Why it Matters: Social Security

Why it Matters: Social Security

There are 34 comments on the WLS-AM Chicago story from Sep 30, 2012, titled Why it Matters: Social Security. In it, WLS-AM Chicago reports that:

Unless Congress acts, the trust funds that support Social Security will run out of money in 2033, according to the trustees who oversee the retirement and disability program.

Join the discussion below, or Read more at WLS-AM Chicago.

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“It's a Brand New Day”

Since: Feb 06

New Rochelle

#22 Oct 1, 2012
Austinite wrote:
<quoted text>
I doubt SS will be around when I reach whatever age it will be to claim what I have paid into. I would not rely on it as my main source of income but yes, I would claim what is mine if and when the time comes. I too paid alot of taxes while I was in the military. I also pay alot of taxes on my rental properties.
My future is hopefully assured through my military pension but I also bought three houses in my time and rented them out, they are all paid off now by the renters over the years so I have that income as well.
I invested nothing in stocks and am glad for that.
I more or less work, managing my rental properties and making whatever repairs are needed. I used to have an agency do that while I was away but no need for that now.
My father died when aged 41 from a massive heart attack. He worked a full time good job and two part time jobs to make ends meet. His full time job offered a pension but he died well before he could collect a penny. My mother still works and collects a whopping $121.09 monthly of the pension from him. She is about to retire from where she works a good job, that offers no pension. In two years she can collect her SS, unless the government raises the age yet again. She will collect on his before then.
You just don't get it.

The money your mother gets, to retire on, will be paid by your children. It is not sitting somewhere, waiting to be paid out. SS is tax in, checks out. There is no 'investment fund.' No balance.

SS will continue. Don't let the FOXLIARS (or the uninformed) fool you. WHen your children pay in to support you and your mother,(and your military pension will be the same, it has the same guarantee as SS;) the money your chldren pay in will go out to your mom, and you.
These childen will want something back, for their payments into SS, so they wil demand that it continue to support them, retirees of tomorrow.

The solution is to raise the upper tax cutoff.
Austinite

Austin, TX

#23 Oct 1, 2012
Mr_Bill wrote:
<quoted text>
You just don't get it.
The money your mother gets, to retire on, will be paid by your children. It is not sitting somewhere, waiting to be paid out. SS is tax in, checks out. There is no 'investment fund.' No balance.
SS will continue. Don't let the FOXLIARS (or the uninformed) fool you. WHen your children pay in to support you and your mother,(and your military pension will be the same, it has the same guarantee as SS;) the money your chldren pay in will go out to your mom, and you.
These childen will want something back, for their payments into SS, so they wil demand that it continue to support them, retirees of tomorrow.
The solution is to raise the upper tax cutoff.
I get it completely, I am not so daft you know.
What SS takes in is what it pays out, it is month to month now. The problem is that less people are paying in and more people getting paid out. Bigger problem is that the Fed has bled it dry for other unrelated programs by treating it as a cash cow over the past 3 or 4 decades.
It is unsustainable unless there are more people paying into it than are taking out of it.
Actually likens to a ponzi scheme if you break it down.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#24 Oct 1, 2012
Austinite wrote:
<quoted text>
I get it completely, I am not so daft you know.
What SS takes in is what it pays out, it is month to month now. The problem is that less people are paying in and more people getting paid out. Bigger problem is that the Fed has bled it dry for other unrelated programs by treating it as a cash cow over the past 3 or 4 decades.
It is unsustainable unless there are more people paying into it than are taking out of it.
Actually likens to a ponzi scheme if you break it down.

The people 'taking out of it' aleady paid more, to the SS fund < the Social Security Trust Fund > that was set up to pay the Baby Boom retirement, and paid into by those same recipients. And that is what was borrowed from.

You might be pleased to know that much of the money 'borrowed' from Social Security was transfered to pay for increased military.

Do you suppose we should cut military pensons to pay back Social Security?

The alternative remains to increase the fund by raising the maximum SS income tax cutoff (limit.)

xnutmegger

Phoenix, AZ

#25 Oct 1, 2012
Mr_Bill wrote:
<quoted text>
The people 'taking out of it' aleady paid more, to the SS fund < the Social Security Trust Fund > that was set up to pay the Baby Boom retirement, and paid into by those same recipients. And that is what was borrowed from.
You might be pleased to know that much of the money 'borrowed' from Social Security was transfered to pay for increased military.
Do you suppose we should cut military pensons to pay back Social Security?
The alternative remains to increase the fund by raising the maximum SS income tax cutoff (limit.)
No , we should charge $1.00 to piss on LBJ's grave and see how much it raises.

You aren't out to fix SS , your just out to steal more from it.

Even Al Gore repeatedly said " Lockbox it ".Clinton wanted to try some things and so did Bush but LEFTY complains about stealing waht is already stolen...so much for LEFTY's opinion.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#26 Oct 1, 2012
xnutmegger wrote:
<quoted text>
No , we should charge $1.00 to piss on LBJ's grave and see how much it raises.
You aren't out to fix SS , your just out to steal more from it.
Even Al Gore repeatedly said " Lockbox it ".Clinton wanted to try some things and so did Bush but LEFTY complains about stealing waht is already stolen...so much for LEFTY's opinion.
Goofball, the issue is that SS has obligations that will be paid.The money was paid in, and borrowed away, bit it will be paid out.

The question is how? From where, not pissing on graves.
davy

Albuquerque, NM

#27 Oct 1, 2012
What a shock, a republicunt telling lies and demonizing poor people. Did Jesus hate poor people too?
xnutmegger wrote:
<quoted text>
No , we should charge $1.00 to piss on LBJ's grave and see how much it raises.
You aren't out to fix SS , your just out to steal more from it.
Even Al Gore repeatedly said " Lockbox it ".Clinton wanted to try some things and so did Bush but LEFTY complains about stealing waht is already stolen...so much for LEFTY's opinion.

“All power to the people.”

Since: Mar 07

San Diego, CA

#28 Oct 1, 2012
PooPoo Platter wrote:
It "matters", in large part, because seniors vote. And hey don't take kindly to changes with Social Security.
Actually it matter because before the current system, lots of Seniors were eating cat food.
Austinite

Austin, TX

#29 Oct 1, 2012
Mr_Bill wrote:
<quoted text>
The people 'taking out of it' aleady paid more, to the SS fund < the Social Security Trust Fund > that was set up to pay the Baby Boom retirement, and paid into by those same recipients. And that is what was borrowed from.
You might be pleased to know that much of the money 'borrowed' from Social Security was transfered to pay for increased military.
Do you suppose we should cut military pensons to pay back Social Security?
The alternative remains to increase the fund by raising the maximum SS income tax cutoff (limit.)
I am all for people being taxed more for their future withdrawel from SS.
The military was but one recipient of the monies, it was spread over most goverment agencies. My pension was well earned so I would not like it decreased. I am pleased that it in fact increases with cost of living and inflation. In the next 10 years it is even likely to just about double to 5 figures a month.
The military contractors get billions to develop things for the military then grossly overcharge the military for the finished product. KBR and other corporations provide cooks to the mess halls that are paid 120K, government gives KBR 250K for the cook and the actual cook gets the 129K and KBR keeps the rest. Government hires mercenaries from Xe/formerly Blackwater and other "security contractor" for almost 500K a year and the mercenary gets on average 200K of that. The mercenary does what a PFC or other enlisted soldier does for 1/5th of the cost and so on. There lays the big problem with government/military spending.
I am all for universal healthcare but people have to realize they need to pay the taxes to have it.
I found it rather amusing that in 03 and even 04 soldiers in Iraq were rationed to 1 or 2 MREs a day and no more than 2 full rifle magazines, and virtually no body armor due to supply shortages in most areas of the country but supplies of toilet paper, condoms, bootlaces, porkskins, thermal underwear, and thumbtacks were arriving by the truck and plane loads.
xnutmegger

Phoenix, AZ

#30 Oct 1, 2012
davy wrote:
What a shock, a republicunt telling lies and demonizing poor people. Did Jesus hate poor people too?
<quoted text>
State what lies I posted ?

Verify with your HANDLERS .

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#31 Oct 1, 2012
Austinite wrote:
<quoted text>
I am all for people being taxed more for their future withdrawel from SS.
The military was but one recipient of the monies, it was spread over most goverment agencies. My pension was well earned so I would not like it decreased. I am pleased that it in fact increases with cost of living and inflation. In the next 10 years it is even likely to just about double to 5 figures a month.
The military contractors get billions to develop things for the military then grossly overcharge the military for the finished product. KBR and other corporations provide cooks to the mess halls that are paid 120K, government gives KBR 250K for the cook and the actual cook gets the 129K and KBR keeps the rest. Government hires mercenaries from Xe/formerly Blackwater and other "security contractor" for almost 500K a year and the mercenary gets on average 200K of that. The mercenary does what a PFC or other enlisted soldier does for 1/5th of the cost and so on. There lays the big problem with government/military spending.
I am all for universal healthcare but people have to realize they need to pay the taxes to have it.
I found it rather amusing that in 03 and even 04 soldiers in Iraq were rationed to 1 or 2 MREs a day and no more than 2 full rifle magazines, and virtually no body armor due to supply shortages in most areas of the country but supplies of toilet paper, condoms, bootlaces, porkskins, thermal underwear, and thumbtacks were arriving by the truck and plane loads.
I used military pensions juswt to tweaak you. I myself would attack any move to cheat our veterans.

In '03-04, that body armor was all allocated to the pprivate 'contractors' who I viewed as mercinaries; while our own soldiers went without. zI'm sure you know our guys atched their own armor systems onto their Humvees & trucks, as the good stuff went elsewhere. The worst offense in my opinion, was the use of US Marines in smphibious vehicles, rather than armored personell carriers. For thee entire time STOP LOSS was in effect, my 'slogan' was "END STOP LOSS."

I could go on, but you know better than I,
xnutmegger

Phoenix, AZ

#32 Oct 1, 2012
Mr_Bill wrote:
<quoted text>
I used military pensions juswt to tweaak you. I myself would attack any move to cheat our veterans.
In '03-04, that body armor was all allocated to the pprivate 'contractors' who I viewed as mercinaries; while our own soldiers went without. zI'm sure you know our guys atched their own armor systems onto their Humvees & trucks, as the good stuff went elsewhere. The worst offense in my opinion, was the use of US Marines in smphibious vehicles, rather than armored personell carriers. For thee entire time STOP LOSS was in effect, my 'slogan' was "END STOP LOSS."
I could go on, but you know better than I,
You should learn more before you post.

What APCs were available to the Marines to use , M-113s ?

Stop Loss is an extension beyond your normal discharge date and it appllied to everbody on active duty on Dec 7, 1941. One year NG'ers became " In for the duration " as did everyone else.

It was also used by JFK for 6 months in 1961.

The body armor the contractors used was non-military standard privately purchased .

You are accurate regarding vehicle armor.
E Pluribus Unum

Fishers, IN

#33 Oct 1, 2012
RustyS wrote:
Easy solution. Raise the retirement age to 97 for everyone born after 1960.
;)it"s part of auto-raise!!!;-000

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#34 Oct 1, 2012
xnutmegger wrote:
<quoted text>
You should learn more before you post.
What APCs were available to the Marines to use , M-113s ?
Stop Loss is an extension beyond your normal discharge date and it appllied to everbody on active duty on Dec 7, 1941. One year NG'ers became " In for the duration " as did everyone else.
It was also used by JFK for 6 months in 1961.
The body armor the contractors used was non-military standard privately purchased .
You are accurate regarding vehicle armor.
Thank you for the sorry, lame excuses, Mr Wolfowitz.
xnutmegger

Phoenix, AZ

#35 Oct 1, 2012
Mr_Bill wrote:
<quoted text>
Thank you for the sorry, lame excuses, Mr Wolfowitz.
Military history is my hobby.

I've forgotten more than you'll ever know.

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