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Thread: Social Security Fund to Be Empty by 2037

  1. #41
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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by Dirty Harry View Post
    everyone has to make a sacrifice for the good of the country.
    and sacrifice is so easy

    all it takes is 60 seconds to click and submit

    LOL!

  2. #42
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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by The Prof View Post
    and sacrifice is so easy

    all it takes is 60 seconds to click and submit

    LOL!
    Time for you to go back and play some video games. Your mom will have your lunch ready in a few minutes.

  3. #43
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    Re: Social Security Fund to Be Empty by 2037

    it's really just a simple matter of arithmetic, numbers being the ultimate in maturity

    social security taxes members 7.65%, matched by their employers

    for any schmuck making 40K per year, the payroll imposition comes in at exactly $6120 per annum, $510 per month

    for those earning 70K, it's $847 every 30 days

    young couples just starting out are being asked to pony up over $1000 per month for dual earners, every month for 40 or more years comprising a working career---for their retirements

    this is on top of rent, auto and gas and insurance, health care, income taxes...

    let alone new shoes for little shaniqua and shaquille

    if mom or dad is lucky enough to survive to that steadily and rather stealthily advanced eligibility age, she or he will receive in compensation for this immense investment, the better part of a lifetime's earnings, an average $1076 per month

    for those who can't quite make it to age 67, the system often keeps a good part of that mammoth investment

    if any one of us took even half that investment and put it in a simple savings account, we'd be looking at near million dollar retirements by the time we got to 66 years and 10 months, or whatever is your exact eligibility age, depending on when you were born

    in 1937, workers were taxed 1% of income and were due to receive benefits on their 65th birthday

    that promise played false

    any public program which can't keep its promises is perforce failed

    and this one comes up short by hundreds of thousands of dollars per person

    tragic

    FICA & SECA Tax Rates

    Retirement benefits by year of birth

    My Way News - Social Security now seen to run permanent deficits
    Last edited by The Prof; 01-30-11 at 12:51 AM.

  4. #44
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    Re: Social Security Fund to Be Empty by 2037

    There is a very simple and straight forward solution to the unfunded Social Security liabilities. Tax the young for the benefit of the old. Aren't entitlements wonderful?

    We need more senior centers. More Meals on Wheels. More Paratransit. Level out the sidewalks so we don't trip. America needs to get its priorities right. The seniors must come first at all costs. Seniors are America's most vulnerable and fragile demographic group.

    The young must accept subordination of all of their hopes and dreams to the care and comfort of America's seniors. It's their duty.

  5. #45
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    Re: Social Security Fund to Be Empty by 2037

    yes

    politically, it's not too far an overstatement to observe that seniors run this country (the united states)

    they vote, they have all the money and they know what's going on

    it's been that way for a long time

    for good and bad

    take care, all

    stay up

    try to reach your own maturity

  6. #46
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    Re: Social Security Fund to Be Empty by 2037

    This is the world's most overblown crisis. Social security is not in trouble. This is a manufactured crisis designed by people that hate the idea of social security.

    What we are talking about is something that is scheduled to happen 26 years from now. Even then, when social security "goes broke" it will still be in position to pay 75% of scheduled benefits. We have way more time to fix the issue the problem then we do most other problems... and if we don't, the downside is a 25% cut in benefits. Give us all a break.

    From the article: "....Social Security has built up a $2.5 trillion surplus since the retirement program was last overhauled in the 1980s. Benefits will be safe until that money runs out. That is projected to happen in 2037 -- unless Congress acts in the meantime. At that point, Social Security would collect enough in payroll taxes to pay out about 78 percent of benefits, according to the Social Security Administration.....'



    If only Washington worried about potential problems on a 30 year cycle we might actually have a functioning government. Instead, we react. On the Washington administrative calendar, this isn't an issue until 2040. Move on people, there is nothing to see here.

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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by upsideguy View Post
    this isn't an issue until 2040
    astonishing

  8. #48
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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by The Prof View Post
    astonishing
    Nicely taken out of context..... The full sentence said that its based on the typical Washington timetable for dealing with problems.

    On all fronts, however, it is not a serious issue in 2011, especially amongst those that see FICA as an off the books activity (you know who you are...., those that argued that Clinton never had a budget surplus because it included money borrowed from FICA.... if those people are now argue that FICA is in trouble, well you are talking out both sides of your mouth). The 2037 problem can be dealt with in so many ways.... its an easy fix and not something to worry now.
    Last edited by upsideguy; 01-30-11 at 11:32 AM.

  9. #49
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    Re: Social Security Fund to Be Empty by 2037

    not a serious issue in 2011...

    some people are talking outta both sides of their mouths

    easy fix... not something to worry now...

    taken outta context

    astonishing

  10. #50
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    Re: Social Security Fund to Be Empty by 2037

    1. CBO analysis shows that if all income were subject to the Social Security tax (as opposed to just the first $106,800), Social Security's trust fund would last through 2083. Given the imprecision of 75-year economic forecasts, that should be good enough for now.

    2. A poll conducted for USA Today by Gallup shows that 67% of Americans support lifting the cap on income subject to the Social Security tax.

    Problem solved. In fact, it was so easy to solve, it's really not much of a problem.

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