How to Save Social Security and Make It Solvent Again

Original Work ^ | 8 Jan. 2008 | Steal this Idea, Please!

[Vigilanteman]

Excellent link and that is, of course, the ideal long-term solution. But a interim solution such as outlined here might be the best way to get there politically.

Maybe not today, when the first boomers are starting to retire. But certainly by the point that those numbers reach critical mass and voting power capable of overcoming the government employee unions.

[cpdiii]

What is really going to happen is “means testing.” Retirees that have dutifully put savings away in 401ks will have those investments calculated in their social security check they receive. Yes, people such as I will have our checks reduced due to the fact that we are responsible and have saved for retirement.

Translated into present day vernacular of the street this means, WE ARE GONNA GET SCREWED AGAIN!!!!!!!!!

[Alex Murphy]

My generation and the boomers younger don’t deserve SS. We squandered the Social Security Surplus....SS is bankrupt because of us. We do not deserve it to be baled out. We have no ethical or moral basis to demand that our grandchildren (or immigrants or anyone else) to pay for our own mistakes. We should reap what we sowed.

My initial reaction to the article was the same as yours. But let me go beyoind that. IMO "saving" the program only grants it legitimacy. Let's call it what it is. It's socialism, pure and simple. Stop taxing private citizens for Social Security, and let people take responsibility for their own retirements with their own dollars.

[Ben Ficklin]

"interim solution"

Raise the earnings limit.

[Leftism is Mentally Deranged]

Will never happen. Government sees government jobs as free welfare for certain segments of the population, and that does not include ordinary people. The IRS is 50% affirmative action hires (which explains the incompetency)

[Alex Murphy]

...it’s the older generation that is usually the problem. You all know the type. They’ve been in the job for a long time. They are tired. They don’t care much (if at all), anymore. They don’t work as hard. They don’t want to learn anymore. They’ve lost their ability to empathise. Or they’ve just plain lost their abilities. Ninety percent of my operational problems come from these people and the author wants to fill the government with these people? Are you kidding me?

....Dedicated public servants love their country and care about their fellow citizens. They actually want to make a difference....

....Lastly, if you don’t think the average government worker is competent, feel free to put down the golf clubs at your hard working “private sector” job, and come on over to make a difference.

youarekillingme
Since Jan 8, 2008

[Wolfie]

So you’re going to tell the oldsters they have to work after retirement? Good luck with that.

[Vigilanteman]

So you’re going to tell the oldsters they have to work after retirement?

Nope. Read it again. They get a better paying government job for every year they delay collecting social security.

The post-boomers get to avoid hefty tax increases until it becomes politically possible to privatize the current Ponzi plan.

Best of all, they get the opportunity to shrink government as the boomers die off.

The only losers are the younger and, initially, the most incompetent government workers. They can do the jobs we supposedly need the illegal aliens do.

[litehaus]

"We squandered the Social Security Surplus"

Well, not exactly......Ol' LBJ needed money for his war back then, and didn't want US to see what that did to the budget of the day. SO,.....he hid it by combining the SocSec bucks with the general fund--- ,made it look all OK to us dummies, Right?

The Dem congresses of the day and those that followed saw this as OPPORTUNITY!.. See how well off we are...they said. This fraud is continuing to this day except now even the SocSec funds are not enough....just my view of course....

[JPJones]

As I’m 64 with no plans to retire or collect yet, I think I can say this. My generation and the boomers younger don’t deserve SS. We squandered the Social Security Surplus. Starting in the 60s under LBJ until now in 2008 we have consistently paid enough into SS to keep it solvent. But we demanded immediate gratification and using SS money to ease our guilt feelings about the poor, Blacks, seniors older than us and worst of all, drug and alcohol abusers and malingerers on SSI. SS is bankrupt because of us. We do not deserve it to be baled out. We have no ethical or moral basis to demand that our grandchildren (or immigrants or anyone else) to pay for our own mistakes. We should reap what we sowed.

Bump.

[television is just wrong]

stop paying benefits to immigrants who never paid into the system.

[SENTINEL]

The only moral option is to return to each individual that which he paid into it, and close up shop.

Will never happen........

[Recon Dad]

You’re preaching to the choir! You can’t cry over what you can’t change, but my contention is; do not come to me now and tell me we’re broke and you don’t get anything. I for one will not except that answer, someone will pay.

[quant5]

Same could be said of every generation whom squandered FICA money in a fiat banking system for almost a hundred years. Based on your attitude, your one of the boomers I don’t mind supporting. As for the hippie/welfare climate of the 1960’s they were a minority rather then the majority and the fleas come with the dog.

If I have any complaint about the boomer generation is that it did not pay attention to the writing on the wall in 1979 and 1980 to drastically decrease foreign oil dependance. In fact it increased another 20% between then and now, mainly from population growth but also because of bad policy driven by greedy politicians at the top.

[quant5]

Indeed. It will be my generation (I am 37) that will see a hold or even decrease of monthly benefits when I retire. In other words my ratio of what I put in vs. what I get out will be a lot smaller. I would like to someday see the option to put my SS into an investment accounts instead of this Ponzi scheme.

[driftdiver]

“You can’t cry over what you can’t change, but my contention is; do not come to me now and tell me we’re broke and you don’t get anything. I for one will not except that answer, someone will pay.”

I vote for you to pay the difference. Either that or we could start sending Americans to Mexico to live off their government.

[freeangel]

Couldn’t they just put SS payments into a real lockbox? I thought the real problem was the wide usage of these funds for other government shortfalls.

[quant5]

Something like the French Revolution.

[quant5]

Thank you for the insights.

[napscoordinator]

Would this include military too?