“It will be my objective to phase out Social Security." - Sen. Mike Lee says the quiet part out loud.

[Natural Citizen]

I'd not trust Mike Lee as far as I could toss him.....

He's one of the best in Washington, in my view.

Of course, the bar for that isn't too high, but still.....

 

[Orangecat]

So you didn’t pay in
Figures

I’ve been forced to pay in for decades. That doesn’t mean I don’t recognize a Ponzi scheme when I see one.

 

[Orangecat]

Wrong.
A ponzi scheme pays out more than is reasonable or sustainable, and always has to fail.
Social security invests our pay-in surplus into government bonds, to finance the national debt, and saves us huge amounts of taxes.
There will only be a slight SS deficit for a decade or so, and that is covered by all the interest SS earns over the many decades.
SS will never have to fail and can't be allowed to fail since it is what finances the interest on the national debt.

A Ponzi scheme pays out initial investors with the money taken in from current investors. The only reason this one keeps going is the government is forcing it.

 

[Rambunctious]

We have spent 150 billion dollars on illegal migrants needs just this year alone... and we can't solidify our retirement system?... we are sending billions abroad as we are screwing the elderly and working poor... it should make us all sick...

 

[Orangecat]

SS works fine, but only if its "fixed" occasionally. SS has been working fine since 1935.

Most Ponzi schemes would work in perpetuity if there is an enforcement mechanism to keep people paying in.

 

[Couchpotato]

Not if there is no NASA. Thats like getting rid of the Pentagon because Boeing makes the F35 for them.

But it won't happen. Musk needs those sweet sweet multibillion government contracts. And now he us in charge...

In charge of what?

 

[Jarlaxle]

The only way that works is if you uncap the tax but cap the benefit. But it’s not a tax it’s your money except the government argued against that to SCOTUS when it was reviewing the constitutionality of SS.

Nope. It's a tax.

 

[Natural Citizen]

A Ponzi scheme pays out initial investors with the money taken in from current investors. The only reason this one keeps going is the government is forcing it.

They have no choice.

The country has been reduced to the point that we must pay tax just to have a monetary system.

Thats how bad it is.

The entire monetary system and policy is built solely upon monetized IOUs and taxes.

 

[Mac-7]

Means after you turn 70, Ya done. No more sucking off the government tit, Ya Damn Boomah.

As usual you have nothing serious to offer

 

[Orangecat]

Musk needs those sweet sweet multibillion government contracts.

Actually, he doesn't. He's got enough money already.

 

[Couchpotato]

Nope. It's a tax.

I agree that it's a tax. But that's not what it was/is sold as. The US Government argued that it was a tax to SCOTUS after it told the US public it wasn't a tax.

 

[kyzr]

They need to let young people opt out of it rather than forcing them into it at the barrel of a government gun.

Never happen, we need workers to pay the benefits of retirees who paid the benefits of the retirees before them, see how it works?
If you want to invest get a 401k.

 

[kyzr]

Most Ponzi schemes would work in perpetuity if there is an enforcement mechanism to keep people paying in.

Then its not a Ponzi scheme, its a functional retirement system.

 

[Orangecat]

Then its not a Ponzi scheme, its a functional retirement system.

Based upon the principles of a classic Ponzi scheme.
If current beneficiaries are being paid via the forced contributions of current workers, it's actually more heinous than a Ponzi scheme.

 

[Jarlaxle]

Then its not a Ponzi scheme, its a functional retirement system.

Until it implodes.

 

[Natural Citizen]

Never happen, we need workers to pay the benefits of retirees who paid the benefits of the retirees before them, see how it works?

I see how it works in your utopia at the barrel of a government gun, but in a free society, Individuals should be responsible for their own retirement savings.

By the model you're endorsing, you may as well just come right out and say from each according to his ability and to each according to his need.

Why do you hate taking responsibility for oneself?

Why do you hate freedom?

Why do you champion theft and redistribution of the fruits of one's labor by force of the barrel of a government gun?

Why, Santy Claus? Why?

 

[John Edgar Slow Horses]

Zincwarrior said:
Means after you turn 70, Ya done. No more sucking off the government tit, Ya Damn Boomah.

No suck off your parents, OK zoomer?

 

[ThisIsMe]

So a tax that doesn’t exist and that is not slated to touch the average American is what you’re worried about…

Ok then

What did I just say? It starts out "only on the rich", but eventually gets out on common people, in time

It doesn't exist, you're right, but the left want it to

 

[Lakhota]

 

[Lakhota]