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Thread: Social Security Fund to Be Empty by 2037

  1. #51
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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by Dirty Harry View Post
    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.
    AMEN Brother Harry... Amen. Lets do that and do it ASAP.
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    Re: Social Security Fund to Be Empty by 2037

    it's solved!

    LOL!

    baby boomers beam!

    bottom line---500 a month in (for LOW earners) for 40 to 50 years, 1000 a month out for those lucky enough to make it to 67 (or 69, or 70, or whatever the engineers ultimately determine) for as long as a retiree can hang on

    even a low earner would have to survive to 120 just to break even

    and soc sec is still upside down

    realists realize, in addition, that "contributions" are gonna have to go up, while benefits eventually must be cut

    a program in need of such draconian FIX is no success

    it's a tragedy
    Last edited by The Prof; 01-30-11 at 12:41 PM.

  3. #53
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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by The Prof View Post
    it's solved!

    LOL!

    baby boomers beam!

    bottom line---500 a month in (for LOW earners) for 40 to 50 years, 1000 a month out for those lucky enough to make it to 67 (or 69, or 70, or whatever the engineers ultimately determine) for as long as a retiree can hang on

    even a low earner would have to survive to 120 just to break even

    and soc sec is still upside down

    realists realize, in addition, that "contributions" are gonna have to go up, while benefits eventually must be cut

    a program in need of such draconian fixing is no success

    it's a tragedy
    The American people have heard the constant whining from the right wing extremists and two-thirds of them know how to fix this problem. Pop the cap, freeze benefit levels, say hello to the next seven decades of a safe and sound program.
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    Re: Social Security Fund to Be Empty by 2037

    1. tell it to barack

    2. soc sec was never sposed to be a welfare program

    3. another fundamental promise unfulfilled

    4. 500 a month in, for low earners, for a lifetime

    5. 1000 a month back for those who make it to whatever the newest, most recently revised retirement age turns out to be

    6. if the program were a success it would not be in such desperate need of such dire remediation
    Last edited by The Prof; 01-30-11 at 12:31 PM.

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    Re: Social Security Fund to Be Empty by 2037

    from the soc sec website:

    Most financial advisors say you'll need about 70 percent of your pre-retirement earnings to comfortably maintain your pre-retirement standard of living. If you have average earnings, your Social Security retirement benefits will replace only about 40 percent. The percentage is lower for people in the upper income brackets and higher for people with low incomes. You'll need to supplement your benefits with a pension, savings or investments.
    Retirement Planner: Learn About Social Security Programs

    fair enough, mr secretary

    but exacly how are shania and deshawn gonna SUPPLEMENT when they're outta pocket, as a dual earning young couple with 2 daughters, sasha and malia, a cool THOUSAND A MONTH off the top?

    think about it, mr secty

    in other words, get real

  6. #56
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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by Dirty Harry View Post
    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.
    Not a fan of this because it would hurt me drastically :3
    I'm already going to pay in more to SS than I take out, even with the cap.

    SS was never meant to be a welfare program.

  7. #57
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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by iamitter View Post
    I'm already going to pay in more to SS than I take out, even with the cap.

    .
    Life isn't alway fair.
    My Dad died at 60 and never collected a dime. But he was glad SS existed so he didn't have to worry about surviving in the future.

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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by Dirty Harry View Post
    Life isn't alway fair.
    My Dad died at 60 and never collected a dime. But he was glad SS existed so he didn't have to worry about surviving in the future.
    Yes, but see, SS wasn't meant to be a welfare program. I have no problems with welfare or supporting those who can't literally can't support themselves (mentally ill, disabled, etc.), but SS was just meant to be a retirement savings plan.
    It ended up being great for the first generation or two at the expense of every generation after that.
    I have a different retirement plan and I don't need SS. If you're going to make it a welfare program, take the $6,621.60 from me - I won't collect any of it at the end. Just let me use the rest of my money to make my own plan.

    Removing the cap would stop any masquerade of SS being a retirement plan.

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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by iamitter View Post
    Removing the cap would stop any masquerade of SS being a retirement plan.
    The robbing of the SS trust by the government and spending the money on other things already proved that.

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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by Dirty Harry View Post
    The robbing of the SS trust by the government and spending the money on other things already proved that.
    I agree with you here. We probably wouldn't need to reform SS if every president to date hadn't stolen from the SS fund and actually invested and conserved it like they were supposed to.

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