Eliminate Social Security - Dont 'Privitize it'

[Ming]

Originally posted by Geronimo
this is a fine reason to stop whining but it is not a reason to continue regressive payroll taxes.

One might argue that you owe it to all the people who have spent their lives paying into this worthless system.

To stop it now would be a total screw job to all of us who have been supporting previous generations with our contributions. Are you basically saying that all the people who are paying into the system now should be shafted?

[Geronimo]

Originally posted by Ming


One might argue that you owe it to all the people who have spent their lives paying into this worthless system.

To stop it now would be a total screw job to all of us who have been supporting previous generations with our contributions. Are you basically saying that all the people who are paying into the system now should be shafted?

I prefer a shafting wherein peeps get a percentage of their ss payments equivalent to the percentage of their working career that they were paying the payroll taxes.

[Ming]

While I have no intention of counting on SS for my retirement (even if it still exists, it won't pay enough to actually survive on), I would like to see some return on my investment for all the money stolen from me over the years... I've been kicking in a large amount over the last 27 years

[Arrian]

Social security should be a need based welfare program rather than an entitlement. That would ensure its solvency immediately at no cost to the government.

Yeah, that seems like the best solution (not that it's particularly great, but it beats the others I've see).

Although I'd also like to change the way the tax works (remove the cap).

-Arrian

[Geronimo]

Originally posted by Ming
While I have no intention of counting on SS for my retirement (even if it still exists, it won't pay enough to actually survive on), I would like to see some return on my investment for all the money stolen from me over the years... I've been kicking in a large amount over the last 27 years

Just so long as you would feel the same way if you were say a teenager right now

[GePap]

Originally posted by Sikander
Social security should be a need based welfare program rather than an entitlement. That would ensure its solvency immediately at no cost to the government.

I agree with Sikander...that is not good

Politically thought, entitlements never get touched, while welfare programs get cut all the time.

[Ming]

Originally posted by Geronimo
Just so long as you would feel the same way if you were say a teenager right now

No... I wouldn't feel the same way. If I was a teenager right now, I wouldn't have already "invested" in the system. As it stands right now, the government has stolen somewhere around $400,000 from me over the last 27 years... If I had taken that same amount of money and invested it, it would be worth tons more when I retire. I better get some of it back... I consider that I made a contract with the government, and they better damn well live up to their end of it.

[GePap]

No one stopped ou from buying Microsoft stock in 1980- that was your fault.

[GePap]

which is to say that taxation has nothing to do with the fact you are not richer, since you certainly had much more than 400,000 in those 27 years to invest on your own.


No one is poor because of taxes, plenty of people are not hungry thanks to taxes.

[chequita guevara]

According to someone on the Diane Rheem Show last week, SS could continue going the way it is now until 205x without requiring major changes. Sure, in the next decade or so, they'll have to start drawing from the general fund, but that doesn't mean that SS will be insolvent.

BTW, SS payments rise to match the growth in wages, not inflation. Since wages don't keep pace with inflation, we're lowering payments on the sly.

Medicare is the real nightmare, not SS.

The system could be restored to a surplus in the future by making it needs based, not payment based. We could also remove the wage cap, or, much better, abolish the payroll taxes altogether and increase income taxes proportionately.

SS works. We are we trying to dismantle it?

Medicare is broken now. Why aren't we trying to fix it.?

[GePap]

Its because SS works that conservatives have fought so hard to kill it and frame it incorrectly (as a ponzi scheme) or as in fiscal collapse. They can't stand to see a successful social program run by the state.

Now, unlike with SS, its not like Repugs could propose privatizing medicare. People do not have warm notions of fully private health care, as opposed to their dreams of stock market wealth...

[JohnT]

Originally posted by GePap
No one stopped ou from buying Microsoft stock in 1980- that was your fault.

Naw, it was the fault of those greedy bastards at MS who didn't have their IPO until 1986.

[GePap]

ha, so then Ming had an ever bigger chance to get in at the "bottom".

[JohnT]

Originally posted by GePap
ha, so then Ming had an ever bigger chance to get in at the "bottom".

Perhaps he's just not hanging around the right sort of people... if you catch my drift.

[GePap]

Asher was only 1 or 2 back then.