Social Security In 2033

[CrusaderFrank]

You think someone bought that with Social Security checks?

How many time have you dropped acid...I mean so far today?

My mother had clients (she was a travel agent) who joked how they used SS to pay for their green fees.

Even then, I knew something was wrong. But as Sheibler pointed out.....it was a great way to keep getting elected. His description of Johnson's increasing the benefits just to get the trust down will make you vomit. The Real Deal - Schieber, Sylvester J.; Shoven, John B. - Yale University Press (and lest you worry...he's not advocating getting rid of it...it is a pretty good history).

Pols....can only be trusted to screw things up.

And we want to put them in charge of our health care ?

Progressives do, I don't

 

[Uncensored2008]

So? Is the US government going to default on its debt obligations any time soon?

Yes.

Don't you pay attention?

 

[Uncensored2008]

Mr. Shaman finally starts to show the cracks in the armor.

I have always been for means testing. I have also been for not adding so many leaches on the system. BTW: Shaman, it would be great if the numbers were made available so we could see what Bivens calculates. Just saying it would be O.K. does not make it so.

Also, I have read that means testing isn't going to do much for the system. If you have something otherwise, please share.

And finally, how is means testing "fair". Not that I believe in "fair". It's a bullcrap notion. But all of a sudden the left now wants to rob the rich of money they put into the system ? How pragmatism suddenly becomes so right when the food isn't on the table any more.

Means testing for Social Security is bullshit and a breach of contract.

SS isn't an entitlement, it is a government run retirement system. Those in the program are in the program.

Class warfare may be the Obama motto, but SS has nothing to do with income.

 

[SniperFire]

Mr. Shaman finally starts to show the cracks in the armor.

I have always been for means testing. I have also been for not adding so many leaches on the system. BTW: Shaman, it would be great if the numbers were made available so we could see what Bivens calculates. Just saying it would be O.K. does not make it so.

Also, I have read that means testing isn't going to do much for the system. If you have something otherwise, please share.

And finally, how is means testing "fair". Not that I believe in "fair". It's a bullcrap notion. But all of a sudden the left now wants to rob the rich of money they put into the system ? How pragmatism suddenly becomes so right when the food isn't on the table any more.

Means testing for Social Security is bullshit and a breach of contract.

SS isn't an entitlement, it is a government run retirement system. Those in the program are in the program.

Class warfare may be the Obama motto, but SS has nothing to do with income.

We have come a long way from the original idea of a self-funded retirement insurance policy to the means-tested pure socialism it will become in just a few more years.

 

[Wiseacre]

Mr. Shaman finally starts to show the cracks in the armor.

I have always been for means testing. I have also been for not adding so many leaches on the system. BTW: Shaman, it would be great if the numbers were made available so we could see what Bivens calculates. Just saying it would be O.K. does not make it so.

Also, I have read that means testing isn't going to do much for the system. If you have something otherwise, please share.

And finally, how is means testing "fair". Not that I believe in "fair". It's a bullcrap notion. But all of a sudden the left now wants to rob the rich of money they put into the system ? How pragmatism suddenly becomes so right when the food isn't on the table any more.

Means testing for Social Security is bullshit and a breach of contract.

SS isn't an entitlement, it is a government run retirement system. Those in the program are in the program.

Class warfare may be the Obama motto, but SS has nothing to do with income.

SS has a ceiling of benefits right? Nobody gets more than X dollars no matter how much they paid in, true? That works for me, I don't know that means testing can be implemented fairly or inexpensively anyway. I think raising the retirement age and upping the income ceiling that you pay SS taxes on oughta do the trick. We gotta stop this nonsense of lowering the rate though, who's gonna have the balls to not extend that?

 

[Listening]

Means testing isn't just part of it.

We need to start migrating people to a non-paygo which means they will carry double duty. But the other part will be theirs (and no not privatised like some think....more like a bank account).

But means testing must start to take place. I hate that that is the case...but it is necessary.

As I said...funny how libs think fair is only fair up until the point they don't have food on the table.

 

[Uncensored2008]

SS has a ceiling of benefits right?

And a ceiling for payments.

Nobody gets more than X dollars no matter how much they paid in, true?

Yes, that's true. The top level plan is still fairly low.

That works for me, I don't know that means testing can be implemented fairly or inexpensively anyway.

I agree.

I think raising the retirement age and upping the income ceiling that you pay SS taxes on oughta do the trick.

Also limiting SS to retirement. The expansion to disability has savaged the fund.

We gotta stop this nonsense of lowering the rate though, who's gonna have the balls to not extend that?

I support a gradual privatization, phased over 20 years.

 

[Listening]

I asked the question on another thread.

is retirment a right ?

What do people mean by privatization ?

 

[Uncensored2008]

I asked the question on another thread.

is retirment a right ?

What do people mean by privatization ?

Initially, the right of people to direct their funds to investments as they see fit. Eventually, the exit of the government from the process completely.

 

[M14 Shooter]

There is no Social Security pile of money.

Only gubmint issued IOU.

So? Is the US government going to default on its debt obligations any time soon?

In 10 years the interest we have to pay on our debt will be approaching a trillion dollars a year. You okay with that?

Liberals are OK w/ any kind of federal spending that the doesnt have "defense" in front of it.

 

[M14 Shooter]

You think someone bought that with Social Security checks?

How many time have you dropped acid...I mean so far today?

My mother had clients (she was a travel agent) who joked how they used SS to pay for their green fees.

That's pretty much what my dyed-in-the-wool Democrat father does - his SS check goes to whatever whim he has that month. I -do- pity the fool that tries to tell him he doesnt need it and shouldn't be allowed to collect it.

 

[Zander]

Means testing isn't just part of it.

We need to start migrating people to a non-paygo which means they will carry double duty. But the other part will be theirs (and no not privatised like some think....more like a bank account).

But means testing must start to take place. I hate that that is the case...but it is necessary.

As I said...funny how libs think fair is only fair up until the point they don't have food on the table.

We need to change the program, but "means testing" is not viable. That changes the program from an insurance plan to an entitlement. I totally oppose it.

 

[Greenbeard]

What do people mean by privatization ?

Initially, the right of people to direct their funds to investments as they see fit. Eventually, the exit of the government from the process completely.

In other words, "privatization" is a nice euphemism for "end it and replace it with nothing."

 

[Toro]

I figured there would be at least four or five threads on this already.

Did I miss something ?

Social Security and Medicare Could Run Out Sooner Than Expected - ABC News

Social Security’s retirement and disability programs have enough funds to cover the next 20 years, but that could change come 2033.

Every year the Social Security Board of Trustees releases its report outlining the stability and financial security of the two biggest federal programs in the United States, Social Security and Medicare.

This year’s report says that because of an increase in pressure on these programs — Americans are living longer and the baby boomers are beginning to collect — funds could run out sooner than expected. In addition, the slow-rebound of the economy and high energy prices are leading to a quicker deterioration of the trusts that fund Social Security.

*****************************

So there is always reading between the lines.

I'll wait to hear what was left out of the report before making any further comments.

It's not news. This has been known for years.

 

[Toro]

What do people mean by privatization ?

Initially, the right of people to direct their funds to investments as they see fit. Eventually, the exit of the government from the process completely.

In other words, "privatization" is a nice euphemism for "end it and replace it with nothing."

SS should be run like a real pension fund and individuals should be allowed to invest their account if they wish. I know of no other pension plan in America that invests exclusively in government bonds. I know of no insurance company that invests exclusively in government bonds. I know of no reason why SS should be invested solely in government bonds.

 

[Old Rocks]

Just make the 4.2% that I pay now apply to all income. Problem solved, SS solvent forever, and hardworking men and women can retire at 65.

 

[Uncensored2008]

In other words, "privatization" is a nice euphemism for "end it and replace it with nothing."

Right.

An IRA or 401K with the same funds will provide a dozen times better return and serve the worker better.

 

[NYcarbineer]

There is no Social Security pile of money.

Only gubmint issued IOU.

So? Is the US government going to default on its debt obligations any time soon?

In 10 years the interest we have to pay on our debt will be approaching a trillion dollars a year. You okay with that?

Since I have stated approximately a thousand times that I believe people should have to pay for the government they get,

when they get it,

you're asking the wrong person.

As for the SS trust fund, that is the federal government's obligation to pay; SS is a creditor,

not a debtor.

 

[Listening]

It's not news. This has been known for years.

I think this is "news" in the sense that this is new information.

The date for insolvency has been moving closer with each new report.

I can recall when it was 2075 and then moved down to 2046. It was 2036 and now is 2033.

I'd say that was worthy of the news.

And it is certainly getting a great deal of press.

 

[DaGoose]

I asked the question on another thread.

is retirment a right ?

What do people mean by privatization ?

Initially, the right of people to direct their funds to investments as they see fit. Eventually, the exit of the government from the process completely.

In other words, "privatization" is a nice euphemism for "end it and replace it with nothing."

Right.

An IRA or 401K with the same funds will provide a dozen times better return and serve the worker better.

And yet nothing is stopping anyone from starting an IRA right now, is there?