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Old 04-07-2013, 11:12   #1
frank4570
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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?
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Old 04-07-2013, 11:15   #2
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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

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Old 04-07-2013, 11:16   #3
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They're both right. It's fine as long as the money isn't being pillaged.

The money is being pillaged.
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Old 04-07-2013, 11:16   #4
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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.
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Old 04-07-2013, 11:25   #5
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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....

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.
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Old 04-07-2013, 11:27   #6
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For the independent, productive individual, social security is organized crime.
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Old 04-07-2013, 11:31   #7
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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
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Old 04-07-2013, 12:06   #8
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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.
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Old 04-07-2013, 12:18   #9
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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.
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Old 04-07-2013, 14:31   #10
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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.
I understand your frustration... But I'm, right now, watching the FED 'borrow' into existence $1 trillion per year. They will demand interest on that money and the next generation(s) will be responsible for that debt.

I vote conservative, for the most part (GW was not a conservative). I write to my Congressional representatives, I try to talk sense to Dims. It doesn't seem to be working - the FED is still printing.

So, what are you doing to protect the next generation? What are you doing right now that the older generation failed to do 30 years ago?

I'm going to edit this post to say... CaptCave: I don't mean 'you' specifically. I didn't mean to single you out. I mean 'you' who think the current generation of SS recipients should have done something to ensure the system was/is viable.
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Old 04-12-2013, 21:19   #11
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It's gone. No such thing as getting it back. You can only rob from future generations.


Bingo. SS is nothing, and I mean nothing, more than a Ponzi / pyramid con. Absolutely the same exact thing Bernie Madoff went to jail for. SS *does* work, as all pyramid schemes do, as long as more people are joining the 'system' than are leaving it. That ended with the Baby Boomers. For the first time in American History, the generation that followed the Baby Boomers, Generation X, was smaller than the preceeding generation. Pyramid turns upside down, and can do nothing but collapse.

The first person to draw a SS check was Ida May Fuller. She paid about $22 into SS and withdrew nearly $23,000 from it. Take it from an accountant; the system has been out of balance ever since.

The only way to keep the con going is have more people pay into the system, which no longer is happening, or to make those people paying into it now pay significantly more than they are now. Neither will happen. This cannot survive. Very simple math, logic, and economics.


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Old 04-07-2013, 12:19   #12
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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.
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Old 04-07-2013, 12:29   #13
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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.
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Old 04-07-2013, 12:36   #14
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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?
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Old 04-07-2013, 16:27   #15
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Even if it has to be taken from someone else by threat of force?
Yup, exactly, its the law. Build a bridge and get over it.
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Old 04-07-2013, 13:27   #16
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Originally Posted by F106 Fan View Post
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?
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Old 04-07-2013, 14:00   #17
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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.
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Old 04-07-2013, 14:04   #18
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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.
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Old 04-07-2013, 14:04   #19
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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.
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Old 04-07-2013, 18:03   #20
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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.
Well, you may be a thief, but at least you're honest about it!

The system's gonna go bust. We're not all that far behind Europe. We'll have some combo of increase in eligibility age, means testing, grossly inadequate COLA/inflation adjustment, and possibly eventual collapse (although that'll affect much more than just SS).

What's sad is the richest segment of the population bankrupting their progeny. Well, sad, sickening, and despicable. (And if you want to bring up the leaches of the younger generation...don't worry, I feel similarly about them, too!)
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Old 04-10-2013, 17:59   #21
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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.
And this seems to be the central argument in favor of keeping this massive, broken entitlement system that is bankrupting the nation and represents in large part the rapid decline of all of Western Civilization.

"I don't care if you're getting screwed right now and our entire country including me is getting screwed by this in the long run - all that matters to me is I'm making out like a bandit right now; it matters not a whit to me who is getting screwed over to make this possible.

It is interesting to note that one of the most noteworthy hallmarks of sociopathic, non-integrous behavior is a fundamental inability, not just a simple lack of willingness, to consider and act upon the greater context of the long-term repercussions of one's actions, or the actions of the group of which one is a part.
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Old 04-07-2013, 12:26   #22
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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?
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Old 04-07-2013, 17:33   #23
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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?

What?
You need to do a little more research
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Old 04-07-2013, 20:18   #24
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What?
You need to do a little more research
You seem to know, why not share?
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Old 04-08-2013, 08:04   #25
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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?
It was not invested...SSA gave their surplus to the other part of the Federal gov't and received the T-Bills (IOUs with no real value) in return. That surplus was then SPENT by the non-SSA part of the Federal Gov't.
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