Some want to privative Social Security

[Lesh]

Your absolutely correct

The topic is Privatizing Social Security.

Which would dump SOOOOO much money into the stock market...making anyone already in it...get REALLY rich.

Of course as Chile showed...that's a friggin disaster for retirees

 

[RealDave]

Privatize Social Security

The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 83-year history, it has collected roughly $20.9 trillion and paid out $18.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2017 in its two trust funds.

With assets of $2.9 trillion, who wouldn’t want to be the owner--?

I am sure Trump's minions would like a slice of the pie !!

Actually Trump nor anybody else can get there money on those funds in the trust because it isn’t there. The money has all been borrowed and spent by the federal government. I really thought everybody knew that. Better do some more research sport.

The Republicans have been trying to privatize SS for years.

A law passed under Ronald Reagan said that the federal government had to borrow the SS surplus instead of borrow it from other sources.

 

[DGS49]

(A) There is no "trust fund," never was. It is a tax and an entitlement, just like "welfare." Congress has the Constitutional power to reduce or eliminate benefits, and to increase mandatory contributions to whatever level it deems fit. And their ain't a God-damned thing "we" can do about it.

(B) Most people who live a normal lifespan get much more out of SS than they put in, IF YOU DON"T CONSIDER what earnings on contributions WOULD HAVE BEEN if the money had been invested in, say, an "index" mutual fund.

(C) Like most "progressive" initiatives, Social Security was created to address a relatively small and manageable problem - old people with no pension and no family to support them - and created a massive government boondoggle that was and is destined for bankruptcy, being "saved" only by government's ability to print money.

(D) The only reason "privatization" is off the table is because old white people like me vote in massive numbers, and we will politically crucify any legislator who fucks with it.

 

[BuckToothMoron]

Privatize Social Security

The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 83-year history, it has collected roughly $20.9 trillion and paid out $18.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2017 in its two trust funds.

With assets of $2.9 trillion, who wouldn’t want to be the owner--?

I am sure Trump's minions would like a slice of the pie !!

Actually Trump nor anybody else can get there money on those funds in the trust because it isn’t there. The money has all been borrowed and spent by the federal government. I really thought everybody knew that. Better do some more research sport.

The Republicans have been trying to privatize SS for years.

A law passed under Ronald Reagan said that the federal government had to borrow the SS surplus instead of borrow it from other sources.

Fine, I don’t care who took it, it’s still gone.

 

[BluesLegend]

Privatize Social Security

The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 83-year history, it has collected roughly $20.9 trillion and paid out $18.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2017 in its two trust funds.

With assets of $2.9 trillion, who wouldn’t want to be the owner--?

I am sure Trump's minions would like a slice of the pie !!

Hey dummy congress "borrowed" $2 trillion of OUR social security money and wasted it on stupid crap, and now have no way of paying us back. If a private company did that they would be in prison.

 

[22lcidw]

Your absolutely correct

The topic is Privatizing Social Security.

When social security and medicare was "fixed" in the 1980's. there was a push for at least some privatization then and it was booted down by the political class. House speaker Tip O'Neill and and aging Florida congressman I believe his name was Claude Pepper were major parts of the massive increases in social security taxes and the rise in ages to collect. The argument was what would happen if the investment was in stocks that dropped officially but all of that increased revenue was to good to pass up as it was put into the general fund. So we pay about 15% today in social security/medicare taxes. And there are people who want to change it for the worst. Most are progressives. The medical part particularly is their goal. The social security payouts can be fudged by false inflation numbers for COLA. Also the way payouts are calculated are different today then a few decades ago. I read if the calculations were the same as back then that payout would be 33% more then now.

 

[Lesh]

Every time money was "borrowed" ...Treasury Bills were purchased. Those Treasury Bills make up the Trust Fun and as long as Republicans keep their grubby little hands off them...the Trust Fund is safe. As the Trust Fund gets depleted...those Treasury Bills are cashed in and we pay back the money we borrowed

 

[Papageorgio]

Every time money was "borrowed" ...Treasury Bills were purchased. Those Treasury Bills make up the Trust Fun and as long as Republicans keep their grubby little hands off them...the Trust Fund is safe. As the Trust Fund gets depleted...those Treasury Bills are cashed in and we pay back the money we borrowed

Other than your ignorant, moronic comment about Republicans, I agree with you.

 

[bripat9643]

Every time money was "borrowed" ...Treasury Bills were purchased. Those Treasury Bills make up the Trust Fun and as long as Republicans keep their grubby little hands off them...the Trust Fund is safe. As the Trust Fund gets depleted...those Treasury Bills are cashed in and we pay back the money we borrowed

So the money was taken from one pocket and put into another. Fraud, in other words. Only morons like you have fallen for the con.

 

[Lesh]

What the rubes don't seem to understand is that the government has no legal mechanism to "save" funds. When Reagan signed the deal to boost the Trust Fund...it meant that extra money was taken out of our paychecks to be used to make payments 40 years in the future. There is no legal place to PUT that money/

So as part of that deal the money was "borrowed" by the government in exchange for Treasury Bills. It's that simple.

 

[watchingfromafar]

You left out the cost of the investment broker.

He also left out the income tax

 

[watchingfromafar]

When Reagan signed the deal to boost the Trust Fund...

Our beloved government has already borrowed over a trillion dollars from the SS trust fund and my guess is they will never pay it back

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[mikegriffith1]

Privatize Social Security

The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 83-year history, it has collected roughly $20.9 trillion and paid out $18.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2017 in its two trust funds. With assets of $2.9 trillion, who wouldn’t want to be the owner--? I am sure Trump's minions would like a slice of the pie !!

Uh, there is a big, whopping IOU in the Social Security "trust funds."

FYI, Trump is opposed to privatizing Social Security. He even spoke against this idea at the CPAC conference a few years ago.

 

[Norman]

Privatize Social Security

The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 83-year history, it has collected roughly $20.9 trillion and paid out $18.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2017 in its two trust funds.

With assets of $2.9 trillion, who wouldn’t want to be the owner--?

I am sure Trump's minions would like a slice of the pie !!

Your absolutely correct, some of us "minions" would like a slice of that pie. And strangely enough, a number of us "minions" will get a slice of that pie since we've been working for years and pay into that pie.

The pie is crumbs compared to what you have been promised.

 

[Lesh]

When Reagan signed the deal to boost the Trust Fund...

Our beloved government has already borrowed over a trillion dollars from the SS trust fund and my guess is they will never pay it back

-

They pay it back on a regular basis and will continue to as long as we keep Republicans away from the Trust Fund

 

[Lesh]

Uh, there is a big, whopping IOU in the Social Security "trust funds."

Your MORTGAGE is an IOU...is that real?

 

[watchingfromafar]

Uh, there is a big, whopping IOU in the Social Security "trust funds."

I cannot speak for anyone else but I am getting $2,067.00 a month from SS. This pays my mortgage and a few of my other monthly bills. If it wasn’t for SS I would have lost my home and no telling what would have come of me. Maybe I would be holding a sign at a street corner asking for help?

You are welcome to badmouth SS but when your turn 67 your tune will change.

A SUMMARY OF THE 2018 ANNUAL SOCIAL SECURITYAND MEDICARE TRUST FUND REPORTS. In 2017, Social Security's reserves increased by $44 billion to reach $2.9 trillion by the year's end. ... The projected depletion date for the combined OASDI funds 1 remains 2034, as reported last year.