The “Don’t trust anyone over 30″ generation is now robbing everyone under 30

[The King]

Last edited by sc281; Today at 10:15 AM.

Show us the part(s) edited if you please.

[sc281]

Show us the part(s) edited if you please.

Not that I am under any obligation to, but since you were polite in asking:

Keep laughing, *Chuckles*

That was the edited part. Trying to be less facetious about a real problem in our country.

[The King]

Not that I am under any obligation to, but since you were polite in asking:

Keep laughing, *Chuckles*

That was the edited part. Trying to be less facetious about a real problem in our country.

Thank you, and the edited part could have stayed without causing much if any harm to your point. Don't be concerned about my retirement, since reliance on Social Security and pensions is not factored as an assumption into my plans at all. Meanwhile, all the $$$ my employers and myself have paid into SS can continue to pay today's beneficiaries. They are welcome to it, and I don't begrudge them their benefits one bit. I guess you could say I'm not obsessed with what I pay out today and have for the future, because I'm not high maintenance by any means and will likely do just fine.

[sc281]

Thank you, and the edited part could have stayed without causing much if any harm to your point. Don't be concerned about my retirement, since reliance on Social Security and pensions is not factored as an assumption into my plans at all. Meanwhile, all the $$$ my employers and myself have paid into SS can continue to pay today's beneficiaries. They are welcome to it, and I don't begrudge them their benefits one bit. I guess you could say I'm not obsessed with what I pay out today and have for the future, because I'm not high maintenance by any means and will likely do just fine.

I'm cool with getting from SS what you paid out of it. The problem is, the benefits promised equate to almost 4 generations of contributions, and that's based on rosy CBO estimates.

I just wish they would abolish it, return the premiums paid over your lifetime in one lump sum, and wash their hands of it. Granted, we'll prolly take a 2-3 trillion hit because the "trust fund" is full of IOU's from the Govt that'll have to be paid by borrowing, but 2-3 trillion is a lot easier to pay off than $56 trillion, or however much the undunded liability is guesstimated at for SS.

Heck, I'm even willing to give up what I've paid in in my 10 years of being in the workforce to help see it happen.


It's going to crash, one way or the other. The only difference is how we face it. We can be Greece, who teeters on the cliff edge solely by the grace of the EU bailing them out once a month, or we can be Canada, who saw their entitlement problems and took proactive steps to correct them like starting to roll back their socialized mediceine, budget deficits, etc.

But we all know which path we will take.

[The King]

I'm cool with getting from SS what you paid out of it. The problem is, the benefits promised equate to almost 4 generations of contributions, and that's based on rosy CBO estimates.

I just wish they would abolish it, return the premiums paid over your lifetime in one lump sum, and wash their hands of it. Granted, we'll prolly take a 2-3 trillion hit because the "trust fund" is full of IOU's from the Govt that'll have to be paid by borrowing, but 2-3 trillion is a lot easier to pay off than $56 trillion, or however much the undunded liability is guesstimated at for SS.

Heck, I'm even willing to give up what I've paid in in my 10 years of being in the workforce to help see it happen.


It's going to crash, one way or the other. The only difference is how we face it. We can be Greece, who teeters on the cliff edge solely by the grace of the EU bailing them out once a month, or we can be Canada, who saw their entitlement problems and took proactive steps to correct them like starting to roll back their socialized mediceine, budget deficits, etc.

But we all know which path we will take.

Social Security would also be extremely unlikely to grant a lump sum refund of premiums to workers who have paid into it since your employer(s) have also paid into it and would be equally due a refund. I assume that would make the hit unbearable for Uncle Sam.

[sc281]

Social Security would also be extremely unlikely to grant a lump sum refund of premiums to workers who have paid into it since your employer(s) have also paid into it and would be equally due a refund. I assume that would make the hit unbearable for Uncle Sam.

More or less ubbearable than keeping SS as is?

It's going to happen either way. The numbers can't rectify themselves. This is exactly why entitlements should never be given. There is no way to sustain them, and no painless way to stop them.

here is a crude option:

Stop all contributions now for anyone 50 and under. Raise the retirement age to 70 (ss was only intended to pay for the last couple years of your life originally anyway), put a means test in place to exclude people with assets over $1mm, cut the benefits received by all retirees by a third, and use the trust fund balance to pay those existing benefits, and the benefits people over the age of 50, since they can't reasonably adjust to the change like my age group could.

For anyone 35-49, mandate that the amount that was going for SS contributions (both company and employee) be put into a private retirement account of their choosing, tax deductible and tax free on the income. credit their account equivalent to 1/3 of what they paid in to date, and tell them that will be no SS coming for them.

For anyone under 35. Stop contributions from both employer and employee, and let them know there will be no safety net, and no refund; and they need to save up.

[bubbaearl]

maybe jimmy fucking carter should pay back what he and the fucking democrats stole from it . i've paid in for over 40 fucking years and wont feel one damn bit sorry to collect it .

[slow99]

Lmao, social security is like $20 fucking trillion unfunded.

[Geor!]

Lmao, social security is like $20 fucking trillion unfunded.

You think you're some kind of fucking economist or something, Jack?

[The King]

Lmao, social security is like $20 fucking trillion unfunded.

Obammys 2% cut in employee withholding didn't help it much. Not that I'm opposed to paying less into it, but the shameless reason he did it to gain political fodder is what sucks.

[sc281]

Lmao, social security is like $20 fucking trillion unfunded.

I want your opinion on my last post. What do you think of the idea?

[The King]

maybe jimmy fucking carter should pay back what he and the fucking democrats stole from it . i've paid in for over 40 fucking years and wont feel one damn bit sorry to collect it .

Expect at least a 25% reduction, in the short term, if you're not already retired.

[BERNIE MOSFET]

maybe jimmy fucking carter should pay back what he and the fucking democrats stole from it . i've paid in for over 40 fucking years and wont feel one damn bit sorry to collect it .

How would you feel if it wasn't there to collect?

[sc281]

How would you feel if it wasn't there to collect?

Prolyl the same way you and I feel about it. The only difference is he HOPES it'll be there for him and we KNOW it won't be there for us.

[BERNIE MOSFET]

Prolyl the same way you and I feel about it. The only difference is he HOPES it'll be there for him and we KNOW it won't be there for us.

I hope he gets that point.


I feel like a clairvoyant passenger on the Hindenburg waiting for the whole damned thing to go up in a giant fireball.