How GOP Social Security Cuts Will Hurt You

I am an ARCH-Conservative on all economic matters,but I'm also rock-solid in my belief that people who have been forced by LAW to pay into these social systems DESERVE to collect the money that they have EARNED because those are the conditions under which they worked all their lives!

The Social Security system is fully-funded through the year 2032, and by then a lot of Boomers will be DEAD. DEAD people don't get to collect Social Security benefits! If the Republican Party knows what is good for it they will leave the basic "deal" alone for everyone over the age of 60 -- NO changes whatsoever. If Trump or any of the rest of them wants to roll out new "opportunities" to enrich their SS payouts when it's time for younger people to collect, then that's FINE with me. They can choose to "privatize" their accounts, or roll it all into the stock market, or whatever they want to do -- BUT, they'd damn well better leave MY Social Security alone.

Yeah, I'm a Boomer, who has put off collecting any of my benefits until they max-out. And every damned penny had better be coming to me, right on time, when I finally pull the trigger". Any political party that tries to screw working taxpayers out of benefits that they have EARNED is committing political SUICIDE. Republicans have the ability to make life-long Conservatives like me vote for Democrats -- all they have to do is start talking about screwing people out of their earned Social Security benefits.

 

I agree.

 

Yes amazing how easy it is to spend other people's money. That endless "just a little bit more" thingy. The system needs drastic reform not increase contribution rates.

 

Don't know how it really is working, huh?

 

I have worked all my life. I worked in construction pouring concrete, as a carpenter, and as a pipe fitter. Then I spent 18 years in a foundry working the finish line and making cores. I find it insulting that you would claim I don't know what really working is. Do you?

 

I don't care how a person made their living when working -- they can be a concrete contractor or a poetry author. Each person deserves exactly what he/she has EARNED... no more, and for damned sure, NO LESS.

Hint: What ruined (really ruined) Crusader Rick Santorum and Governor "Butter-tub" Christie? They started blowing around about cutting Social Security benefits to EVERYBODY. That is nothing but criminal confiscation bull(*)(*)(*)(*)! If the government wants to cut people off from SS who have filed bogus, fraudulent "disability" claims or things like that, then that's fine, and it is exactly what the government SHOULD do. But politicians had better leave EARNED benefits alone, or their careers will be abruptly terminated!

I've been a Conservative Republican all my adult life, and I worked in Ronald Reagan's political campaigns, but I'll start voting liberal Democrat in a HEARTBEAT if Republicans start trying to screw me out of benefits I have EARNED....

 

Even if I didn't work a day in my life the money is mine and was taken from me and no one else.

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I also agree with this.

 

Quite simply, given our overall financial health as a country, I have no problem with "just a little bit more" but YES I will say that the system needs drastic reform as well, I'm hoping to see some of that with the new administration but i'll take a wait and see attitude first. It won't be easy to beat the system, they won't give up w/o a fight.

 

We don't need higher rates on the working people we need more working people.

 

No, it should be what it is, an insurance program to guarantee a basic income in the event people don't have a defined benefit plan, defined contribution plan --a 401(k) plan -- or are unable to maintain their own personal savings or investment plan.

 

With a reformed system all working people would have personal accounts. Their payroll taxes would fund those accounts. It's a vastly superior system because the return is much greater and there are death benefits for account holders beneficiaries. Why should low income earners without the benefits of an IRA or 401k be deprived of the benefits of the economic growth of the US and their beneficiaries be deprived of the accumulated payroll taxes if those low income earners pass away prematurely ??

 

Because that is how insurance works.

If you die, your spouse and heirs don't get a refund on your auto or home-owners premium payments.

If you want low income earners to have the benefits of a defined contribution plan like a 401(k), or a savings like an IRA, then both the State and federal governments need to enact legislation that would make it conducive for them to exist.

80,536,698 wage earners (50% of all wage earners) earn less than $30,000 per year.

https://www.ssa.gov/cgi-bin/netcomp.cgi?year=2015

Since they're focused on things like X-Box, beer, dope and tattoos, you're going to need to levy a special payroll tax to deduct money from their wages and put in in a 401(k) or IRA.

3.5% of their wages should be sufficient.

 

That's what privatizing the social security system would do. Set up retirement accounts instead of a pool with all the advantages that go with that. The funding would come from the 12% payroll taxes which everyone pays. Of course legislation would be required.