Social Security update: Direct payment up to $4,555 goes out to millions in 11 days

Washington Examiner ^ | Asher Notheis

[joma89]

I have paid into it too for decades and I say get rid of social security. We can not keep perpetuating generational theft.

[DoughtyOne]

You seem to say a lot without thinking.

People who have passed their formative years and can’t go
back out and work for a living anymore, have no alternative
than to demand the federal government live up to it’s pact
with them.

I’ve presented plans on the forum to do a gradual forty year
transition from SS as it is today, to a system that allows
people to invest their own funds.

When I did, crickets. The people shooting their mouths
off, had nothing to say.

We could have half of our people on a new system by 2043
if we would just get on with it.

We could have 25% off of it in ten years.

I believe a number of insurance products that we use
today could be transitioned into self-insurance as part
of the plan, saving folks an awful lot of money, and
facilitating the ability to develop a massive fund by
the time they can retire. And I think it could work out
so people could retire in their 50s too.

[gitmo]

This is news?

[JoJo354]

Nice...you know, I did save while I was working. I had a 401K and had a certain amount of $$ taken out every paycheck and put into a separate “vacation fund savings account” for emergencies or if I ever took a real vacation (which was rarely) but when the down turn came back in 2007-2009...guess what? I lost over half of that 401K that I had been contributing for years. It happened right before they laid me off due to businesses not buying or building (I was in the material handling business). And it was right before I was to retire. So I am so very glad I had SS to be there for me. Otherwise I would have lost my home and maybe be on the streets. I don’t feel bad at all for collecting SS or having Medicare. I pay my premiums and get very good care.

[Jane Long]

so my 45 yrs of working and paying SS means nothing then?

---

Pretty much.

We all knew NOT to depend on it, for retirement living, years ago.

We just all had the lovely obligation to pay in.

[Jane Long]

Yep. This ponzi scheme will suffer even more, now that the labor force (those younger, current payers) has dropped, significantly.

[wgmalabama]

That is the problem with SS. It’s generational welfare not a savings account. If each person owned their contribution then it would be moral. Unfortunately the FedGov is who they are - cheats, thieves and whores (aka politicians).

People are mad at one poster for stating that generational theft needs to stop. Most honest people will agree but only after they get theirs. It really needs to be phased over from a ponzie scheme to a true retirement style account. No one can figure out how to do it.