Give social security it's walking papers

Originally posted by timetothink
reply to post by VaterOrlaag

 

Seriously??? They are supposed to only be getting their own money back, not our money with a 50% interest rate.

The system sucks....why not give those of us under 55 the option to get our contributions back with 6% interest and stop taking it out of our checks?

The people in their 70 and older are taking out way more than they ever put in and nothing will be left for those that made the highest contributions. That's why it is a typical pyramid scheme.

It is NOT selfish to want to be able to have control of your own money.....SS deduction is MY money for ME.

So people today that started taking SS at 67 are past their investment when they hit 70+? The 50...yes that is right, 50 years I'll be paying into it you are suggesting that if I live to 80 then the 24k per year return will be more than my investment? lol

reply to post by AnarchysAngel


I am a baby boomer,guess what? I was complaining about the same
thing back in the 70's.

As a old man,
I know the truth,
money is short,
get a job as a grave digger.


Old men have a joke,
You are all dieing to give me a weeks pay.

reply to post by Rudy2shoes


SS is not a "tax"...comparing it to a tax is ridiculous, you are making no sense.

SS is your money that the government takes and holds on your behalf, with the promise to give it back to you when you retire.

It is not to be used for any other purpose, that was the "promise"...do you get that??

We should have a choice whether to let the government hold our money in case we are to stupid to save for our future or keep that money and save it ourselves.

You have the impression that money is for public use and it is not....if you never worked you don't get any of it, because you never put any in. Unless you have a deceased spouse who had SS coming or you are disabled, that is the exception.

It is you who are the selfish one, thinking SS belongs to the collective.

The bigger problem is the government screwed it up...it was a system designed to fail, never should have been designed and needs to be fixed.

reply to post by neo96

Same place those SS funds are.

Really?

What are the Social Security Trust Funds?

The Social Security Trust Funds are the Old-Age and Survivors Insurance (OASI) and the Disability Insurance (DI) Trust Funds. These funds are accounts managed by the Department of the Treasury. They serve two purposes: (1) they provide an accounting mechanism for tracking all income to and disbursements from the trust funds, and (2) they hold the accumulated assets. These accumulated assets provide automatic spending authority to pay benefits. The Social Security Act limits trust fund expenditures to benefits and administrative costs.

How are the trust funds invested?

By law, income to the trust funds must be invested, on a daily basis, in securities guaranteed as to both principal and interest by the Federal government. All securities held by the trust funds are "special issues" of the United States Treasury. Such securities are available only to the trust funds.

Securities guaranteed as to both principal and interest by the Federal government would be the key phrase here. 401k's are most certainly NOT these.

I'd rahter not have ot beg for money I paid in to.

Didn't know begging was requirement to receive a disbursement of funds. Rather thought it was so YOU wouldn't be on the street BEGGING when your 401k tanked.

Gotta stop watching Faux news dude.

So my SS payments for 50 years will be equal to 600k in retirements based on 5%.

Starting my retirement with $600,000 I would be able to draw $4,000 per month for 19.6 years (235 months).

A monthly income below $2,490 will continue in perpetuity.

I don't think the 2k per month I will get will ever reach the point where I exceeded my investment....lol

Originally posted by Rudy2shoes
Old men have a joke,
You are all dieing to give me a weeks pay.

There is an ancient proverb too...If you need SS then you really F'ed up your life along the way for the past 50 years of working.

reply to post by ErEhWoN


Yeah Yeah whatever:

In the past, the trust funds have held marketable Treasury securities, which are available to the general public. Unlike marketable securities, special issues can be redeemed at any time at face value. Marketable securities are subject to the forces of the open market and may suffer a loss, or enjoy a gain, if sold before maturity. Investment in special issues gives the trust funds the same flexibility as holding cash.

www.ssa.gov...

Still means they are invested and of all places the central bank( treasury)

This whole hate for the well being of society is the fault of talk radio. They've been telling people for 20 years that our society is illegitimate and they should only care about themselves.

reply to post by DarthMuerte

Better yet, why don't all of you lover of socialism move to Greece or Italy, or Spain, or another socialist country and leave America as it was supposed to be?

Because WE the PEOPLE have spoken, and have voted in this president. And ALL the past presidents that have supported Social Security.

And if anyone don't like it, the door is open to LEAVE. No one is forcing anyone here to stay and pay this 'tax' as the OP states.

China is hiring.

reply to post by neo96

Yeah Yeah whatever

Great comeback!

Still means they are invested and of all places the central bank( treasury)

And it still means the Devil I know GUARANTEES 1,000 a month, and the Devil I don't Guarantees........nothing.

I'll stick with the Devil I know. And so will a majority of Americans.

reply to post by ErEhWoN


No the people have not spoken, mob rule has spoken

No one is forcing anyone here to stay and pay this 'tax' as the OP states.

Yes they are forced to pay since it is automatically deducted from payroll taxes but of course only 6% is deducted someone else has to cover the rest like the employer.

reply to post by ErEhWoN


1000 bucks for 10 years if they are lucky, what about the other 30,40,50 years they are paying for someone else while they are not using it?


That same 1000 bucks that is worth less than they paid in due to infation.

reply to post by Xtrozero

f you need SS then you really F'ed up your life along the way for the past 50 years of working.

Or life F'ed you up. It happens, not everyone lives a fairytale life.

Originally posted by Xtrozero

Originally posted by Rudy2shoes
Old men have a joke,
You are all dieing to give me a weeks pay.

There is an ancient proverb too...If you need SS then you really F'ed up your life along the way for the past 50 years of working.

I F'ed my live as soon as I was born,
there was a cold war from the start.
The only time,
it started to get warm was when,
they were killing people with government protection.
I invested my childhood savings into that killing.

reply to post by AnarchysAngel

Maybe we should all leave and let you guys figure it out.

Don't let the door hit ya
Where the good lord split ya

I will sit around and wait,
as you prove no SS money,
was used to land a man on the moon.

reply to post by Rudy2shoes

If I could have saved the money, I spend on public education,

And, pray tell, how much money is that?

A rough estimate will do. Use Google...

How is that rover on mars,
working out for you young people?

Originally posted by ErEhWoN
reply to post by Rudy2shoes

 

If I could have saved the money, I spend on public education,

And, pray tell, how much money is that?

A rough estimate will do. Use Google...

Google says I am just a useless American,
I am worth more if I had a smartphone and money collected in ads.