There is NO RISK in privatizing SS and investing in stock market!!!

[bripat9643]

And you can factor in stocks going back up, and factor stocks having been bought for cheaper in the years leading up to the crash, blah blah bottom line someone with a diversified portfolio probably didn't lose most of their money in the dotcom crash or great recession.


You can't prove I'm not an astronaut who sings operas and once beat up Chuck Norris, which is about the same likelihood of you being the megamillionaire you constantly boast about.

A loss, is a loss, is a loss. You may re-coop the lost monies, but you'll NEVER re-coop the lost revenue from investing the lost monies. This is why I'm a multimillionaire, and you're not an astronaut who sings operas and once beat up Chuck Norris

I'm the queen of England.

Prove I'm not.

 

[NYcarbineer]

If you didn't cash out your stocks, then your 401K would be worth considerably more than it was in 2007. It would definitely be worth a lot more than your SS account, which is worth exactly zero.

Your social security check this month was zero?

How much money is in your Social Security "account."

The SS account is over 2 trillion dollars.

 

[healthmyths]

If you didn't cash out your stocks, then your 401K would be worth considerably more than it was in 2007. It would definitely be worth a lot more than your SS account, which is worth exactly zero.

Your social security check this month was zero?

How much money is in your Social Security "account."

The SS account is over 2 trillion dollars.

FACT...
Please check out the Trustees report:
Government Revenue Details: Federal State Local for 2008 - Charts
Social Security’s total expenditures have exceeded non-interest income of its combined trust funds since 2010, and the Trustees estimate that Social Security cost will exceed non-interest income throughout the 75-year projection period. The deficit of non-interest income relative to cost was about $49 billion in 2010, $45 billion in 2011, and $55 billion in 2012.
The Trustees project that this cash-flow deficit will average about $75 billion between 2013 and 2018 before rising steeply as income growth slows to the sustainable trend rate after the economic recovery is complete and the number of beneficiaries continues to grow at a substantially faster rate than the number of covered workers. Redemption of trust fund asset reserves by the General Fund of the Treasury will provide the resources needed to offset Social Security’s annual aggregate cash-flow deficits.

The Trustees project that the combined trust fund asset reserves at the beginning of each year will exceed that year's projected costs through 2027.
For the seventh consecutive year, the Social Security Act requires that the Trustees issue a “Medicare funding warning” because projected non-dedicated sources of revenues—primarily general revenues—are expected to continue to account for more than 45 percent of Medicare’s outlays in 2013, a threshold
breached for the first time in fiscal year 2010.

Just in case YOU can't comprehend what the above means..

A) Outgoing SS checks amounts ARE GREATER then SS payments coming in.
In simpler terms... More money going out then coming in... Since 2010!!!
B) To make up the difference between spending more then revenue coming in,
SS has been taking money from the US TREASURY by cashing in Treasury bonds.

C) Finally Medicare GENERAL TAX Receipts pay 45% of all Medicare outlays in 2013 the 7th consecutive year Congress has been WARNED MORE MONEY going out then coming in!

Can't continue that way folks!!

 

[Listening]

This all or nothing conversation makes me laugh.

As much as I think Social Security is a bad deal, I'd be satisfied (temporarily) to see them move to a point where they considered your money.....to be your money. Just open me a government account and provide me with statements.

If we had done that in the past, most seniors today would realize that past about 12 years of S.S., they are living on welfare.

 

[Listening]

I also can't prove that bigfoot doesn't exist.

Why would you want too?

So that we'd know for sure you are the biggest dumbass on the planet.

 

[Jarlaxle]

Yeah. Before Social Security, no one went into old age without a solid nest egg or pension.

Oh, wait...

before social security, more than half of all elderly lived below the poverty line.

funny how the people most in danger of living below the poverty line are the ones who repeat the rightwingnut lies

If you rely on Social Security, I have news for you: you are probably below the poverty line!

 

[Jarlaxle]

For those of you that think privatizing social security is a good idea, may I present to you a blast from the past?

How Did Your 401(k) Really Stack Up in 2008? - US News

If you didn't cash out your stocks, then your 401K would be worth considerably more than it was in 2007. It would definitely be worth a lot more than your SS account, which is worth exactly zero.

Spot on. My 401k has recovered fine! (IIRC, it's worth about 3x what it was in 2007.)

 

[Jarlaxle]

The point of the bill was to allow investment professionals to fleece Americans, privatizing their profit while socializing the risk and damage.

No matter how many times you post that, Fakey, it is STILL A LIE!

 

[Dot Com]

The criminality on wall st showed us, in vivid detail, that they are NOT looking out for the investor's interests. Anyone remember the term "rip their faces off"? I wouldn't trust them to walk my dog.

Why I Am Leaving Goldman Sachs

To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for.[\QUOTE]

 

[Jarlaxle]

you people think you are oh so smart. lol. that's funny. you are smart enough to play texas holdem with the very very short stack every time. pump and dump is name of the big boys game and they take turns winning so you think they aren't working together. lol. your pride is your ignorance. truly you are not as smart as you all think you are. you think you are winning? lol. funny. you are funny silly people.

I'm sorry...exactly what kind of drugs do I need to take in order for this word salad to make any kind of sense?

 

[SteadyMercury]

This is why I'm a multimillionaire

Of course you aren't, and I bet not one person on these forums believes you are. Screaming it over and over like you do, might as well just stencil "I have self-esteem issues" on your forehead.

 

[Jarlaxle]

He's the forum Walter Mitty, he specializes in being a pretend business executive.

Walter Mitty was a fictional character. I'm very real.

Yer as real as Menzoberranzan, dude.

 

[NYcarbineer]

If you didn't cash out your stocks, then your 401K would be worth considerably more than it was in 2007. It would definitely be worth a lot more than your SS account, which is worth exactly zero.

Your social security check this month was zero?

How much money is in your Social Security "account."

The SS account is over 2 trillion dollars.

FACT...
Please check out the Trustees report:
Government Revenue Details: Federal State Local for 2008 - Charts
Social Security’s total expenditures have exceeded non-interest income of its combined trust funds since 2010, and the Trustees estimate that Social Security cost will exceed non-interest income throughout the 75-year projection period. The deficit of non-interest income relative to cost was about $49 billion in 2010, $45 billion in 2011, and $55 billion in 2012.
Just in case YOU can't comprehend what the above means..

A) Outgoing SS checks amounts ARE GREATER then SS payments coming in.
In simpler terms... More money going out then coming in... Since 2010!!!
B) To make up the difference between spending more then revenue coming in,
SS has been taking money from the US TREASURY by cashing in Treasury bonds.

Can't continue that way folks!!

No, that's not what that means. You're an idiot. They excluded interest income when they referred to non-interest income being exceeded. The whole point of investing the Trust Fund is to earn interest.

The balance of the Trust Fund actually INCREASED in 2010, 2011, 2012, and 2013. How could we be depleting SS if the Trust Fund keeps getting larger?

 

[Toro]

Most people flat out can't manage their money. Over the past 30 years, most people would have been better in SS than managing their own mutual funds. There was article about how bad investors are in the wsj this morning.

 

[healthmyths]

If you didn't cash out your stocks, then your 401K would be worth considerably more than it was in 2007. It would definitely be worth a lot more than your SS account, which is worth exactly zero.

Your social security check this month was zero?

How much money is in your Social Security "account."

The SS account is over 2 trillion dollars.

FACT...
Please check out the Trustees report:
Government Revenue Details: Federal State Local for 2008 - Charts
Social Security’s total expenditures have exceeded non-interest income of its combined trust funds since 2010, and the Trustees estimate that Social Security cost will exceed non-interest income throughout the 75-year projection period. The deficit of non-interest income relative to cost was about $49 billion in 2010, $45 billion in 2011, and $55 billion in 2012.
Just in case YOU can't comprehend what the above means..

A) Outgoing SS checks amounts ARE GREATER then SS payments coming in.
In simpler terms... More money going out then coming in... Since 2010!!!
B) To make up the difference between spending more then revenue coming in,
SS has been taking money from the US TREASURY by cashing in Treasury bonds.

Can't continue that way folks!!

No, that's not what that means. You're an idiot. They excluded interest income when they referred to non-interest income being exceeded. The whole point of investing the Trust Fund is to earn interest.

The balance of the Trust Fund actually INCREASED in 2010, 2011, 2012, and 2013. How could we be depleting SS if the Trust Fund keeps getting larger?

According to official estimates, the program’s trust fund will run out of money either in 2031 or 2033. Although these estimates are subject to some uncertainty, the CBO is 95 percent certain the trust fund will run out within a quarter century. At that point, all beneficiaries will face an immediate 23 percent across-the-board benefit cut regardless of age, income or status.
Setting the Record Straight on Social Security | Committee for a Responsible Federal Budget


So when they SS trustees say that there is MORE money going out then coming in to me that means
to make up the difference, who is paying??? Our children and their children as we keep borrowing
to pay today the difference that payments coming in don't cover.
Another point you seemingly totally are ignorant of is this:
YOU IDIOT::: When SS was set up in 1935 the life span was 59.9 years for the average male!
Life expectancy in the USA, 1900-98
BUT SS retirement was set up to begin making payments when a person became 65!
IDIOT today the average male lives to age 73!!
So the solution is simple!
Make the retirement age of any one under age 55 at age 68!

But of course ALL of this goes WAY WAY over your head!
Actuarial facts are more people are retiring and living longer!
And the number of people paying in is now 156,000,000 ...
The number of retired people getting SS payments: All beneficiaries 63,739,000
This works out to 2.45 people working for every one person getting SS payments:
Social Security Online - HISTORY
In 1940 159.4 people worked to support one person SS payments
1950 ratio was 16.5 people worked
1960 ration was 5.1 people
2000 ratio was 3.4
2010 ratio was 2.9
2013 ratio 2.45 working for every one person in retirement...

Summary, costs for both programs increase substantially through 2035 when measured this way because:
(1) the number of beneficiaries rises rapidly as the baby-boom generation retires; and
(2) the lower birth rates that have persisted since the baby boom cause slower growth of the labor force and GDP. Social Security’s projected annual cost increases to about 6.2 percent of GDP by 2035, declines to 6.0 percent by 2050, and remains between 6.0 and 6.2 percent of GDP through 2087. Under current law, projected Medicare cost rises to 5.6 percent of GDP by 2035, largely due to the rapid growth in the number of beneficiaries, and then to 6.5 percent in 2087, with growth in health care cost per beneficiary becoming the larger factor later in the valuation period.
http://www.ssa.gov/history/pdf/tr13summary.pdf
But of course this GOES WAY WAY OVER YOUR head!!!

 

[JakeStarkey]

No matter how many times you post that, Fakey, it is STILL A LIE!

The American public was on to Bush shortly after the second election, and the SS privatization criminal heist plan and the Katrina reesponse signal the loss of traction in the Bush administration.

Tough to be a far right drone like you, Jarl.

 

[JakeStarkey]

SS issues are easily solvable with easy fixes.

Just keep far right hands off of it.

 

[NYcarbineer]

If you didn't cash out your stocks, then your 401K would be worth considerably more than it was in 2007. It would definitely be worth a lot more than your SS account, which is worth exactly zero.

Your social security check this month was zero?

How much money is in your Social Security "account."

The SS account is over 2 trillion dollars.

FACT...
Please check out the Trustees report:
Government Revenue Details: Federal State Local for 2008 - Charts
Social Security’s total expenditures have exceeded non-interest income of its combined trust funds since 2010, and the Trustees estimate that Social Security cost will exceed non-interest income throughout the 75-year projection period. The deficit of non-interest income relative to cost was about $49 billion in 2010, $45 billion in 2011, and $55 billion in 2012.
Just in case YOU can't comprehend what the above means..

A) Outgoing SS checks amounts ARE GREATER then SS payments coming in.
In simpler terms... More money going out then coming in... Since 2010!!!
B) To make up the difference between spending more then revenue coming in,
SS has been taking money from the US TREASURY by cashing in Treasury bonds.

Can't continue that way folks!!

No, that's not what that means. You're an idiot. They excluded interest income when they referred to non-interest income being exceeded. The whole point of investing the Trust Fund is to earn interest.

The balance of the Trust Fund actually INCREASED in 2010, 2011, 2012, and 2013. How could we be depleting SS if the Trust Fund keeps getting larger?

According to official estimates, the program’s trust fund will run out of money either in 2031 or 2033. Although these estimates are subject to some uncertainty, the CBO is 95 percent certain the trust fund will run out within a quarter century. At that point, all beneficiaries will face an immediate 23 percent across-the-board benefit cut regardless of age, income or status.
Setting the Record Straight on Social Security | Committee for a Responsible Federal Budget


So when they SS trustees say that there is MORE money going out then coming in to me that means
to make up the difference, who is paying??? Our children and their children as we keep borrowing
to pay today the difference that payments coming in don't cover.
Another point you seemingly totally are ignorant of is this:
YOU IDIOT::: When SS was set up in 1935 the life span was 59.9 years for the average male!
Life expectancy in the USA, 1900-98
BUT SS retirement was set up to begin making payments when a person became 65!
IDIOT today the average male lives to age 73!!
So the solution is simple!
Make the retirement age of any one under age 55 at age 68!

But of course ALL of this goes WAY WAY over your head!
Actuarial facts are more people are retiring and living longer!
And the number of people paying in is now 156,000,000 ...
The number of retired people getting SS payments: All beneficiaries 63,739,000
This works out to 2.45 people working for every one person getting SS payments:
Social Security Online - HISTORY
In 1940 159.4 people worked to support one person SS payments
1950 ratio was 16.5 people worked
1960 ration was 5.1 people
2000 ratio was 3.4
2010 ratio was 2.9
2013 ratio 2.45 working for every one person in retirement...

Summary, costs for both programs increase substantially through 2035 when measured this way because:
(1) the number of beneficiaries rises rapidly as the baby-boom generation retires; and
(2) the lower birth rates that have persisted since the baby boom cause slower growth of the labor force and GDP. Social Security’s projected annual cost increases to about 6.2 percent of GDP by 2035, declines to 6.0 percent by 2050, and remains between 6.0 and 6.2 percent of GDP through 2087. Under current law, projected Medicare cost rises to 5.6 percent of GDP by 2035, largely due to the rapid growth in the number of beneficiaries, and then to 6.5 percent in 2087, with growth in health care cost per beneficiary becoming the larger factor later in the valuation period.
http://www.ssa.gov/history/pdf/tr13summary.pdf
But of course this GOES WAY WAY OVER YOUR head!!!

You need to admit you were wrong.

 

[Vandalshandle]

Healthmyths is the single biggest source of financial misinformation on this entire board. I don't just mean this thread. I mean ALL of them. Fortunately, nobody actually follows his advice.

CLU, ChFC. LOMA, HIAA

 

[g5000]

It would give me no end of pleasure to to see the kind of credulous rubes who believe the DHS and the Army are going to round us all up and put us into FEMA camps buy their investment products from fly-by-night operators and end up as brokedick deadbeats at age 65.

It would be hilarious!

The kind of people who chug the piss straight from the cocks of the Washington Times, Daily Caller, Infowars, and Fox News would be raw meat to fraudsters, con men, and bucket shops. They would be chewed up and spit out, and come back begging for more.