Will Republicans end social security?

[M14 Shooter]

Funny you left out Reagan, Bush I, Bush II, and Trump.

You didn't read the post I responded to, eh?
Even though it was quoted in my post?

 

[WorldWatcher]

You didn't read the post I responded to, eh?
Even though it was quoted in my post?

My apologies. Yes I missed that scrolling down.

My bad.

WW

 

[Papageorgio]

Yea I'm not going to go along with what went down back then but as far as the auto industry, bailing them out probably saved the American middle class. We have an imperfect system. Seems like you Republicans want to destroy it. Either when you are in power you want to destroy it from within or when you aren't in power you pray for us to fall apart, which never happens. Biden is killing it.

And let me remind you that if Trump was president, you'd be arguing this is the greatest time in American history

From 2019 to 2022, the median net worth of American families jumped 37% to $192,900, after adjusting for inflation. It’s the largest increase ever recorded by the federal Survey of Consumer Finances, released last fall.

You would ignore the fact that the super rich are driving those numbers way up. Now suddenly you're worrying about the wealth gap? Interesting. So give Biden credit for From 2019 to 2022, the median net worth of American families jumped 37% to $192,900, after adjusting for inflation. It’s the largest increase ever recorded by the federal Survey of Consumer Finances, released last fall.

And if you are a republican and complaining that you're not benefiting from it, then take your own advice from the 2000's. Go back to school, start your own company or get a new job.

And today that advice is good because there are jobs out there. There weren't during the Bush years so that advice back then was bullshit. The economy is booming. Go get it!

I’m not complaining, i do nothing to destroy shit, you just like to blame others for your party’s bullshit.

It would not of destroyed anything because demand would have forced other automakers to produce vehicles. You assholes hate big business but you bail their asses out. Me I don’t support big business or the tax laws but. Congress makes the rules and the two parties are the ones giving the rich tax breaks, spare me all the BS. You are like Republicans, spend spend spend, I tire of you hypocrites.

 

[sealybobo]

I’m not complaining, i do nothing to destroy shit, you just like to blame others for your party’s bullshit.

It would not of destroyed anything because demand would have forced other automakers to produce vehicles. You assholes hate big business but you bail their asses out. Me I don’t support big business or the tax laws but. Congress makes the rules and the two parties are the ones giving the rich tax breaks, spare me all the BS. You are like Republicans, spend spend spend, I tire of you hypocrites.

You are such a sucker. When the economic collapse happens you'll fall for it.

“Reagan proved that deficits don’t matter,” Vice President Dick Cheney said when the Bush administration sought a second round of tax cuts in 2003. This fits with a rich tradition of conservative tax-cutters abandoning deficit hawkery when they want to hand money to favored groups. But some economists on the left agree with Cheney that deficits don’t matter—at least not as much as more jobs and prosperity for all—and their views are getting newfound attention because of an offhand comment by presumptive Republican presidential nominee Donald Trump.

Trump found himself well outside of mainstream thinking about deficits and debt last week when he suggested that the United States could borrow money to shore up the economy and simply ask for discounts on the debt later. Doing so would sap confidence in U.S. Treasury bonds, considered the safest financial investment in the world. The resulting interest rate rise would defeat the purpose of getting a discount on the debt, not to mention potentially triggering financial catastrophe.

Donald Trump Is Right: Deficits Don’t Matter

He stumbled into a left-wing debate and exposed an unsaid but prevalent conservative hypocrisy.

newrepublic.com

 

[sealybobo]

So did Kennedy, Johnson, Carter, Clinton, Obama and Biden.
Each of them took every penny of the SS surplus and spent it.
How did you manage to not mention that?

Which party is willing to find ways to fill up the fund? Democrats

Which party wants to kill the program? Republicans.

Find ways to put the money back.

 

[Jarlaxle]

Just give me every penny I have had taken, and stop taking anymore, add 10% interest to what I have paid, and call it a day!

At this point...stop taking my money and I will happily write off everything I have put in.

Social Security will eventually end itself. It is a Ponzi Scheme that is not economically viable because of the "graying" of American. When the system went into effect, there were 13 workers for every retiree. That ratio is now 5 to 1. Another nail in the coffin is the fact that the average recipient receives seven time the amount they put into the system.

I recall is hit 3:1 a few years ago and is getting worse.

 

[Jarlaxle]

SS needs the cap raised, and possibly the ages one year, since people are living longer.

It would actually be VERY simple to make things solvent! Just return to the original numbers, where you could collect, on average, two years after you died! Simply make the age to collect social security the country's average life expectancy, plus one!

View attachment 916161

Every word of that is a lie

 

[Jarlaxle]

It's as if you cut and pasted one of my posts. You're preaching to the choir.

Despite the extremely superficial correlation of today's workers providing a substantial percentage of the benefits existing beneficiaries are receiving, Social Security in no way meets the definition of a Ponzi scheme.

Ron Johnson again calls Social Security a Ponzi scheme

During his State of the Union address, and in the weeks since, President Joe Biden has called out Republicans, saying th

www.politifact.com

That's a lie.

Those who are younger than 50, and some how think that you would by magic start saving or doing some good investing with that 15 to 35 dollars taken out of your pay check.
Just don't believe it because half the country is mired in Credit Card debt.

That is nonsensical.

So did Kennedy, Johnson, Carter, Clinton, Obama and Biden.
Each of them took every penny of the SS surplus and spent it.
How did you manage to not mention that?

Because he is not honest.

 

[sealybobo]

That's a lie.



That is nonsensical.



Because he is not honest.

But is Social Security truly nothing more than a Ponzi scheme? Dig beyond the social media message boards and you'll see that this opinion is completely lacking in evidence.

In 2022, 90.6% of the $1.222 trillion Social Security collected derived from the 12.4% payroll tax on earned income (wages and salary, but not investment income) of working Americans. The remaining 9.4% ($115 billion) can be traced back to interest income earned on Social Security's asset reserves, as well as the taxation of benefits.

A third way Social Security confirms it's not a Ponzi scheme is by the transparency of its Trustees Reports. More specifically, every cent of the program's $2.8 trillion in combined OASI and Disability Insurance Trust Fund (DI) asset reserves is accounted for.

The Social Security program is required by law to invest any excess cash collected into ultra-safe, special-issue government bonds that generate interest income. The program's investment holdings are updated monthly, with an even more detailed breakdown of bonds held, along with maturities, in the annual Trustees Report.

Despite the extremely superficial correlation of today's workers providing a substantial percentage of the benefits existing beneficiaries are receiving, Social Security in no way meets the definition of a Ponzi scheme.

In addition to the fallacy of Social Security being a Ponzi scheme, other outright lies have made the rounds on social media, including "Congress stole from Social Security" and that "undocumented workers are receiving benefits." None of these claims bear any bit of truth for why Social Security is contending with a $22.4 trillion long-term funding shortfall.

The bulk of Social Security's financial shortcomings can be traced back to demographic shifts.

Some of these shifts are well known. For instance, the steady retirement of baby boomers is lowering the worker-to-beneficiary ratio over time. Likewise, life expectancies have notably risen since the first retired-worker check was mailed in January 1940. Social Security was never meant to pay beneficiaries for multiple decades, as can happen now.

But it's the less-visible demographic shifts that are causing the most harm.

As an example, legal migration into the U.S. has declined for 25 consecutive years. Most legal immigrants arriving in the U.S. tend to be young, which means they'll spend decades in the labor force contributing to the program via the payroll tax before collecting a benefit of their own. Social Security relies on a healthy level of net migration into the U.S., and this figure has been precipitously declining.

Is this why Republicans are anti immigration?

Another problem for America's leading retirement program is a historic decline in U.S. birth rates.

Is Social Security a Gigantic Ponzi Scheme? The Answer May Surprise You. | The Motley Fool

Is America's leading retirement program nothing more than a fraud? Here's the undeniable truth.

www.fool.com

 

[sealybobo]

I’m not complaining, i do nothing to destroy shit, you just like to blame others for your party’s bullshit.

It would not of destroyed anything because demand would have forced other automakers to produce vehicles. You assholes hate big business but you bail their asses out. Me I don’t support big business or the tax laws but. Congress makes the rules and the two parties are the ones giving the rich tax breaks, spare me all the BS. You are like Republicans, spend spend spend, I tire of you hypocrites.

If you want your social security you better start being pro immigration. We need 10 million low wage workers paying into social security.

Too many baby boomers retiring and not enough of us having kids who will go to work to fund the program. So either be pro immigration or get to fucking.

Now maybe I am pro life. We need poor Americans to start breeding if we want our social security.

 

[Jarlaxle]

But is Social Security truly nothing more than a Ponzi scheme? Dig beyond the social media message boards and you'll see that this opinion is completely lacking in evidence.

In 2022, 90.6% of the $1.222 trillion Social Security collected derived from the 12.4% payroll tax on earned income (wages and salary, but not investment income) of working Americans. The remaining 9.4% ($115 billion) can be traced back to interest income earned on Social Security's asset reserves, as well as the taxation of benefits.

A third way Social Security confirms it's not a Ponzi scheme is by the transparency of its Trustees Reports. More specifically, every cent of the program's $2.8 trillion in combined OASI and Disability Insurance Trust Fund (DI) asset reserves is accounted for.

The Social Security program is required by law to invest any excess cash collected into ultra-safe, special-issue government bonds that generate interest income. The program's investment holdings are updated monthly, with an even more detailed breakdown of bonds held, along with maturities, in the annual Trustees Report.

Despite the extremely superficial correlation of today's workers providing a substantial percentage of the benefits existing beneficiaries are receiving, Social Security in no way meets the definition of a Ponzi scheme.

In addition to the fallacy of Social Security being a Ponzi scheme, other outright lies have made the rounds on social media, including "Congress stole from Social Security" and that "undocumented workers are receiving benefits." None of these claims bear any bit of truth for why Social Security is contending with a $22.4 trillion long-term funding shortfall.

The bulk of Social Security's financial shortcomings can be traced back to demographic shifts.

Some of these shifts are well known. For instance, the steady retirement of baby boomers is lowering the worker-to-beneficiary ratio over time. Likewise, life expectancies have notably risen since the first retired-worker check was mailed in January 1940. Social Security was never meant to pay beneficiaries for multiple decades, as can happen now.

But it's the less-visible demographic shifts that are causing the most harm.

As an example, legal migration into the U.S. has declined for 25 consecutive years. Most legal immigrants arriving in the U.S. tend to be young, which means they'll spend decades in the labor force contributing to the program via the payroll tax before collecting a benefit of their own. Social Security relies on a healthy level of net migration into the U.S., and this figure has been precipitously declining.

Is this why Republicans are anti immigration?

Another problem for America's leading retirement program is a historic decline in U.S. birth rates.

Is Social Security a Gigantic Ponzi Scheme? The Answer May Surprise You. | The Motley Fool

Is America's leading retirement program nothing more than a fraud? Here's the undeniable truth.

www.fool.com

No matter how you sugarcoat it, it is (again and still) indistinguishable from what Charles Ponzi cooked up. Current beneficiaries are paid by new investments, which is the single defining characteristic of a Ponzi scheme.

 

[sealybobo]

No matter how you sugarcoat it, it is (again and still) indistinguishable from what Charles Ponzi cooked up. Current beneficiaries are paid by new investments, which is the single defining characteristic of a Ponzi scheme.

Nonsense. The only people who don't get paid are people who die too soon.

The money is invested in safe investments.

We just have too many baby boomers retiring and not enough workers. We should have seen this coming. But you Republicans probably did this by design.

Maybe if we let you outlaw abortion so young people start having more kids you'll let the immigrants who want in so we can fill the jobs now. The people you want to have babies need 18 years.

 

[Jarlaxle]

Nonsense. The only people who don't get paid are people who die too soon.

The money is invested in safe investments.

We just have too many baby boomers retiring and not enough workers. We should have seen this coming. But you Republicans probably did this by design.

Maybe if we let you outlaw abortion so young people start having more kids you'll let the immigrants who want in so we can fill the jobs now. The people you want to have babies need 18 years.

Every word of that is a lie, except the part that is a straw man.

 

[sealybobo]

No matter how you sugarcoat it, it is (again and still) indistinguishable from what Charles Ponzi cooked up. Current beneficiaries are paid by new investments, which is the single defining characteristic of a Ponzi scheme.

You know what pisses me off? My dad got a cost of living increase recently. A big one. So did all people on social security. So notice the old fuckers collecting ss and getting cost of living increases, are going to be the ones who say they have to cut our social security 20% to save the fund.

I tell my dad if the fund is going broke they need to freeze the payouts. I would accept that. Let's say you are going to get $2000 a month for the rest of your life. That's it. I don't care what happens with inflation in 20 years, you will still only get $2000 a month 20 years from now. If the government told me this when I retire in 9 years, I would accep that. I will not accept 20% cut to my benefits. But I'm afraid that's what's coming. And I'm afraid i will take it just like everyone else.

Just remember the Reagan, Bush and Trump tax giveaways to the rich when it happens. You voted for it Republicans.

 

[sealybobo]

Every word of that is a lie, except the part that is a straw man.

Thank you Jarl. You're important so I value your feedback.

 

[Jarlaxle]

You know what pisses me off? My dad got a cost of living increase recently. A big one. So did all people on social security. So notice the old fuckers collecting ss and getting cost of living increases, are going to be the ones who say they have to cut our social security 20% to save the fund.

I tell my dad if the fund is going broke they need to freeze the payouts. I would accept that. Let's say you are going to get $2000 a month for the rest of your life. That's it. I don't care what happens with inflation in 20 years, you will still only get $2000 a month 20 years from now. If the government told me this when I retire in 9 years, I would accep that. I will not accept 20% cut to my benefits. But I'm afraid that's what's coming. And I'm afraid i will take it just like everyone else.

Just remember the Reagan, Bush and Trump tax giveaways to the rich when it happens. You voted for it Republicans.

Straw men, deflections, and lies. That's all you post, it's all you ever post.

I have no expectation of collecting a cent from social security.

 

[sealybobo]

That's a lie.



That is nonsensical.



Because he is not honest.

Just be prepared for a 25% cut to your social security

If no changes are made before the fund runs out, the most likely result will be a reduction in the benefits that are paid out. If the only funds available to Social Security in 2033 are the current wage taxes being paid in, the administration would still be able to pay around 75% of promised benefits.

So $1500 a month instead of $2000 a month. That sucks. When the politicians tax you $500 a month for the rest of your life when you retire.

Now that's when I'd storm the Capitol. But that's just me.

I'll survive. $40K interest on my million plus $18K is $58K a year when I'm retired.

I just can't believe you Republicans are going to fall for it. Let the government shift the tax burden onto you like that. They pass tax breaks from Reagan to Trump for rich people and corporations and then 10 years from now they're going to take $500 a month out of your pocket?

And I bet you'll blame democrats.

 

[sealybobo]

Straw men, deflections, and lies. That's all you post, it's all you ever post.

I have no expectation of collecting a cent from social security.

Of course you don't expect to collect from social security. You're a sucker who's been paying in for years and you don't expect to get that money back? Why? You gonna die young? Maybe you didn't pay in? Please explain how you're going to be happy when the government taxes you $500 a month for life the day you retire. Please explain!!!

You helped them kill the program dummy. It's like unions. You attacked unions then cry today for uneducated blue collar whites because they don't make enough money? You're a joke. On everything.

 

[Papageorgio]

You are such a sucker. When the economic collapse happens you'll fall for it.

“Reagan proved that deficits don’t matter,” Vice President Dick Cheney said when the Bush administration sought a second round of tax cuts in 2003. This fits with a rich tradition of conservative tax-cutters abandoning deficit hawkery when they want to hand money to favored groups. But some economists on the left agree with Cheney that deficits don’t matter—at least not as much as more jobs and prosperity for all—and their views are getting newfound attention because of an offhand comment by presumptive Republican presidential nominee Donald Trump.

Trump found himself well outside of mainstream thinking about deficits and debt last week when he suggested that the United States could borrow money to shore up the economy and simply ask for discounts on the debt later. Doing so would sap confidence in U.S. Treasury bonds, considered the safest financial investment in the world. The resulting interest rate rise would defeat the purpose of getting a discount on the debt, not to mention potentially triggering financial catastrophe.

Donald Trump Is Right: Deficits Don’t Matter

He stumbled into a left-wing debate and exposed an unsaid but prevalent conservative hypocrisy.

newrepublic.com

Sure then why tax at all? If deficits and debt don’t matter, why even pay taxes, just add all spending on the federal debt and it will all be good?

I don’t follow Republicans, I care little about what they say.

 

[Jarlaxle]

Of course you don't expect to collect from social security. You're a sucker who's been paying in for years and you don't expect to get that money back? Why? You gonna die young? Maybe you didn't pay in? Please explain how you're going to be happy when the government taxes you $500 a month for life the day you retire. Please explain!!!

You helped them kill the program dummy. It's like unions. You attacked unions then cry today for uneducated blue collar whites because they don't make enough money? You're a joke. On everything.

This is gibberish.