the cato institute explains why young people should be pissed off

[chequita guevara]

I call you stupid.

I'm very glad SS is there. It's nice to know I won't have to work until I die. It's nice to know that no matter how badly I screw up my 401Ks or IRAs, that at least I have something. It may not be a lot, but it's better than nothing.

For those who put their faith in the stock market, while long term trends are very good, you don't retire in the long term. If the market crashes when you're about to retire, you're ****ed. What if your country has a long term economic slump, like Japan since the bursting of their bubble, or the US during the Great Depression? It's not like we haven't just gone through three years of economic pain.

[Japher]

MOOT, not mute... sorry pet peave of mine

Just say Moo point, and really pisss him off

I'm very glad SS is there.

yeah, but your a commie who wants the government to give you everything

[chequita guevara]

Not everything.

[Japher]

not the nookie

[Japher]

What if your country has a long term economic slump, like Japan since the bursting of their bubble, or the US during the Great Depression? It's not like we haven't just gone through three years of economic pain.

That really is neither here nor there, since if the government is borke and you are broke your still in the sheithouse begging for toast. There are some of us who know, or feel we know, more about money than the baffoons who set up and ran this failing system called SS. Why should they be taking money from me, that is suppose to be for me, but is beggining to look more and more like I will never see it? Why? Because the government already screwed over others and their paying for it, rather we are paying for the mistake of our grandparents... and that sucks. So, I guess the real question is why are we continuing with this error? Why are promising something we know we can't deliver? Why should I believe an obvious lie?

[chequita guevara]

If the government is broke, your money is worthless, no matter what it is invested in. It is only the creditworthiness of the U.S. government that props up the dollar. In that case, I'll be leading the revolution instead of worrying about SS.

[Kidlicious]

Originally posted by Japher
not the nookie

[chequita guevara]

Originally posted by Japher
not the nookie

No. Government nookie smells like government cheese.

[MrFun]

Chegitz, I have not read all your posts, but how can you praise Social Security so much?? If I were you, I would rely on your future through a well-inveseted IRA account.

Originally posted by rah
Yeah, MrFun, most retirement advisors are recomending that you plan on getting nothing from the government when you're calcing what you're going to need for retirement. Actually that's kind of sad.

And it would be nice if families took care of themselves. (hopefully our family will not need anything extra and my parents will be provided for.) But there are families that will fall through the cracks and something must be done for them. It isn't always some choice these people made, but just what fate dealt them.

It does piss me off that I am still paying for Social Security though, through any income I have right now.

[chequita guevara]

Originally posted by MrFun
Chegitz, I have not read all your posts, but how can you praise Social Security so much?? If I were you, I would rely on your future through a well-inveseted IRA account.

I don't praise it so much, but facts are facts. Something is better than nothing, and it is the single most succcessful anti-poverty program the government has ever had. Nor do I think it's gonna go anywhere, simeply because we're not gonna screw our parents and grandparents out of their retirement. If we raise our kids right, they won't screw us, either.

I also don't fall for all the conservatie lies about how SS is gonna go bankrupt. And that what they are, is lies.

[MrFun]

But Che, for the middle class with enough income, the IRA is an option.


For the lower class, however, we need to find something else besides this dinosaur called Social Security -- or at very least, find some substantial way to rejuvenate it.

[MichaeltheGreat]

Originally posted by Ming




Yes... a BIG RIPOFF!

If I had taken the money I paid into SS, and invested it... by the time I retire, I would be able to retire in luxery, and could afford my own medical costs. But no, all I'll see from the government is measily little checks that you can't really live on, and "marginal help" on medical bills... no bargin here.

And I'll weigh in as yet another soon to be really old fart - I'll also end up paying in far more than I'll ever get back out, so the Cato institute can take their "entilement" talk and shove it up their ass.

[Ben Kenobi]

That's an interesting comment about the birthrate differences. That's the real crux of the problem in that each one of us is going to be paying a much greater burden than the boomers ever had.

That's why the system, as is, will be in big trouble when all the boomers start to retire, and why you are going to hear lots of calls to push back the retirement age.

If the system can be reformed, adminstered more efficiently, then let's hear some suggestions. Otherwise, the best of many bad options is to increase the retirement age.

[Japher]

I thought I gave suggestions, take big brother's greedy little hand out of the cookie jar.

The SS money should not be able to be touched by the gov, and should be handled by the SEC, Fanney May, Freddy Mac, HUD, etc... Any other institution that can actually invest the money to benefit the economy in a more efficient manner.

[chequita guevara]

Originally posted by MrFun
But Che, for the middle class with enough income, the IRA is an option.

Assuming the economy doesn't tank again. Assuming your stcoks don't take a dive just before you hit retirement age. Assuming that your brokers just don't flat out rip you off.