Page 10 of 23 FirstFirst ... 8910111220 ... LastLast
Results 91 to 100 of 229

Thread: Social Security reserves forecast to run dry in 2022

  1. #91
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 11:42 PM
    Gender
    Lean
    Independent
    Posts
    16,254

    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Chiefgator View Post
    ok, So what happens when the money that is coming in cannot maintain the outflow?
    Then we have to reform the program e.g. increasing FICA contributions from both employees and employers. Shifts in demographic patterns are sure to disrupt previous legislation, and therefore reform should always be open to debate when these shifts begin to take shape.

    Something interesting to note. Most recent actuarial models show that recipients on the higher income end tend to draw more from the SS fund than low income recipients for a rather obvious reason... they live much longer!
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  2. #92
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 11:42 PM
    Gender
    Lean
    Independent
    Posts
    16,254

    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by j-mac View Post
    No I think you have it. In fact I would be happy if they did away with it and gave my money back to me so that I could invest it myself.


    j-mac
    And if you don't? Or say you become ill to the point where your expenditures hit your insurance cap; are you willing to die to preserve money you cannot take with you (pre-medicare)?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  3. #93
    Sage

    Join Date
    Sep 2010
    Last Seen
    Today @ 02:39 PM
    Lean
    Undisclosed
    Posts
    89,853

    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by j-mac View Post
    No I think you have it. In fact I would be happy if they did away with it and gave my money back to me so that I could invest it myself.


    j-mac
    You make the fundamental mistake of thinking of Social Security as an individual retirement account. In a way, there is something of that as one component of it. However, do look at it in those limited terms is to intentionally and deliberately ignore the broader SOCIAL aspects of the program as it applies to the much larger and broader society. I have previously linked to evidence that the namers of the program gave it the name change they did just for those reasons.
    Last edited by haymarket; 02-19-12 at 12:48 PM.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  4. #94
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Today @ 12:51 PM
    Gender
    Lean
    Conservative
    Posts
    30,274

    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Kushinator View Post
    And if you don't?
    If I don't what? invest it? That would be my problem wouldn't it?

    Or say you become ill to the point where your expenditures hit your insurance cap; are you willing to die to preserve money you cannot take with you (pre-medicare)?
    Wait a minute....How is it a "Libertarian" is concerned with what I do with MY money?


    Then we have to reform the program e.g. increasing FICA contributions from both employees and employers.

    Contrabutions? It is a tax. Taxes are not contrabutions, they are taken by the force of government. And your answer is to take more of MY money? How much of what I earn through MY own hard work, is mine?



    j-mac
    Last edited by j-mac; 02-19-12 at 12:59 PM.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  5. #95
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Today @ 12:51 PM
    Gender
    Lean
    Conservative
    Posts
    30,274

    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by haymarket View Post
    You make the fundamental mistake of thinking of Social Security as an individual retirement account.
    No, I really don't...I have a 401K, and an IRA backed by gold. But I would like to get back the money I've paid in since I was 15 years old....

    However, do look at it in those limited terms is to intentionally and deliberately ignore the broader SOCIAL aspects of the program as it applies to the much larger and broader society.

    So it is another wealth redistribution scheme based on a lie.

    I have previously linked to evidence that the namers of the program gave it the name change they did just for those reasons.
    Yep, progressives all...I think you know my opinion of them.


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  6. #96
    Sage
    MoSurveyor's Avatar
    Join Date
    Jan 2012
    Last Seen
    04-13-17 @ 04:36 AM
    Gender
    Lean
    Undisclosed
    Posts
    9,985

    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by j-mac View Post
    Wait a minute....How is it a "Libertarian" is concerned with what I do with MY money?
    I'm not concerned with your money, I'm more concerned about what WE will have to do with your living body when YOU can no longer afford to keep it alive.
    Mt. Rushmore: Three surveyors and some other guy.
    Life goes on within you and without you. -Harrison
    Hear the echoes of the centuries, Power isn't all that money buys. -Peart
    After you learn quantum mechanics you're never really the same again. -Weinberg

  7. #97
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 11:42 PM
    Gender
    Lean
    Independent
    Posts
    16,254

    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by j-mac View Post
    If I don't what? invest it? That would be my problem wouldn't it?
    No. That would become societies problem in the event you fail to adequately invest said proceeds properly.

    Wait a minute....How is it a "Libertarian" is concerned with what I do with MY money?
    Your red herring has no meaning. My political lean is of no consequence to this discussion.

    Contrabutions? It is a tax. Taxes are not contrabutions, they are taken by the force of government. And your answer is to take more of MY money? How much of what I earn through MY own hard work, is mine?
    You can play the game of semantics all you like. The fact of the matter is, shifts in demographics will render previous mandates incapable of meeting future demands. Therefore, greater contributions are required to offset ramifications of a low (relative) birth rate in the U.S..
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  8. #98
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 11:42 PM
    Gender
    Lean
    Independent
    Posts
    16,254

    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by mosurveyor View Post
    i'm not concerned with your money, i'm more concerned about what we will have to do with your living body when you can no longer afford to keep it alive.
    bingo!!!!!
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  9. #99
    Educator
    Chiefgator's Avatar
    Join Date
    Feb 2012
    Location
    Lake Jem, FL pop:35
    Last Seen
    05-08-15 @ 08:21 AM
    Gender
    Lean
    Independent
    Posts
    1,172

    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Kushinator View Post
    Then we have to reform the program e.g. increasing FICA contributions from both employees and employers. Shifts in demographic patterns are sure to disrupt previous legislation, and therefore reform should always be open to debate when these shifts begin to take shape.

    Something interesting to note. Most recent actuarial models show that recipients on the higher income end tend to draw more from the SS fund than low income recipients for a rather obvious reason... they live much longer!
    I know the reform is in order, and I thank you for providing me an example of a type of reform that is forthcoming. This still does not quell my anger over the fact that if the money was never taken out and put into the general fund, we would not need reform.
    As a dreamer of dreams and a travellin' man, I have chalked up many a mile.
    Read dozens of books about heroes and crooks and I've learned much from both of their styles!

  10. #100
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Yesterday @ 11:42 PM
    Gender
    Lean
    Independent
    Posts
    16,254

    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Chiefgator View Post
    I know the reform is in order, and I thank you for providing me an example of a type of reform that is forthcoming. This still does not quell my anger over the fact that if the money was never taken out and put into the general fund, we would not need reform.
    Reform is not needed due to the SS funds investment in U.S. Treasury securities. It stems primarily from two critical shifts in demographics: 1.) The countries birth rate is not what it once was, therefore the workers entering the "pool" do not equate to the amount of people leaving the "pool" (nor do their contributions match in any way what is being payed out). 2.) Middle class/upper middle class workers are living longer.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

Page 10 of 23 FirstFirst ... 8910111220 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •