Biden RAISES Social Security Payments On Way Out

[Lesh]

Then they system doesn't work.

Yes shortfalls can be addressed.

Sound like we're being scammed. Think about all of us who pay in and all of us who die before ever taking one penny out. Something's foul. Maybe Elon and Trump will expose the scam.

Guess what? They say the same thing about giving people who send their kids to private school. That it will be taking away from public schools. Tough shit. Pretend those kids just never existed. The public school system will figure it out. And how did we afford public schools before half the lottery moneys we make went to schools? I don't believe lotto goes to the schools. If it does, I bet there's a lot of fraud waste and abuse there.

Yesterday I heard USAID has thousands of workers who are paid to distribute the food we give. So is USAID like a charity? Charities only give 10% of what they get to the people who actually need it. 90% goes to the organization.

America needs this. Even if they go too far, we need this. Then we can always undo what they shouldn't have done. But I have a feeling we'll be just fine without the Department of Education. That was something maybe we needed in the mid 1900's. Now it's just a beaurocrazy.

Wow. You’ve been sipping the Kool Aid.

That’s new.

If you die… you kinda don’t need that money.

If you live… you certainly do


Fucking with the system (that DOES work and has for 100 years) ensures that if you live you WON’t have that money when you retire

 

[John Edgar Slow Horses]

It would be a great idea to pass on what you put into to your family but the govt won't allow that because it would cause the SS ponzi scheme to collapse.

That's only an opinion with no evidence. Opinions are like orgasms: they are individual. I like mine and don't care if you have one.

 

[WorldWatcher]

Wow. You’ve been sipping the Kool Aid.

That’s new.

If you die… you kinda don’t need that money.

If you live… you certainly do


Fucking with the system (that DOES work and has for 100 years) ensures that if you live you WON’t have that money when you retire

The problem is that some don't get the fact that SS is not an investment account, it's an insurance system where current "premiums" (raised as a tax) pay current benefits. The money doesn't exist in an individual account.

Don't get me wrong, I fully support moving to a mandated, locked - investment account system where the money actually DOES exist.

The problem is that no one has ever presented a viable way to transition from the current pay/go system to long term individual accounts.

• How will current benefits still be paid for current retirees?
• What happens with late career people?
• What happens with mid career people?
• What happens for new career people?

How do you fund the transition that will take 50-70 years?

Also, what will be the impact of dumping all that "new money" into the stock/bond markets?

WW

 

[Lesh]

The problem is that some don't get the fact that SS is not an investment account, it's an insurance system where current "premiums" (raised as a tax) pay current benefits. The money doesn't exist in an individual account.

Don't get me wrong, I fully support moving to a mandated, locked - investment account system where the money actually DOES exist.

The problem is that no one has ever presented a viable way to transition from the current pay/go system to long term individual accounts.

• How will current benefits still be paid for current retirees?
• What happens with late career people?
• What happens with mid career people?
• What happens for new career people?

How do you fund the transition that will take 50-70 years?

Also, what will be the impact of dumping all that "new money" into the stock/bond markets?

WW

Kinda like bitching that your term life insurance policy isn’t a whole life policy

It just isn’t.

 

[LordBrownTrout]

That's only an opinion with no evidence. Opinions are like orgasms: they are individual. I like mine and don't care if you have one.

So you would rather have no choice, allow the govt to take your money, give you a small pittance and not allow your family to receive the money you paid into the system. Got it. That's very selfish and shows how much you love the govt.

 

[Lesh]

So you would rather have no choice, allow the govt to take your money, give you a small pittance and not allow your family to receive the money you paid into the system. Got it. That's very selfish and shows how much you love the govt.

Pittance? Hardly. I made a good living for a long time so subsequently I receive a healthy SS check every month.

My wife made considerably less and worked a lot fewer years so she gets a little over a third what I get.

You might classify what she gets as a pittance but then considering what she made and the number of years she worked there is ZERO chance she would have saved a penny beyond her 401.

As far as leaving money to my kids…. There’s my house and our 401s

That’s plenty.

 

[WorldWatcher]

Pittance? Hardly. I made a good living for a long time so subsequently I receive a healthy SS check every month.

My wife made considerably less and worked a lot fewer years so she gets a little over a third what I get.

You might classify what she gets as a pittance but then considering what she made and the number of years she worked there is ZERO chance she would have saved a penny beyond her 401.

As far as leaving money to my kids…. There’s my house and our 401s

That’s plenty.

BTW - If you pass first as the higher wage earner, your wife's SS gets raised you your value.

WW

 

[sealybobo]

Wow. You’ve been sipping the Kool Aid.

That’s new.

If you die… you kinda don’t need that money.

If you live… you certainly do


Fucking with the system (that DOES work and has for 100 years) ensures that if you live you WON’t have that money when you retire

What we are doing now isn't the only way it could be done.

And who cares when I die? How about my wife and kids? If I saved that money myself, they'd get it. So moving forward, everyone gets their own ss bucket. What I put in, I get back. With interest.

Yes, I have sipped the cool aid. I was trying to help other people but they don't want to help themselves. They didn't vote or voted for Trump. So now American Capitalism and socialism is going to be MUCH different in the future. Sorry if you don't like the results. If you are poor, that's your fault. If you are middle class, you better save more than you have been. And if you're rich, you're going to love this.

My buddy and I were talking about Biden's student loan forgiveness. It was shit like that why we lost. And honestly, I don't even agree with that.

If you've never seen a Democrat turn into a Republican on USMB before, this will be your first.

I suppose next year you will be running on the promise to grow the government back when you get back into power? Or you will promise to continue sending my money to Africa?

 

[Lesh]

BTW - If you pass first as the higher wage earner, your wife's SS gets raised you your value.

WW

Yup. If she passes… I lose hers

 

[Lesh]

What we are doing now isn't the only way it could be done.

And who cares when I die? How about my wife and kids? If I saved that money myself, they'd get it. So moving forward, everyone gets their own ss bucket. What I put in, I get back. With interest.

Yes, I have sipped the cool aid. I was trying to help other people but they don't want to help themselves. They didn't vote or voted for Trump. So now American Capitalism and socialism is going to be MUCH different in the future. Sorry if you don't like the results. If you are poor, that's your fault. If you are middle class, you better save more than you have been. And if you're rich, you're going to love this.

My buddy and I were talking about Biden's student loan forgiveness. It was shit like that why we lost. And honestly, I don't even agree with that.

If you've never seen a Democrat turn into a Republican on USMB before, this will be your first.

I suppose next year you will be running on the promise to grow the government back when you get back into power? Or you will promise to continue sending my money to Africa?

As noted… if you pass your wife gets your SS bennies.

It INSURANCE. If you want something different put money on a 401 or Roth

 

[Lesh]

What we are doing now isn't the only way it could be done.

And who cares when I die? How about my wife and kids? If I saved that money myself, they'd get it. So moving forward, everyone gets their own ss bucket. What I put in, I get back. With interest.

Yes, I have sipped the cool aid. I was trying to help other people but they don't want to help themselves. They didn't vote or voted for Trump. So now American Capitalism and socialism is going to be MUCH different in the future. Sorry if you don't like the results. If you are poor, that's your fault. If you are middle class, you better save more than you have been. And if you're rich, you're going to love this.

My buddy and I were talking about Biden's student loan forgiveness. It was shit like that why we lost. And honestly, I don't even agree with that.

If you've never seen a Democrat turn into a Republican on USMB before, this will be your first.

I suppose next year you will be running on the promise to grow the government back when you get back into power? Or you will promise to continue sending my money to Africa?

Damn. Is there a pod in your basement? What happened to you?

 

[sealybobo]

Pittance? Hardly. I made a good living for a long time so subsequently I receive a healthy SS check every month.

My wife made considerably less and worked a lot fewer years so she gets a little over a third what I get.

You might classify what she gets as a pittance but then considering what she made and the number of years she worked there is ZERO chance she would have saved a penny beyond her 401.

As far as leaving money to my kids…. There’s my house and our 401s

That’s plenty.

Maybe there is a better way

Netherlands
Pays out more than 90% of the median worker's earnings in retirement
How do they do that?
Denmark
Considered one of the best performing countries for social security
Israel
Pays out more than the global average

Austria, Luxembourgh, etc.

I'm curious how their systems are set up. Do you lose everything when you die? Probably.

 

[Lesh]

Maybe there is a better way

Netherlands
Pays out more than 90% of the median worker's earnings in retirement
How do they do that?
Denmark
Considered one of the best performing countries for social security
Israel
Pays out more than the global average

Austria, Luxembourgh, etc.

I'm curious how their systems are set up. Do you lose everything when you die? Probably.

Do the research then. Don’t act like a Trumper. Be better than them

I suspect you’ll find out they pay a LOT more in taxes. But you’ll understand better if you research it yourself

 

[sealybobo]

Damn. Is there a pod in your basement? What happened to you?

1. I've always seen both sides.
2. I'm disgusted with poor and middle class people for voting for this. Now they get what they deserve.
3. I hope I'm wrong about Trump.
4. Seems better than Reagan or Bush
5. I see him doing things I like.
6. Nothing he's done so far has hurt me

For example, I'm not in a union but I see why unions are valuable to a strong middle class. But too few poor and middle class blue collar Americans who benefit from them appreciate them. They voted for Trump. If Trump takes on unions in the next 4 years, don't expect me to defend them. They are why a F150 costs so much and why their jobs went to Mexico. They asked for too much.

My buddy yesterday reminded me that his mom is still collecting a pension from Chrysler because her husband died 25 years ago!!! That's not sustainable. Or fair.

I used to not mind that they made as much as me, a college educated guy. Now I say fuck that. They got it better than me. If I would have went to work for Ford when I was 17 I'd be retired now for 7 years already. Instead I have to work another 8 years. That's 15 years more work. No wonder F150's cost so much.

 

[sealybobo]

Do the research then. Don’t act like a Trumper. Be better than them

I suspect you’ll find out they pay a LOT more in taxes. But you’ll understand better if you research it yourself

And they probably lose it when they die too.

I'm wondering if any other country does it the way Republicans want to do it.

 

[Lesh]

And they probably lose it when they die too.

I'm wondering if any other country does it the way Republicans want to do it.

Like I said. Do the research.

Try Chile

They privatized their retirement program and it was a disaster

 

[Lesh]

1. I've always seen both sides.
2. I'm disgusted with poor and middle class people for voting for this. Now they get what they deserve.
3. I hope I'm wrong about Trump.
4. Seems better than Reagan or Bush
5. I see him doing things I like.
6. Nothing he's done so far has hurt me

For example, I'm not in a union but I see why unions are valuable to a strong middle class. But too few poor and middle class blue collar Americans who benefit from them appreciate them. They voted for Trump. If Trump takes on unions in the next 4 years, don't expect me to defend them. They are why a F150 costs so much and why their jobs went to Mexico. They asked for too much.

My buddy yesterday reminded me that his mom is still collecting a pension from Chrysler because her husband died 25 years ago!!! That's not sustainable. Or fair.

I used to not mind that they made as much as me, a college educated guy. Now I say fuck that. They got it better than me. If I would have went to work for Ford when I was 17 I'd be retired now for 7 years already. Instead I have to work another 8 years. That's 15 years more work. No wonder F150's cost so much.

You mention the Chrysler pension

It certainly IS fair. Her husband (and by extension she herself) gave up pay raises in order to get that pension.

If it’s not sustainable that’s on Chrysler.

 

[WorldWatcher]

And that’s what’s happening

I'm not sure if you meant:

You should only get SS for 20 years because that is the number of years worked, or

You should only get SS benefits for life based on the 20 years worked.

WW

 

[WorldWatcher]

Maybe there is a better way

Netherlands
Pays out more than 90% of the median worker's earnings in retirement
How do they do that?
Denmark
Considered one of the best performing countries for social security
Israel
Pays out more than the global average

Austria, Luxembourgh, etc.

I'm curious how their systems are set up. Do you lose everything when you die? Probably.

Now take a look at their tax rates for social programs compared to out 6.2% on EE wages.

Not that long ago someone was extolling Sweden as an example of personal accounts in a "lock box". Turns out their rate for very good benefits in retirement was in the 34% rage. IIRC.

WW

 

[John Edgar Slow Horses]

So you would rather have no choice, allow the govt to take your money, give you a small pittance and not allow your family to receive the money you paid into the system. Got it. That's very selfish and shows how much you love the govt.

Prove it then.