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2017-07-15 Government
Social Security Trust Funds to Be Depleted in 17 Years
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Posted by Fred 2017-07-15 00:00|| E-Mail|| Front Page|| [509 views ]  Top

#1 When they promise you higher-interest-paying stipends just for signing over your 401K....
Posted by Frank G 2017-07-15 00:50||   2017-07-15 00:50|| Front Page Top

#2 The 'Hysteria' overlay caused me to go into hysterical laughter. Very good indeed and very appropriate!
Posted by Seeking cure for ignorance 2017-07-15 01:40||   2017-07-15 01:40|| Front Page Top

#3 Watch for a 'needs based' solution. We cannot neglect the children.

[sarc off]
Posted by Besoeker 2017-07-15 04:23||   2017-07-15 04:23|| Front Page Top

#4 Look forward to the 80% tax on all 401K assets.
Posted by AlanC 2017-07-15 08:40||   2017-07-15 08:40|| Front Page Top

#5 Just about when I'm done with it.
Posted by Skidmark 2017-07-15 08:42||   2017-07-15 08:42|| Front Page Top

#6 Look forward to the 80% tax on all 401K assets.

I think they will just mandate that the government 'manage it' for you to keep you safe. They already have a precedent in Healthcare. So that everyone gets a fair piece of your hard earned pie.
Posted by CrazyFool 2017-07-15 10:59||   2017-07-15 10:59|| Front Page Top

#7 Repeat after me - there is NO Trust Fund.
Posted by Iblis 2017-07-15 11:08||   2017-07-15 11:08|| Front Page Top

#8 There is no Trust Fund. Simply collect the same FICA deduction as at present, but on all earned income, without any upper limit. ~15% off the bonuses paid to financial oligarchs will do wonders to keep Social Security.
Posted by Anguper Hupomosing9418 2017-07-15 11:35||   2017-07-15 11:35|| Front Page Top

#9 When Social Security was enacted in the 1930s, the average life expectancy was around 61. Today the life expectancy is around 78. So in the 30s, people might collect Social Security for a few years before dying. Today, people routinely collect it for 20 years or more.

I have never looked at FICA as a savings account. It is just another tax. I helped pay my dad's social security payments until he died. My sons will help pay mine. I don't know who will pay theirs.
Posted by Rambler in Virginia 2017-07-15 11:53||   2017-07-15 11:53|| Front Page Top

#10 How about getting the slugs off the TIT that never paid a dime IN?
Posted by William Glosson  2017-07-15 11:58||   2017-07-15 11:58|| Front Page Top

#11 ...it's always virtuous to spend other peoples money to appear generous and enlightened, isn't it. Besides, MILLIONS will die if we don't. (do I need to put a /sarc on that?)
Posted by Procopius2k 2017-07-15 12:09||   2017-07-15 12:09|| Front Page Top

#12 My sons will help pay mine.

Except the ratio of working sons to retirees was a good deal higher then than it is now. It's gone from 10:1 to 4:1 to 2:1, and from most dying before they retire to most collecting for an average of two decades, plus supporting non-working widows and orphans. The burden collected from worker paychecks has about doubled from what was taken when I had my first job, I think, and no doubt it will need to increase again to keep current promises, taking with it the ability of the younger generation to pay off college loans and save to get married, buy a house, and all the other costs of adulthood.
Posted by trailing wife 2017-07-15 12:43||   2017-07-15 12:43|| Front Page Top

#13 But you see, - the kids who will be unable to pay their collage loans, marry, and get a house won't see that as the cause. They will be told that it's because 'the man' is keeping them down or racism or sexism or *phobia or corporate greed and if we would only adopt socialism all will be well...
Posted by CrazyFool 2017-07-15 13:06||   2017-07-15 13:06|| Front Page Top

#14 I could have added - to emphasize tw's point - my grandparents had 9 children, my father had five, and I had five. My sons altogether have only given me five grandchildren.

Although the US is nowhere near as bad off as Europe, we are not reproducing at or above the replacement rate. The only reason the US population is increasing is because of immigration (legal and illegal).
Posted by Rambler in Virginia 2017-07-15 13:12||   2017-07-15 13:12|| Front Page Top

#15 Thanks for re-populating Virginia. I've always had a soft spot in my heart for that state.
Posted by Besoeker 2017-07-15 16:12||   2017-07-15 16:12|| Front Page Top

22:53 Richard Aubrey
21:46 SteveS
21:40 Seeking cure for ignorance
21:30 ed in texas
21:27 ed in texas
21:24 ed in texas
21:22 ed in texas
21:13 Anomalous Sources
20:42 Anguper Hupomosing9418
20:37 Pliny Glons2836
20:17 gorb
20:15 gorb
20:12 jpal
19:00 CrazyFool
18:45 magpie
18:43 DarthVader
18:26 JohnQC
18:10 Silentbrick
17:44 Anomalous Sources
17:42 Anomalous Sources
17:33 Anomalous Sources
17:02 Bright Pebbles
17:00 Threatch Jeamp8135
16:49 Captain Sinatra3334

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