View Poll Results: How Do You FIx Social Security?

Voters
24. You may not vote on this poll
  • Raise FICA tax to 14.6 %

    2 8.33%
  • Raise elegebility age

    6 25.00%
  • Eliminate or raise earning cap

    7 29.17%
  • Reduce payments to wealthy retirees

    9 37.50%
  • Adjust COLA system to reduce annual raises

    1 4.17%
  • Other, please specify

    8 33.33%
  • Eleminiate Social Security entirely

    8 33.33%
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Thread: Fixing Social Security

  1. #1
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    Fixing Social Security

    Source thread is based upon: Amending Social Security: how to's surface during national debt talks - Yahoo! News

    The program has a "trust fund" built up during surplus years, which can allow it to pay beneficiaries in full until 2036, the annual report from program trustees reckons. Even after that, the program's expected payroll-tax revenue would allow it to pay reduced benefits.

    But that doesn't mean changes aren't needed sooner.

    "What does matter is that Social Security expenses are expected to rise by about 50 percent – from about 4.3 to 6.3 percentage points of GDP [gross domestic product] – from 2008 to 2030, and taxes aren't," finance expert Eugene Steuerle of the Urban Institute wrote in a recent analysis.
    I think we all know something has to be done to make SS solvent and last, or at least stop draining the budget. The article lists 5 possible solutions. Please refer to the article for specifics. You can pick more than one option.

    Note: Poll incoming, please be patient while I type.
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    Re: Fixing Social Security

    You can't fix it, the only way to fix it is to go back in time and stop politicians from raiding it to pay for their other pet projects. It's doomed to failure at this point, there simply aren't enough people paying into the system to pay for the people who are coming of retirement age.

    But then again, social security was never intended as a means to pay for retirement, it's a supplement, nothing more. Anyone trying to live off social security is an idiot.
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    Re: Fixing Social Security

    Quote Originally Posted by Cephus View Post
    You can't fix it, the only way to fix it is to go back in time and stop politicians from raiding it to pay for their other pet projects. It's doomed to failure at this point, there simply aren't enough people paying into the system to pay for the people who are coming of retirement age.

    But then again, social security was never intended as a means to pay for retirement, it's a supplement, nothing more. Anyone trying to live off social security is an idiot.
    There are many people that live off social security alone because they never made enough money to save for their own retirement....there are millions of people in that boat....just take most of the employees of the USAs biggest employer..walmart...that should put it in perspective for you
    What I find particularly amusing is that the teaparty greedsters want SS abolished...and medicare..ok fine. then what do you do with the millions of people that get old that dont have any money...lol...they will pay and pay more at that point. Or you can do what Rand Paul said when asked that question...his answer, Let charities take care of them..LMAO and the paul lovers dont want us to think they are nuts
    Last edited by lpast; 07-20-11 at 11:53 PM.

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    Re: Fixing Social Security

    The only cure is to let it die by attrition.

  5. #5
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    Re: Fixing Social Security

    Other option: receive benefits in an amount commensurate with contribution. In other words, you get out what you pay in.
    Last edited by X Factor; 07-20-11 at 11:55 PM.
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    Re: Fixing Social Security

    Social Security is not contributing to the national debt issue in the short term or middle term. Very modest changes in the out years will ensure its solvency throughout the century.
    “Real environmentalists live in cities, and they visit what's left of the wilderness as gently and respectfully as possible.” — Donna Moulton, letter to the editor, Tucson Weekly, published on August 23, 2001

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    Re: Fixing Social Security

    Quote Originally Posted by lpast View Post
    There are many people that live off social security alone because they never made enough money to save for their own retirement....there are millions of people in that boat....just take most of the employees of the USAs biggest employer..walmart...that should put it in perspective for you
    What I find particularly amusing is that the teaparty greedsters want SS abolished...and medicare..ok fine. then what do you do with the millions of people that get old that dont have any money...lol...they will pay and pay more at that point. Or you can do what Rand Paul said when asked that question...his answer, Let charities take care of them..LMAO and the paul lovers dont want us to think they are nuts
    That's their problem now, isn't it? See, people who go their entire lives working minimum wage jobs because they neither have an education, nor do they ever develop job skills that allow them to move up have a problem, don't they, but it's their problem because they caused it themselves. Unless there's something physically or mentally wrong with them that prohibits them from improving their lot in life, why should someone's stupidity, laziness or incompetence let them get free money from the government for the rest of their life?

    And yes, I'm entirely good with charities taking over. Since when did the American taxpayer sign up to care for the incompetent?
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    Re: Fixing Social Security

    Quote Originally Posted by Chappy View Post
    Social Security is not contributing to the national debt issue in the short term or middle term. Very modest changes in the out years will ensure its solvency throughout the century.
    The whole point has been that the money that each individual puts in, they get back out at the end. Unfortunately, when the baby boomers were putting in, the fund was raided by greedy politicians who spent the money on every cockamamie porkbarrel project they could come up with. Now that the baby boomers are starting to retire, there just isn't enough money in the system, money they put there specifically for retirement benefits, to cover the money they'll be taking out. There aren't enough Gen-X'ers behind them to replenish the supply either. It's not currently contributing to the national debt, but when these people need that money, it's got to come from somewhere and it certainly will become a major issue in the future.
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    Re: Fixing Social Security

    Quote Originally Posted by X Factor View Post
    Other option: receive benefits in an amount commensurate with contribution. In other words, you get out what you pay in.

    That's great, but the money they put in is gone and there aren't enough people paying into it to recover the money wasted by greedy politicians.
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    Re: Fixing Social Security

    Quote Originally Posted by X Factor View Post
    Other option: receive benefits in an amount commensurate with contribution. In other words, you get out what you pay in.
    That defeats the entire purpose of social security, or insurance in general. If you only get out of it what you put in then there is no point in having insurance at all. Social security distributes the risk over the entire group so that no one person is bearing the entire burden. Without these safety nets people would either have to save huge amounts of their money to have protection from bad days and thus aren't spending; or they would have no savings at all and their productivity would be destroyed when bad days come. Both situations are harmful to our nation, which is the whole reason why social security exists in the first place. Oh, but I forgot, it's socialism and that's bad.

    I agree with other sentiments in this thread... social security in of itself is not a failed system, but it's one whose resources have been diverted for arbitrary purposes by both parties and their pet projects. And now that the economy is wrecked because of things that have nothing to do with social spending, it makes it that much easier to attack this safety net - ESPECIALLY because people need it now more than ever.

    It never occurs to people to go after the plutocratic thugs that got us in this mess in the first place. There are a few select bank accounts we could drain as punishment in order to take care of a lot of our bills. But because those people are the de facto law writers, it is much easier to just go after the middle and especially the lower classes.
    Last edited by Temporal; 07-21-11 at 03:25 AM.

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