Social security to run out of money in 21 years.

[anotherlife]

a government writes new laws to empty private accounts too, such as by means testing or by some new tax categories.

sure a Nazi govt can do anything it wants, but moving to private accounts indicates a consensus in the opposite direction. This is a good thing and represents progress.

IN this case, all current European government's fall in the Nazi category then. And the democrat pressure groups want America that way too.

 

[anotherlife]

Just think if people were allowed to save what amounts to basically 15% of their lifetime income in accounts they, not the fucking government,owned they could actually retire with some security and the fucking government wouldn't be 20 trillion in debt

But you people still think the fucking government can handle your money better than you can

The government will never allow people to think that they are smart enough to handle their own money. If they did, then those people who control the government would lose.

Exactly

SS is forced government dependence because we can't have people be financially independent can we

yep Democrats would be extinct if not for dependent people voting for more money in their pockets. They have subverted our democracy since democracy is voting for the common weal not for money in your pocket?

And the above uncovers the essence of democracy and the core philosophy of democrats. The more people you make poor and dependent on you, the more they will vote for you when you promise them a penny next election.

At least in dictatorial third world countries, they buy people's votes with direct cash payments instead of making them poor.

 

[anotherlife]

Man, there are 7.3 billion ppl living in the world w/o social security. Do they all retire millionaires?

to retire a millionaire you would need to work in an economy as efficient as the American economy for 45 years. Do you understand?

Well? Lets talk about another country.

Pick one that is better off that is more capitalistic.

Well, there is France for example, which is more efficient than the USA, earning about the same, but with ~ 60 days per year paid vacations and generous state retirement. They even have a paid year off national law. But that is not the point, the point is, that you can't own any assets in France in real terms. In the USA you can. France is socialist. The USA not yet.

 

[Disir]

So let's create a nationwide insurance plan....
The administration last year said it would run dry in 2036...today they said more like 2033...next year they will say?

Did I mention we will soon be $20 Trillion in debt?

The trustees said the Social Security fund for retirees will become insolvent in 2033. But it said the Medicare funds will run out in 2024, the same forecast as last year.

The trustees said a key factor in revising the Social Security estimate was the view that Americans' average real earnings were likely to grow more slowly than previously thought, thus crimping revenues from taxes that finance the fund.

Read more: Social Security Fund to Run Dry Sooner Than Expected | Fox Business

That is the nationwide insurance plan. The plan is to move this to individual accounts and both the Ds and Rs want that. Yet, not one damn person has been able to provide detailed information on how much those fees will be-because I promise there will be fees. That's what it's really about, making sure that others get their cut.

 

[iamwhatiseem]

So let's create a nationwide insurance plan....
The administration last year said it would run dry in 2036...today they said more like 2033...next year they will say?

Did I mention we will soon be $20 Trillion in debt?

The trustees said the Social Security fund for retirees will become insolvent in 2033. But it said the Medicare funds will run out in 2024, the same forecast as last year.

The trustees said a key factor in revising the Social Security estimate was the view that Americans' average real earnings were likely to grow more slowly than previously thought, thus crimping revenues from taxes that finance the fund.

Read more: Social Security Fund to Run Dry Sooner Than Expected | Fox Business

That is the nationwide insurance plan. The plan is to move this to individual accounts and both the Ds and Rs want that. Yet, not one damn person has been able to provide detailed information on how much those fees will be-because I promise there will be fees. That's what it's really about, making sure that others get their cut.

That is for sure.
Keeping in mind that the sweeping changes in the matrix of our economy that has occurred ove the past 40 years all happened for one main purpose: Enrich an extraordinary small number of people at the expense of 10's millions.

 

[Westender]

Just think if people were allowed to save what amounts to basically 15% of their lifetime income in accounts they, not the fucking government,owned they could actually retire with some security and the fucking government wouldn't be 20 trillion in debt

But you people still think the fucking government can handle your money better than you can

I'm 58. If I had all of the money I paid in SS plus employer match put in a S &P 500 index fund since I started working at the grocery store at age 13 I would have multiple millions coming to me in the next few years

 

[Skull Pilot]

Just think if people were allowed to save what amounts to basically 15% of their lifetime income in accounts they, not the fucking government,owned they could actually retire with some security and the fucking government wouldn't be 20 trillion in debt

But you people still think the fucking government can handle your money better than you can

I'm 58. If I had all of the money I paid in SS plus employer match put in a S &P 500 index fund since I started working at the grocery store at age 13 I would have multiple millions coming to me in the next few years

Exactly right.

Even with all the ups and downs of the stock market people would be far better off if they controlled their SS contributions

 

[Disir]

So let's create a nationwide insurance plan....
The administration last year said it would run dry in 2036...today they said more like 2033...next year they will say?

Did I mention we will soon be $20 Trillion in debt?

The trustees said the Social Security fund for retirees will become insolvent in 2033. But it said the Medicare funds will run out in 2024, the same forecast as last year.

The trustees said a key factor in revising the Social Security estimate was the view that Americans' average real earnings were likely to grow more slowly than previously thought, thus crimping revenues from taxes that finance the fund.

Read more: Social Security Fund to Run Dry Sooner Than Expected | Fox Business

That is the nationwide insurance plan. The plan is to move this to individual accounts and both the Ds and Rs want that. Yet, not one damn person has been able to provide detailed information on how much those fees will be-because I promise there will be fees. That's what it's really about, making sure that others get their cut.

That is for sure.
Keeping in mind that the sweeping changes in the matrix of our economy that has occurred ove the past 40 years all happened for one main purpose: Enrich an extraordinary small number of people at the expense of 10's millions.

Agreed.

I remember the move from pensions to IRAs and that was phenomenally stupid move. They lost everything to the same small group of people that cannot wait to get their little mitts on this.

 

[EdwardBaiamonte]

Just think if people were allowed to save what amounts to basically 15% of their lifetime income in accounts they, not the fucking government,owned they could actually retire with some security and the fucking government wouldn't be 20 trillion in debt

But you people still think the fucking government can handle your money better than you can

I'm 58. If I had all of the money I paid in SS plus employer match put in a S &P 500 index fund since I started working at the grocery store at age 13 I would have multiple millions coming to me in the next few years

Yes SS is a huge ripoff of 15% of everyone's life time earnings and if you die too soon your family won't see a penny of your lifetime savingsit!!