The Social Security Conundrum

Discussion in 'US Constitution' started by DGS49, Apr 15, 2018.

  1. DGS49
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    DGS49 Gold Member

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    In the 70's, when the Boomers were just coming into the best earning years, the system was flooded with cash. It was then that the stipends started to skyrocket, disability pensions were added, the amounts were indexed to inflation, and so on.

    Initially, it was sold as a SUPPLEMENT to YOUR OWN RETIREMENT RESOURCES. When people first started complaining that it wasn't enough to live on, they were bitch-slapped because it was never intended to be enough, by itself, to live on. But then, the Boomer money started coming in, and Congress saw a way of buying the votes of old bastards (like me).

    It was and is disgraceful.
     
  2. jwoodie
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    jwoodie Gold Member Supporting Member

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    Social Security always was an old age welfare program masquerading as a retirement plan. Low income contributors already get up to 4 times as much per dollar paid in than do higher income contributors. Of course the highest income people get exempted out of this ponzi scheme by the earnings cap.

    In the future, we will see an income test for all benefits similar to the earnings reductions for people who draw benefits before full retirement age. Hopefully, we will also see elimination of the earnings cap, which is a huge tax avoidance break for high income individuals. Why shouldn't they have to share the pain?
     
  3. DGS49
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    DGS49 Gold Member

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    When I was growing up, and Social Security monthly payments were a pittance, the "culture" in America included a mandate that we take care of our elderly parents and grandparents...and even elderly aunts and uncles who had no one else. Many wonder why old houses are so big. A typical middle-class household in the 30's, 40's, and 50's included a married couple, their 3-5 kids, one or two elderly grandparents, and probably an elderly uncle or aunt who "had no other place to go." They needed a big house (usually with only one bathroom).

    Admittedly, this left a lot of "Seniors" with no family to take care of them, but these were a small minority of the total. And truth be told, some of the grandparents were not happy to be living with their children and grandchildren, who may have had to struggle financially to keep the wheels turning.

    The expansion of Social Security meant - being crude about it - that you could then toss Granny out, because her Social Security became substantial enough for her to afford a small apartment and food.

    The impact on the culture was profound, and has never been formally recognized. The late Boomers and the following generations became the first to NOT have elderly relatives in their home, and we are a much-coarsened society because of it. When my own father retired, I insisted that he come live with us, so that my son could have the experience of living with an elderly person, with all that that entails.
     
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  4. Erinwltr
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    Erinwltr VIP Member

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    A while back, I read that some two thirds of the people receiving SS rely on it as their sole source of income. How could anyone in good conscience get rid of SS is beside me.
     
  5. Mr Clean
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    Mr Clean Gold Member

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    And yet there are plenty of people over 65 years of age that vote republican.

    Go figure.
     
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  6. MarathonMike
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    MarathonMike Platinum Member

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    Yes SS is an enormous problem that is only going to get worse. It is completely dependent upon current workers and employers to keep the system afloat. But....uh oh the numbers of retirees keeps going up and the numbers of new workers entering the workforce keeps dropping. Worse yet the ones entering the workforce do not make high enough incomes to pay the maximum (or anywhere near it) which is what the system needs to survive in it's present form.

    Theoretically the system should be scrapped but in reality we can't do that because of the millions who totally live off their SS check. What a mess. Do you ever notice that the bigger the program, the worse our government fucks it up? What was that, it will be different with Obamacare?
     
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  7. sparky
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    sparky Gold Member

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    well that all sounds nice ,and might look good on paper, but the key term is gonna be 'balanced budget'

    ~S~
     
  8. regent
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    regent Gold Member

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    When America was created we had County-Poor-Farms where poor people might go for help; they would often be fed and given a place to sleep. Of course the poor farms made them work often contracting their labor out to work on farms and such. In those Pre-Marx days the fear of communism was not that great so it was OK to be poor. Not good but at least one was not a communist.
     
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  9. PoliticalChic
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    PoliticalChic Diamond Member

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    Americans have never allowed their fellow citizens to starve.


    [​IMG]
     
  10. regent
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    regent Gold Member

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    As long as America had a garbage system at the beginning of The Great
    Depression the more enterprising kids seemed to eat well. Fortunately Hoover had the RFC and was able to keep industry also eating well.
     

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