Social Security Expected to Dip Into Its Reserves This Year

I would not be against it disappearing. It would be better to remove the government as much as possible and encourage personal accounts like 401k and HSA.

Still, I won't put up with the government reducing the social security program while not reducing the funds I pay to social security. If they instead let corporations pay less while making me pay the same toward social security while lowering ss benefits they will lose my vote and they will hence forth be known to me as corporatists, not capitalists.

 

More donald fighting for the little guy while passing out big tax cuts mostly benefiting the m/billionaires.

What suckers they were to vote for him.

 

https://www.ssa.gov/OACT/progdata/fundFAQ.html

 

The Canadians understand better than we do that it's best not to pay for debt with more debt.

http://www.cppib.com/en/public-media/headlines/2018/cpp-third-quarter-fiscal-2018/

Because nothing screams great investment like when the money used to pay out returns comes from the same place as the money used to buy it.

 

That is to ask if there is any investment whose return is not hard cash in hand. And the answer is "yes, most investments fit that description". The most obvious ones would be Treasury securities, U.S. Savings Bonds, money market funds, bonds, and even your bank savings account. All of them owe the money invested plus interest, but you don't receive it in hand until you demand it. Bonds, T-Bills and other Treasuries may be the exceptions, actually, as they can and often do send interest to the holder of the asset on a monthly or other basis. But even that return is not cash. It's an "IOU" that the bearer must cash in to get the dollar bills.

Now, you said "a debt based asset is only as good as debtor's ability to make good." Are you saying that such assets are an unacceptable risk because of the chance that the debtor won't pay up?

And which do you think is safer, a corporate bond or a T-Bill?

 

lolololol..... nice over confident fail

 

THANK YOU !!!!

Finally someone who understands HOW SS works. The "trust fund" is DESIGNED this way !

 

this is utter bull ****. I've calculated many times with the new age requirements and my income. I'll receive a negative return if I live 5 years past current life expectancy

 

You mean the whopping $255.00? You would have a point if we were still in living in the days where Mrs. Cleaver stayed home with the kids and her husband was the sole provider. She would receive his benefits if he passed away.

In real life, both work and pay into SS. Does the surviving spouse receive the same amount when their spouse passes away, or do they take a huge hit in their income?

 

You're playing semantics and you know it. Treasury securities and US bonds pay interest periodically or at maturity and it's not paid in more of treasury securities or bonds. There's no other case where the debtor simply spends the interest you're owed and says "I owe you this now".

I just saw your edit. Are you insinuating that holders of debt, government or otherwise, have never lost their money? I'll agree that's not the US right now, but you'd be crazy to say what I said is factually incorrect.

Since we're on the topic, where does the money used to buy debt come from? Where does the money used to pay interest on the debt come from?

 

Yes, the government has run up a lot of debt which makes paying SS and Medicare for the boomers more expensive now.

But look at the bright side. The m/billionaires were able to get lots more of the nation's income and wealth from the tax cuts Republicans gave them.

 

Yeah, the Canadians understand that if they want retirement benefits, they have to pay for them, and, thus, fund the system adequately.

Many Americans, on the other hand, especially those of the RW denomination, want the benefits, but they don't want to pay for them. Thus, retirement, both private and public, is constantly underfunded, because money has to be "given back" to the tax payers. This is an ongoing scheme to destroy SS and, eventually, government, by bankrupting them. Starve the beast, this philosophy, while not openly advertised anymore, has always been a hallmark of GOP tax policy. These days, the slogan is "tax cuts pay for themselves" -- as if.

 

You just exposed your own trickery and disinformation. A valid study as I suggested would show a greater return if you outlive your life expectancy! It's like the case of an annuitized annuity. You come out ahead more and more the longer you live. The insurance company comes out ahead the earlier you die. So either your post is just more bullshit, or you made an error in your spreadsheet. You decide which.

 

U.S. Savings Bonds do. I just inherited a few thousand in U.S. Savings Bonds and the principle and interest wasn't sitting in a vault somewhere as dollar bills. In fact, the whole purpose of the program was to generate revenue for the government to SPEND.

Don't get me wrong. I'm not saying debt is good. The truth is that the US is in a state of collapse and the ordinary people will be left holding the bag.

 

Where in the world did you get the figure 255.00? A surviving spouse has the option of collecting the other's SS benefits. Those benefits are determined by how much that spouse paid into SS.

 

Its your presentation give me a brief outline of what they do. And is that a government organization or a private organization?

 

It sickens me to know there are people living off the fruits of my labor.

 

That's what happened in the past why are you laughing?

 

Exactly. Chiefs fan are ya? Raider Nation here. I hope Mahomes throws 25 ints next season. Seriously though it should be a good season.

 

And you are driving on roads that are "fruits" of other peoples labor. Those police? Other people's labor as well. We are a collective whether you like it or not. This isn't up for debate. You benefit from others. Deal with it snowflake.

 

The idea that social security isn't possible is completely ridiculous, several western countries are running similar (better) versions of old age security, including here in Canada, which not only work but pay out far more than the American system. People who are peddling this idea that it's just an utopian fantasy... Jesus, get out of the country, learn how the world works outside your little bubble.

 

Yep.

Just remove the income cap ($128,400) on SS tax that means the m/billionaires don't effectively pay SS taxes as a percentage of their income. And make it applicable to investment income as well. That should keep it well funded forever.

 

So you would have the govt take your money and pick what stocks to invest it in?
Obama would have put it all in green energy and Trump in casinos.
I don't think it's a good idea for govt to have a Yuge influence over the market.
It would also put an artificial top on the market as boomers phase out. Lots of reasons not to do it.

 

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Careful there. How do you know that you'll never live off the fruits of someone else's labor? It happened to my dad, converted in one unfortunate moment from a productive member of society to what the likes of you would call a moocher, living off your labor.