Pence and His SS Plan

[Winco]

Mike Pence calls for privatizing Social Security: They "keep saying the quiet part out loud"

"They want to cut ... Social Security and take away our young people's futures," says Rep. Pramila Jayapal

www.salon.com

I understand that SS was started in 1935 AND it has it's flaws.

So Pence discussed this ^^^^.
I don't disagree, just need to discuss the Issues.

Fact #1, if people die, right after retirement, shortly after, or many years beyond?
What is their Payout?
Will they collect MORE than they Contributed?
Will They Collect LESS than they Contributed?

The system as it is, sure, a total guess.
We should ALL be able to agree that this ^^^^ is a FACT.


Should we accept the plan of Pence, and hope it is better?
Me Personally, I have put in $144K and my Employer has contributed the same.
If I retire at 62, in 7 months, I will get $2,233 per month.
And we all KNOW this will change over time IF I wait.

So, $2,233 per month for 100 months, if SS is unchanged and NOT defunded.
Would be $223,300 in total.
But I get It, there is interest, and that PROBABLY cost me MUCH money.

Now 100/12 is only 8.3333 and I expect to live LONGER than than,
Which some will claim exactly WHY SS will fail.

So, using my example.....
IS MY SS CONTRIBUTION
I have put in $144K and my Employer has contributed the same.
Is MY contribution 144K or 288K.

What Should the Pence Plan Pay me?

 

[MarathonMike]

What Should the Pence Plan Pay me?

What Mike Pence was talking about is the POSSIBILITY of having the OPTION of taking PART of your social security in a non-government fund that COULD give a person more money in retirement. OH THE HUMANITY!!!!!

 

[Winco]

What Mike Pence was talking about is the POSSIBILITY of having the OPTION of taking PART of your social security in a non-government fund that COULD give a person more money in retirement. OH THE HUMANITY!!!!!

I understand that.
I'm open to listen, depending on the amount.

Why did my post confuse you so much?

 

[Rambunctious]

The republicans don't want to cut it they want to fix it before it bankrupts....
There are ways to make the system better for future workers without cutting people off cold.... but dems would rather let it go broke and use it as a political weapon.... and you sucker libs fall for it every time...

 

[Rambunctious]

Look how fast Trump turned the dismal Obama economy around... making life better for Americans is easy to do but dems and establishment republicans don't want us to not need them....

 

[Winco]

POSSIBILITY

I was in no way denying the Pence Plan.
I what more Info.

I've put in $145 K of my own money, plus the same from my employer, which IS already in the system.

So How much of a buy out should I be given. Of MY money.
Include Interest or NOT.

 

[C_Clayton_Jones]

Mike Pence calls for privatizing Social Security

Yet another Republican who wants to destroy Social Security.

Don’t believe the right’s lies – to ‘privatize’ is to destroy.

 

[Winco]

but dems would rather let it go broke and use it as a political weapon

No Way that is true from my perspective.
So I must NOT be a (D)? Right.

Discuss the Pence Plan.
I'm open for negotiations.
Discuss the negotiations.

It's discourse dude,
Discuss the possible Pence Plan.

 

[Rambunctious]

Yet another Republican who wants to destroy Social Security.

Don’t believe the right’s lies – to ‘privatize’ is to destroy.

Its already destroyed and you don't want to fix it so it will be solvent for years to come.... why? because its a good campaign slogan?....

 

[Rambunctious]

No Way that is true from my perspective.
So I must NOT be a (D)? Right.

Discuss the Pence Plan.
I'm open for negotiations.
Discuss the negotiations.

It's discourse dude,
Discuss the possible Pence Plan.

Its already going broke and you don't want to fix it so it will be solvent for years to come.... why? because its a good campaign slogan?....

 

[Winco]

I was in no way denying the Pence Plan.
I what more Info.

I've put in $145 K of my own money, plus the same from my employer, which IS already in the system.

So How much of a buy out should I be given. Of MY money.
Include Interest or NOT.

Depends on the Pence Plan.
He wants to PAY ME OUT Today.....Depends on the amount.
He wants to sunset me into a payment plan.....Depends on the Amount.
He wants to end it.......Fuck MP and All (R), UNLESS he PAYS me my fair share.

 

[MarathonMike]

I was in no way denying the Pence Plan.
I what more Info.

I've put in $145 K of my own money, plus the same from my employer, which IS already in the system.

So How much of a buy out should I be given. Of MY money.
Include Interest or NOT.

Buyout? I'm honestly confused about what you are asking. You should get exactly what the 90 year old Social Security system guaranteed you when you began your contributions. I have not heard of a "buyout" option.

 

[Lakhota]

Social Security is an insurance program.

 

[Winco]

Its already going broke and you don't want to fix it so it will be solvent for years to come.... why? because its a good campaign slogan?....

Your ignorance POSTED that twice, and you couldn't be farther from the truth.

Why would I want SS to fail?
I want to discuss the Pence Plan.

 

[Winco]

Buyout?

I'm honestly confused about what you are asking.

Because you are not thinking.

I should get back the $145,000 I put in.
Are you denying this^^^^^.

 

[MarathonMike]

Because you are not thinking.

I should get back the $145,000 I put in.
Are you denying this^^^^^.

Of course not! Just be clear about what you are saying. Are you assuming "privatize" mean complete buyout of the money you put in? I expect anyone who paid into the system as long as you or I have at least get back what they put in plus more to account for interest not paid.

 

[Winco]

Of course not! Just be clear about what you are saying. Are you assuming "privatize" mean complete buyout of the money you put in? I expect anyone who paid into the system as long as you or I have at least get back what they put in plus more to account for interest not paid.

Question is....... And this what TOTALLY about what Pence is Proposing.

Me: 145K
Employer : 145 K

Is my Buyout 145K or 290K?

IF the Gov is going to buy me out, then why SHOULD they collect the Employer = contribution.

 

[MarathonMike]

Question is....... And this what TOTALLY about what Pence is Proposing.

Me: 145K
Employer : 145 K

Is my Buyout 145K or 290K?

IF the Gov is going to buy me out, then why SHOULD they collect the Employer = contribution.

Ok if we are speculating that is the case, my 2 cents is you should get the employer contribution as well to account for the lack of interest paid over all those years. But it sounds to me that what is being kicked around is an OPTION to privatize or stay with the old plan. It's all just spitballing now anyway.

 

[Rambunctious]

Your ignorance POSTED that twice, and you couldn't be farther from the truth.

Why would I want SS to fail?
I want to discuss the Pence Plan.

SS and Medicare have 7 years until they both are bankrupt.... you can't keep squeezing blood from a turnup.....
So do you want to fix it or use it to beat republicans over the head?....

 

[Winco]

Ok if we are speculating that is the case, my 2 cents is you should get the employer contribution as well to account for the lack of interest paid over all those years. But it sounds to me that what is being kicked around is an OPTION to privatize or stay with the old plan. It's all just spitballing now anyway.

I agree, let's see what Pence has to offer.
Privatize with what "%" of my current contribution?

I'm not opposed this Privatization , I just need to KNOW what I'm (WE) are giving up in return.
Is this fair

Rambunctious