Some Inconvenient Facts About Social Security

[Toddsterpatriot]

all true, and would be true today if the democrats under LBJ had not robbed the SS fund and merged it with the general fund. That democrat action is why we have a SS problem today. That and only that. So maybe its time for you to rethink your blind obedience to the dem party before they screw you again.

all true, and would be true today if the democrats under LBJ had not robbed the SS fund and merged it with the general fund.

Before that, the Fund invested in Treasuries.
After that, the Fund invested in Treasuries.

The accounting change didn't make any difference.

 

[BluesLegend]

The Government is taking the money I am paying in now to fund the payments to those that are collect SS.

"A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors." Wikipedia

Correct. Government has already spent every last dime of MY Social Security money. Plus borrowed and spent another $30 trillion holy crap!

 

[BluesLegend]

As opposed to your employer?
I trust my employer to take care of me in my old age

My employer plans are heavily regulated and monitored fool.

 

[rightwinger]

My employer plans are heavily regulated and monitored fool.

Your employer is only concerned with profit
Why do you trust them with your healthcare and retirement?

 

[Hutch Starskey]

SS is designed to keep people poor.

There is no doubt about it.

The last thing the government wants is a population with a high percentage of financially independent citizens.

How so?

 

[Hutch Starskey]

So we should believe it's nothing but good for everyone?

We can never change it so it actually allows people to achieve financial independence?

No one is forced to depend solely on SS.

 

[BluesLegend]

Your employer is only concerned with profit
Why do you trust them with your healthcare and retirement?

Why do you lie?

 

[rightwinger]

Why do you lie?

?

 

[Blues Man]

Again, Social Security is a done deal

We cannot walk away from it and tell those who are retired or near retirement….Too bad for you, we changed our mind

In planning your retirement, you have to look at SS as well as other investments to carry you through

Again so what

There's nothing to say we can't make changes to it

And SS is NOT an investment it is actually the theft of future wealth. But like I said that last thing the fucking government wants is for people to be financially secure

 

[Blues Man]

How so?

Take that 12.4 % of your lifetime income and then see what it would have grown into if it was put in an S&P indexed fund

Social Security Calculator | Privatization account vs. S&P 500

Social Security Calculator comparing value of a private account vs. the S&P 500. Based on median income of all workers, but user can enter custom values.

www.crystalbull.com

 

[Blues Man]

No one is forced to depend solely on SS.

In fact they are since it takes such a large portion of their lifetime income.

 

[rightwinger]

Again so what

There's nothing to say we can't make changes to it

And SS is NOT an investment it is actually the theft of future wealth. But like I said that last thing the fucking government wants is for people to be financially secure

OK
Your turn, what changes do you propose?

 

[Blues Man]

OK
Your turn, what changes do you propose?

Let people own their own accounts so they can actually attain a real measure of welth and not be forced to survive on a fraction of what they could

Social Security Calculator | Privatization account vs. S&P 500

Social Security Calculator comparing value of a private account vs. the S&P 500. Based on median income of all workers, but user can enter custom values.

www.crystalbull.com

 

[Nova78]

++++++++++++++++

Will SS be fiscally viable with a shrinking workforce?

With millions flowing across the border, the workforce will grow,

 

[Blues Man]

It boggles the mind how you people can trust the government with your money just look at the promise that was made when Social Security was enacted

"You and your employer will each pay 3 cents on each dollar you earn, up to $3,000 a year. That is the most you will ever pay". Promises of the Social Security Act | ISC 9

Of course, that promise was not kept.

Why wasn't that promise kept? Could it be that the corrupt politicians saw an easily plundered source of money to be used for whatever they wanted all while lying to the public that is was for their own good?

 

[rightwinger]

Let people own their own accounts so they can actually attain a real measure of welth and not be forced to survive on a fraction of what they could

Social Security Calculator | Privatization account vs. S&P 500

Social Security Calculator comparing value of a private account vs. the S&P 500. Based on median income of all workers, but user can enter custom values.

www.crystalbull.com

OK
Now, what do you do with the hundred million already retired or close to retirement?

Too bad for you, we changed or mind

If you want to own your account, get a 401k

 

[Blues Man]

OK
Now, what do you do with the hundred million already retired or close to retirement?

Too bad for you, we changed or mind

If you want to own your account, get a 401k

You suck it up and keep the promise Maybe we should actually hold out corrupt politicians to their promises like the one they made when they said SS would never be more than 3 cents on the dollar up to $3000 max from you and your employer.

And why do you ignore the fact that 12.4 % of your income is such a substantial amount of money that it actually prevents a lot of people from saving in an IRA or a 401k?

Why do you ignore the fact that the government is robbing people of actual wealth that can be left to their heirs thereby ending the cycle of working paycheck to paycheck for many millions of people?

Why does the government not want people to achieve this level of financial stability?

Because it would rob them of their power over people that's why.

 

[Blues Man]

With a private account, the median income earner would retire at age 67 with over $4 million dollars in their account, even after accounting for the crash of '87, the dot-com bust, the crash of 2008, etc. At 4% interest, the person could withdraw $14,000 per month for the rest of their life, and leave the entire $4,190,471.60 to their heirs, ending the cycle of poverty. With Social Security, what will they get? The average is $1,626 per month. And when they die, the account is lost. A working spouse would also have an account, so a couple could retire with an annual income over $300,000 per year, even more than what they ever earned while working! Instead, Social Security is keeping the American worker in poverty at retirement.

Social Security Calculator | Privatization account vs. S&P 500

Social Security Calculator comparing value of a private account vs. the S&P 500. Based on median income of all workers, but user can enter custom values.

www.crystalbull.com

 

[initforme]

Will SS be fiscally viable with a shrinking workforce?

The workforce is growing exponentially. Fact.

 

[rightwinger]

You suck it up and keep the promise Maybe we should actually hold out corrupt politicians to their promises like the one they made when they said SS would never be more than 3 cents on the dollar up to $3000 max from you and your employer.

And why do you ignore the fact that 12.4 % of your income is such a substantial amount of money that it actually prevents a lot of people from saving in an IRA or a 401k?

Why do you ignore the fact that the government is robbing people of actual wealth that can be left to their heirs thereby ending the cycle of working paycheck to paycheck for many millions of people?

Why does the government not want people to achieve this level of financial stability?

Because it would rob them of their power over people that's why.

The fact is, SS works and has been solvent for 80 years
It is a vital component of most peoples retirement plans

Before SS, few people retired. They worked till they died or relied on their children for support.

If we had a chance to do it over, could we make it better?
Probably yes. But this is the plan we are stuck with