One way or another the benefits will be cut. It just depends if the seniors take the hit or will they make their children or grandchildren pay for their lack of planning.
Seniors are already taking a hit through inflation and lowered interest rates. There is no way they will ever collect the whole of what they paid into social security because their money has been replaced with government I.O.U.'s which have never kept up with inflation. We seniors are screwed, blued and tattooed.
If seniors are screwed, blued, and tattooed that sucks. but the reaility is that the whole country was sold on a program by FDR that didnt work. The only way it will work is taking about 25% of our children and grandchildrens earnings. This may sound cold hearted but if someone is sold a bill of goods and didnt plan ahead does that make it the future generations problem?
If course it doesn't. The only reason that I am living on it is because I paid into it for the entirety of my working life. I had not choice. The government is prone to stick a gun in your face and insist that you pay them wh**ever they want for wh**ever it is they want to do.
Everyone has paid into it their entire life. Two wrongs dont make a right. If the baby boomers dont take a lot of hurt now it might just bury this country.
FarmerBill wrote:
Everyone has paid into it their entire life. Two wrongs dont make a right. If the baby boomers dont take a lot of hurt now it might just bury this country.
But our hands are tied, aren't they? Can you see any politician, even a Republican taking an axe to social security? Paul Ryan threatens to, but he isn't making any real headway, is he? Oh, and all he wants to do is to change the way it is paid into, not who it covers. What we should do is to phase the gorramned thing out altogether. I started arguing for that while I was in my late thirties.
Yes. Our hands are tied. And no politican will do what needs done to fix the problem because they know when they do they wouldnt win the next e******n. So that means more quanitative easing till our dollar is even more worthless than it is now. And the same politicans will keep getting elected and the next couple generations will have to pay dearly. If this country and form of goverment lasts that long
oldroy
Loc: Western Kansas (No longer in hiding)
FarmerBill wrote:
If seniors are screwed, blued, and tattooed that sucks. but the reaility is that the whole country was sold on a program by FDR that didnt work. The only way it will work is taking about 25% of our children and grandchildrens earnings. This may sound cold hearted but if someone is sold a bill of goods and didnt plan ahead does that make it the future generations problem?
I think I see another of the youngers who really don't know what has happened to Social Security. Let me start out by telling you that the system worked very well till 2010 even though the
Congress was spending what they called the SS surplus taxes. Yes, they managed to call those taxes the same as income taxes for a long time. That all began about 1954 when President Eisenhower talked his Democrat controlled Congress into using that "surplus" for foreign aid. Once we had "bought" all the friends we could with that money they just couldn't stand to see it piling up so they started spending it on all their pork, get re-elected projects. People sat on their butts and watched this happening or they just weren't paying any attention.
All of a sudden 2010 arrived and they had to announce that there was no longer a surplus coming in. Of course, if they had allowed it to "pile up" unspent there would have been over $3 trillion, that is a tr that started that word, in the fund and it may have taken God knows how long to spend it. Get off that FDR crap since he was long dead before the Congress started spending that money.
I am 80 years old and still have a little part time job but they still take from it for Social Security although they held back on any kind of raises for about 3 years. COLA is a dirty word in the Congress, I guess, but I don't think you understand any of this, although I keep trying to explain it to people like you.
oldroy
Loc: Western Kansas (No longer in hiding)
FarmerBill wrote:
Yes. Our hands are tied. And no politican will do what needs done to fix the problem because they know when they do they wouldnt win the next e******n. So that means more quanitative easing till our dollar is even more worthless than it is now. And the same politicans will keep getting elected and the next couple generations will have to pay dearly. If this country and form of goverment lasts that long
You did see me talk about Congress owing Social Security over $3 trillion and now they find themselves with a box full of worthless government paper and no way to raise all that money. Can you understand that it was our money that they wasted all that time to avoid having to raise income taxes? I have been arguing that one for over 50 years which would make me about 30 when I started talking about what was going on.
Nobody told me when I helped my wife create those two boys we brought into this world in the 80s that the Congress would still be spending from that fund, but in essence, that is what they did the last two years by charging lower taxes to Social Security payers. Oh no, it was Bush that cut taxes, not Obama. Well the big O did it too.
You are all right. No party or elected official stopped the spending of the social security money. But, the bottom line is the money is spent and the American public didnt protest the spending either. What can be done now? Either the baby boomers need to take less money or we will saddle our children and grandchildren with worthless U. S. dollars
oldroy
Loc: Western Kansas (No longer in hiding)
FarmerBill wrote:
You are all right. No party or elected official stopped the spending of the social security money. But, the bottom line is the money is spent and the American public didnt protest the spending either. What can be done now? Either the baby boomers need to take less money or we will saddle our children and grandchildren with worthless U. S. dollars
The American public didn't know what was happening till it was too late. Many don't know about what they did, even yet. When they decided to put the SS money in the general fund it was hidden and nobody really knew about it. They screwed us but they have such good retirement plans that they don't need it. They should be forced to take SS when they reach 65 like the rest of us.
Are you old enough to know what happens the day SS kicks in for you. That day you are pushed into Medicare and that won't be so very good for most people from now on. I will never forgot that letter I got from the insurance company about a week before my 65th birthday when I was told I had to go on Medicare. It hasn't been a bad deal, up to now, but after January 1, 2014 it won't be so good for any of us, especially those of us on the plan that has had nearly 70 billion dollars per year removed from it.
If you two old boys don't need your SS money just bank it and pass it on to your survivers that would help them pay their 7%. There are millions of people in the US that depend on their SS check to survive. It has been one of the most sucessfull programs the world has ever known. Furthermore if you think your employer would have paid you 15% more during your working years think again. As long as we have "right to work for less" laws in this country we will need SS. rich278
SS has been great program. If you dont include the fact that SS along with medicare is burying this country in debt.
Somkeone said that they are LIVING on S/S. Thats a Laugh I Truly feel sorry for anyone who has to. You might be able to exist but that would be about it. If you ate only once a day and lived in a slum it Might just might be possible in NY.
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