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Thread: Social Security Fund to Be Empty by 2037

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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by Guy Incognito View Post
    The premise is that there is a moral obligation from the government to the beneficiaries of SS.
    astonishing

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    Re: Social Security Fund to Be Empty by 2037

    If your goal is to destroy the faith that the American people have in government itself, allow Social Security to continue and eventually go broke. I can think of nothing that would shatter the social contract more than this one move.
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    Re: Social Security Fund to Be Empty by 2037

    What I find odd is that no mentions that the baby boomers will have started to die off in droves by 2037, hence cutting amount needed. The first baby boomers will be 90 by 2037 and the "youngest" will be 73... So unless our average age is gonna explode up, then the baby boomers will start to die off very soon, and minimizing the problem in the long term.
    PeteEU

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    Re: Social Security Fund to Be Empty by 2037

    Formula: Do nothing about increasing numbers of illegals known for not paying into the soicial security fund + the fund is already loaned out ie., empty! + Americans are living longer drawing more than before from the now enpty pot + increasing number of jobs leaving the U.S.
    Result: An overthrow of capitalism or to put it another way; the end of America as we know it. I don't care because I'm 63 so I'll selfishly take my money and die not caring about people behind me. God Bless America!
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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by PeteEU View Post
    What I find odd is that no mentions that the baby boomers will have started to die off in droves by 2037, hence cutting amount needed. The first baby boomers will be 90 by 2037 and the "youngest" will be 73... So unless our average age is gonna explode up, then the baby boomers will start to die off very soon, and minimizing the problem in the long term.
    Baby boomers lived pretty hard. They will die off pretty fast.

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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by Dirty Harry View Post
    SS bankrupt? There was plenty of revenue for SS until the government stole it to pay for things like wars and stuff.
    I agree. Gov't should keep its mitts out of it.

    Quote Originally Posted by Dirty Harry View Post
    It's funny how some parrot the "ponzi scheme" argument when the SS program does not fit the definition of ponzi scheme. It's a government program not a fraudulent con game. It was adaquately funded until the rest of the government robbed it and the numbers can be adjusted to make it solvent forever.
    It IS a ponzi scheme. Just because its transparent and gov't run doesn't make it fit the description any less so. A ponzi scheme is simply a system where you have more people putting into an account than you have taking out so as to pay out early investors.

    SS only works if there is more people putting in than the people who are taking out. So it ONLY works if there is a constant population increase. Its EXACTLY the same system as a ponzi scheme except its a federally enforced scheme.

    The main problem is that SS money does not generate any money besides what is put in my people. Most ponzi schemes invest the money, and are usually only caught when the investments go sour. SS is just a really bad ponzi scheme because there is no investment, there is no net gain and usually a net loss due to inflation.
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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by scourge99 View Post

    It IS a ponzi scheme. Just because its transparent and gov't run doesn't make it fit the description any less so. A ponzi scheme is simply a system where you have more people putting into an account than you have taking out so as to pay out early investors.

    SS only works if there is more people putting in than the people who are taking out. So it ONLY works if there is a constant population increase. Its EXACTLY the same system as a ponzi scheme except its a federally enforced scheme.
    .
    Wrong. The numbers can be easily adjusted to make up for fluctuations in population growth. Where is it written in stone that benifits must increase or remain constant? More recipients, fewer contributors, lower benifits If the government hadn't robbed the surplus and that money put in safe, conservative investments there would have been plenty of money to cover future benefits and fluctuations in population.
    SS is not even close to being a ponzi scheme no matter how many times it's repeated. The problem with SS is that money collected was used to pay for other things.

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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by Dirty Harry View Post
    Wrong. The numbers can be easily adjusted to make up for fluctuations in population growth.
    what numbers will be adjusted?? You mean increase taxes so that people put more money in so people taking out now get paid? That doesn't solve the problem at all, it just makes it worse by pushing the problems down the road! That's what got us into this mess to begin with.

    The problem is SS doesn't generate money. In fact, inflation and rising costs for living make the money worth less.

    Quote Originally Posted by Dirty Harry View Post
    Where is it written in stone that benifits must increase or remain constant?
    so you screw the people who put in 20 years ago? So if I contributed $100k in my life to SS, you'll only give me $50k to makeup for the losses??

    Quote Originally Posted by Dirty Harry View Post
    More recipients, fewer contributors, lower benifits If the government hadn't robbed the surplus and that money put in safe, conservative investments there would have been plenty of money to cover future benefits and fluctuations in population.
    its NOT invested, that's why its a really bad version of a ponzi scheme.

    Quote Originally Posted by Dirty Harry View Post
    SS is not even close to being a ponzi scheme no matter how many times it's repeated. The problem with SS is that money collected was used to pay for other things.
    The problem is not just that the money is spent its that SS would not generate money even if it wasn't spent.

    Wasn't that part of the whole debate about privatization? That if it was privatized then companies could actually generate money with the funds?
    If you believe in the Supernatural then you can become a millionaire!

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    Re: Social Security Fund to Be Empty by 2037

    Calling all young people:

    Start lining up for the yoke and harness. Be orderly. Be quiet.

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    Re: Social Security Fund to Be Empty by 2037

    Quote Originally Posted by Albert Di Salvo View Post
    Calling all young people:

    Start lining up for the yoke and harness. Be orderly. Be quiet.
    They said the same thing 30 years ago when I was a young person. Reagan just made a few adjustments and we were back on track.

    http://www.reagan.utexas.edu/archive...983/42083a.htm
    Last edited by Dirty Harry; 02-01-11 at 05:13 PM.

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