Wait... I thought Social Security was solvent until 2035?

[PEPPERJAX]

That is it! I am bumping some random ancient PF thread!

 

[VolStrom]

I would say yes to ending SS and giving up everything I have put in if the .gov exempted me from taxes once I turned 65. But we know they ain't going to do that.

Well I have the privilege of paying income taxes on 85% of my SS income and I also pay more in income taxes than I get from SS. It boggles the mind sometimes.

 

[Thunder Good-Oil]

Social Security is not going away. The mania over possible insolvency is way overblown. The surplus being drawn down is what is happening. VERY slight tweaks to the variables will easily rebuild a surplus. Slightly delaying the age that benefits begin. Slightly increasing the 2x 6.2% funding from payrolls. Slightly decreasing the COLAs.

In a worst case scenario the only benefits paid to the recipients will be what is collected from current payrolls. Even something that drastic likely only decreases payments by a third.

The health of the SS fund is simply a political chess piece. It’s financials are something to criticize the party in power over.

 

[LouderVol]

You say that only because you are a still wet behind the ears pup that wouldn't lose much.

16 years of 6% with zero return, is much better than +50% of 6% with no return.

Funny how you are all about personal responsibility until someone threatens your "free ride". Shouldnt be paying for college or retirement.

Sorry the generations before were 1. Dumb enough to trust the government. 2. Dumb enough to trust a pyramid scheme, and 3. Dumb enough get down with socialism.

Enough is enough, cut it off.

Heck I will still accept my opt out option of only paying half of SS so you old money suckers dont have to live with your bad choices and I get nothing. Oh wait, I am not going to get anything anyway, hahahahaha.

Screw all you marxist pinko commie socialists and the FDR you rode in on.

 

[LouderVol]

Therefore he needs to pay his SS money in for the rest of his working life and then receive nothing for it.

Already going to happen. Your pyramid scheme will already see me pay in my whole life and get nothing back.

The only reason you socialists dont care is because you get your turn at the government test.

Amazing how quickly you drop your conversative principles when the bloated government wags it butt at you.

 

[NorthDallas40]

Social Security is not going away. The mania over possible insolvency is way overblown. The surplus being drawn down is what is happening. VERY slight tweaks to the variables will easily rebuild a surplus. Slightly delaying the age that benefits begin. Slightly increasing the 2x 6.2% funding from payrolls. Slightly decreasing the COLAs.

In a worst case scenario the only benefits paid to the recipients will be what is collected from current payrolls. Even something that drastic likely only decreases payments by a third.

The health of the SS fund is simply a political chess piece. It’s financials are something to criticize the party in power over.

This is more in line with what my financial advisor is telling me also although they indicated some eventual hit to benefits would have to occur at some point. But SS is not going away and the cut would not be deep.

 

[LouderVol]

Social Security is not going away. The mania over possible insolvency is way overblown. The surplus being drawn down is what is happening. VERY slight tweaks to the variables will easily rebuild a surplus. Slightly delaying the age that benefits begin. Slightly increasing the 2x 6.2% funding from payrolls. Slightly decreasing the COLAs.

In a worst case scenario the only benefits paid to the recipients will be what is collected from current payrolls. Even something that drastic likely only decreases payments by a third.

The health of the SS fund is simply a political chess piece. It’s financials are something to criticize the party in power over.

Those are all pretty dramatic changes. Under the current system it's something like if you made an average of 50k a year and only live to 80 you already dont get your full mount back.

Decreasing payouts, while increasing the rates, and postponing benefits just drives the break even point even lower.

And you are missing something in your surplus point. That surplus is what they are paying out of. When its gone they will have to draw from the actual funds. As they draw more and more there will be less and less interest gained. Which means they will draw from the balance more and more. Which means less interest, and so on and so forth.

At the very least our trillion dollar deficit government will have to pay out from the general funds into SS to fund the losses.

The pyramid scheme is coming down.

 

[VolStrom]

Already going to happen. Your pyramid scheme will already see me pay in my whole life and get nothing back.

The only reason you socialists dont care is because you get your turn at the government test.

Amazing how quickly you drop your conversative principles when the bloated government wags it butt at you.

You're such a puss. Be a man you little turd. Work 40 years and pay taxes, raise a family and then come back and bitch about how you are oppressed. People like you are what is wrong with our country.

 

[NorthDallas40]

Already going to happen. Your pyramid scheme will already see me pay in my whole life and get nothing back.

The only reason you socialists dont care is because you get your turn at the government test.

Amazing how quickly you drop your conversative principles when the bloated government wags it butt at you.

Pay into the government for 35 years and get back to us louder. I didn’t have a choice on the issue but I kept my end of the bargain so they need to also.

 

[Orangeburst]

That is it! I am bumping some random ancient PF thread!

Bump the one that was a 30K post classic where Trump was a Russian agent!

 

[LouderVol]

You're such a puss. Be a man you little turd. Work 40 years and pay taxes, raise a family and then come back and bitch about how you are oppressed. People like you are what is wrong with our country.

Not oppressed here leach. Paying my own way. Sorry your parents didnt raise the type of person who would do the same.

 

[hog88]

16 years of 6% with zero return, is much better than +50% of 6% with no return.

Funny how you are all about personal responsibility until someone threatens your "free ride". Shouldnt be paying for college or retirement.

Sorry the generations before were 1. Dumb enough to trust the government. 2. Dumb enough to trust a pyramid scheme, and 3. Dumb enough get down with socialism.

Enough is enough, cut it off.

Heck I will still accept my opt out option of only paying half of SS so you old money suckers dont have to live with your bad choices and I get nothing. Oh wait, I am not going to get anything anyway, hahahahaha.

Screw all you marxist pinko commie socialists and the FDR you rode in on.

You don’t make a good substitute for Septic. Not bright enough.

 

[PEPPERJAX]

Bump the one that was a 30K post classic where Trump was a Russian agent!

I bumped an older thread, but mods deleted the bump. My guess is they don't appreciate it

 

[LouderVol]

Pay into the government for 35 years and get back to us louder. I didn’t have a choice on the issue but I kept my end of the bargain so they need to also.

16 years in. Almost half way there.

I dont have to be up to my eyes in **** to know I need to get out of the latrine pit.

thankfully my dad told me the truth and not some government fairy tale. So I will be ready for my retirement.

I just love seeing all the RINOs come out in this thread, whining for their turn of government pork. Conservatism died all time ago in you guys.

 

[VolStrom]

Not oppressed here leach. Paying my own way. Sorry your parents didnt raise the type of person who would do the same.

I paid my own way my entire life and I'm far from a leach, but I bet you are

 

[Orangeburst]

I am glad I ate my rolaids.

 

[NorthDallas40]

16 years in. Almost half way there.

I dont have to be up to my eyes in **** to know I need to get out of the latrine pit.

thankfully my dad told me the truth and not some government fairy tale. So I will be ready for my retirement.

I just love seeing all the RINOs come out in this thread, whining for their turn of government pork. Conservatism died all time ago in you guys.

Lol. Actually many you are throwing shade at planned for their own retirement also but you do you. If it went away tomorrow and I didn’t get a cent we would survive. But that is a stupid basis to just give up on a benefit I was forced to pay for and am legally owed.

 

[LouderVol]

I paid my own way my entire life and I'm far from a leach, but I bet you are

enough to take the pounding your generation left for mine.

Thanks for the trillions in debt, bloated AF government, loss of rights.

I guess a real man avoids any risk and pain, and lines up for the government cheese. Am I right Volstrom? Is that what a real man does?

You cant even make a real argument so you turn to personal attacks which are hilariously unaware.

 

[LouderVol]

Lol. Actually many you are throwing shade at planned for their own retirement also but you do you. If it went away tomorrow and I didn’t get a cent we would survive. But that is a stupid basis to just give up on a benefit I was forced to pay for and am legally owed.

I am also legally owed, and I will see far less than you will. Its only a benefit as long as the pyramid scheme stays funded. I am seeing a tax and socialism cheered and defended by those who call themselves conservatives.

Oink oink.

 

[Orangeburst]

Ponzi scheme....give me a prorated lump sum and retire that bitch..Only going to be less and less in future especially with this budget climate. Just the prinitng alone and inflation will kill what you are owed.

 

[NorthDallas40]

I am also legally owed, and I will see far less than you will. Its only a benefit as long as the pyramid scheme stays funded. I am seeing a tax and socialism cheered and defended by those who call themselves conservatives.

Oink oink.

Scroll up and read more level headed answers. Once you’re done crying yourself out you will realize SS isn’t going to implode and go away. Quite simply put it cannot. My financial advisor is Goldman Sachs. They laugh at this stuff when it comes up. There will be adjustments but it isn’t going away. It can’t our financial system would implode.

Look at it this way if you’re right you won’t have to worry about your retirement because financial Armageddon will be upon you. So as it all burns down around you you can raise you fist in defiance and yell “yeah bitches I told you so I was right!”

But yeah it is a Ponzi scheme. But these Ponzi schemers actually control the fiat currency.

 

[NorthDallas40]

I am also legally owed, and I will see far less than you will. Its only a benefit as long as the pyramid scheme stays funded. I am seeing a tax and socialism cheered and defended by those who call themselves conservatives.

Oink oink.

BTW you have every right to be pissed. I would if I were you. It’s possible any maybe even likely I’ll get more back out on a percentage basis than you so yeah I’d absolutely be pissed. But you’ll be ready. Now look at the young idiots around you that have no clue what is going to happen.

 

[LouderVol]

Scroll up and read more level headed answers. Once you’re done crying yourself out you will realize SS isn’t going to implode and go away. Quote simply put it cannot. My financial advisor is Goldman Sachs. They laugh at this stuff when it comes up. There will be adjustments but it isn’t going away. It can’t our financial system would implode.

Look at it this way if you’re right you won’t have to worry about your retirement because financial Armageddon will be upon you. So as it all burns down around you you can raise you fist in defiance and yell “yeah bitches I told you so I was right!”

And I pointed out the fallacy in their stance. My dad is a CPA and is heavily invested in my financial future, he is more concerned than I am. As you pointed out Goldman Saschs has a vested interest in the system, not a vested interest in your actual future, or at least your kids. You should.

The surplus pays the benefits right now. What's left gets rolled over, so we dont draw from the pot. However more and more of the surplus is being spent. Soon enough, 2035ish, there wont be surplus to roll over. The interest gained wont cover payments out. Which means we will not only pay out the interest, aka surplus, but also some of the pot. With a smaller pot, we have less interest. Which means more of the pot is needed, and was going to be needed anyway, with ever growing payouts. And it just keeps snowballing. It's a pryamid/ponzu scheme. They are illegal for a reason.

The other fixes above arent fixes. They just delay that rollover point. Unless they are willing to put a hard cap on total SS payments, lol, there is no fix.

A higher tax isnt a fix for anyone over the break even point. It actually lowers the break even point. And for most working Americans that means they are getting less and less back. Which makes my plan even more attractive.

Lower payments and delayed payments do the same thing.

The easiest way to actually fix the issue is get people off of SS. Half the SS rate for drop outs. The leaches keep getting their wealth redistribution, there is less demand later, opt outs are able to reinvest the half they keep for a better return.

I know, it's crazy to think that trusting people is a better long term solution than trusting the government which got us into this situation to begin with. If only the RINOs actually really cared.

 

[LouderVol]

BTW you have every right to be pissed. I would if I were you. It’s possible any maybe even likely I’ll get more back out on a percentage basis than you so yeah I’d absolutely be pissed. But you’ll be ready. Now look at the young idiots around you that have no clue what is going to happen.

I have a Cosco bag of popcorn next to my strategic reserve of TP to enjoy the fallout. I bear no sympathy for idiots who trust the government.

 

[Orangeburst]

And I pointed out the fallacy in their stance. My dad is a CPA and is heavily invested in my financial future, he is more concerned than I am. As you pointed out Goldman Saschs has a vested interest in the system, not a vested interest in your actual future, or at least your kids. You should.

The surplus pays the benefits right now. What's left gets rolled over, so we dont draw from the pot. However more and more of the surplus is being spent. Soon enough, 2035ish, there wont be surplus to roll over. The interest gained wont cover payments out. Which means we will not only pay out the interest, aka surplus, but also some of the pot. With a smaller pot, we have less interest. Which means more of the pot is needed, and was going to be needed anyway, with ever growing payouts. And it just keeps snowballing. It's a pryamid/ponzu scheme. They are illegal for a reason.

The other fixes above arent fixes. They just delay that rollover point. Unless they are willing to put a hard cap on total SS payments, lol, there is no fix.

A higher tax isnt a fix for anyone over the break even point. It actually lowers the break even point. And for most working Americans that means they are getting less and less back. Which makes my plan even more attractive.

Lower payments and delayed payments do the same thing.

The easiest way to actually fix the issue is get people off of SS. Half the SS rate for drop outs. The leaches keep getting their wealth redistribution, there is less demand later, opt outs are able to reinvest the half they keep for a better return.

I know, it's crazy to think that trusting people is a better long term solution than trusting the government which got us into this situation to begin with. If only the RINOs actually really cared.

Your Dad a CPA in Chatt? So is my Dad..uto, this might be ackward...bro?