View Poll Results: Are you willing to give up you social security to end the new deal?

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  • Yes

    75 66.96%
  • No

    37 33.04%
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Thread: Are you willing to give up you social security to end the new deal?

  1. #61
    Banned Iriemon's Avatar
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    Re: Are you willing to give up you social security to end the new deal?

    Quote Originally Posted by Stinger
    Can you imagine someone buying a retirement program from a company and 30 years into it the company sends them letter saying that instead starting to pay you at 65 as the contract stated they were now informing you that they would not be able to start paying you until you hit 68 and that they may not have enough money anyway and that if you continue to make as much as you do and save as much on your own as you do they will cut what they pay you in half because they don't have the revenue coming in and you make too much anyway....................and that person calling up a friend boasting what a great successful company it is.
    That happens all the time, companies go Ch. 11 and wipe out pensions.

  2. #62
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    Re: Are you willing to give up you social security to end the new deal?

    Quote Originally Posted by Iriemon
    SS has been a great success at removing tens of millions of old folks from destitution. I like not seeing old folks living in the streets.
    There are other programs to help poor people. Paying someone just for being old is silly.

    Quote Originally Posted by Iriemon
    The problem you describe is one of adjustment. I agree the program as is now configured is too rich. Change the age to 70 and stop giving the limited money to folks like Warren Buffet and that would problem solve the long term financing indefinitely.
    That would delay the inevitable, but it certainly wouldn't solve the problem. At all. Americans will continue to live longer and longer, if the demographic and scientific trends are any indication. We're adding several months to the human lifespan every year, and that rate is increasing. Within the next decade, we'll be adding more than one year to the lifespan per year. And when that happens, the demographic disaster of SS will be obvious.

    Quote Originally Posted by Iriemon
    Unless you invested it all in tech stocks in the 90s.
    If you'd prefer to have near-total security, you could invest it all in government bonds...and you'd STILL come out ahead of SS.
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  3. #63
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    Re: Are you willing to give up you social security to end the new deal?

    Quote Originally Posted by BWG
    1Get rid of it then. Or are you all talk.
    What's that you say? Oh, just another excuse.

    2You got the numbers, get rid of it!!!!!What are you going to do when your investments lose money?
    1. why not, it is doing away with itself. I have no delusion that i will collect 1 dime stolen from me over my 25 years worked so far.

    2. a properly diversified portfolio does not lose money, LONG TERM
    ever hear of triple exempt municipal bonds? they are exempt from fed, state, and local taxes, and as bonds they are guaranteed, backed by the full faith and credit of the issuing municipality
    all this means they are all but guaranteed income with tax exempt status which blows away SS's meager ROI probably 10 fold

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    Quote Originally Posted by jallman View Post
    How the hell did you just tie in a retroactive reparative measure with a proactive preventative measure. Not even close to being the same thing.

  4. #64
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    Re: Are you willing to give up you social security to end the new deal?

    Quote Originally Posted by Kandahar
    What the hell? Do you have anything substantive to add to the conversation about the best policy, or is "Nyah, nyah, the voters agree with me" the best argument you can come up with?
    Apparently the majority of Americans don't believe that the Republican 'policy' is better. If they did, the Republicans would get rid of it in a heartbeat. That has been one of their objectives for years now. They have the majority of government right now. What's the hold up? Are you ticked because your suggestion isn't working out?
    Quote Originally Posted by Kandahar
    Why should *I* have to tote the load for those older than I am, who voted to continue this program for all those years before I was born?
    So, the democracy is OK as long as everyone votes the way you think they should?
    Quote Originally Posted by Kandahar
    Do you have an alternative solution or do you just want to complain about ours?
    The alternative solution ain't working out too well, so it seems as though the majority is satisfied with what we have.
    Quote Originally Posted by Kandahar
    If you'd prefer to have near-total security, you could invest it all in government bonds...and you'd STILL come out ahead of SS.
    You have ways to invest in whatever you want. SS is insurance.
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  5. #65
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    Re: Are you willing to give up you social security to end the new deal?

    Quote Originally Posted by DeeJayH
    a properly diversified portfolio does not lose money, LONG TERM
    ever hear of triple exempt municipal bonds? they are exempt from fed, state, and local taxes, and as bonds they are guaranteed, backed by the full faith and credit of the issuing municipality
    all this means they are all but guaranteed income with tax exempt status which blows away SS's meager ROI probably 10 fold
    Just think, if I had had you as my financial advisor, I could have had gold plated bathroom fixtures. Darn.
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  6. #66
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    Re: Are you willing to give up you social security to end the new deal?

    Quote Originally Posted by BWG
    Get rid of it then. Or are you all talk.
    What's that you say? Oh, just another excuse.
    You got the numbers, get rid of it!!!!!
    Or reform it and make it a viable system. Oh yeah I forgot, the left shot down the first attempt to move in that direction.



    Why, so that I have to make another trip to the bank to buy more CDs (and I'm not talking about music...LOL)
    What are you going to do when your investments lose money?
    What are you going to do with the government tells you they won't pay you at the age you're suppose to start collecting on nor are they going to pay you what was promised and in fact you will lose money now?

  7. #67
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    Re: Are you willing to give up you social security to end the new deal?

    Quote Originally Posted by Iriemon
    That happens all the time, companies go Ch. 11 and wipe out pensions.
    Yes and you call that success? But then I wasn't talking about a company someone is working for.

    FYI my pension is in my name, if the company I work for goes bankrupt it doesn't effect my retirement.

    So was there a point in there or something?

  8. #68
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    Re: Are you willing to give up you social security to end the new deal?

    Quote Originally Posted by Iriemon
    I agree with this concept. It actually has been raised already, from 65 to 67. I don't know if we have to make it 78, but given that people are leading longer heathier lives, I see no reason why the age shouldn't be bumped to at least 70, that would save a tremendous about of $$.
    And what if the investment firm holding your 401K money sent you a letter saying they needed it so you cannot start getting any of it until you are 78 years old now?

    When I started paying in the "contract" as the left so likes to call it was that I would be able to recieve my SS IN FULL at 65, the government has already reniged on that, now you and others wanted to penalize me if I save myself and make me work longer before I can recieve the SS the "contract" said I would recieve.

    Yeah, what a successful program.

  9. #69
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    Re: Are you willing to give up you social security to end the new deal?

    Quote Originally Posted by Stinger
    Yes and you call that success? But then I wasn't talking about a company someone is working for.

    FYI my pension is in my name, if the company I work for goes bankrupt it doesn't effect my retirement.

    So was there a point in there or something?
    The point was that the terrible scenario you were painting actually happens. Not all are as lucky as you.

  10. #70
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    Re: Are you willing to give up you social security to end the new deal?

    Quote Originally Posted by Stinger
    And what if the investment firm holding your 401K money sent you a letter saying they needed it so you cannot start getting any of it until you are 78 years old now?

    When I started paying in the "contract" as the left so likes to call it was that I would be able to recieve my SS IN FULL at 65, the government has already reniged on that, now you and others wanted to penalize me if I save myself and make me work longer before I can recieve the SS the "contract" said I would recieve.

    Yeah, what a successful program.
    Who on the left told you SS was a "contract"? What a silly thing to say.
    And you believed that?

    It's been a great success. We don't have millions of old folks begging in the streets. Maybe that is not something that would bother you.

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