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HelicopterOff Topics News & Politics › Republicans introduce Bill to massively cut Social​Security
12-13-2016 09:11 PM  11 months agoPost 1
tommytt1

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Republicans introduce Bill to massively cut Social Security
https://www.yahoo.com/news/gop-intr...-222200857.html

I made a mistake once, but I was wrong?

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12-13-2016 10:02 PM  11 months agoPost 2
spaceman spiff

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I was hoping for privatization or at least a partial privatization of SS. This is just another layer of duct tape like they did in the 80's to hold an inferior system together.

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12-13-2016 10:43 PM  11 months agoPost 3
japan3d

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The way to fix it is quit paying people social security who haven't paid into it.

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12-14-2016 12:09 AM  11 months agoPost 4
Heli_Splatter

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This legislation is Dead on Arrival. All legislation dies at the end of the term. Why it is being introduced now is questionable.

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12-14-2016 12:24 AM  11 months agoPost 5
spaceman spiff

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What i have in mind is variation on the 401K progam which i am a huge fan of.

Here is a hypothetical example to get a rough idea of how it might work. Young guy making a $40,000 salary, and paying 6.2% SS Tax means $2480 a year is going into that SS account. Assume this person is not able to save. (very common problem these days) That $206/month is all they have to work with.

Lets say halfish of that (106$) still goes in the giant SS shoebox, or whereever they keep it, and the other half (100$ ) goes in a new type of account an SS 401k. You can pick from a few middle of the road modest risk funds, a borring money market...

If that person goes with a 1% money market over 46 years of 100$/month that SS401K will have 69K$ in it. ( He is going to have coupon catfood for dinner.)

If that same person goes with a decent fund netting 8%, that SS401k acount hypothetically has 428k$ in it at retirement.

Plug that 428K$ into an annuity estmator. It comes up with 2300$/month. (again, that is only investing half of his SS tax)

money.cnn.com/tools/annuities/
Consider the averages. In June 2011, the average Social Security benefit was $1,180.80 per month. The maximum possible benefit for a worker retiring at age 66 in 2011 is $2,366. But to get this amount, the worker would need to earn the maximum taxable amount, currently $106,800, each year after age 21.
Is big brother really helping us? I would prefer they fade the old system out rather than duct taping it together again and dumping more crap on the grand kids.

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12-14-2016 12:44 AM  11 months agoPost 6
spaceman spiff

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This legislation is Dead on Arrival. All legislation dies at the end of the term. Why it is being introduced now is questionable.
If so, that is pretty bizzare.

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12-14-2016 01:14 AM  11 months agoPost 7
Jerry K

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CIA Agent Says We Need A New Election
There is a difference between investing and stealing. Up to this point the federal guberment has stolen the SS money. To quote a famous idiot put it in a lock box. The whole problem with the SSI system is the money for all these years has been going into the general fund to be pilfered by the ones running the swamp

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12-14-2016 01:51 AM  11 months agoPost 8
tommytt1

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https://www.google.com/amp/www.cbsn.../?client=safari

I made a mistake once, but I was wrong?

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12-14-2016 02:58 AM  11 months agoPost 9
baby uh1

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St. James, Mo.

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I don't know why they are trying to make SS solvent as they all know that the dems will just steal the money to buy votes from illegals and professional welfare cheats. Just like every time before.

Anything is possible if you don't know what you are talking about!

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12-14-2016 04:36 AM  11 months agoPost 10
japan3d

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Do it like Japan. When you start a job pick a percentage of your pay that is put away. When you retire, have the choice of a lump sum payout or monthly payouts. You only get back what you paid into it.

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12-14-2016 04:58 AM  11 months agoPost 11
dilberteinstein

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baby uh1

I don't know why they are trying to make SS solvent as they all know that the dems will just steal the money to buy votes from illegals and professional welfare cheats. Just like every time before.
You speak the truth.

90% of life is "showing up"

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12-14-2016 05:29 AM  11 months agoPost 12
spaceman spiff

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Tucson

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http://www.tokyofoundation.org/en/a...curity-in-japan

Looks Japan has the same tiger by the tail as we do.

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12-14-2016 01:46 PM  11 months agoPost 13
tommytt1

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https://www.facebook.com/OccupyDemo...47765261983191/

I made a mistake once, but I was wrong?

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12-14-2016 02:36 PM  11 months agoPost 14
spaceman spiff

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12-14-2016 02:58 PM  11 months agoPost 15
tommytt1

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THIS IS FACT

AND THIS IS FICTION
I don't know why they are trying to make SS solvent as they all know that the dems will just steal the money to buy votes from illegals and professional welfare cheats. Just like every time before.

I made a mistake once, but I was wrong?

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12-14-2016 03:23 PM  11 months agoPost 16
spaceman spiff

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Sounds like a good point for eliminating Social Security.

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12-14-2016 03:32 PM  11 months agoPost 17
tommytt1

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Mercerville, NJ, USA

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We're in too deep. Just lift the threshold, make the fund untouchable and it's fixed. Pat Toomy's plan of privatization would have lost all the money completely. Just a get rich quick scheme for investment bankers......

A 401k is great until the market crashes again. I guess you know it's leveraged 10x higher than before and is regulated less than ever. Thieves will be thieves.

I made a mistake once, but I was wrong?

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12-14-2016 03:38 PM  11 months agoPost 18
tommytt1

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Mercerville, NJ, USA

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By the way, I have a Pension, Anuity, and Social Security. And have been invested in SS for a long time.

I made a mistake once, but I was wrong?

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12-14-2016 03:42 PM  11 months agoPost 19
nitro fun

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12-14-2016 03:44 PM  11 months agoPost 20
spaceman spiff

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Tucson

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The US has declared Bankruptsy 5 times. Security? Hahahaha.

I have seen a few minutes of cspan. Send them money to put in a super nice shoebox for me? No thanks.

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