Social Security 2100 Act: Reform in 2019!?! | Devin Carroll

I think I recall the George W Bush solution was to privatize SS.

 

tie it to Congresses cost of living increases... problem solved

 

the plan to gamble it on the stock market

I said at the time, how about the government guarantee it, if when you go to retire, the stock market is worth less, you get what you would of got with SS as it is today (Republicans would not agree to that though, they thought it was too big a gamble as the stock market might crash)

 

There were 6 plans to choose from. Imagine all those who would have bought stocks in 2009. Their stock would have doubled or tripled by now.

If they did not want stocks, they could pick one of the other 5 plans. But heck no, Democrats want the boys in congress to choose for you and for you to pound salt.

 

It's all a Ponzi scheme.

Let SS die a natural death.

 

yeah, look how many lost everything in the stock markets, as long as there is a back up social security program for the elderly and disabled that lose everythgin in the market

you should gladly agree to such a government guarantee if you think there is no way one could lose their retirement money in the stock market

add in the guarantee.....

 

There is no "surplus." It's just IOUs that must be paid for taxpayers when they are called in.

 

There will be a surplus if we make everyone pay the same social security tax rate and raise the minimum wage. We can then invest that surplus to help fund the program in the future.

 

I'm all for it.

Whether you eliminate the wage cap or not, the FICA payroll taxes must be increased by 1.8% to 2.2%.to sustain the program.

Increasing the FICA payroll tax now allows for increasing the tax incrementally in small steps to avoid any economic shocks.

If Congress waits another 6-10 years, like it usually does, then they won't be able to incrementally increase the tax.

False.

Social security was created by a Republican governor.

Several States followed suit creating social security schemes of their own.

When FDR was governor of New York State, he borrowed elements from several State plans to create social security for New York residents.

At the time the Social Security Act of 1935 was enacted, 35 of 48 States had social security systems, and all but three States had pending legislation, while the remaining three had commissions studying the issue.

Then properly educate them to understand that their retirement consists of three components: their pension or 401(k) plan, their personal investments and savings, and Social Security.

False.

Eliminating the cap will only generate an additional $126 Billion per year.

When you're paying out $129 Billion per month, and that's what you'll be paying within a few short years, an extra $126 Billion per year isn't going save the program.

Congratulations!

You just created a perpetual perennial 14% UE Rate.

Good luck with that.

False.

Social Security was never based on Life Expectancy from Birth.

Social Security was developed from actuarial science based on Life Expectancy from Age 65.

Life Expectancy from Age 65 has increased 6 years for males and 7 years for females since Social Security's implementation.

Of the 35 States that had social security programs at the time the Social Security Act of 1935 was enacted, 29 States had set the retirement age at 65 years, and 6 States had set the retirement age at 70 years.

That fact, plus the actuarial science based on Life Expectancy from Age 65 are the two primary reasons age 65 was set as the retirement age.

False.

The ratio of Workers to Beneficiaries will ultimate flat-line at 2.1 to 1.

Because that is true, it is possible to set the FICA payroll tax rate to perpetually fund Social Security in perpetuity, without the need for any additional tax increases.

 

It is obscene that the richest nation in the world is in such a fiscal mess and a bastion of fiscal corruption. The theft of SS funds (on the basis of some further promise to pay) was abject idiocy. Who in their right mind did not believe that this was a fiscal disaster. Back when this was legalized did these folks not realize that the nature of Gov't is to spend everything it has ?

Yet - this practice continued throughout every administration and congress. Just another example of how corrupt our system is.

 

What theft are we talking about here? 72% goes in the social security fund, 16% goes to the SS disabled benefits, 9% goes to survivor benefits, and less than 1% goes to administrative costs.
https://www.incharge.org/financial-literacy/where-do-my-social-security-tax-dollars-go/

 

The interest on the fund goes into general revenue

 

that is a surplus, but that said, Democrats can just declare a national emergency and save Social Security when they regain power

 

no, we do not need to raise the retirement age to 72, we need to lower it to 65

the Average America will live to 78 years old, let them retire at 65 and give those jobs to the younger ones

 

I got mine, maxed out at age 70

So. - - - What Me Worry?

YOU worry, I got mine

 

I am getting up there in age too, got mine unless republican destroy the program, but I would hope we keep this program for future generations as well

that said, thanks to Trump's abuse of the national emergency for the wall, now dems can save Social Security by simply declaring a national emergency and taking money from the military like Trump did for his wall

 

why do republicans want to kill Social Security?

 

The greedy Wall Street Casino Bosses are running out of things to loot!

 

Because after paying into SS for 45 years with an income over $100,000, I'll get a measly $1,600 per month. And it will become insolvent in 2027, just three years after I retire. It sucks.

I could have fared so much better with a private account.

 

And how much have you gotten back from your car or homeowner insurance?

No one is stopping you from investing yourself!.....What would you be saying if in your 30s you became disabled, or got a fatal disease?......Yea I thought so.

Sure is twisted thinking, gimme,gimme gimme, the GOP way!

 

We don't have any lack of jobs at the moment. We do need to raise the retirement age because the ratio of SS payers to beneficiaries will be 2 to 1. That will break the system.

 

Hell just get rid of all social safety nets, and we can look like civilization has looked for most of the history of civilization. No money? Hell, tough sh*t, so starve.

I don't think cons will be happy until this happens. But then, I do not think their ideological beliefs, many of them, are grounded in anything resembling reality. They in their own ways, have their own unicorn and rainbow thinking.

 

Any IRA or Keogh plans. @FreshAir

My IRA pretty well dissolved over repeated pan market meltdowns.
What ever happened to safe, long term investments?
The Gov't pushing people to invest for their "Golden Years"
in the stock market is as good as suggesting they go to a
casino and gamble as a plan to build their retirement.

Stock Market investing for retirement was a stoopid idea.
Lots of oldsters who put their retirement in such plans will now suffer.
We need an honest, Pension System people can choose to add to their
Social Security.


Moi
Thank The Lord
I Got A Pension too.

​

 

that is not true, you will get much more then that unless you retired as soon as possible

if you retire at 70, will be around $4000.00 a month with your highest 35 years income

goto

https://secure.ssa.gov/mySSA/start

 

no we do not need to raise the retirement age to 72, but I think republicans should run on that

the baby boomers paid in, just cause the government already spent it does not mean now we need to raise the age