• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

If you could opt out of Social Security Today

Hell yeah. I would dump half of it in my 401k and spend the other half on hookers & blow and still come out twice ahead of what I would have received from SS.
 
Yea, but only if baby boomers would be held to what is coming in the system that can go out. i.e. a balance budget for SS, can't spend more then it takes in. 😉
 
Why isn't this a viable option for winding down this program? BB'ers still get funded through the mandatory 10-15 years but the pool of long term benefit recipients shrinks until almost no new long term obligations on the program anymore except for the rare cases.
 
Genx87 said:
Provided I receive the 12.5% in taxes they take from my salary? Absolutely!
Click to expand...

What do you mean? The first 10 - 15 years (or whenever you decided to opt out after the mandatory period) is forfeited. After that the SS deduction is no longer on your pay stub. Is that what your talking about.
 
Without hesitation, yes yes yes.

I would opt out of this shitty system, absolutely.

12.5% salary increase? Hell yes.
 
IceBergSLiM said:
What do you mean? The first 10 - 15 years (or whenever you decided to opt out after the mandatory period) is forfeited. After that the SS deduction is no longer on your pay stub. Is that what your talking about.
Click to expand...


Maybe he talking about getting the employers half as well. SS tax use to be 6.2 from you and 6.2 from the employer. It was reducded to 4.3 for people for 2011.

My bet is we get 6.2 off and the employer takes the windfall of "their" 6.2%.

Even then I take my 6.2% and invest it myself.
 
The problem is if we implemented this they would just raise income taxes to be able to pay the boomers. So we'd still pay for it, but get nothing at the end.
 
Marlin1975 said:
Maybe he talking about getting the employers half as well. SS tax use to be 6.2 from you and 6.2 from the employer. It was reducded to 4.3 for people for 2011.

My bet is we get 6.2 off and the employer takes the windfall of "their" 6.2%.
Click to expand...

Well I'm sure that would be between you and your employer to determine. It could be a "benefit" offered by employers if you opt out to also boost your base salary.
 
the DRIZZLE said:
The problem is if we implemented this they would just raise income taxes to be able to pay the boomers. So we'd still pay for it, but get nothing at the end.
Click to expand...

with a mandatory 10-15 year pay in before opting out you can still float the boomers because you don't have to plan for more long term obligations
 
No doubt I'd bail out in a heartbeat, no second thought required. Most people would. That tells you how lousy SS really is, when people would gladly forfeit what they've already invested to get out of it and invest their own funds.
 
I would be the first in line and it should be the full share. Consider it a 12.4% raise and every bit of it would go into retirement. Some of the 401k and roth/IRA limits would have to be adjusted/increased however.

Bonus if they gave me all I've contributed over my lifetime, I won't even ask for interest, just dollar for dollar what I put in in a lump sum.
 
spidey07 said:
I would be the first in line and it should be the full share. Consider it a 12.4% raise and every bit of it would go into retirement. Some of the 401k and roth/IRA limits would have to be adjusted/increased however.

Bonus if they gave me all I've contributed over my lifetime, I won't even ask for interest, just dollar for dollar what I put in in a lump sum.
Click to expand...

no you don't get anything at all to ensure bb'ers are floated.
 
IceBergSLiM said:
with a mandatory 10-15 year pay in before opting out you can still float the boomers because you don't have to plan for more long term obligations
Click to expand...

Did you do any math to get these numbers or are you just pulling them out of thin air? I seriously doubt that would be sufficient to keep SS solvent.
 
the DRIZZLE said:
Did you do any math to get these numbers or are you just pulling them out of thin air? I seriously doubt that would be sufficient to keep SS solvent.
Click to expand...

Agreed. Most baby boomers will live to be 110-120 years old, so our obligations extend for quite some time.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top