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-   -   Is Social Security viable or not? (http://glocktalk.com/forums/showthread.php?t=1480848)

frank4570 04-07-2013 11:12

Is Social Security viable or not?
 
People on the right say the social security is bankrupt. People on the Left say it is fine as long as the money is not pillaged. Who is telling the truth?

saddlebum 04-07-2013 11:15

the money has already been pillaged,they stole the money along time ago so the money the young pay in goes to the old to replace the the money that was stolen. as the work force decreases there will be more retirees and less people paying in,so the whole thing has to go broke

bobtheelf 04-07-2013 11:16

They're both right. It's fine as long as the money isn't being pillaged.

The money is being pillaged.

Ragnar 04-07-2013 11:16

The Right. Social Security has been paying out more than it takes in for about 2 years now. It will go bankrupt at some point. And the money has been pillaged all along. The trust fund is BS.

FullClip 04-07-2013 11:25

I've got 7 more years to go before I can start tapping what I've been forced to pay in over my working life. I doubt that there will be a penny left in the cookie jar by the time I hit that age....:upeyes:

Needless to say, I plan on taking the "hit" of getting only 71.7% of "full" benefits and try to get a little of my money back before the Oxy addicts on SSDI who have never paid a dime into the system bleed it dry.:upeyes:

Lior 04-07-2013 11:27

For the independent, productive individual, social security is organized crime.

F106 Fan 04-07-2013 11:31

Hey, it's working fine for me! I get a direct deposit on the 2d Wednesday of every month and I started taking the money the very moment I was qualified. Sure, I get a lesser amount but at least I get something.

The problem is that the money was invested in T bills and now it's time to cash them in. Unfortunately, the US Treasury doesn't have enough money to do that. In effect, and in many cases actual, the money was stolen.

I paid the money in for 43 years and I want it back. Every single dime!

Richard

DamonC 04-07-2013 12:06

Quote:

Originally Posted by F106 Fan (Post 20163571)

I paid the money in for 43 years and I want it back. Every single dime!

Richard

It's gone. No such thing as getting it back. You can only rob from future generations.

CaptCave 04-07-2013 12:18

Quote:

Originally Posted by DamonC (Post 20163658)
It's gone. No such thing as getting it back. You can only rob from future generations.

and at this point, most of the that generation has absolutely no problem with that.

Doesn't matter than they voted in and stood by while the politicians stole their money. Just that they paid it, and they don't care where the has to come from, their grandchildren and great grandchildren can pay it, so long as they get their welfare.

It's armed robbery plain and simple.

devildog2067 04-07-2013 12:19

Quote:

Originally Posted by F106 Fan (Post 20163571)
I paid the money in for 43 years and I want it back. Every single dime!

OK.

My bike got stolen last year, and I want it back. I'm going to steal yours.

frank4570 04-07-2013 12:26

so the money was pillaged.it was invested in Treasury bills, that are now not worth as much.and the system has been in the red for two years.
is that it in a nutshell?

FullClip 04-07-2013 12:29

The only hope for social security is, to paraphrase The Who..."We hope you die before you get old"

When the government Ponzi scheme started, it was assumed that a lot of the people paying in wouldn't make it long enough on the top of the lawn to collect..plus the younger generation was growing and hopefully working to pay into the system.

Now kids who have never paid a dime into the kitty (nor their parents) have their "entitlements" paid outta' the pot.

Slug71 04-07-2013 12:35

The people on the left argue that it doesn't add to the debt. So everything is fine.

nmk 04-07-2013 12:36

Quote:

Originally Posted by F106 Fan (Post 20163571)
Hey, it's working fine for me! I get a direct deposit on the 2d Wednesday of every month and I started taking the money the very moment I was qualified. Sure, I get a lesser amount but at least I get something.

The problem is that the money was invested in T bills and now it's time to cash them in. Unfortunately, the US Treasury doesn't have enough money to do that. In effect, and in many cases actual, the money was stolen.

I paid the money in for 43 years and I want it back. Every single dime!

Richard

Even if it has to be taken from someone else by threat of force?

Jumper 04-07-2013 13:05

They took it from him by threat of force.

I hope he gets back all he paid in.

frank4570 04-07-2013 13:08

Quote:

Originally Posted by Slug71 (Post 20163732)
The people on the left argue that it doesn't add to the debt. So everything is fine.

it really shouldn't have anything to do with the debt.but it sounds like somebody failed to leave that money in its own shoe box where it belonged.

nmk 04-07-2013 13:17

Quote:

Originally Posted by Jumper (Post 20163806)
They took it from him by threat of force.

I hope he gets back all he paid in.

I want to walk on rainbows, but where does the money come from?

podwich 04-07-2013 13:24

Quote:

Originally Posted by Jumper (Post 20163806)
They took it from him by threat of force.

I hope he gets back all he paid in.

I hope he gets back all the money he had the government invest for him. If it's not there, well, how is that my fault?

I'd be for letting the people who invested into SS collect on their investments and letting those who don't want to participate get out. You can keep my contributions to date if you exempt me from here on out.

If you're for stealing from me to fund your stuff because that's what your generation voted for...well, here's hoping you lose.

podwich 04-07-2013 13:27

Quote:

Originally Posted by F106 Fan (Post 20163571)
Hey, it's working fine for me! I get a direct deposit on the 2d Wednesday of every month and I started taking the money the very moment I was qualified. Sure, I get a lesser amount but at least I get something.

The problem is that the money was invested in T bills and now it's time to cash them in. Unfortunately, the US Treasury doesn't have enough money to do that. In effect, and in many cases actual, the money was stolen.

I paid the money in for 43 years and I want it back. Every single dime!

Richard

I'd want it back as well if I were in your position. The money is gone, already spent. The only way to get it is to steal from my (and future) generations. Are you advocating for that?

matt_n03 04-07-2013 14:00

The SS "lock box" is empty, nothing but IOUs. In order to pay back those IOUs and cut checks currently going out, the SS tax that everyone working pays is supposed to cover this, supposed too anyway. The problem is that it doesn't and it won't going forward.

People who say they've paid in for X number of years and want their money back need to talk to their representatives, because their money is gone. There is no fund full of the 2.5 Trillion or so for SS, the money has been spent. If not enough people are working and paying SS taxes, the people currently getting SS checks will not be fully covered, and the general fund and income taxes pick up the difference.

NAS T MAG 04-07-2013 14:04

Quote:

Originally Posted by podwich (Post 20163853)
I'd want it back as well if I were in your position. The money is gone, already spent. The only way to get it is to steal from my (and future) generations. Are you advocating for that?

Why can't you (not just you) understand that the system was always that way. You never got back "your" money. It had been paid to someone else. The money I currently receive is being paid by someone else. There is no one alive in the US that won't eventually receive SS. The eligibility age may be 80, but the system will remain intact.

I've calculated that I have received about 6 times the amount I contributed since I started paying in 1959. Some of you were just born at the wrong time in history. You'll just have to work longer.

The Machinist 04-07-2013 14:04

Social Security is just another layer of federal taxation. It's not a trust fund, and you didn't "pay into" it. You were taxed to pay for an unsustainable pyramid scheme, and most of you, sadly, are just fine with the federal government stealing from future generations to pay for your bit of the gravy train.

MedicOni 04-07-2013 14:12

It's not viable. And i wish there was some way I could just not pay it. I'm not wanting to pay for someone else's retirement when in all liklihood I won't see a dime of it.

427 04-07-2013 14:21

We're, as a nation, are almost 17 trillion in debt and running trillion + yearly deficits. We're broke! Given those numbers, who thinks there's still treasure left in the treasury?

The thing is the older generation(s) want what they "paid" in. It's gone! They expect the current and future generations to pay for them.

I don't want to pay. I want to pay for my future, my retirement but instead, I'm forced to pay taxes for promises made by politicians.

Let's be honest, the current and future workers will never have it as good as the current and past retirees. They set themselves up at expense of the future, but what do they care?

Dennis in MA 04-07-2013 14:26

Solution: Kill all the Baby Boomers. It's their fault anyhow. (Paid too little in, will get too much out.)

Expect reductions in the COLA and cut in bene's for people with AGIs higher than X.

They can make it survive, but people won't like it.


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