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End Social Security

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jackschmittusa said:
I figure that in 1966, the government and I had entered into a deal. I would pay a portion of my wages and my employer would pay a similar amount (out of its total compensation funds, meaning less for my wages) and the government would pay me a stipend in my retirement years.

I and my employers have carried out our end of the bargain. The government has begun carrying out its end for me.

Lazy? I had to work to get what I have. I did make plans for my retirement, and they included SS as one element of it.

You, on the other hand, would like to disrupt my retirement. I am not sympathetic to your viewpoint.

If you would like to discuss ways to insure it is there for you too, I am happy to do that.
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He isn't interested in discussing reform to the system to keep it sustainable for the future, he is a troll and not a very bright one at that.
As a troll he deserves nothing from us except insults and ridicule.
 
HendrixFan said:
A ponzi scheme is not sustainable. It cannot be. SS is sustainable.
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Given a government with infinite capability to tax or print money, of course it's "sustainable" if your definition is simply that it can continue to exist. Hell, I could make it "sustainable" until infinity if government taxed Social Security benefits at 100%.

I understand that. But when the market crashes like it did in '08 your money gets decimated with no FDIC backing. Even poor performing funds and fees can eat away at returns significantly. The stability and reliability of retirement funds is far more volatile in a 401k or IRA than SS. Yes, Congress can come and pass a law saying they are keeping all the SS money but do you honestly see that happening, ever? The hundreds of millions of people who paid into SS will vote those clowns out immediately.

SS is the ultimate in low risk, low reward. I don't know how you could think any 401k or IRA could have less risk (be more stable or reliable).
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I calculate the Net Present Value of a politician's promise as $0.00. Therefore I could lose 99.99% of my 401K or IRA, and my guaranteed ownership of the remaining 0.01% would still be worth more than a program which only exists at the whims of Congress.
 
CrackRabbit said:
He isn't interested in discussing reform to the system to keep it sustainable for the future, he is a troll and not a very bright one at that.
As a troll he deserves nothing from us except insults and ridicule.
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Your completely right, I want to END SOCIAL SECURITY which I have openly stated throughout the thread
 
Exterous said:
According to the SS administration there will be no problem in supplying you with ~80% of your promised benefits in 2038. Realistically reforming SS is pretty simple. You could slowly raise the age over the next couple of decades and then peg it to life expectancy. You could remove the tax and contribution caps which would solve most of the problem. If you want to stick it to people who make more you could remove the tax cap but keep the benefit cap in place and be fine for a really really long time.

The sad thing is that fixing it is easy but no one will do it. This does not bode well for more complex and more dangerous problems with Medicare/Medicaid
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My retirement plan is to make sure I've saved enough on my own to support myself, if possible. If SS is still around and I'm able to draw on it, then all the better.

I'm not putting my faith in politicians to fix SS.
 
Quote:
Originally Posted by CrackRabbit View Post
He isn't interested in discussing reform to the system to keep it sustainable for the future, he is a troll and not a very bright one at that.
As a troll he deserves nothing from us except insults and ridicule.



Incorruptible said:
Your completely right/
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feralkid said:
I've been contributing to Social Security for over 40 years.



Get off my lawn, punk!
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Same here, over 50 years.

All I want to know is who is going to take care of the old folks when you guys blow up Social Security?

Nobody else is going to take care of your Granny. She's gonna be your responsibility.
 
Incorruptible said:
That's not my problem, they should be planning there own retirement and not relying on the government. If SS wasn't there they would actually have to do it themselves. By your logic we should ban drugs because people hurt themselves using them

Eventually SS will run out 😀 its not sustainable the way it is. As well illegal immigrants will later on be able to collect it as well.
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If 75% of the population has no retirement I'll bet they make it your problem through force or voting. (And you analogy is horrible)

As for running out I haven't seen any projections beyond 2085 but they are still projected to be able to pay out benefits for the next 73 years

child of wonder said:
My retirement plan is to make sure I've saved enough on my own to support myself, if possible. If SS is still around and I'm able to draw on it, then all the better.

I'm not putting my faith in politicians to fix SS.
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I think thats the best plan (most responsible plan) and its what I am doing but it looks very likely that SS will be around, at least in part, when we retire

glenn1 said:
If you're comparing 401(k) plans generally directly to SS, then yes the 401k is absolutely more reliable due to the participant ownership; absent nationalization, divorce, or similar even the funds are yours and cannot be taken away whereas again SS is completely paid at the whim of Congress.
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This is entirely a matter of viewpoint but I think you are underestimating how likely Congress would look at 401(k)s for two reasons. The first is that the way 401(k)s are taxed could easily be changed at the whim of Congress. The second is that changing tax laws on 401(k)s would affect less people than changes to SS. The ultra wealthy depend on 401k income during retirement less than the middle class and the poor typically don't have one. Thus only the middle class is really screwed and we see how much everyone cares about them

I am not saying its likely to happen but for a dire situation where Congress would have the guts to eliminate SS I would not be surprised to see changes affecting 401ks as well
 
diesbudt said:
Needs to be reformed. Not Ended.
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This. Social Security is a good thing. But, in its current form, its a near total disaster. Privatizing SS would solve the problem very well, if done correctly. Hell, even partially would be a boon. Since the current SS has a negative % return.
 
I wish people could opt out... I would find some minor joy in watching you be left on the street to die if you became disabled.
 
DarkVision said:
Read history before SS and After. Do we really want to go back to the before?
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Greedy ass kids do, they care only about themselves and the rest of the country be damned. That is unless they were to become disabled... at which point they expect a bailout.
 
Yes it should be ended. This month. All seniors who are scraping by can find themselves out on the streets and if they're honorable just slit their own wrists so that we don't need to worry about them. This is great, it would make 'merica strong again.
 
Incorruptible said:
Which is the way it should be
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No, the way it should be is trolls like you, who haven't the first clue why they can't put together a comprehensive argument, took a look in the mirror and saw what everyone else sees.

Then get off ALL our lawns.

dunce-cap1-268x300.jpg
 
Doppel said:
Yes it should be ended. This month. All seniors who are scraping by can find themselves out on the streets and if they're honorable just slit their own wrists so that we don't need to worry about them. This is great, it would make 'merica strong again.
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Good post!

Post llike the OP's piss me off because they are so ignorant. I bet he has never had a loved one dependent on SS and Medicare.
 
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