Posted on 09/16/2011 7:23:53 AM PDT by SeekAndFind
cuban leaf: Heck, the bible says the life of a man is 70 years. Those that don’t die in childhood, that is.
bm - nor in the womb!
SS CAN be fixed for...by voluntary privatization, so that the suckers like me that have paid in for a long, long time don’t lose everything they put in and younger participants who have paid in something will get that something out.
Money, gold, or blood. Their choice.
That’s where privatization comes in.That becomes your choice and leaves room for higher profit (and loss, presumably, for risk takers and those that have private funds to bolster retirement) to be kept from being “raided.”
The present value of the money I have been forced to pay for SS is about 1.5 Million Dollars.
Write me a check right now, and I will opt out.
Yet the old folks expect that we’ll keep sending them our earnings.
of course not..I think the change would be for newborns and/or folks under 20 years old or thereabouts.
Social Security™ is WORSE than a Ponzi scheme because a when the truth comes out about a Ponzi scheme it ENDS! With Social Security™ your trapped in the lie with no escape under penalty of law.
Why can’t we vote people in who will pass a law.
Let the critters know it’s a one term deal unless they do the right thing,starting with the next election we dump the lifers in congress.
If every penny of my current SS tax is needed to find current retirees, what will they do when I get to keep half in my own account?
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I didn’t see anywhere ever, that every penny is needed today - general consensus is that it is still funded for several more years...but in any event, your money would still be used, but through a higher yield investment vehicle, allowing your money to produce more, not less. Where have you read that the funds are exhausted?
Everything I have read says there is another 20-25 years before it is broke.
Not true? According to who?
SS was running a surplus - more taxes collected than paid out - until ~2010.
Since then, every dime collected is paid out, and then some. The “Then some” comes out of the general fund.
You know, the general fund that borrows .42% of every dollar spent from the chinese.
One mistake that folks make, is that they believe in the myth of a SS trust fund.
The thing never existed - imagine you swipe your kids piggy bank, spend the money on booz, and replace it with an IOU, hoping you die before he notices.
That is the state of the mythical SS trust fund. The money is gone, the drunk died, either the kids pay it, or there is no money.
SO WHAT? Nobody was forced to buy into Madoff’s crazy scheme...that’s SO WHAT.
The question of whether governent can force you to buy a Social Security annuity is right up there with whether they can force you to by a health insurance policy.
HELL NO!!!
“One mistake that folks make, is that they believe in the myth of a SS trust fund.”
I can’t believe that any one in America believes in a “lock box.”
“if it ever existed; I’m still researching that”
Ping me if you find detailed information on that. I find that stuff fascinating.
Today, as you probably know, the government takes the excess SS taxes (or did up until a few years ago when the SS deficit started) and spent it, giving in return a bond to a special closed account that can’t be bought or sold on the open market. And.... as we all know, something that can’t be bought or sold is worthless.
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