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Thread: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a future Am

  1. #101
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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by Taylor View Post
    That's a mathematical impossibility. Your generation already spent the money that should have gone toward your social security benefts on other things and now you want to double dip.

    As such, you're not asking us to "work just like you did," you're asking us to work a lot harder than you did AND to forego a much more sensible retirement solution than SS because you've been so irresponsible. And you want to paint *US* as the heartless ones.
    Actually, last generation spent their money paying for social security for the previous generation...just like we are currently paying for the previous generation. The concern is that we are reaching the tipping point where there will not be enough people or income tomorrow and in the futre for future generations. Social Security today is solvent. As I understand it it is expected to be solvent well into the 2020's. After that...unless there is massive change...not so much.
    Last edited by VanceMack; 04-13-11 at 12:35 PM.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by UtahBill View Post
    The problem with investing your SS funds in the stock market and hoping to have more retirement income is too obvious.
    Wall Street is not a level playing field.
    However voluntarily choosing to invest a portion of your SS investment in a secure market (similar to what congress currently invests in) remains a stable long term option. It impacts only the individual that opts in to such a program meaning only that individual assumes the risk.

  3. #103
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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by VanceMack View Post
    Actually, last generation spent their money paying for social security for the previous generation...just like we are currently paying for the previous generation> the concern is that we are reaching the tipping point where there will not be enough people or income tomorrow and in the futre for future generations. Social Security today is solvent. As I understand it it is expected to be solvent well into the 2020's. After that...unless there is massive change...not so much.
    not to worry, we will privatize and invest SS funds until all the money is gone, ending up in the pockets of the wealthy, the ones who are savvy investors.

    I am not in favor of a socialialistic economy, not until we try a few other things first.
    There should be substantial penalties for betrayal of the public trust. ANYBODY attempting to enrich themselves at the expense of the public, once caught, forfeits all he has accumulated, and goes to jail for at least 5 years, then on probation the rest of his life.
    Plus he can no longer work in any job that involves the handling or investing of money not actually his own.
    Oracle of Utah
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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by UtahBill View Post
    not to worry, we will privatize and invest SS funds until all the money is gone, ending up in the pockets of the wealthy, the ones who are savvy investors.

    I am not in favor of a socialialistic economy, not until we try a few other things first.
    There should be substantial penalties for betrayal of the public trust. ANYBODY attempting to enrich themselves at the expense of the public, once caught, forfeits all he has accumulated, and goes to jail for at least 5 years, then on probation the rest of his life.
    Plus he can no longer work in any job that involves the handling or investing of money not actually his own.
    The earlier privatization proposals involved giving people the option to invest as much as 3% of their total investment. 3%. No one knows what the solution is yet. People continue to rail against the proposed solutions while offering none themselves. madness is knowing what you are doing is killing you and yet being unwilling to do anything about it and bitching about those that are.

  5. #105
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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by VanceMack View Post
    However voluntarily choosing to invest a portion of your SS investment in a secure market (similar to what congress currently invests in) remains a stable long term option. It impacts only the individual that opts in to such a program meaning only that individual assumes the risk.
    we don't have a secure market...
    even Congress stood to lose if they let AIG fail, hence the bailout....
    Individuals cannot control risk once a crooked company has their money..by the time it is found to be crooked, a lot of individual investors have been robbed. The crooks steal a little from many, and over time, it adds up to grandma and grandpa having to work an extra decade.
    I invested for a few years with a brokerage connected to a large financial institution, and they cost me a lot of money giving out bad advice, some of which conflicted with current Wall street advice that I read in the Wall Street Journal.....
    Never again....
    Oracle of Utah
    Truth rings hollow in empty heads.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by VanceMack View Post
    Actually, last generation spent their money paying for social security for the previous generation...
    Sure, some of it.

    Quote Originally Posted by VanceMack View Post
    The concern is that we are reaching the tipping point where there will not be enough people or income tomorrow and in the futre for future generations.
    There's not enough money because they spent the surplus.

  7. #107
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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by VanceMack View Post
    The earlier privatization proposals involved giving people the option to invest as much as 3% of their total investment. 3%. No one knows what the solution is yet. People continue to rail against the proposed solutions while offering none themselves. madness is knowing what you are doing is killing you and yet being unwilling to do anything about it and bitching about those that are.
    In the book, a random walk down wall street, the author says that "long term, real estate is just as effective"....but that was before the current real estate market crash...
    when there is tons of money involved, the cockroaches gather....

    I have my methods, and they work for me....
    Oracle of Utah
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  8. #108
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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by VanceMack View Post
    The earlier privatization proposals involved giving people the option to invest as much as 3% of their total investment. 3%. No one knows what the solution is yet. People continue to rail against the proposed solutions while offering none themselves. madness is knowing what you are doing is killing you and yet being unwilling to do anything about it and bitching about those that are.
    madness is knowing that congress KNOWS how crooked Wall Street is, but does nothing about it....
    Insider trading still happens, stocks are touted by dishonest brokerage houses to suck in the small investors when the big investors want to sell, companies cook their books to look better than they are....
    Back before the big crash, 1929, media types were paid by check to tout stocks. Some of the reporters kept records. There was an obvious paper trail. After the crash, they had new rules. All that means is that the last method used to screw the public is harder to implement, so a new method needs to be created....
    Oracle of Utah
    Truth rings hollow in empty heads.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by UtahBill View Post
    we don't have a secure market...
    even Congress stood to lose if they let AIG fail, hence the bailout....
    Individuals cannot control risk once a crooked company has their money..by the time it is found to be crooked, a lot of individual investors have been robbed. The crooks steal a little from many, and over time, it adds up to grandma and grandpa having to work an extra decade.
    I invested for a few years with a brokerage connected to a large financial institution, and they cost me a lot of money giving out bad advice, some of which conflicted with current Wall street advice that I read in the Wall Street Journal.....
    Never again....
    But if you tie private SS investments into the congressional investments you can bet they will never go TU.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by Taylor View Post
    Sure, some of it.


    There's not enough money because they spent the surplus.
    I dont believe they have spent it, i believe they did what they always do...borrowed against it. Which is a pretty clear indicator that congress and irresposnbile spending is and always has been the problem.

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