 8 in a manner that goes against its plain, straightforward, obvious language. But that doesn't make what you say here anything but your own unsupported and idiosyncratic opinion.

It's clear enough, though, that Congress is authorized to lay and collect taxes to provide for the general welfare of the United States, and by implication to spend the revenues so collected, and that's all Social Security involves the government doing.

It is nowhere near clear except to those who need it to be clear to suppor their own fantasies. SS didn't always exist and the arguments against the "General Welfare" clause have been repeated ad nauseum.

What does matter is that the GOP let this go on for to long and it is going to take an effort to change it around.

Your claim of straightforward language is bunk.

SS surely did not always exist. Neither did anti-biotics. Nor the CDC. Your arguement is silly in the extreme. A great many people who did not play the market, who thought they had safe investments in their farms and ranches lost everything in the Great Depression. I know of this, both sets of my grandparents had their livehood destroyed in this way.

SS is one of the greatest programs that our nation has. And there is absolutely nothing to prevent anyone from investing outside of it. What it does is gaurantees those in the workforce that, no matter what, there will be enough to live on and not starve at the end of one's career.

 

[NYcarbineer]

Current retirees are not being paid off by current workers/payroll tax payers.

It just looks that way. Before you would have to pay retirees out of current payroll taxes you would have to draw down the Trust Fund to zero.

 

[Listening]

Well, you're entitled I suppose to your opinions, including interpreting the first clause of Article I, Section 8 in a manner that goes against its plain, straightforward, obvious language. But that doesn't make what you say here anything but your own unsupported and idiosyncratic opinion.

It's clear enough, though, that Congress is authorized to lay and collect taxes to provide for the general welfare of the United States, and by implication to spend the revenues so collected, and that's all Social Security involves the government doing.

It is nowhere near clear except to those who need it to be clear to suppor their own fantasies. SS didn't always exist and the arguments against the "General Welfare" clause have been repeated ad nauseum.

What does matter is that the GOP let this go on for to long and it is going to take an effort to change it around.

Your claim of straightforward language is bunk.

SS surely did not always exist. Neither did anti-biotics. Nor the CDC. Your arguement is silly in the extreme. A great many people who did not play the market, who thought they had safe investments in their farms and ranches lost everything in the Great Depression. I know of this, both sets of my grandparents had their livehood destroyed in this way.

SS is one of the greatest programs that our nation has. And there is absolutely nothing to prevent anyone from investing outside of it. What it does is gaurantees those in the workforce that, no matter what, there will be enough to live on and not starve at the end of one's career.

You didn't even get the context of the point I was making.

Please try to keep up.

I have some history as to what necessitated SS and I agree it was an important step at the time. Regardless, it is not constitutional in the strictest sense. I realize that people like you will sacrafice our founding document in the name of a paycheck...but some of us are not so quick to sell out.

SS is one of the biggest scams we have experienced as a nation. It surely does entice people to not save for their futures despite the governments own encouragement that people should be saving out side of the program.

Just take a look at the average savings of people:

» Average Retirement Savings by Age

So where do we find the average retirement savings by age? We are forced to rely on the internet. Unfortunately, with the recent stock market crash, writing about nest eggs and average retirement savings hasn’t been very popular. To get data, we turn to the Employee Benefit Research Institute’s latest report on Individual Account Retirement Plans (August 2009).

The EBRI’s report has a ton of detailed information on almost everything you might want to know about retirement savings and participation, from defined contribution plans to IRAs. For the purposes of our comparisons, I’ll just look at the age breakdown (2007 figures adjusted to 2009):

&#9632;< 35: $6,306
&#9632;35 – 44: $22,460
&#9632;45 – 54: $43,797
&#9632;55 – 64: $69,127
&#9632;65 – 75: $56,212
&#9632;75+: (sample size insufficient)

It is pathetic.

BTW: You may not starve on SS, but you'll come darn close.