ok let's talk Social Securty

[Mac1958]

.

There are relatively simple tweaks that can be made to Soc Sec to keep it running: Increase the payroll tax, increase or eliminate the cap (effectively making it means-tested), changing/increasing age of eligibility.

Of all the problems facing us, this is the easiest fix. A few quick facts:

• Nine out of ten individuals age 65 and older receive Social Security benefits.
• Social Security benefits represent about 38% of the income of the elderly.
• Among elderly Social Security beneficiaries, 52% of married couples and 74% of unmarried persons receive 50% or more of their income from Social Security.
• Among elderly Social Security beneficiaries, 22% of married couples and about 47% of unmarried persons rely on Social Security for 90% or more of their income.

We need the program, we can afford it, it works, we can't put millions on the streets for our "liberty".

This is not a big issue, or at least it shouldn't be.

.

 

[zeke]

There are relatively simple tweaks that can be made to Soc Sec to keep it running: Increase the payroll tax, increase or eliminate the cap (effectively making it means-tested), changing/increasing age of eligibility.

So why don't any of these good ideas get implemented?

 

[JakeStarkey]

Because the Dems and the Pubs want the money in the slush fund, and the rest is up to competing agendas of the two parties.

 

[NYcarbineer]

gonna make this real simple.

Ida May Fuller paid into Social Security for 3 years.
she paid a TOTAL of $24.75

her first check was $22
her monthly checks averaged $52
she collected a total of $22,888.92

anyone who thinks this program can sustain itself is a freaking lunatic.

the original text of the Social Security program states that they can raise the benefit age to 75, which is PROOF that scam artist Roosevelt and his buddies KNEW this program wouldn't work for ever.

Those of you who support Social Security are saying to your kids and grandkids,
"I got my money! good luck! vote Democrat, maybe you'll get something"

When Fuller began getting SS checks in 1940, the assets in the SS Trust Fund were about 2 billion.

When she died in 1975, at the age of ONE HUNDRED, the assets in the SS Trust Fund were about 37 billion.

OASI Trust Fund a Social Security fund

 

[NYcarbineer]

There are relatively simple tweaks that can be made to Soc Sec to keep it running: Increase the payroll tax, increase or eliminate the cap (effectively making it means-tested), changing/increasing age of eligibility.

So why don't any of these good ideas get implemented?

They won't until the crisis is imminent, like 1983.

Republicans are loath to make SS look too healthy, if they don't have to, because then they can't run on their looney privatization schemes.

 

[Rikurzhen]

.

There are relatively simple tweaks that can be made to Soc Sec to keep it running: Increase the payroll tax, increase or eliminate the cap (effectively making it means-tested), changing/increasing age of eligibility.

Of all the problems facing us, this is the easiest fix. A few quick facts:

• Nine out of ten individuals age 65 and older receive Social Security benefits.
• Social Security benefits represent about 38% of the income of the elderly.
• Among elderly Social Security beneficiaries, 52% of married couples and 74% of unmarried persons receive 50% or more of their income from Social Security.
• Among elderly Social Security beneficiaries, 22% of married couples and about 47% of unmarried persons rely on Social Security for 90% or more of their income.

We need the program, we can afford it, it works, we can't put millions on the streets for our "liberty".

This is not a big issue, or at least it shouldn't be.

.

Sure, we can "fix" it and sure "it's the easier fix compared to Medicare" but there still remain three fundamental issues with this Ponzi scheme.

1.) The young who are shafted with the higher taxes don't get corresponding higher benefits when THEY retire, all those extra taxes go to pay for the existing retirees.
2.) Putting a cap on the benefits removes the last fiction that this isn't welfare and so puts SS on the cutting block with all other welfare programs. In terms of pragmatic politics, there's been a lot of resistance to this move.
3.) The poor are subsidizing the rich:

 

[HereWeGoAgain]

Anyone who plans on relying on SS security as anything other than a supplement is in for a very boring retirement.

 

[boedicca]

Here's some MATH:

When SS started, there were 40 taxpayers per recipient. We are now below 3 taxpayers per recipient, and quickly headed to 2. (I do think this is one of the motivators for the Dems to "legalize" millions of young Hispanics, btw - they need more tax donkeys). SS is a Ponzi Scheme. The vast majority of people would have been far better off if the money that they paid in SS taxes had instead been saved in private accounts. The compounded interest (up until the Fed ruined savings with ZIRP) would have resulted in far more than their pile of SS IOUs.

 

[boedicca]

Anyone who plans on relying on SS security as anything other than a supplement is in for a very boring retirement.

Unless, of course, they undertake colorful post retirement careers as panhandlers, muggers, or cat burglars.

 

[boilermaker55]

And?

I don't know what the rules are now but my grandfather retired at 65 and lived til 105,
social security all the live long day

 

[HereWeGoAgain]

Anyone who plans on relying on SS security as anything other than a supplement is in for a very boring retirement.

Unless, of course, they undertake a colorful post retirement careers as panhandlers, muggers, or cat burglars.

They better put some wheels on the walker for a fast getaway...those tennis balls just ain't gonna cut it.

 

[healthmyths]

people are not living longer

GEEZ! Don't you ever use the Internet except to show your ignorance???

FACT: from this web site:http://www.infoplease.com/ipa/A0005140.html
What you are looking at just because you are so simple-minded!!

in 1850 a male born would live for 38.3 YEARS!
In 2011 a male born would live for 76.3 years!
Hmmmmm... so it would appear that people ARE LIVING LONGER!!!
When SS was established in the 1930s male born would live to age 62.8.... hence they age of retirement 65!
Government KNEW from tables like these they wouldn't be paying much out!
Do you understand now??

 

[Siete]

four of my close friends died in their 50's ... three from health reasons, one from an accident.

not everyone makes it to their 70's.