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Message
re: This plan would save social security *and* reduce elderly poverty. Your thoughts?
Posted on 2/26/26 at 11:36 am to La Place Mike
Posted on 2/26/26 at 11:36 am to La Place Mike
quote:Fair enough. Apologies. So you were a 12.4% contributor as well.
Yes, I have had employees.
quote:I'd not be shocked at all. The same is true of paycheck tax withholdings. It is amazing the number of employees who over-withhold and then revel when they get a refund come tax time. However, they would become acutely aware if we ever actually did away with SS and their employer tried to pocket the 6.2%.
You would be shocked the at the amount of people that don't know their employer pays that extra 6.2% FICA tax
1
Posted on 2/26/26 at 11:46 am to NC_Tigah
quote:
Fair enough. Apologies. So you were a 12.4% contributor as well.
Just stop with the Meansonny impersonation.
quote:
However, they would become acutely aware if we ever actually did away with SS and their employer tried to pocket the 6.2%.
I don't disagree.
Question. If SS never existed would wages automatically be 6.2% higher today?
Posted on 2/26/26 at 11:56 am to Diamondawg
They are absolutely welfare programs.
That money people paid in is sent right back out to current beneficiaries.
What happens to those "benefits" when someone dies before they can collect? Can they put it in a will?
It's not "your money". Government has done masterful job at making people believe it is.
That money people paid in is sent right back out to current beneficiaries.
What happens to those "benefits" when someone dies before they can collect? Can they put it in a will?
It's not "your money". Government has done masterful job at making people believe it is.
Posted on 2/26/26 at 11:57 am to Freauxzen
quote:Factually, politicians probably couldn't touch SS for retirees or near-retirees even if they wanted to. The effort would almost assuredly get shutdown in the courts. That's one reason alterations in the program always exclude folks 55 and older.
You know politicians won't touch SS because you'll all make them face the wrath.. SO either 1) The sham continues as long as it can until it breaks, or we continue to have to import people to solve it or 2) We spread the fix around and everyone takes a hit or 3) One group probably takes a massive hit.
W, a "Boomer," proposed privatizing Social Security in 2004. His proposal would have allowed younger workers to divert a portion of their Social Security payroll taxes into personal investment accounts, where the funds could be invested in stocks and bonds. It was an agenda centerpiece and would have been a boon to younger Americans.
The plan faced extreme opposition from Democrats who raised concerns about the "transition costs" (which they estimated in the trillions of dollars)," and their and their sycophant media which wailed about all sorts of callous cruelty on the part of GOP proponents. The proposal never came to a vote and effectively died in Congress by mid-2005.
"Transition costs" translates to Congress objecting to the loss of SS's debt financing revenue.
Posted on 2/26/26 at 12:09 pm to stuntman
quote:Were that true, there would not be a $2.5T surplus, nor any need for the SSTF.
They are absolutely welfare programs.
That money people paid in is sent right back out to current beneficiaries.
Posted on 2/26/26 at 12:19 pm to NC_Tigah
Straight from the horse's mouth;
ssa.gov
quote:
The current Social Security system works like this: when
you work, you pay taxes into Social Security. We use the
tax money to pay benefits to:
• Retired workers
• Workers with qualifying disabilities
• Survivors of deceased workers
• Dependent spouses and children of beneficiaries
The money you pay in taxes isn’t held in a personal
account for you to use when you get benefits. We use
your taxes to pay people who are getting benefits right
now. Any unused money goes to the Social Security trust
funds, not a personal account with your name on it
ssa.gov
Posted on 2/26/26 at 12:38 pm to stuntman
quote:The horse is an arse, and a lying one at that. I've laid out why.
Straight from the horse's mouth
The SSA has every reason in the world to mischaracterize its program as a retirement BENEFIT. It isn't!
Upper level contributors are underwater in real ROI, and that is pretax.
Stop believing SS is anything other than WTF it is.
Not 1¢ of monies accounting for the current SSTF IOU has been spent on anything related to SS. Not a penny. Despite the lies you just quoted.
SS is a government borrowing program. Nothing more. It is the cheapest, most reliable borrowing program the government has at its disposal. E.g., SSA ROI significantly lags 30yr Treasuries. With a debt at $40T, and huge budgetary deficits for the foreseeable future, the Feds will fight tooth and toenail to not only preserve SS, but expand it.
Posted on 2/26/26 at 12:47 pm to NC_Tigah
I think we're talking past each other, and admittedly, I haven't read this whole thread. Are you for it's existence or not?
Posted on 2/26/26 at 1:01 pm to dickkellog
quote:
anybody with even ounce of talent and ambition has found their way out of the middle class.
That's hilariously false. And demonstrably false.
Posted on 2/26/26 at 1:38 pm to HailHailtoMichigan!
here's the kid that wrote that piece dominic pino he works national respew he's 4 and has a degree in nose picking!
this is a great idea i've paid in the maximum into the program since i was 26, last year i paid social security on a 176k, that's a 16k increase from 2024. i'm now paing twice what i paid in for the same $5400 a month benefit if i wait till age 70 to take it than just 10 years ago. now that i'm 64 you want to cut my benefit in half and continue to pay in the maximum so that everybody gets 32k a year! "from each according to his ability, to each according to his needs"
that's great kid, i've got a great house too, 4-3 3000 sqft on a half acre lot, custom built mid century modern in 1960. when we complete the bath room's and master renovations and replace the HVAC it will be a complete to the studs renovation. maybe you should just seize my house and give it to deserving millennial or gen z'er so they can experience the joy of homeowner ship! after all 3000 sqft is a lot of space for just two people!
this is a great idea i've paid in the maximum into the program since i was 26, last year i paid social security on a 176k, that's a 16k increase from 2024. i'm now paing twice what i paid in for the same $5400 a month benefit if i wait till age 70 to take it than just 10 years ago. now that i'm 64 you want to cut my benefit in half and continue to pay in the maximum so that everybody gets 32k a year! "from each according to his ability, to each according to his needs"
that's great kid, i've got a great house too, 4-3 3000 sqft on a half acre lot, custom built mid century modern in 1960. when we complete the bath room's and master renovations and replace the HVAC it will be a complete to the studs renovation. maybe you should just seize my house and give it to deserving millennial or gen z'er so they can experience the joy of homeowner ship! after all 3000 sqft is a lot of space for just two people!
Posted on 2/26/26 at 2:03 pm to stuntman
quote:Not remotely!
Are you for it's existence or not?
But unfortunately, when you understand the program is actually designed to heavily benefit Uncle Sam rather than retirees, you understand the chance of getting rid of it is far lower than the chance of getting a Balanced Budget Amendment.
Posted on 2/26/26 at 2:10 pm to Tigertittie
quote:
I don't have a problem with this, give everyone the same
I’ve said many times that I will have my money returned, by hook or by crook. And I will.
Any changes introduced by the marxist infested US government won’t surprise me. It just means it’ll take longer to get my money back.
Posted on 2/26/26 at 5:14 pm to La Place Mike
employers are not paying it to the employee dummy
they're paying it to the treasury, but it's not theirs anymore after that
the treasury "keeps it" (actually they spend it on war) on behalf of the employee's SS behalf
they're paying it to the treasury, but it's not theirs anymore after that
the treasury "keeps it" (actually they spend it on war) on behalf of the employee's SS behalf
This post was edited on 2/26/26 at 5:16 pm
Posted on 3/4/26 at 10:11 pm to La Place Mike
quote:
That was my point nothing more nothing less but in your quest to always prove how smart you are and to always be right you tried to make it about something else with your "technical" gotchas. It's your MO.
You will respond to this reply with more drivel because you think having the last word means you win the argument. Go ahead. Make yourself feel better.
Reading this, one would think that I bent your wife over in front of you.
I have no clue what i did to you.
But it must have been glorious.
You have suffered a serious trauma that has left you with no filter or awareness about it.
If this place isn't healthy for you, stay away. Honestly.
Posted on 3/4/26 at 10:16 pm to HailHailtoMichigan!
SS is a shitty return on investment. Had that same money been put into a general stock index, the payout would have been 4 or 5 times more. Much of the time the SS "Trust Fund" pays interest below the rate of inflation. That's quite a racket.
Posted on 3/4/26 at 10:20 pm to HailHailtoMichigan!
Give me every dime of my contributions back and they can do whatever they want.
Posted on 3/4/26 at 10:21 pm to HailHailtoMichigan!
Social security was a lie from the start because the taxes you pay on it go directly into the general fund to be spent like any other revenue. SS payments are unfunded liabilities. Allow younger people to opt out and invest in their own retirement accounts.
This post was edited on 3/4/26 at 10:25 pm
Posted on 3/4/26 at 10:21 pm to Auburn1968
quote:
quote:
Retirement age in 1940 was 65.
Average life expectancy was under 60.
That number is skewed by infant and childhood mortality rates.
So is the current average life expectancy.
You just defined average life expectancy.
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