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Bush going to propose privatizing Social Security again tonight.

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  • #16
    Hey guys, I have a really great idea. On the cusp of the largest generation retiring, let's stop putting any new money into SS?

    So, on top of having to pay your 13% into some IRA, you'll have to pay taxes to pay for your parents and grandparents retirement. Hope you like massive tax increases.
    Christianity: The belief that a cosmic Jewish Zombie who was his own father can make you live forever if you symbolically eat his flesh and telepathically tell him you accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree...

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    • #17
      SS is a Ponzi scheme. I'd be ok with it if it was set up such that the government couldn't "borrow" from the SS fund any time they damn well please, but of course that would be imposing some vague notion of fiscal responsibility on the government and goodness knows we can't have THAT!

      Bush must know there is no chance of privatizing it. The seniors will go berserk.

      -Arrian
      grog want tank...Grog Want Tank... GROG WANT TANK!

      The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.

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      • #18
        Something was lost here on most of you. You seem to believe that being allowed to make interest on your SS is worth allowing the federal government to go bankrupt. Can't you see that the latter has an effect on you personally?
        I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
        - Justice Brett Kavanaugh

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        • #19
          Originally posted by chegitz guevara
          Hey guys, I have a really great idea. On the cusp of the largest generation retiring, let's stop putting any new money into SS?

          So, on top of having to pay your 13% into some IRA, you'll have to pay taxes to pay for your parents and grandparents retirement. Hope you like massive tax increases.
          I say we just jackhammer their benefits.

          gotta stop the seniors from voting somehow tho.....

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          • #20
            Originally posted by OzzyKP
            If someone is in the stock market long term, diversified they make out much better than social security even with all the crashes and bubble bursts over the last 80 years.
            Past trends aren't necessarily an indicator of future developments. I've read a few opinions stating that the next 10 years will average about 3.5% growth, as opposed to 7%.
            I'm consitently stupid- Japher
            I think that opinion in the United States is decidedly different from the rest of the world because we have a free press -- by free, I mean a virgorously presented right wing point of view on the air and available to all.- Ned

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            • #21
              I wish the Feds would take a bite out of the FIT. I had well over $3000 taken out of my gross earnings last year, and that's not including SS and Medicare.

              Personally, I wouldn't mind paying into SS if the money I paid in remained in an account for me, instead of going into some nebulous pool. I know damn well that SS won't be around when I retire, so I'm essentially getting ripped off to pay for today's seniors. They oughta bite the bullet, allow SS to remain with the individuals who pay it, and find some other means to tide over the existing SS seniors who didn't have that option when they were paying in.

              Yeah, I know. Easier said than done. Nonetheless ...

              Gatekeeper
              "I may not agree with what you have to say, but I'll die defending your right to say it." — Voltaire

              "Wheresoever you go, go with all your heart." — Confucius

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              • #22
                Re: Re: Bush going to propose privatizing Social Security again tonight.

                Originally posted by Ned
                All people must be totally dependent on the government for a living, after all.
                Instead the people are dependent on the market. Yeah, the market has done so well lately in creating high paying jobs.

                Better to have a social security entitlement as a safety net (inadequate as it is ...). Besides, all of those who invest their money in the next bubble will just come crying for their benefits when they retire.

                Better idea - shift the payroll tax to the employers themselves and vest an entitlement in the workers. That takes the tax burden off the lower and middle classes (so they have more money to spend) while providing solvency for the Social Security program. The payroll tax hit the employers take will be more than made up for by the increased consumption of the lower and middle classes. Hey, the money that get frees up could even be invested right? There you go, workers can have their cake and eat it too.
                - "A picture may be worth a thousand words, but it still ain't a part number." - Ron Reynolds
                - I went to Zanarkand, and all I got was this lousy aeon!
                - "... over 10 members raised complaints about you... and jerk was one of the nicer things they called you" - Ming

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                • #23
                  There will be *****ing, moaning, complaining, and all manner of rhetoric. But in the end, taxes will rise so that the Boomers get their SS money. And the government will most likely keep dipping its grubby paws into the pot whenever it's short on cash for whatever pet project they wanna blow a few hundred billion on.

                  -Arrian
                  grog want tank...Grog Want Tank... GROG WANT TANK!

                  The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.

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                  • #24
                    I think this concept would fly if the government did the investing and did it by broadly investing in every stock listed on the major exchanges in some defined formula. This should provide an average growth in value of around 10% per year, a lot higher, I would point out, than one could make putting money into one's mattress or the SS system, which amount to the same thing.
                    http://tools.wikimedia.de/~gmaxwell/jorbis/JOrbisPlayer.php?path=John+Williams+The+Imperial+M arch+from+The+Empire+Strikes+Back.ogg&wiki=en

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                    • #25
                      Throwing the eldery out of helecopters could be unhealthy...

                      ...they might land on somebody.

                      Ever think of THAT? HUH?

                      Nobody THINKS anymore...
                      Long time member @ Apolyton
                      Civilization player since the dawn of time

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                      • #26
                        Originally posted by Arrian
                        There will be *****ing, moaning, complaining, and all manner of rhetoric. But in the end, taxes will rise so that the Boomers get their SS money. And the government will most likely keep dipping its grubby paws into the pot whenever it's short on cash for whatever pet project they wanna blow a few hundred billion on.

                        -Arrian
                        There's going to be more than complaining. There will be a real negative effect on the economy.
                        I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                        - Justice Brett Kavanaugh

                        Comment


                        • #27
                          Originally posted by Ned
                          I think this concept would fly if the government did the investing and did it by broadly investing in every stock listed on the major exchanges in some defined formula. This should provide an average growth in value of around 10% per year, a lot higher, I would point out, than one could make putting money into one's mattress or the SS system, which amount to the same thing.

                          ARGH! No, it's not the same thing. SS payments are used to fund the Federal govt.
                          I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                          - Justice Brett Kavanaugh

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                          • #28
                            Re: Throwing the eldery out of helecopters could be unhealthy...

                            Originally posted by Lancer
                            ...they might land on somebody.

                            Ever think of THAT? HUH?

                            Nobody THINKS anymore...
                            To some of us, YOU'RE elderly...Lancer...
                            I'm consitently stupid- Japher
                            I think that opinion in the United States is decidedly different from the rest of the world because we have a free press -- by free, I mean a virgorously presented right wing point of view on the air and available to all.- Ned

                            Comment


                            • #29
                              Yes!!! Let's rely on corporate America for our retirements!

                              The same corporate America, who out of the Fortune 100, 67 companies have been CONVICTED of crimes. That doesn't count those who have gotten away.

                              Privating Social Security is such a DUMB idea... anyone who thinks it is good is CRIMINALLY STUPID!
                              To us, it is the BEAST.

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                              • #30
                                The government needs to seperate SS from the general fund. That will mean tax increases once the government can no longer treat SS like a piggie bank, yes. So be it.

                                -Arrian
                                grog want tank...Grog Want Tank... GROG WANT TANK!

                                The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.

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