But--those of you viewing at home, say it with me--there is no trust fund! That money has all been spent. We are running current ops on it, and have been for the past forty years! How do you cash out an account that's overdrawn?!?!?!
"It is not unlike any other bankruptcy - pay the creditors in proportion to their stake. Everybody is on their own."
If that is the case, we'd screw the current seniors even harder. Some of these SOBs sure deserve that, but there is no way in hell most seniors will ever accept or deserve such a 'proportional share' of the 'trust fund,' when that will equal a big fat zilch. And we'd never get the votes for such a plan. Even if we allotted a certain amount of money as a minimum for everyone, or a total amount to allocate, even guaranteed a certain proportion of the money paid in by EVERYONE, it'd never fly if the seniors didn't get every penny they paid in. Never. That is why we MUST pay them every penny plus interest, not because they are more deserving of it than Gen X, but from a purely pragmatic perspective--we'll never get anything accomplished if we don't.
"Then one has charity for the destitute. For example, our church supports those in need. However, support is contingent upon getting and heeding sound financial counsel - like making and adhering to a budget. Why should those who have been prudent sacrifice to enable those who act profligately?
Agreed, but let those charitable works be done by charities, not government. Government shouldn't have been in the charity business to begin with, and if it is in that business, at LEAST it should call it that, instead of pretending it's a savings account or trust fund.
Of course, as long as we're fantasizing, I'd also like Stephanie Seymour (in her prime) sitting on my lap.
But--those of you viewing at home, say it with me--there is no trust fund! That money has all been spent. We are running current ops on it, and have been for the past forty years! How do you cash out an account that's overdrawn?!?!?!
True enough, as far as it goes. Correct me it I'm wrong, but is not the trust fund holding T-Bills? If so, assign the T-bills proportionally. If people want income sooner, they can sell the T-bills for a cash settlement.
That is why we MUST pay them every penny plus interest, not because they are more deserving of it than Gen X, but from a purely pragmatic perspective--we'll never get anything accomplished if we don't.
I could live with this. I would benefit; however for the sake of my children I would prefer the former option.
Agreed, but let those charitable works be done by charities, not government. Government shouldn't have been in the charity business to begin with
I agree. Charity must include accountability, otherwise it simply enables irresponsible behavior. I really liked Marvin Olasky's book - The Tragedy of American Compassion. Too many see government as a free candy store.
Of course, as long as we're fantasizing, I'd also like Stephanie Seymour (in her prime) sitting on my lap.
Guess I'm showing my age; I had to Google to find out who she is; I guess I was always partial to Jane Seymour in her prime....
>That is why we MUST pay them every penny plus interest, not because they are more deserving of it than Gen X, but from a purely pragmatic perspective--we'll never get anything accomplished if we don't. <
I'm ***planning*** on never collecting a nickel. Talk of any kind of payout is just silly. The realization that SS is a vast con game is not a recent one--I didn't plan on having a nickel left in place to collect back in the early 1970s. Anyone who planned otherwise was delusional then.