Posted on 12/16/2013 6:20:55 AM PST by Kaslin
We have no idea of what will be available in 2033 to pay SS recipients. It’s a big guess depending on employment stats & incomes.
At 33, I would GLADLY sign any paperwork required to exempt me from Social Security and allow me to reinvest that money in my own managed retirement fund. I would swear/promise to never submit an application for SS in the future and understand that if I did, I would be subject to fines and or legal action.
I know I’ll never see a dime of the money I am or have put in, and I would gladly take that extra money every paycheck for my own savings.
It’s a God forsaken tragedy that over 60% of whites have money in retirement accounts yet we’re seen as “bad people” or otherwise “keeping the black man down” because they don’t have the drive to want to do better for themselves. Instead of other races and cultures looking up to white Americans, they’re trying to drag us down to their level, and that’s a freaking disgrace.
This is BS! It's all in a lockbox! Algore told me so!...................
Low income earners don’t have the brains to figure out they’re being screwed. The issue will be demigogged.
“Allow them a choice to take their payroll tax and invest those funds to build their own retirement account nest egg. “
They can’t manage money now and this idiot thinks they will invest in anything but leases on BMW’s, hair “perms” and nails? I would only be for it if they had to sign waivers absolving taxpayers of any future responsibilities for supporting them in their “retirement” years.
At 49, I would happily forgo Social Security if it would allow me to invest half of what I remit to the program.
Star - Low income earners is who Social Security was designed for!
This is a foolish article for a failed and foolish program. The poor will no more save if opted out of SS than if they are in it.
The poor will always be poor and we will not stop that.
Better yet, phase the program out entirely. Do not replace it though with another Wall Street gift like the 401.
At best replace it with a program like Chile’s or Galveston Texas’.
Means testing and endless exceptions are not constitutional and neither is the progressive tax.
Whatever. What we think, what I think makes no difference.
Where are the Asian retirement figures?
Oh,that’s right,they are successful minorities and don’t count.
.
And why only low income earners? How about letting everyone invest their own money if they choose?
Oh, yeah - the whole ponzi scheme thing...
Well, everyone in the pool.
It was designed to be that - a safety net, not a retirement plan.
What do those signs in the national parks say: Don't feed the animals, they will get dependent on the food. Humans are no different.
Why save when you know the government will take what *you* have worked for to give to those who didn't plan ahead.
Ah - Star Parker. I hadn’t realized she was the author. After reading the post I wondered what kind of person could write this baloney. I should have known.
“They hide because it is hard. If payroll taxes, as the Social Security Administration indicates, are almost 25 percent short to pay required benefits, then taxes need to be raised by almost 25 percent to make up the difference.”
Taxes will not happen, but more borrowing will. The SS bills will always be paid. That is how you keep the masses content. Just like EBD cards, there will always be enough money to cover it. Same for disability payments.
We must do away entirely with the idea that a monthly pension check from the government is a good idea. People should have full control of their retirement funds and should manage their affairs responsibly. This is true freedom.
I know many won’t and they will become dependent on welfare or private charity. As evidenced by the story, even with social security, we will always have that problem.
That is very true. We also have no idea if anyone is still around in 2033
We need a solvent national pension for people who don’t waht to think about it or are not financially literate, a voluntary one.
Social Security needs to be there for those whose ability to save for retirement was leeched away, many have no option. Phase out, buyout, I have no idea what would both work and be politically acceptible.
401K plans have been more of a boon to the wrong people than the recipients of the plan, the billions of inflow every month have hidden all manner of malfeasance to the point that I distrust stock valuations.
Flame away.
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