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Thread: Social Security Payouts Are Already Crippling The Government This Year

  1. #31
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    Re: Social Security Payouts Are Already Crippling The Government This Year

    Quote Originally Posted by justabubba View Post
    so, those generations who have aged with the government committment that social security benefits would be available to them upon retirement age are now just going to have to do without?
    a government which would do that to its people is not the government i want


    A government that steals money from its people is not the government I want.

    And I said 'phased out'.

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    Re: Social Security Payouts Are Already Crippling The Government This Year

    Quote Originally Posted by rivrrat View Post
    A government that steals money from its people is not the government I want.

    And I said 'phased out'.
    so, you are OK with the government "stealing" your money to phase the program out
    at what point do you object to such "stealing"?
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  3. #33
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    Re: Social Security Payouts Are Already Crippling The Government This Year

    Quote Originally Posted by justabubba View Post
    so, you are OK with the government "stealing" your money to phase the program out
    at what point do you object to such "stealing"?
    I object to it at any point. And no, I'm not okay with them EVER stealing my money. To phase it out, they need only cut funding to OTHER unnecessary programs and divert it the dying SS program. And then phase it out. It never should have been started to begin with.

  4. #34
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    Re: Social Security Payouts Are Already Crippling The Government This Year

    Quote Originally Posted by justabubba View Post
    if the person making minimum wage is taxed on every dollar of that meager income
    why would you then exempt those who earn very high incomes from being taxed aboved $106,800?
    Because they don't need SS.
    They have the money to be completely independent of the system.

    For a matter of fact, practically all income levels have this oppurtunity.
    They just like to blow their cash on depresiating assets.
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    Re: Social Security Payouts Are Already Crippling The Government This Year

    Quote Originally Posted by justabubba View Post
    easy solution
    take the ceiling off. now set at $106,800
    tax the income above that level and social security becomes immediately solvent
    If you remove the cap and continue to index benefits to taxed income, then it does nothing to fix SS's problems, as liabilities increase in tandem with revenues.

    The only way it would improve the programs bottom line is if you removed the cap but eliminated the indexing of payments to benefits. Of course, that would fundamentally change the nature of SS, making it no different than any other income redistribution program that we already have.

    Furthermore, I've not seen any study indicating that this move would actually fix the unfunded liability in its entirety. Do you know of one?
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    Re: Social Security Payouts Are Already Crippling The Government This Year

    Quote Originally Posted by MrVicchio View Post
    No, it merely extends the life of a dead and dying program that should never have been created. Stealing from people isn't the answer.
    As my wife draws her SS.

    She is permanently disabled.

    We would likely lose our house if she looses her SS.

    That said,... I still agree with you Mr. V and I would find a way to survive without it.

    It never should have been created in the first place.

    The whole thing is a pyramid scheme. It relied on new generations coming in at the bottom at a faster rate than those dying at the top. If a private citizen or company tried it,... they would be rightfully jailed.
    Last edited by Chuz Life; 06-11-10 at 04:11 PM.

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    Re: Social Security Payouts Are Already Crippling The Government This Year

    Quote Originally Posted by Chuz Life View Post
    As my wife draws her SS.

    She is permanently disabled.

    We would likely lose our house if she looses her SS.

    That said,... I still agree with you Mr. V and I would find a way to survive without it.

    It never should have been created in the first place.

    The whole thing is a pyramid scheme. It relied on new generations coming in at the bottom at a faster rate than those dying at the top. If a private citizen or company tried it,... they would be rightfully jailed.
    And I have nothing but the utmost empathy for you and your wife. HOWEVER, SS should never have "Been". It's a Ponzi scheme doomed to collapse. Some people have realized this for years, and just ignored it. The bill WILL come due. The sooner we grow up, suffer the hell and move past it, the less painful it will be. When it becomes an emergency "Oh ****" situation, that's when things get REALLY bad.
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    Re: Social Security Payouts Are Already Crippling The Government This Year

    Quote Originally Posted by rivrrat View Post
    Neither. I want it eliminated and I want my money back so I can invest it the way I want to.
    Best investment idea is to pay off all your debt so you won't lose your house like so many have right after losing their jobs....
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  9. #39
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    Re: Social Security Payouts Are Already Crippling The Government This Year

    Quote Originally Posted by UtahBill View Post
    Best investment idea is to pay off all your debt so you won't lose your house like so many have right after losing their jobs....
    Wall Street is organized crime.
    Don't have a house, don't want one. Already working on getting out of debt and will be in less than 2 yrs.

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    Re: Social Security Payouts Are Already Crippling The Government This Year

    As someone who gets about $1500 per month from SS, I thank all of those who still have jobs for contributing to my income. That being said, I am doubtful that my kids will get much from it, or the grandkids. So I will be using the money to help put our grandkids thru college. Between my SS, USNR retirement, and a piddling retirement from my employer, I get enough to pay most of our daily expenses that support 2 houses and 3 cars. THEN, there is my wife's SS, teacher retirement, and the severance pay she gets for retiring early. Her retirement is almost twice mine. We use her money for annual cruises, annual family vacation, paying income and property taxes. We are currently finishing our 1800 sq. ft. basement, paying cash for everything as we go.
    Also, I thank the American economy, when we had one, that allowed us to earn, save, invest for about 30 years so we can live well now. We had only $8K and a paid for 3 year old dodge dart in 1977.
    But you younger folk out there, I guess I have to feel sorry for you. We no longer have the economy we need to sustain the American dream, and you will be the ones to suffer.
    All except the very rich, tho. They won't suffer. You can tax a billlionaire at 70% of his income, and he still has billions in assets that are not taxed. The very rich love to see the middle class paying so much, as it means they can buy another villa in the south of France, a condo in Greece, a bigger yacht, and even fly in whores for his birthday party.
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