Posted on 06/10/2022 9:06:06 PM PDT by SeekAndFind
year ratio covered workers : 1 beneficiary
1940 159.4 : 1
1945 41.9 : 1
1950 16.5 :1
1980 3.2 : 1
2013 2.8 : 1
Social Security was really a tax scheme sold as a safety net. It was expected to take in more than it pays out.
Reality happened, and now it pays out more than it takes it. Can't fixed what was made broke.
“Grown men running around sweating?”
Yes. And — quite UNlike Congress — these guys actually achieve their competitive goals WITHIN the constraints of a time-limited, rules-based system. This sort of rules-based system is, obviously, something Congress knows nothing about; it’s not as if there’s, say, a written Constitution providing them a limiting framework of boundaries that constrain what they can do, or not do. /s
Any surprise, then, that people will actually pay appreciable money to watch sports; to see people work hard and follow a set of rules? Not like they’re getting any of that out of their elected Officials.
My working years unfortunately did not include any lucrative paychecks, so consequently I did not pay as much in nor do I draw as much out. The thing is that I’ve managed to get by on it, but if it is cut back, I would tend to take that real personal & am not in a position to get back on anyone’s payroll to take up the slack either. For some, that may be the only way out; to continue to work after normal retirement time. I already did so that puts me several years further down the road age-wise & not in a position to go back to work. If the Democrats were responsible for using Soc. Sec. funds for other purposes, then this should fall on their shoulders. Perhaps they should forfeit their retirements.
How many years till Welfare goes broke?
How many people think a ‘browning population’ will be willing to pay more taxes to support a ‘mostly white’ population ?
you act like anybody has a choice to pay into SS.....for over 40 yrs I donated, against my will.....
You did not read my Comment #51 follow up.
I presume that you and others will vote for Congressional and presidential candidates who will end this bankrupt travesty.
I'm GenX and I will be lucky to break even on the deal. My son will lose money on the whole deal. He will end up paying more in taxes than he ever gets back. Oddly enough, Al Gore (Democrat) tried to change SS to an account type of thing, he called it a "lockbox". Powers made sure he was not elected.
I can't think of a single Democrat program that is sustainable. Not Social Security, not welfare, not green energy, nor the green movement.
Congress only prints money to help democrats and democrats victim groups... so that source is kaput.
I’ve been on SS for thirteen years now. And I am broke.
“Ready for the Soylent Green new deal?”
I like that, can I borrow it?
Voting? What will that change? The dems see my ballot, they’ll “correct” it to their choosing.
Spent: $1,194,842
Revenues: $1,080,304
Seems it is broke by about $100 billion already.
Would restarting the Draft send them back?
Probably not...
Even that’s not a viable solution at this point. Go ahead and do the math and see how much increase in GDP and tax revenue we would need to avoid default in the next 20 years. It’s impossible unless we have something akin to another industrial revolution.
But... if the economy picks up, it could delay the date a little bit, and it could reduce the need for more radical solutions a little bit, but we are still going to need radical solutions.
Well, I paid into the system and will get nothing in return, for absolutely no reason at all. So which is worse?
I wish they would at least let the people who they know will never get benefits stop paying into the system at this point, but they never will, since they need our money to keep the Ponzi scheme going for a couple more years.
“They haven’t tried working solutions for decades, on any problem.”
Yep, it seems government operates on the same principle as modern medicine: never cure the disease when you can make money treating the symptoms.
AOC says we’ll all die first...
I’m just in time. I’ll have only paid in for 20 years by that point.
SS is a ponzi scheme. The money was gone a long time ago.
THERE IS NO “TRUST FUND”. The federal government issues T bills to the SS administration phony trust fund and spends the money. The effin trust fund is a truckload of US treasury notes. Using Uncle Visa to pay off Aunt Mastercard.
In the private sector the CEOs of an accounting firm doing this would be in prison.
Here is another example. In Kentucky the budget has to be balanced. So to finance spending beyond tax revenues the state borrows money. One trick is borrowing from the teacher’s pension fund at interest rates above prevailing rates - as if the rate mattered. The teacher’s fund claims they are getting a great investment return on their money, while the real borrower is the state which is paying interest via tax revenues.
Look at it this way. The state is financing a 1 year budget shortfall with a 20 year note. That is criminal.
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