#21 Mar 9, 2013
I noticed you don't want to sacrifice your social security check. Why not? You also mentioned that the "dumb craps spent it all". Are you referring to the American people who have been living on that money as well as money that they did not contribute to the fund? Just to be clear, there has never been a surplus or a fund so speak of. It is a system that has always taken at least as much as people have put in. Over the past 30+ yrs, it has taken much more than it generates. The ideas was that at 62, people would take SS for 5 yrs and die. Well, that plan is far off from people living to 100 and collecting SS for 38 yrs. You can see where you'd easily get into trouble and "the plan" falls apart.
No fund, no pile no one spent it. "We the people" spent more than we put in.
#22 Mar 11, 2013
Nice that you understand the point.
SS was never intended to be a complete retirement but simply a supplemental income in retirement.
When established people very seldom lived to their 80s (usually lived to late 60s or early 70s) and there were 7 workers paying for one retired person. We are now at a ratio of 3 to 1.
The President, House and Senate have turned it into a "political prize" by giving it to those that did not earn it and raiding it to pay for their spending.
LBJ - Use it to fund the Government by selling bonds to SS for the fund's cash. This is a ponzi schm since you will be taxed in the future to pay to retire the bonds that will pay your SS. Which hand is the ball in?
Jimmy Carter - Give SS to new Immigrants that were older even though they never paid into the fund. Great deal. Come the USA when your 65 and become a citizen, never pay into SS yet draw it the rest of your life.
Bill Cliton - Let's tax SS income. If you chose to work past 65 you are penalized for this.
Notice anything about these three presidents that is common? The same party that claims they are for "saving" SS.
Baby Boomers - SS will pay all of my retirement- I deserve to live like a king with all my toys and vacations. Why save for the future? I am not responsible for myself. The Government owes me.
1. Government needs to get the program back to the original plan and not use it to buy their votes. You don't pay in you don't collect. That simple. Increase number of quaters needed to be able to draw SS. It is a supplemental income (not someone's entire retirement). Government needs to pay back what the Government borrowed from the fund over time (but not by taxing us more).
2. Adjust the program to deal with longer life span for people. Yes that means possibly increasing the age for retirement. Limit COLAs to return on investiment. If the bonds only make 1% then that is the increase in COAL.
3. Put representatives, senators, president, govt. executives and civil service on SS plus a 401K like the rest of us. Bet it will get fixed then. They have no skin in the game to keep the SS healthy and every reason to rape it to buy votes.
4. Control the largest risk to all of us. Medical cost. NO the Affortable Care Act (ACA) was only that in name and did not address controlling cost. Only assigned who whould pay for health care in the future (allowed Government to tax even more and pass cost off to others). Limit tort (scr*w the lawyers) and make the medical profession police itself better. If ACA is great the same thing as item #3 above applies. No special retirement or medical care for politicians and government workers. We all get the same thing. SS, 401K with minimal match and ACA. Laws that only apply to part of the citizens are not laws.
Amazing how simple math eludes our leaders and most people.
It simply cannot keep working the way it is. If it is not fixed look for the large crash in the economy in the near future.
#23 Mar 14, 2013
Why not just kill social security and medicare? You save your own money and reduce the size of govt. Really, is there. Any guarantee there? Don't pay in, don't collect, take care of yourself. If you save, you live, if you don't you die. Simple math, I agree.
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