Republicans should propose to phase out SS and replace it with this proven plan.

[Marener]

Why?

Because you’re going to need a transition plan if you want to change social security.

 

[lennypartiv]

Republicans should propose to phase out SS and replace it with this proven plan.​

Yes, but there are too many RINOs for it to pass.

 

[Nostra]

Count on Nostra to latch onto an apples and oranges idea. This plan was limited to COUNTY EMPLOYEES. So our have to be a lifelong employee of the county to benefit.

This is no different than a private pension plan except it has municipal backing and access to tax dollars to cover fraud and economic collapses. And as we’ve seen with private pension plans, if the company is sold, goes bankrupt or is subject to fraud, the money is gone and the workers have nothing.

Giving municipal workers access to millions of dollars is a classically bad idea. The worst corruption and theft from the public purse takes place at the local levels of politics, the county, or the state. This is where the lowest paid public officials work, and they are the ones who are most easily seduced by bribery or extortion.

You are a moron who didn’t grasp the plan.

If this plan replaced SS on a national level it would carry over to any job, you blithering idiot.

You have no clue on any topic you chime in on. Go fix your shithole country you KKKanadian fuckwit.

 

[Nostra]

That’s because YOU can afford it. For the more than 40% of American workers who have no savings or 401Ks, they’re going to need that guaranteed income down the road.

95% of the general public don’t have enough money to retire on. That’s WHY SS and Medicare were created in the FIRST place.

Got any links to your data?

WTF am I talking about……this Halfwit NEVER has anything to back up her dumbassery and lies.

Right Dragonlady

 

[Nostra]

Because you’re going to need a transition plan if you want to change social security.

Ok, for shirts and grins how about this:

Anyone between 40-50 years of age can decide to stay in SS or go with this plan. Anyone under 40 is enrolled automatically in this much better plan.

Take the $2.7 trillion you clowns claim is in a SS trust fund, actually make the Govt turn it into cash to pay current retirees and anyone between 40-50 who decide to stay with SS.

Then go thru the budget and shitcan waste and bullshit spending to transfer it to pay SS for the next 40-50 years until all those folks die off.

Problem solved.

And befor any of you idiots say “What would you cut’…just give me a few days to go thru the budget and I could easily eliminate enough waste to more than cover what we would need.

No more money for Ukraine, no more money to study how Trannies are treated in Afghanistan, no more paying for illegals to stay in Four Star Hotels……

This shit would be easy.

 

[Admiral Rockwell Tory]

Sure it does. Current retirees are paid from THEIR funds accumulated over their career.

In other words, it is a 401K.

 

[Admiral Rockwell Tory]

I’m talking about the plan in the OP being a replacement for SS.

I never claimed the link spelled out a transition plan.

That is because a transition plan simply would not work. That is why you could not spell it out.

 

[Admiral Rockwell Tory]

Ok, for shirts and grins how about this:

Anyone between 40-50 years of age can decide to stay in SS or go with this plan. Anyone under 40 is enrolled automatically in this much better plan.

Take the $2.7 trillion you clowns claim is in a SS trust fund, actually make the Govt turn it into cash to pay current retirees and anyone between 40-50 who decide to stay with SS.

Then go thru the budget and shitcan waste and bullshit spending to transfer it to pay SS for the next 40-50 years until all those folks die off.

Problem solved.

And befor any of you idiots say “What would you cut’…just give me a few days to go thru the budget and I could easily eliminate enough waste to more than cover what we would need.

No more money for Ukraine, no more money to study how Trannies are treated in Afghanistan, no more paying for illegals to stay in Four Star Hotels……

This shit would be easy.

Where do you think the federal government is going to shit out $2.7 trillion?

 

[Marener]

In other words, it is a 401K.

Yes, but it’s a 401k that is completely controlled by some banker you don’t get to choose.

So yeah!

 

[Dragonlady]

You are a moron who didn’t grasp the plan.

If this plan replaced SS on a national level it would carry over to any job, you blithering idiot.

You have no clue on any topic you chime in on. Go fix your shithole country you KKKanadian fuckwit.

I grasped the plan fully. One of the law firms I worked for had a "self-directed" medical insurance plan which worked the same way. They put an amount equal to their medical insurance premium in a trust account and hired an insurance company to administer the claims, and paid out LESS than the insurance premiums. By over $100,000 for a firm with 800 employees. Imagine the savings across the entire industry.

But YOU didn't address any of my concerns, like bankruptcy, or fraud, both of which are serious issues which affect private pensions. The other thing which you didn't address is that the long-time employees benefit from employees who leave before their pensions vest.

What you're suggesting is that the nation return to PRIVATE pension plans, which were an abject failure when I was a child. That why North Americians have government pensions. Because what you're proposing was a complete failure.

 

[Independent thinker]

4 counties in TX opted out of SS before Congress outlawed it. They set up their own system and the results speak for themselves.

Who here would choose SS over this plan?

But the Alternate Plan takes a different approach, one I call a “banking model.” Employee and employer contributions are actively managed by a financial planner—in this case, First Financial Benefits, Inc., of Houston, which both originated the plan and has managed it since inception.

The contributions are pooled, like bank deposits, and top-rated financial institutions bid on the money. Those institutions guarantee an interest rate that won’t go below a base level, and could go higher if the market does well. Over the last decade, the accounts have earned between 3.75 percent and 5.75 percent every year, with an average of around 5 percent. The 1990s often saw even higher interest rates, 6.5 to 7 percent. Thus, when the market goes up, employees make more; and when the market goes down, employees still make something.

Like Social Security, employees contribute 6.2 percent of their income, with the county matching the contribution (Galveston has chosen to provide a slightly larger share). Once the county makes its contribution, its financial obligation is done. So there are no long-term unfunded liabilities.

But not all of that money goes into an employee’s retirement account. When financial planner Rick Gornto devised the Alternate Plan in 1981, he wanted it to be a complete substitute for Social Security. And Social Security isn’t just a retirement fund; it’s social insurance that provides a death benefit—a whopping $255—survivors’ insurance, and a disability benefit.

Part of the employer contribution in the Alternate Plan goes toward a term life insurance policy, which pays four times the employee’s salary tax free, up to a maximum of $215,000. That’s nearly 850 times Social Security’s death benefit.

More importantly, if a worker participating in Social Security dies before retirement, he loses his contribution (though part of that money might go to surviving children, if any, or a spouse who didn’t work and therefore didn’t establish his or her own benefits). But a worker in the Alternate Plan owns his account, so the entire account belongs to the estate. There is also, among other benefits, a disability benefit that pays immediately upon injury, rather than waiting six months, plus other restrictions, as under Social Security.

And those who retire under the Galveston model do much better than Social Security. For example:

• A lower-middle income worker making about $26,000 at retirement would get about $1,007 a month under Social Security, but $1,826 under the Alternate Plan, according to First Financial’s calculations.
• A middle-income worker making $51,200 would get about $1,540 monthly from Social Security, but $3,600 from the banking model.
• And a high-income worker who maxed out on his Social Security contribution every year would receive about $2,500 a month from Social Security vs. $5,000 to $6,000 a month from the Alternate Plan.

What the Alternate Plan has demonstrated over 30 years is that personal retirement accounts work, with many retirees making more than twice what they would have made under Social Security. And that model could work for the roughly 25 percent of public employees—about 6 million people—who are part of state and local government retirement plans. It could also serve as a model for reforming Social Security.

How Three Texas Counties Created Personal Social Security Accounts and Prospered

Three Texas counties opted out of Social Security 30 years ago by switching to personal accounts, and those workers have made money every year.

www.forbes.com

I don't know. I have to admit I would be skeptical of putting banks and financial planners in charge of everyone's money, not that I'm crazy about the government being in charge of it.

 

[Nostra]

Where do you think the federal government is going to shit out $2.7 trillion?

Give me access to where all our money is pissed away and I can come up with that much and more within a few hours, Simp.

 

[Admiral Rockwell Tory]

Give me access to where all our money is pissed away and I can come up with that much and more within a few hours, Simp.

Nope. Once again you want to show how stupid you truly are!

 

[Nostra]

Nope. Once again you want to show how stupid you truly are!

Shitcan Chicom Joe's "infrastructure" pork bill.

There's $1.7 Trillion, Moron.

That took 1 minute.

 

[meaner gene]

Give me access to where all our money is pissed away and I can come up with that much and more within a few hours, Simp.

Nope. Once again you want to show how stupid you truly are!

Everybody proposes balancing the budget by cutting out fraud and waste, and it has NEVER EVER come close.

 

[meaner gene]

Shitcan Chicom Joe's "infrastructure" pork bill.

There's $1.7 Trillion, Moron.

That took 1 minute.

You're an idiot. It also would eliminate the DOD, and several other government agencies.

The legislation includes $772.5 billion for nondefense discretionary programs and $858 billion in defense funding,

It took a minute for you to defund the military.

 

[Hurricanelover]

You republicans just want things to return to the way it was 1,500 years ago. YOu believe anyone that isn't elite should be a slave and should be indebted to your screwed up church.

 

[Nostra]

You're an idiot. It also would eliminate the DOD, and several other government agencies.

The legislation includes $772.5 billion for nondefense discretionary programs and $858 billion in defense funding,

It took a minute for you to defund the military.

So the "infrastructure" bill had nothing to do with infrastructure?

 

[meaner gene]

So the "infrastructure" bill had nothing to do with infrastructure?

It was an omnibus bill that INCLUDED infrastructure.

You have to read the long and the short title.

 

[Nostra]

It was an omnibus bill that INCLUDED infrastructure.

You have to read the long and the short title.

Chicom Joe and the Dimtards called it an "infrastructure bill", Dumbass.