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Social Security Fund to Be Empty by 2037

MrVicchio said:
Trained monkeys is what that shows. People so reliant on Gov't to care for them, and now Got'v is going broke.

Cast off the gently laid yoke of slavery people, WAKE UP! We're better then this.
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Ok so say we did away with SS a few years ago, like when Bush wanted to move it to the market. What would have happened when the market crashed? Do we simply let the elderly fall into poverty?
 
tlmorg02 said:
Ok so say we did away with SS a few years ago, like when Bush wanted to move it to the market. What would have happened when the market crashed? Do we simply let the elderly fall into poverty?
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Don't worry. When he gets closer to collecting SS he will be crying to save it, too. I have found that many people that rail against SS don't even have their own retirement in order. They have little in savings and nothing in a 401K.
 
Dirty Harry said:
When he gets closer to collecting SS he will be crying to save it, too.
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whether he cries or not, there aint gonna be much there for him when he gets there

or haven't you heard

and you surely cannot be depending on this president to do anything about it, not after that solution-less sotu

all this, despite the fact that he has been paying into suckerpunch security to the tune of hundreds of dollars per month---matched by his employer---for some 50 or so years

greatest ripoff in the history of the world, this side of mainland china

I have found that many people that rail against SS don't even have their own retirement in order. They have little in savings and nothing in a 401K.
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oh, "they" don't?

is that what you have found?

LOL!

gotta link?
 
The Prof said:
whether he cries or not, there aint gonna be much there for him when he gets there

or haven't you heard

and you surely cannot be depending on this president to do anything about it, not after that solution-less sotu

all this, despite the fact that he has been paying into suckerpunch security to the tune of hundreds of dollars per month---matched by his employer---for some 50 or so years

greatest ripoff in the history of the world, this side of mainland china



oh, "they" don't?

is that what you have found?

LOL!

gotta link?
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The problems with SS can easily be corrected by anyone with some balls. Haven't you heard?
 
easily corrected...

astonishing
 
The Prof said:
easily corrected...

astonishing
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Yep. Remove the cap on SS taxible income, cut benifits 10%, raise the age to retire, raise SS tax 1% and make it against the law for the government to spend SS money on anything but SS.. Done deal. Now was that so hard?
 
Dirty Harry said:
Yep. Remove the cap on SS taxible income, cut benifits 10%, raise the age to retire, raise SS tax 1% and make it against the law for the government to spend SS money on anything but SS.. Done deal. Now was that so hard?
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Here's a better one. Eliminate it altogether, let me keep my 6.2% and invest it in a balanced mutual fund, and I'll retire with three times as much money as I'll ever receive from SS.

How 'bout we stop asking the government to be our parent?
 
Dirty Harry said:
Yep. Remove the cap on SS taxible income, cut benifits 10%, raise the age to retire, raise SS tax 1% and make it against the law for the government to spend SS money on anything but SS.. Done deal. Now was that so hard?
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ask obama

grow up
 
The Prof said:
ask obama

grow up
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Obama has no balls.
Grow up? Why are you such a tool?
I gave you an easy solution to the SS problem that only involves changing numbers and making one law. How much simpler could it be?
 
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cut benefits, raise retirement age, raise payroll tax...

voilla!

as easy as click and submit!

LOL!
 
Erod said:
Here's a better one. Eliminate it altogether, let me keep my 6.2% and invest it in a balanced mutual fund, and I'll retire with three times as much money as I'll ever receive from SS.

How 'bout we stop asking the government to be our parent?
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Ain't going to happen. 80% of the population likes SS and want to keep it.
Anyone that believes mutual funds are a safe way to save for retirement is a fool. The only reason the stock market is up now is because the Fed has interest rates set at zero. Bonds and money markets are at 1% You people really do live in a fantasy world.
 
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The Prof said:
cut benefits, raise retirement age, raise payroll tax...

voilla!

as easy as click and submit!

LOL!
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It's simple. They just won't do it because they have no balls. It's so easy it's ridiculous.
 
tell it to the seniors whose benefits you just cavalierly cut 10%

grow up
 
The Prof said:
tell it to the seniors whose benefits you just cavalierly cut 10%

grow up
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Hey slick, everyone has to make a sacrifice for the good of the country.
Living in your parents basement you probably wouldn't feel the pain much anyway.
 
Dirty Harry said:
Ain't going to happen. 80% of the population likes SS and want to keep it.Anyone that believes mutual funds are a safe way to save for retirement is a fool. The only reason the stock market is up now is because the Fed has interest rates set at zero. Bonds and money markets are at 1% You people really do live in a fantasy world.
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And wasn't that the idea? Give them money, make them dependent, and you can't count on their vote every time no matter what.

By the way, it's not 80 percent if you ask folks under the age of 45.
 
The Prof said:
and sacrifice is so easy

all it takes is 60 seconds to click and submit

LOL!
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Time for you to go back and play some video games. Your mom will have your lunch ready in a few minutes.
 
it's really just a simple matter of arithmetic, numbers being the ultimate in maturity

social security taxes members 7.65%, matched by their employers

for any schmuck making 40K per year, the payroll imposition comes in at exactly $6120 per annum, $510 per month

for those earning 70K, it's $847 every 30 days

young couples just starting out are being asked to pony up over $1000 per month for dual earners, every month for 40 or more years comprising a working career---for their retirements

this is on top of rent, auto and gas and insurance, health care, income taxes...

let alone new shoes for little shaniqua and shaquille

if mom or dad is lucky enough to survive to that steadily and rather stealthily advanced eligibility age, she or he will receive in compensation for this immense investment, the better part of a lifetime's earnings, an average $1076 per month

for those who can't quite make it to age 67, the system often keeps a good part of that mammoth investment

if any one of us took even half that investment and put it in a simple savings account, we'd be looking at near million dollar retirements by the time we got to 66 years and 10 months, or whatever is your exact eligibility age, depending on when you were born

in 1937, workers were taxed 1% of income and were due to receive benefits on their 65th birthday

that promise played false

any public program which can't keep its promises is perforce failed

and this one comes up short by hundreds of thousands of dollars per person

tragic

FICA & SECA Tax Rates

Retirement benefits by year of birth

My Way News - Social Security now seen to run permanent deficits
 
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There is a very simple and straight forward solution to the unfunded Social Security liabilities. Tax the young for the benefit of the old. Aren't entitlements wonderful?

We need more senior centers. More Meals on Wheels. More Paratransit. Level out the sidewalks so we don't trip. America needs to get its priorities right. The seniors must come first at all costs. Seniors are America's most vulnerable and fragile demographic group.

The young must accept subordination of all of their hopes and dreams to the care and comfort of America's seniors. It's their duty.:)
 
yes

politically, it's not too far an overstatement to observe that seniors run this country (the united states)

they vote, they have all the money and they know what's going on

it's been that way for a long time

for good and bad

take care, all

stay up

try to reach your own maturity
 
This is the world's most overblown crisis. Social security is not in trouble. This is a manufactured crisis designed by people that hate the idea of social security.

What we are talking about is something that is scheduled to happen 26 years from now. Even then, when social security "goes broke" it will still be in position to pay 75% of scheduled benefits. We have way more time to fix the issue the problem then we do most other problems... and if we don't, the downside is a 25% cut in benefits. Give us all a break.

From the article: "....Social Security has built up a $2.5 trillion surplus since the retirement program was last overhauled in the 1980s. Benefits will be safe until that money runs out. That is projected to happen in 2037 -- unless Congress acts in the meantime. At that point, Social Security would collect enough in payroll taxes to pay out about 78 percent of benefits, according to the Social Security Administration.....'



If only Washington worried about potential problems on a 30 year cycle we might actually have a functioning government. Instead, we react. On the Washington administrative calendar, this isn't an issue until 2040. Move on people, there is nothing to see here.
 
The Prof said:
astonishing
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Nicely taken out of context..... The full sentence said that its based on the typical Washington timetable for dealing with problems.

On all fronts, however, it is not a serious issue in 2011, especially amongst those that see FICA as an off the books activity (you know who you are...., those that argued that Clinton never had a budget surplus because it included money borrowed from FICA.... if those people are now argue that FICA is in trouble, well you are talking out both sides of your mouth). The 2037 problem can be dealt with in so many ways.... its an easy fix and not something to worry now.
 
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not a serious issue in 2011...

some people are talking outta both sides of their mouths

easy fix... not something to worry now...

taken outta context

astonishing
 
1. CBO analysis shows that if all income were subject to the Social Security tax (as opposed to just the first $106,800), Social Security's trust fund would last through 2083. Given the imprecision of 75-year economic forecasts, that should be good enough for now.

2. A poll conducted for USA Today by Gallup shows that 67% of Americans support lifting the cap on income subject to the Social Security tax.

Problem solved. In fact, it was so easy to solve, it's really not much of a problem.
 
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