Social Security won't be able to pay full benefits by 2034, a year earlier than expected due to the pandemic

[Richard-H]

Theft has a very simple definition: taking something from somebody else that they own. Government doesn't own money. It doesn't have money. It derives ALL of it's money from taxpaying citizens that do make money.

Nonsense. The government issues federal dollars. U.S. currency is OWNED by the federal government. It's the government's note saying that the bearing is recognized by the government to have purchasing power up to the indicated amount. It's value is based on the finacial stability of the federal goverment.

Without the federal government the money you have is worth nothing.

Have a look at a dollar bill. Whose picture is on it? Who issued it? Whose signature makes it valid?

Geez, sometimes you're soooo stupid!

 

[Concerned American]

Congress does nothing to address the program's long-term funding shortfall,

Congress has acted, they released covid on the most vulnerable populations--the majority of covid fatalities have been those of SS age. Simple, kill off the recipients and you save SS. How far away can soylent green be?

 

[Concerned American]

Nonsense. The government issues federal dollars. U.S. currency is OWNED by the federal government. It's the government's note saying that the bearing is recognized by the government to have purchasing power up to the indicated amount. It's value is based on the finacial stability of the federal goverment.

Without the federal government the money you have is worth nothing.

Have a look at a dollar bill. Whose picture is on it? Who issued it? Whose signature makes it valid?

Geez, sometimes you're soooo stupid!

STFU, your moronic reasoning requires no further comment.

 

[Ray From Cleveland]

Nonsense. The government issues federal dollars. U.S. currency is OWNED by the federal government. It's the government's note saying that the bearing is recognized by the government to have purchasing power up to the indicated amount. It's value is based on the finacial stability of the federal goverment.

Without the federal government the money you have is worth nothing.

Have a look at a dollar bill. Whose picture is on it? Who issued it? Whose signature makes it valid?

Geez, sometimes you're soooo stupid!

The government only prints the bills, but they have no value unless we work for it to make it worth anything. That's why when government prints new additional money, it decreases the value of the dollar because there is nothing behind those dollars. They are simply paper that represents what we earned.

But even if government kept all the new money it printed, it's absolutely worthless, therefore government has no real money of it's own. This is because the government doesn't sell any product or service for profit to make it worth anything.

 

[Concerned American]

What......no mention of a 'ponzi scheme' yet?

If SS didn't exist, the elderly would be screwed EVEN more than how (R) have already screwed them.

Democrats/Johnson added SS to the general fund in the 60s effectively raiding the fund.

 

[Concerned American]

The government only prints the bills, but they have no value unless we work for it to make it worth anything. That's why when government prints new additional money, it decreases the value of the dollar because there is nothing behind those dollars. They are simply paper that represents what we earned.

But even if government kept all the new money it printed, it's absolutely worthless, therefore government has no real money of it's own. This is because the government doesn't sell any product or service for profit to make it worth anything.

Based on GDP.

 

[Ray From Cleveland]

Democrats/Johnson added SS to the general fund in the 60s effectively raiding the fund.

Which is why the program is in trouble today.

SS (or the general fund) is nothing but a set of mattresses money gets tucked between until we need it. It gains no interest and can't since it's never invested and as you said, part of the general fund.

If all along that money was it's own distinguished account, it would have been invested in a very safe conservative growth fund, and we'd have enough to make it last until the next century, especially given the market success over the last ten years.

 

[Richard-H]

STFU, your moronic reasoning requires no further comment.

It's a free country...remain delusional if you'd like.

 

[Concerned American]

It's a free country...remain delusional if you'd like.

You haven't a clue how world finance works. The US dollar's value is based on the production of the citizen's of the US and has been since Nixon took us off of the gold standard. Study, it will save you from your ignorance.

 

[Richard-H]

The government only prints the bills, but they have no value unless we work for it to make it worth anything. That's why when government prints new additional money, it decreases the value of the dollar because there is nothing behind those dollars. They are simply paper that represents what we earned.

But even if government kept all the new money it printed, it's absolutely worthless, therefore government has no real money of it's own. This is because the government doesn't sell any product or service for profit to make it worth anything.

Yes, productivity is what gives the money value, but it's ultimately, the government's notes.

If it were true that U.S. government printing money caused the value of the dollar to drop, then the dollar would have been worthless long ago. That's the nice thing about being the world's currency reserve - you can print all the money you want.

Bank's create more money out of thin air than the government does. They loan out way more than they actually have. For as long as the loans payback - it works.

The creation of money is just the issuance of authority to active resources. The activated resources produce, which gives the money issued it's value.

BTW - The government does produce. It builds infrastructure and provides valuable service like security. It's also responsible for almost all the innovative technology since WWII (like the internet).

 

[Richard-H]

You haven't a clue how world finance works. The US dollar's value is based on the production of the citizen's of the US and has been since Nixon took us off of the gold standard. Study, it will save you from your ignorance.

Yes, it's productivity that gives U.S. dollars it's value, but it's still the government's currency. It's people's faith in the government that is required for it to have any value as well.

But feel free to print your own notes...and see how that goes for ya!

 

[Ray From Cleveland]

Yes, productivity is what gives the money value, but it's ultimately, the government's notes.

If it were true that U.S. government printing money caused the value of the dollar to drop, then the dollar would have been worthless long ago. That's the nice thing about being the world's currency reserve - you can print all the money you want.

Bank's create more money out of thin air than the government does. They loan out way more than they actually have. For as long as the loans payback - it works.

The creation of money is just the issuance of authority to active resources. The activated resources produce, which gives the money issued it's value.

BTW - The government does produce. It builds infrastructure and provides valuable service like security. It's also responsible for almost all the innovative technology since WWII (like the internet).

So how much profit does government make building roads and infrastructure? Zero. In fact the only reason jobs are provided is because taxpayers pay the workers and material in which to create infrastructure.

The US dollar does lose value when the government prints new additional money. This is not to be confused with new money to replace tired worn bills. I spent several years in the commodities market and understand all this. Internationally, when our dollar is worth less, it technically takes more US dollars to buy things. This creates inflation much like we're seeing today.

 

[Richard-H]

So how much profit does government make building roads and infrastructure? Zero. In fact the only reason jobs are provided is because taxpayers pay the workers and material in which to create infrastructure.

The US dollar does lose value when the government prints new additional money. This is not to be confused with new money to replace tired worn bills. I spent several years in the commodities market and understand all this. Internationally, when our dollar is worth less, it technically takes more US dollars to buy things. This creates inflation much like we're seeing today.

There are lot's of factors in the relative values of currency.

The taxpayers are only part of what the government spends. Have you ever heard of the government deficit?

The government, like the banks, creates money out of thin air, invests in valuable projects (and some that are not so valuable). It creates wealth by enabling the American people to be productive.

But all that does change the fact the U.S. currency is owned by the U.S. government.

If it were truly yours, you'd be allowed to destroy it, but you can't because it's the government's property.

 

[kyzr]

The problem with you people is every time there is a problem, the "real" fix to you is make other people pay for it.

If you want to keep the program, YOU contribute more to the program to fix it.

DUH, we PAID for it. Thanks for playing.

 

[Ray From Cleveland]

DUH, we PAID for it. Thanks for playing.

Yes, we did pay for it and not enough, that's why it's going broke. Since we use it or are going to use it, the solution is to pay enough so it won't go broke.

 

[Ray From Cleveland]

If it were truly yours, you'd be allowed to destroy it, but you can't because it's the government's property.

It is truly yours which is why government can't take it, hence bill and coin collectors. You keep that currency all of your life and even will it to family members when you die, If government actually owned that currency, they could force you to give it back to them at will.

 

[gipper]

No, what I want is a large enough contribution percentage increase from the people who are going to benefit from the program so it will be funded when they get older.

Yeah. You want money from people who don’t have any. Fuck those losers. Right?

 

[Ray From Cleveland]

Yeah. You want money from people who don’t have any. Fuck those losers. Right?

What do you mean don't have any. They're working otherwise would not be contributing, and they are contributing at the current rate because they are working.

 

[g5000]

We should be working less not longer, increase income level subject to ss tax. It stops at 137,000.00 now, fixed

You are lazy. We are living longer, we should be working longer.

What, you think when life expectancy climbs to 100, we should spend a third of our lives on Social Security??!?

 

[g5000]

Yeah, I've watched those jokers on TV making the same claim. Working until 70 is okay when the heaviest thing you have to lift is the mic to clip to your shirt and the earpiece on your ear. But at the age of 63, try spending the day carrying 50 lbs of roof shingles on your shoulders up three stores on a ladder when it's 85 degrees outside with 70% humidity. Or try carrying clamps of bricks to where the bricklayer is laying the brick all day. Maybe being a plumber that has to squeeze into a crawl space to install drain tubes in an old house. Hell, I'll even use my former career as an example. When it's a snow storm where visibility is very limited, do you want to be the guy in the smart car in front of me when I have to bring that 75,000 tractor-trailer to a complete safe stop at the age of 69????

There are a lot of jobs people can barely make it to 65 or 67 years old as it is. I have two cousins, each has their own remodeling business. My one cousin barely made it to retirement after multiple surgeries due to working. My other cousin is still working, but hired people to do the hard labor because he simply can't do it any longer. Their bodies were shot from working years before retirement.

When Social Security was enacted, blue collar workers had a hard time living to 65. Even moreso than now.

The average blue collar worker is in far better health than they were a hundred years ago. And they don't have to dig ditches by hand.

As for truck drivers, there are 80 year olds who are doing that job. My son is a truck driver.

On the flip side, I also believe a 30 hour work week is inevitable.