Posted on 01/29/2024 6:28:45 AM PST by reaganator
Never heard with the endless talk about "protecting Social Security" are suggestions for the ending of the surplus Social Security contributions being moved to the general fund and spent by Congress. Every Social Security contribution, past and present has been spent and is gone. In place of this money are government bonds, the Social Security "Trust Fund." A government bond is nothing more than a promise by the government to collect money from future taxpayers. Not even the federal government can spend and save the same money. The spent money is gone. When determining the solvency of the Social Security system the government bonds are erroneously used. The only money in the Social Security system are the current contributions as they pass through being spent. This Ponzi Scheme has only survived because its victims are mandated by law to participate. Any fix to the Social Security system should begin with the ending of the surplus contributions being spent, the only way to do this is to allow participants to own their own accounts and be able to invest a portion of their contributions in real, actual investments. Please feel free to tell me where I am wrong.
I know, that is why I mentioned it has already been submitted previously as a bill to congress. I actually read the draft language years ago.
Shocked me to my core, ever since I have tried to maintain as low a debt profile as possible.
I am led to believe that currently the Social Security contributions coming in to the system are greater than the cost going out in benefit checks and administrative costs. That is what I am referring to as the surplus contributions continuing to be spent by Congress.
lets be FULLY honest here. Look at the whole system, not just one small part like liberals do.
Systems are complex, hard to control, they lead to answers like God.
A few thoughts:
1) I inherited a bit from my parents because they received socials security and Medicare. That would have consumed their wealth and mine if I had to spend to take care of them. It was my responsibility to take care of them. I am just pointing out that I benefited from the govt pmts in my current wealth situation. And so did ALL of us.
2) What is wealth? The rather not specific definition from Adam Smith, is that when you spend it, it generates more wealth. The example is that when you drain a swamp, make improvements, you can make it a productive field. DRAIN THE SWAMP. Does that give you new meaning to what can happen with Trump?
3) In Adams view, govt and lawyers were a consumptive activity, not wealth generating. But they were needed in limited quantities. We spend money on faggots, racism, global warming, etc. all consumptive activity.
4) Our govt has invested in the past that generated more wealth, it can happen. Alaska purchase, rural electrification, interstate system, space exploration, more if we think about it.
4) So where do we invest our money to generate more wealth? Send it to New York, and support more wokism? Send it to govt to support more wokism.
5) What does God say on the matter? Invest in the Kingdom so that you will be welcomed into heaven. Your most valuable assets are your time and relationships. Invest in people and local. BUT BE WISE ABOUT IT.
Social Security is just a tax, like all others.
To be spent as congress sees fit.
There is no “Lock Box”.
It’s not your money, and you have no legal claim over it.
Ruled as such by SCOTUS over and over again.
Act and plan accordingly.
By law, the only thing the SS administrators can invest the SS fund in are U.S. treasuries. I wish they could invest in a large array of asset classes like I do my retirement portfolio, but they can't. So, I guess having the SS fund investing in U.S. treasuries is better than just a plain savings account.
By buying U.S. treasuries, that's how the SS administrators "hand over surplus money to Congress". Thus, it's not like Congress is directly raiding the SS fund. It's more like, in the early years of the SS fund investing in treasuries, Congresscritters used to market their extra spending by saying, "It helps the SS fund, doncha known, because the SS fund is the largest owner of US treasury debt, so if the Government doesn't have tons of debt through spending then the SS fund has nothing to invest in and blah blah blah blah".
By the way, over recent years I believe the Federal Reserve has surpassed the SS fund as being the largest owner of U.S. treasuries (largest owner of U.S. debt). I know we talk about China a lot, but they're the largest foreign owner of U.S. debt.
If I'm right, then it's a stretch to describe it as Congress raiding the SS fund. It'd be more accurate to describe it as Congress should keep spending so darn much. Also, they should let us have our SS account balances with some interest and let us save and invest that money as each of us darn well wants to.
“It’s impossible to pay bills with gold or silver coins.”
What about “All debts, public and private”?
Many folks I know would be glad to take Gold in payment.
Especially for depreciating hard assets like used cars and other equipment.
The more likely -- and feasible -- approach to "saving" Social Security is what we are seeing right now:
1. Pretend the system is solvent without any changes.
2. Erode the purchasing power of the U.S. dollar through inflation.
3. Artificially underreport the rate of inflation so that Social Security cost-of-living adjustments (COLAs) don't keep up with the real inflation rate.
4. Import tens of millions of immigrants from Third World dumps who will subsidize the retirement of existing Americans through: (A) paying future payroll taxes, and/or (B) accepting a reduced standard of living to place downward pressure on living costs for U.S. retirees.
The fix is to start denying the money for the government to spend. Allow participants of a certain age to invest a portion of their contributions in real, actual investments.
I get why it seems unlikely. All I can say is literally they have put forth at least one bill in congress to do just what I said.
I would be careful dismissing it out of hand.
First thing socialist do once power if secured is confiscate all saved personals wealth.
My mortgage is our main debt-—everything else is bills (gas, electric, clothing, wine (lol), etc)
The main problem is NOT the mortgage it’s the property taxes-—they are the reason there’s NO way I can retire in the North East!
I remember reading a USSC case where somebody sued believing that they had money held by SS . The court ruled that government misinformation by using words like "trust fund" was legal because the government wasn't obligated to use words as people would normally understand them. Social Security was a ponzi scam from the start.
Property taxes imo have always been unconstitutional, basically property taxes have removed any private ownership of land or housing in this country.
Not much anyone can do about it though. :(
Property taxes can’t be as bad as here in Texas.
There is no money in US Treasury bonds. That is merely a promise by the government to collect money from future taxpayers to cover these bonds. Nothing more. An individual participant in the Social Security system has no “Social Security account balance”.
Allow participants of a certain age to invest a portion of their contributions in real, actual investments.
government may be your only buyer..................
This next generation is not a savings/investment generation. It is spend, spend, spend.
“The court ruled that government misinformation by using words like “trust fund” was legal because the government wasn’t obligated to use words as people would normally understand them.”
Another one of my favorites is the “voluntary” income tax.
.Gov is shameless liars.
You forgot MRNA vaccines to help thin the herd and reduce liabilities
Stocks and real estate transactions happen each and every day. A good transaction results in both the seller and buyer being happy.
Stocks and real estate transactions happen each and every day. A good transaction results in both the seller and buyer being happy.
You miss the point.
” A good transaction results in both the seller and buyer being happy.”
There is a hidden assumption there.
Let us lay that card on the table.
The seller can easily hide material facts from the buyer—and while the buyer may be “happy” now they may be in for a nasty surprise later.
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