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Old 12-03-2014, 05:43   #1
DonGlock26
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Social Security Broke in Nine Years?

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Chart: Social Security to Become Insolvent Far Earlier Than Expected

By Monica Sanchez | 15 hours ago



According to research by policy experts Rachel Greszler and James M. Roberts at The Heritage Foundation, Social Security’s end-date is fast approaching, calculated to arrive far earlier than originally expected.

“Social Security’s trustees projected in 1983 that the recently enacted Social Security reforms would keep the program active for at least the next 75 years, through 2058,” reports The Daily Signal.

With each successive annual Social Security Administration (SSA) report, however, the federal program’s approach date has accelerated, Heritage experts find.


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The chart above, based on data from a 2013 SSA report, depicts the trend.

“If the trend since 1983 continues, the program will become insolvent in 2024–34 years earlier than originally projected."

http://www.mrctv.org/blog/chart-soci...rlier-expected




Did too many people go on social security because of the Obama economy?
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Old 12-03-2014, 05:52   #2
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Full blown socialism will kick in about the same time social security goes broke. By then every American will earn a guaranteed annual minimum income, whether they work or not.

That will eliminate the need for social security, and end poverty as we know it.

But first they have to put into place a government run single payer healthcare system, drastically increase income taxes and confiscate ALL private wealth in America.

That's the long range plan. Just ask Obama and his cronies.
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Old 12-03-2014, 06:06   #3
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Been broke for a long time, just getting to the end.
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Old 12-03-2014, 06:30   #4
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I often wonder if I'll be able to collect in 22 years from now, after paying into it for so long. I think both parties will do what they can to keep it going, because there would be a pretty big backlash if it went under.

BTW: I often wondered, when social security was first implemented, did the first people to receive it actually pay into it? Anyone know?
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Old 12-03-2014, 06:36   #5
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Originally Posted by JBnTX View Post
Full blown socialism will kick in about the same time social security goes broke. By then every American will earn a guaranteed annual minimum income, whether they work or not.



That will eliminate the need for social security, and end poverty as we know it.



But first they have to put into place a government run single payer healthcare system, drastically increase income taxes and confiscate ALL private wealth in America.



That's the long range plan. Just ask Obama and his cronies.

Social security *IS* full blown socialism.
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Old 12-03-2014, 06:37   #6
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...because there would be a pretty big backlash if it went under.
Not to worry. Social security will be replaced with a so called "better" system. Most Americans won't even notice it.

..

Last edited by JBnTX; 12-03-2014 at 06:39..
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Old 12-03-2014, 06:43   #7
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Government spending has been labeled "unsustainable" by the GAO when Obama entered office and hasn't slowed one bit.


What did the American public think would happen?

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Old 12-03-2014, 06:48   #8
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Quote:
Originally Posted by BuckyP View Post
I often wonder if I'll be able to collect in 22 years from now, after paying into it for so long. I think both parties will do what they can to keep it going, because there would be a pretty big backlash if it went under.



BTW: I often wondered, when social security was first implemented, did the first people to receive it actually pay into it? Anyone know?

No. The first recipient collected without paying. Edna Mae Fuller I think her name was.

You paid into nothing. Social Security is wealth redistribution. Welfare. If it was otherwise it would not be going broke
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Old 12-03-2014, 06:50   #9
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Originally Posted by JBnTX View Post
Not to worry. Social security will be replaced with a so called "better" system. Most Americans won't even notice it.

..

Will it be one that doesn't steal from the young and borrow from the unborn to pay old folks?

If so, that would be great
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Old 12-03-2014, 06:50   #10
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No. The first recipient collected without paying. Edna Mae Fuller I think her name was.

You paid into nothing. Social Security is wealth redistribution. Welfare. If it was otherwise it would not be going broke
That's what I would have guessed. Quite a scam that first wave of recipients pulled off.
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Old 12-03-2014, 06:54   #11
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That's what I would have guessed. Quite a scam that first wave of recipients pulled off.
Actually, it was quite a scam - much like the deceit of Obamacare.

Roosevelt refused to call your payments Social Security "Taxes". He labeled them "Contributions".
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Old 12-03-2014, 06:56   #12
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That's what I would have guessed. Quite a scam that first wave of recipients pulled off.

Not a scam at all. That's how the program was constructed.

See, there is no economic connection between taxes paid and benefits received. Your money doesn't "grow". It isn't even your money. It's simply a concoction of the congress. Not a financial instrument. Not forced savings, even.

Forced savings is unconstitutional. Connecting SS tax payments to benefit payments is unconstitutional. The Roosevelt administration knew this. That's why they argued, and the SCOTUS ruled, that it was a tax program and a spending program, and the two are not connected.
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Old 12-03-2014, 07:04   #13
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My understanding is that part of the idea of Social Security was that IF someone lived past 65 years old (the average maximum life expectancy at the time), the govt would help them out.

Today, 65 years old is almost not even old. It is practically assumed most people will make it to 75, if not 80 plus years old.

If Social Security were based on life expectancy, the "retirement" age for payouts would be somewhere around 75 years old, if not 80, and increasing on a regular basis.

Also, how can Social Security "go broke"? Is there an actual "Social Security Trust Fund"?? I thought Social Security is just part of the general federal budget. Isn't this all like saying the Pentagon is going to go broke?
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Old 12-03-2014, 07:45   #14
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My understanding is that part of the idea of Social Security was that IF someone lived past 65 years old (the average maximum life expectancy at the time), the govt would help them out.

Today, 65 years old is almost not even old. It is practically assumed most people will make it to 75, if not 80 plus years old.

If Social Security were based on life expectancy, the "retirement" age for payouts would be somewhere around 75 years old, if not 80, and increasing on a regular basis.

Also, how can Social Security "go broke"? Is there an actual "Social Security Trust Fund"?? I thought Social Security is just part of the general federal budget. Isn't this all like saying the Pentagon is going to go broke?

It's their way of saying that the taxes seized from young people will not be sufficient to cover the welfare checks cut to old people.

So the old folks will vote for politicians who will raise taxes even higher on the young people.
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Old 12-03-2014, 08:03   #15
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Social security will be replaced with the WTYDD. Better known as Work Till You Drop Dead plan.
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Old 12-03-2014, 08:13   #16
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Social Security Broke in Nine Years?

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Social security will be replaced with the WTYDD. Better known as Work Till You Drop Dead plan.

Or just save, invest and provide for your own retirement instead of taxing someone else to provide it.
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Last edited by certifiedfunds; 12-03-2014 at 08:21..
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Old 12-03-2014, 08:55   #17
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I collect SS. It pays for the chrome on my Harley.
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Old 12-03-2014, 09:00   #18
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I collect SS. It pays for the chrome on my Harley.
I get it starting next May. It's going to be my personal firearms trust fund money. A gun a month.

..

Last edited by JBnTX; 12-03-2014 at 09:00..
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Old 12-03-2014, 09:34   #19
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Social Security Broke in Nine Years?

What's funny about GT "conservatives" and social security:

1. They embrace socialism when it benefits them, just like a babymama

2. They display the same sense of entitlement as the welfare leeches they decry

3. They demand fiscal responsibility without having the foggiest idea what that means, but will accept only those actions that protect their own teat

4. None of them admit they need it but they all defend it with a passion that suggests their survival actually depends on it

5. They claim to be patriots
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Last edited by certifiedfunds; 12-03-2014 at 09:35..
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Old 12-03-2014, 10:04   #20
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Quote:
Originally Posted by certifiedfunds View Post
What's funny about GT "conservatives" and social security:

1. They embrace socialism when it benefits them, just like a babymama

2. They display the same sense of entitlement as the welfare leeches they decry

3. They demand fiscal responsibility without having the foggiest idea what that means, but will accept only those actions that protect their own teat

4. None of them admit they need it but they all defend it with a passion that suggests their survival actually depends on it

5. They claim to be patriots
Stick it dip ****. I've paid into SS since I was 18. Now I am close to retirement and that's most of what I will have to live on. My job is physical and I don't know of too many people who could do it into their seventies.

Go ***** about welfare *******, you elitist pos.

Last edited by JP22; 12-03-2014 at 10:14..
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