• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Social Security to start cashing Uncle Sam's IOUs

USA-1 said:
Boomers are just barely beginning to collect their SS benefits. It was the Greatest Generation that paid hardly anything into it yet have been collecting benefits for 40 years, much more than they paid into it. They have burned through all that money not the boomers. Try and cut their benefits and they will be the ones up in arms.

I know the democrats will never do anything about it but the republicans had 6 years to make some changes and totally blew their chance.
Click to expand...

Yep, that's why I said politicians.

I do not single out one group of politicians when both are at fault.
The fact remains that Boomers had an opportunity to leave this country better than how they received it.

They have failed us when it comes to the national budget and debt.
 
MrVicchio said:
The only real solution economically is to just announce SS is dead, sorry no more payments.

Of course, people would completely freak out at that. Despite teh fact that keeping this going is just going to destroy the country... "I want mines". We're the generation that's gonna get FUBAR'd by SS.

I say bring on the fall at this point. Those ****ing idiots in DC pass this monstrosity called "Healthcare Reform" and the USA will collapse financially. Greed, kills.
Click to expand...

No, the solution is to not start unnecessary costly wars, stop bailouts of Banks, Insurance companies and corporations,, stop government subsidies, cut SS benefits, eliminate pork projects, remove the SS cap, eliminate the fraud and only pay SS to those that need it.
 
Harry Guerrilla said:
Yep, that's why I said politicians.

I do not single out one group of politicians when both are at fault.
The fact remains that Boomers had an opportunity to leave this country better than how they received it.

They have failed us when it comes to the national budget and debt.
Click to expand...

Clinton left this country better than when he received it. Bush did not. Obama will not.
 
Harry Guerrilla said:
Andrew Jackson was the last president to pay off the national debt.

Any romanticism of Clinton or Reagan, any person who pretended to do greatness is false.
Click to expand...

Not greatness, Not romanticism. Clinton just left it better than when he started. Reagan started us on the road to maximum deficit spending. No greatness there.
 
Erod said:
I'm only 43. I'll be 90 by the time I get mine. LOL
Click to expand...

Why are you worried about it? You have plenty of time to save for your future.
I have never relied on SS for my retirement. If it's there, fine. If not, I have taken the steps to survive without it.
 
donc said:
With every post you make you confirm to the fence setters that you’re the biggest partisan hack on DP. Keep up the good work. :thumbs:
Click to expand...

Care to explain how I'm wrong instead of just throwing out personal attacks and avoiding what I posted?
 
donc said:
The new seventy in now eighty.:2wave:
Click to expand...

lol

If I had to rely at all on SS, I would not be able to retire until I was 90.

Then I guess my 41 is the new 21? I wish! :mrgreen:
 
Moderator's Warning:
Why oh why must we post the same thing over and over and over again in thread after thread after thread? Debate the topic and not the poster. Cease with the personal attacks. Thread bans and/or infractions will follow if this continues.
 
USA-1 said:
Why are you worried about it? You have plenty of time to save for your future.
I have never relied on SS for my retirement. If it's there, fine. If not, I have taken the steps to survive without it.
Click to expand...

Because, when it's said and done, I will have paid hundreds of thousands of dollars out of my check to take care of others, and the big government has used it elsewhere for things it wasn't intended for.

There will be hell to pay one day over this.
 
Erod said:
Because, when it's said and done, I will have paid hundreds of thousands of dollars out of my check to take care of others, and the big government has used it elsewhere for things it wasn't intended for.

.
Click to expand...

Like wars, nation building and Wall St bailouts? Hundreds of thousands of dollars paid in? How much do you make?
 
Last edited:
USA-1 said:
Like wars, nation building and Wall St bailouts? Hundreds of thousands of dollars paid in? How much do you make?
Click to expand...

SS takes 12.4% out of every dollar you earn. You don't think that adds up to well over "hundreds of thousands of dollars" in the average person's lifetime? If someone makes $50k a year on average from age 20 until age 65, they will have paid $279,000 into Social Security.

One of the biggest problems with these programs is that people don't really understand how much it costs them.
 
RightinNYC said:
SS takes 12.4% out of every dollar you earn. You don't think that adds up to well over "hundreds of thousands of dollars" in the average person's lifetime? If someone makes $50k a year on average from age 20 until age 65, they will have paid $279,000 into Social Security.

One of the biggest problems with these programs is that people don't really understand how much it costs them.
Click to expand...

You pay 6% into SS. 6% of 50k is $3000. Work 40 years and you will have paid 120k.
 
Harry Guerrilla said:
You think the part that your employer pays doesn't count?

That is part of your compensation you never get.
That isn't including interest.
Click to expand...
But you don't pay it.
You really think your employer would give that extra money to you?
 
USA-1 said:
You pay 6% into SS. 6% of 50k is $3000. Work 40 years and you will have paid 120k.
Click to expand...

Perfect example of my second point.

Do you think that the 6% that your employer is responsible for comes out of thin air? If your employer were not responsible for paying 6.2% of your salary into social security, then you would be receiving something close to 6.2% of your salary in additional compensation.
 
RightinNYC said:
Perfect example of my second point.

Do you think that the 6% that your employer is responsible for comes out of thin air? If your employer were not responsible for paying 6.2% of your salary into social security, then you would be receiving something close to 6.2% of your salary in additional compensation.
Click to expand...

You really believe that?
 
USA-1 said:
You really believe that?
Click to expand...

USA-1 said:
But you don't pay it.
You really think your employer would give that extra money to you?
Click to expand...

Are you serious? That's sort of how a free market works.

Using your logic, why would any company pay you more than $5/hour? I mean, as long as every company does that, then it's not possible for you to make more.
 
RightinNYC said:
Are you serious? That's sort of how a free market works.

Using your logic, why would any company pay you more than $5/hour? I mean, as long as every company does that, then it's not possible for you to make more.
Click to expand...

That 6% would go towards profits. They would not give it back to you. You have your wage already set.
 
USA-1 said:
Like wars, nation building and Wall St bailouts? Hundreds of thousands of dollars paid in? How much do you make?
Click to expand...

Not important, but I have paid the maximum for the past 16 years. By the way, so has my wife. It adds up to a lot of dough, and I doubt we'll see any of it unless they release the cap, which will mean I'll have paid over a million by then.

It's such a crock.
 
USA-1 said:
That 6% would go towards profits. They would not give it back to you. You have your wage already set.
Click to expand...

Yes, and as everyone knows, wages are immutable.

Let's try a hypothetical and see if that gets us anywhere:

Pretend that tomorrow, the government announced that instead of you and your employer each being responsible for 6.2% of the SS tax, employers would be responsible for the full 12.4%. You currently earn $100k.

What do you think would happen to your salary?
 
USA-1 said:
But you don't pay it.
You really think your employer would give that extra money to you?
Click to expand...

Absolutely they would.

If it weren't for all sorts of risk liability insurances, taxes, turnover costs, etc, we'd all make more.

Companies gladly pay good people well, as long as they are hitting their margins and reward outweighs risk.
 
fica taxes every individual at the rate of 7.65%, MATCHED BY YOUR EMPLOYER

FICA Tax

for some poor schmuck making 40G that's exactly $6120 per year

or exactly $510 per month

FOR RETIREMENT!

everyone knows that if a twenty-something were to put aside even $100 a month, every month, for the 50 or so years of his or her working life, DUE TO THE ALMOST NECROMANCICAL POWERS OF COMPOUND INTEREST, he or she would be retiring a MILLIONAIRE by age 60

instead, soc sec takes FIVE TIMES that

and it's BANKRUPT

there's GOVT AT WORK for you

if you're lucky enough to make it to their ever increasing and sneakily arrived at RETIREMENT AGE soc sec will pay you back some paltry sum like $1200 or $1300 a month

arithmetic-challenged apologists of THIS GREATEST BOONDOGGLE IN HUMAN HISTORY are quick to advise that you're gonna need to put a little EXTRA aside

soc sec is a SUPPLEMENT, it's not to be RELIED UPON as a bonafide retirement plan, they warn

BUT AT $1020 A MONTH OUT OF POCKET OFF THE TOP EXACTLY HOW IS A YOUNG COUPLE SPOSED TO COME UP WITH THAT LITTLE SURPLUS UNCLE SAM URGES UPON YOU?

ironically, those MOST RIPPED OFF by this favorite failed EXPERIMENT of franklin deficit roosevelt's are AFRICAN AMERICAN MALES

they pay in, pay in, pay in, all their lives and sadly, tragically, often don't survive long enough to RECOUP their investments

if you pass early, the govt LARGELY keeps the whole thing

and even at THAT the system's bankrupt

the great jack kemp, quarterback of the buffalo bills and loser bob dole's veep candidate in 96, made soc sec reform his #1 baby probably in honor of so many of his heroic teammates

kemp was always talking about the massive ripoff soc sec stole from african americans

may he rip
 
You must log in or register to reply here.
Back
Top Bottom