Social Security Will Be Insolvent in 10 Years

[Admiral Rockwell Tory]

SS takes very little from one's paycheck.

Only 12.4% of your income.

Only if you are self-employed.

 

[Admiral Rockwell Tory]

Or, if you die on your 65th birthday, you can leave your grandkids penniless.

Especially since retirement age is now 67. Duh!

 

[sealybobo]

Here's one concern. Did you know that 401K's were supposed to be ON TOP of pensions? They weren't supposed to replace them.

Companies can't afford to pay pensions for 30 or 40 years.

My buddy and I were talking about this last night. His dad died 40 years ago with a Chrysler pension. His mom, probably in her 90's now, is still collecting probably 75% of it. Every month.

But funny companies can afford to pay CEO's 1322% of what they used to. That they can afford?

So let's flip this. Let's say it's not the employees who are being paid too much. How much do Trump's silicon valley tech bros make a year? They are BILLIONAIRES. Well, it turns out China can make what they do better and for less. Perhaps like we shipped those union car jobs overseas, we should consider buying AI from China. Why is silicon valley gouging us? I'll tell you why. Because of the CEO's salaries.

When American companies can pay their CEO's so much more than Chinese CEO's and provide a similar product for a similar price, let me know. Until then, us Americans should not be forced to buy from silicon valley.

Just like you said Honda and Toyota make better cars for less, China now makes better AI than American companies and cheaper.

 

[Toddsterpatriot]

My buddy and I were talking about this last night. His dad died 40 years ago with a Chrysler pension. His mom, probably in her 90's now, is still collecting probably 75% of it. Every month.

But funny companies can afford to pay CEO's 1322% of what they used to. That they can afford?

So let's flip this. Let's say it's not the employees who are being paid too much. How much do Trump's silicon valley tech bros make a year? They are BILLIONAIRES. Well, it turns out China can make what they do better and for less. Perhaps like we shipped those union car jobs overseas, we should consider buying AI from China. Why is silicon valley gouging us? I'll tell you why. Because of the CEO's salaries.

When American companies can pay their CEO's so much more than Chinese CEO's and provide a similar product for a similar price, let me know. Until then, us Americans should not be forced to buy from silicon valley.

Just like you said Honda and Toyota make better cars for less, China now makes better AI than American companies and cheaper.

His mom, probably in her 90's now, is still collecting probably 75% of it. Every month.

That's awesome!

But funny companies can afford to pay CEO's 1322% of what they used to.

Just the top 400 or so.

How much do Trump's silicon valley tech bros make a year? They are BILLIONAIRES.

That's awful! Is that salary from a company? Link?

Perhaps like we shipped those union car jobs overseas, we should consider buying AI from China.

You should definitely do that. Keep me posted.

Until then, us Americans should not be forced to buy from silicon valley.

I agree, you should not be forced to buy AI from Silicon Valley.

 

[sealybobo]

His mom, probably in her 90's now, is still collecting probably 75% of it. Every month.

That's awesome!

But funny companies can afford to pay CEO's 1322% of what they used to.

Just the top 400 or so.

How much do Trump's silicon valley tech bros make a year? They are BILLIONAIRES.

That's awful! Is that salary from a company? Link?

Perhaps like we shipped those union car jobs overseas, we should consider buying AI from China.

You should definitely do that. Keep me posted.

Until then, us Americans should not be forced to buy from silicon valley.

I agree, you should not be forced to buy AI from Silicon Valley.

In fiscal year 2023, Nikesh Arora, the CEO of Palo Alto Networks, earned $151.43 million.
In 2024, Hock Tan the CEO of Broadcom, earned $161.83 million in total compensation.
Base salary, Stock options, Bonuses, Perks, Non-equity incentive payout, and Other compensation.
By company size, base, bonus, and total cash compensation all rise as revenue does, with total median cash compensation coming in at $1,639,000 at companies with revenue above $1 billion. By industry, CEOs at financial services firms are paid the most: $1,013,000 in median total cash compensation.
IBM CEO: DeepSeek proved us right—AI is not about big, proprietary systems

May Mobility CEO: DeepSeek shows it’s time to rethink the ‘biggest budget wins’ mentality​

https://www.cnbc.com/2025/02/01/deepseek-shocked-ai-world-this-week-heres-how-tech-ceos-responded.html

Thanks, China, for giving the world an open source AI & it is FREE !



China is undercutting these Silicon Valley Tech Giants. Just like they did the Big 3. We didn't care about car manufacturing jobs which are the most important jobs. So fuck Silicon Valley. Let the AI version of Honda and Toyota in to the USA!

 

[Toddsterpatriot]

In fiscal year 2023, Nikesh Arora, the CEO of Palo Alto Networks, earned $151.43 million.
In 2024, Hock Tan the CEO of Broadcom, earned $161.83 million in total compensation.

Nikesh is worth a couple of billion, I can't see proof that Hock is a billionaire.

 

[sealybobo]

Nikesh is worth a couple of billion, I can't see proof that Hock is a billionaire.

Maybe he's not yet. But remember Trump had $3 billion now I think he has $65 billion.

Elon now has $400 billion. Last I checked. This is a new guilded age. The $1 million I will have when I retire might not be that much in 6 years.

 

[Toddsterpatriot]

Maybe he's not yet. But remember Trump had $3 billion now I think he has $65 billion.

Elon now has $400 billion. Last I checked. This is a new guilded age. The $1 million I will have when I retire might not be that much in 6 years.

Nikesh exercised a bunch of options, probably vesting since 2018.
He probably gets much less, on average.

 

[80zephyr]

My buddy and I were talking about this last night. His dad died 40 years ago with a Chrysler pension. His mom, probably in her 90's now, is still collecting probably 75% of it. Every month.

But funny companies can afford to pay CEO's 1322% of what they used to. That they can afford?

So let's flip this. Let's say it's not the employees who are being paid too much. How much do Trump's silicon valley tech bros make a year? They are BILLIONAIRES. Well, it turns out China can make what they do better and for less. Perhaps like we shipped those union car jobs overseas, we should consider buying AI from China. Why is silicon valley gouging us? I'll tell you why. Because of the CEO's salaries.

When American companies can pay their CEO's so much more than Chinese CEO's and provide a similar product for a similar price, let me know. Until then, us Americans should not be forced to buy from silicon valley.

Just like you said Honda and Toyota make better cars for less, China now makes better AI than American companies and cheaper.

For better or worse, we are the "world's policeman". If any country can't undercut us when building a product, they simply aren't trying hard enough.

 

[sealybobo]

For better or worse, we are the "world's policeman". If any country can't undercut us when building a product, they simply aren't trying hard enough.

Isolation isn't the answer. Force us to buy it here when we can buy it cheaper and it's better somewhere else. I argued not to send our auto manufacturing jobs overseas because those jobs are vital to a strong middle class the world had never seen before. Do you understand that? The reason America was GREAT was because so many GM, Ford and Chrysler workers were "overpaid". They/That created the biggest fattest best healthiest middle class the world had never ever seen before. And google Ford record profits/profit sharing 1999, 98, 97, 96. There was no down side to unions in the 90's. EXCEPT, companies saw they could make more profits manufacturing in China and Mexico. Thanks Bush. Republicans.

So here we are. Free trade is the way things are. Even Trump admits that. Is it fair trade? I don't know. Seems like Trump is trying to save us a few bucks just to make himself look good. He's fighting fights he should be having in private and making them public. Don't we want stable markets?

This is all theater. And you're all falling for it.

We need immigrants and we need China. Just look at ChatGPT. Piece of shit. But costs $1000. DEEPSEEK is better and they sell it for $5.

We can't decide to fuck auto workers but protect Silicon Valley. They're charging too much and selling us shit. Just like Republicans said Ford and GM were in the 2000's. They loved Toyota and Honda. Well, now I love DEEPSEEK. Fuck Silicon Valley. Those guys can work at McDonalds or drive Trumps garbage truck.

 

[FredVegbarfuss]

SS takes very little from one's paycheck. But the benefits of getting it back are great. If you're pretty well off and don't need the money, you can give to your grandkids and help them pay for college or something equally important.
Or if the universe kicks your butt during retirement, you can use it to help make ends meet.

All of that is above what financial decisions you make before you qualify for SS.

BTW, the US Treasury owes the SS administration about $2 trillion.

See, that reasoning is about if you qualify, which is really different, when it is your money, that you earned, that was not tax, that they took from you, justifying it with claim it can be provided back to you when retired at the older age because you are not responsible enough yourself. That was BS. It can all burn down, we sure can be responsible in better ways than the government over us is, or will be.

I can say we need God. We do not need the state in place of this.

 

[the watcher]

The deferred tax programs like the 401's and others were a very good effort to encourage people to actually help themselves while making sound decisions but requiring a little self-sacrifice and planning for themselves. It helped a lot of people who took the responsible and long term look at their life. But most young people who I knew personally had an instant gratification attitude plus the impression that they had lots of time to do "something", but the people that took advantage were helped a lot. At least until the housing crash and inflation stripped some of it. It's like health care, they think uncle sam will come to their rescue and they can spend their income and borrow some more. So the government has actually tried to get people to save, but it's like herding cats. That's why the government has to keep borrowing money, to keep our asses out of foreclosure. Instead of encouraging savings now, they are manipulating how much interest we should pay to borrow more.

 

[Lisa558]

The deferred tax programs like the 401's and others were a very good effort to encourage people to actually help themselves while making sound decisions but requiring a little self-sacrifice and planning for themselves. It helped a lot of people who took the responsible and long term look at their life. But most young people who I knew personally had an instant gratification attitude plus the impression that they had lots of time to do "something", but the people that took advantage were helped a lot. At least until the housing crash and inflation stripped some of it. It's like health care, they think uncle sam will come to their rescue and they can spend their income and borrow some more. So the government has actually tried to get people to save, but it's like herding cats. That's why the government has to keep borrowing money, to keep our asses out of foreclosure. Instead of encouraging savings now, they are manipulating how much interest we should pay to borrow more.

In my last job, if you contributed a minimum of 2% to the 403b, the company would add another 8%. All you had to do was give up a minor amount of money, and you could be putting away 10% of your salary a year. Many people didn’t do it, and said they needed the 2%. This were the same people who had lunch out every day.