Discussion in 'Economy' started by rayboyusmc, May 13, 2008.
Ohh look another retard post by the board liberal hack. Remind us again how we should all "just get along".
If you had a real argument to offer, wouldn't it be better to go with that instead of this tired routine you have?
You are less than interesting. You are a bore.
What an inane response, Retired. Getting along does not mean we all agree on everything. Bush squandered the surplus and Cheney said that deficit spending doesn't matter. Can you spell fuckingrecession?
If you were some rich bastard, I could see you kissing up Bush's ass, but what has he done for you? If he had won, you would not even have the SS to fall back on. The SS you paid for all those years.
The very fact that you immediately degenerate down into name calling would seem to indicate it is a case of the conservative retard calling the liberal a hack.
Lighten up. Take some more meds. Get them cheaper from Canada. Get some Niagra for you sex life.
The fact is that if we got rid of SS and everyone of us was to put 7.5 % of what we earn plus a 7.5% employer match (which are the same as we are all paying to the gov't slush fund called social security) from age 18 to age 65 into a retirement account we would all be better off than we would be on SS. here are some simple numbers
lets say that from age 24 to age 65 a person earning the median income of 2004 of just shy or 45 K (we'll call it 45K) and lets assume he gets no increases 15% of his annual income is $6750 his 7.5% contribution is 3375 divide by 12 for a monthly contribution of 281.15 so the total monthly contribution to his retirement account is 562.3 we'll round up to 563
over 41 years that monthly contribution at a mere 10% the resulting retirement fund will be over 3,500,000 bukaroos.
get 13% over that time and you will have over 9.2 million bucks.
for those of you who think 13% is not possible here is just one mutual fund that has averaged over 15% since 1978
these numbers don't take into account any increase in income over a 40 year period and using a 10% return is well below what is available so tell me that SS is better than this without sounding like an idiot especially since you don't have to be fucking rich to do it.
Where are your numbers for the value of the SS disability insurance component? That's a signigicant part of your coverage, yet you only focus on the retirement figures. It's hard to believe you've thought this through completely when you haven't thought this through completely.
SS disability insurance allows people like RGS to have a better life. He probably couldn't afford his computer without it. Despite this clear and significant downside, SS disability insurance also helps worthy people.
Also, what do you do when people make bad investments and get wiped out?
Social Security works. That may be why some on the right hate it.
If they try and take it away before I retire, then I will just have to sue the bastards.
The people like Bush who want to turn it into a private bonanza for their rich buddies don't need it, so why should they care.
That's total BS, anyone who plays the market, sort of like playing the horses, knows that diversification is key. And conservative investments after 50-55 depending on your income and tolerance etc.
And social security is social insurance, one of the few great things Americans do for each other, many of whom are in great need.
One man's retirement math: Social Security wins
At the heart of President Bush's plan to sell Social Security private accounts is a simple notion: You're always better off investing your retirement money than letting the government do it.
By doing it yourself, you can stow some money in the stock market, and over the long run will get a better return on that investment than today's Social Security system offers.
Just ask Stanley Logue of San Diego.
For 45 years, the defense-industry analyst paid into the system until his retirement in 1994. But with all the recent hoopla over reform, Mr. Logue, a Massachusetts Institute of Technology graduate, decided to go back and check his own records. Would he have done better investing his money than the bureaucrats at the Social Security Administration?
You guessed it.
one can buy his own disability insurance if the gov't let one keep more of his money. and a little research and diligence will protect your assets there are plenty of resources around to do that or you could learn youraself and stop trusting the gov't to take care of you
Then you need to adjust your numbers to reflect the premiums for that insurance. Since it's currently part of the FICA payments, you have less to invest in you overly optimistic scenario.
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