Posted on 07/24/2011 5:56:43 PM PDT by UMCRevMom@aol.com
Edited on 07/24/2011 7:15:42 PM PDT by Admin Moderator. [history]
So is there a link to a story here that I missed?
So quit paying your payroll taxes and see what happens.
The problem is that according to the LAW you werent PROMISED anything. The supreme court has ruled on that. You are forced to pay and the government is not REQUIRED to give you anything back.
“His take on the situation is realistic.”
His and your take on the situation is simplistic.
(courtesy ping to Skalgar)
Well, gnat, all you have offered is ad hominem.
Are your math skills so rusty you can’t see a simple Ponzi scheme before your eyes?
Do you think this was anything other than a stupidity tax that should be shut down as soon as possible?
Are you actually saying SS was a good idea that should be continued? And that anyone (actually of any age) should actually depend on it in their retirement planning?
Really?
SS should be shut down ASAP — the contributors given back their money to invest as each sees fit. Cut it off next year — by that time we will be in the early wave of Boomers, who should have known better.
Or do you also suggest we reward more bad decisions?
Ever hear of the Economic principle of “sunk cost?
(for lay people that is “good money after bad”).
>>So quit paying your payroll taxes and see what happens<<
You don’t control that, unless you are the employer.
That isn’t an argument — it is just a silly statement with no forensic value.
>>No need to personalize the discussion, freedumber, because I don’t (depend on it). The fool you need to pity is you. <<
Apparently you do depend on it. You are the fool to pity (see below).
>>Let’s get back to YOUR worry, the worry you expressed about your 401k. That is what you should worry about, because it is a government creature as much as SS, and it will crash with the markets. After all, any bond, note, security, whatever is nothing but a promise to pay and when markets collapse, so will your prized 401k, and it isn’t backed up by the power to tax. <<
I gather you don’t have a 401(k) and are hoping that SS will support you in your dotage. And do you think my 401(k) is my only retirement investment? It is a hedge at best. Its value may fluctuate, but in the long haul I am OK with my portfolio. Taxing it will just piss me off, it won’t break me. And if SS disappears tomorrow, it won’t mean anything to the markets because it doesn’t have any capital base nor investment (such as CalPers) to affect the markets. It might freak the bond markets out for a few months, then all will settle back into equilibrium.
>>You are just too stupid to realize that you may be grateful for the SS retirement benefits you paid into for a whole 30 years, and which you will probably be paying into for another 20 years, at which time you will collect them, and then be glad you did pay into the system.<<
Reading is FUNdamental SS is ZERO in my retirement planning. If it is there, I will use it for leisure and what have you. Hats, vacations, maybe a nicer car, that is what SS will do for me.
You sound like quite the little New Deal supporter. Are you on the right board?
It is not greed to expect to receive what you were promised. But I think you are overstating the case when you imply that contributions to SS and medicare fully paid for the benefits. They did not especially in the case of medicare. Congress never had the courage to raise the contributions or cut SS benefits to reflect the real cost of the benefit as age expectancy increased in the US. That is why we are now in this bind. Medicare costs this nation 900 billion a year and we collect about 10 per cent of that in FICA medicare contributions.Both programs need to be reformed, particularly medicare. Those currently receiving these benefits or close to receiving them should retain them. But for those younger than 55, we need a complete overhaul of medicare.
“by that time we will be in the early wave of Boomers, who should have known better.”
Explain HR.
>>It is not greed to expect to receive what you were promised.<<
I do want to point out — it isn’t greed, just extremely extremely naive (to the point of stupid — sorry, but that is just the truth). And that is no way to do long term planning.
>>Explain HR.<<
Sorry — maybe I had a brain fart but I don’t know to what you refer. Human Resources? House Response? Happy Rabbit?
Just explain it then.
>>Just explain it then.<<
Explain what?
well??
The ADD is real apparently.
“by that time we will be in the early wave of Boomers, who should have known better.”
>>well??<<
Well what?
If you are trying to set me up with something, at least provide some context so I and everyone else can see the set up.
>>The ADD is real apparently.
“by that time we will be in the early wave of Boomers, who should have known better.”<<
Is English your first language?
That is your post.
>>That is your post.<<
Put down the bong and step away.
Ask a complete question, sans acronyms and I will answer it. Please use full grammar: beyond simple NVN — please use adjectives, linking verbs, and adverbs to create cohesive and full sentences and thoughts.
Or quit pestering me.
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