X+Y=Screwed

[BeecherVol]

Maybe Al Gore was right when he campaigned about putting social security funds in a "lock box".

As long as he (nor any other politician) has the key.

 

[Rasputin_Vol]

So what would happen to me if I developed a "scheme" where I paid off yesterday's "contributors" with the "contributions" made today? Who could answer that one.....oh ok. You Bernie, in the front row behind those pesky jail cell bars.

I've been calling SS a Ponzi Scheme for 10 years.

 

[TheDeeble]

As to the rest of the post, if your stupid enough to voluntarily give them a portion of your earnings past taxes to hold on for you given its history, go for it.

I agree, but at the same time nothing is being held on to for you. Everything paid in is going to someone else. It's the definition of a ponzi scheme.

I'd rather not have any part of it. And now you have retirees receiving less than they paid. Where's the benefit?

 

[utvolpj]

Times are changing a lot. If your depending on SS 20 and 30 years from now your pretty foolish. That is a lot easier to see and understand than it was say 20 or 30 years ago.

maybe but I would bet the writing was on the wall once the baby boom hit

 

[BeecherVol]

I agree, but at the same time nothing is being held on to for you. Everything paid in is going to someone else. It's the definition of a ponzi scheme.

I'd rather not have any part of it.

Oh, I don't either. My opinion is a worst case idea.

 

[BeecherVol]

maybe but I would bet the writing was on the wall once the baby boom hit

Im sure some may have seen it coming, but a lot of the BBs didn't figure it out til later in their professional careers.

It was doomed from the start.

 

[PKT_VOL]

The difference is those generations are being forced to take another portion of their earnings and invest it because of the threat that SS will eventually be a tax because it won't be there to withdraw later. The generations before put a whole lot more faith in the government than we are now. (Well, most of us) So in a sense your not propping up the generations before you like what is going on now.

I think on a whole you are wrong. Most people are not saving near enough to live on. Especially after the financial meltdown.

 

[BeecherVol]

I think on a whole you are wrong. Most people are not saving near enough to live on. Especially after the financial meltdown.

Thats fine.
All my opinion is that my grandparents put a whole lot more stock in the safety net of SS than I ever will given I have a better sample size of how well it works.
The two that are still living have a very different opinion of giving the government a portion of your check to hold on to.

 

[rmsmith]

I like how so many people are against welfare but when it comes time for ss and medicare we all have our hands out.

Yes we paid into it. But so have many on welfare. however I despise welfare, ss and medicare

 

[PKT_VOL]

Thats fine.
All my opinion is that my grandparents put a whole lot more stock in the safety net of SS than I ever will given I have a better sample size of how well it works.
The two that are still living have a very different opinion of giving the government a portion of your check to hold on to.

Yeah. I think you are the exception to the rule. As is other posters on here.

 

[BigPapaVol]

I like how so many people are against welfare but when it comes time for ss and medicare we all have our hands out.

Yes we paid into it. But so have many on welfare. however I despise welfare, ss and medicare

uh, do what?

SS was passed as a pay in, get money back later proposition. Welfare is a get money proposition and has nothing to do with paying in.

I'm against them both.

 

[rmsmith]

uh, do what?

SS was passed as a pay in, get money back later proposition. Welfare is a get money proposition and has nothing to do with paying in.

I'm against them both.

People started receiving ss immediately no?

They didn't pay into it

Honestly I'm against both

 

[n_huffhines]

Obviously, the greatest generation got a sweetheart deal. Then again, I am ok with that just for their generation. Generation x and the Baby boomers, not so much.

You're OK with the generation that saddled us with these burdensome programs getting off scott-free?

 

[BigPapaVol]

People started receiving ss immediately no?

They didn't pay into it

Honestly I'm against both

they did. Guarantee you they all voted for the party in power for the rest of their lives, as did their offspring.

 

[rmsmith]

they did. Guarantee you they all voted for the party in power for the rest of their lives, as did their offspring.

so the people working then were paying for the people receiving benefits right?

If they were paying for people receiving benefits then how was the same money being saved for them later?

 

[BigPapaVol]

so the people working then were paying for the people receiving benefits right?

If they were paying for people receiving benefits then how was the same money being saved for them later?

they weren't. It was a Ponzi scheme from day 1. Who's arguing otherwise? That was some of the early bullshiz that has gotten us where we are today.

 

[n_huffhines]

SS was also passed under the assumption that your government issued number would never be used as ID....

 

[Pepe_Silvia]

****ing FDR. What a worthless piece of garbage.

 

[rmsmith]

i hate the truman doctrine more than fdr.