Posted on 11/19/2019 7:17:13 AM PST by karpov
“Democrats will win this one by the numbers. Thats all Im saying.”
They will if people don’t understand it. The point is supposed to be that what you pay into social security should reflect what you eventually take out in some measure. It’s probably somewhere in the charter. Obviously, beyond a certain amount paid in, you are not going to get anything more back - thus is ceases to comply with the basic premise of social security.
That won’t stop them, but it is an argument that has to be spelled out.
“Given the long term problems of Social Security, and the trillions of dollars of assets held by many middle income people in 401K type assets, I can envision future Democrats wanting to borrow our retirement assets, to allegedly prop up Social Security. In reality, if that ever happens, money will be drained away to be spent on other socialist schemes.”
They already proposed something like this back in ‘08 after the crash: move 401ks into “Guaranteed Return Accounts.” Of course, the Argentinians were more honest and just confiscated private retirement accounts outright.
They will probably use the next stock market crash as an excuse to “protect” our 401ks by transferring them to the government for “safekeeping.”
Yes, which is why it probably won’t happen, at least not in the near future. Welfare is still unpopular, and a lot of Dems know it.
Yep, that’s it.
Any such moves will be made to “safeguard” and “protect” our investments. If done after a market correction or downturn, it will be said to be to “protect” us from market forces, so that we get a guaranteed rate of return.
I've come to understand that taxes are also a way by which politicians enrich themselves, by allocating tax money to corrupt organizations (such as Planned Parenthood or Ukraine) who then launder the tax money and kick it back to the politicians in various ways.
...and I’ll get a lot more out of the system than I would have otherwise when I retire right?
Yeah, I think not. Endlessly taking SS tax $$$$$$$ just becomes pure theft if you’re just giving to others and, when it’s my turn, I get a disproportionately less amount than to what I put in.
It’s why I thought there was a cap.
I understand that plenty of people pay very little in and get back way more than they contribute. The point though is that the opposite is not supposed to happen. You’re not supposed to be way more in that you can possibly ever get back.
Ha-Before it’s over they will be calling me ‘rich’. I’ll have to show them the condition of my yard and my 12 year old Mazda
I grant your point. I was using the word “bankruptcy” a bit loosely. Social Security as currently constituted can only pay about 70 percent of promised benefits. For anyone other than government, defaulting on a quarter or a third of one’s obligation would be considered bankruptcy. For Social Security, sovereign immunity means government can default at will. The Supreme Court has been perfectly consistent on this. Social Security benefits can be cancelled any time the government finds it inconvenient to pay. It’s a welfare program, and it’s a crummy investment considering that we force people to participate, ostensibly for their own good.
It is. Ive been a paying into this Ponzi scheme for 45 years and now will start taking my promised monthly payout as promised by the federal government.
Yes, because they’re “public servants,” ya know.
Few things gall me more than that erroneous term.
Good luck combating a social security tax on incomes above $137,000. While I understand the moral arguments against such a move, the simple math is that those making over $137,000 per year are significantly fewer votes than those making less than $137,000 annually.
Americans used to riot over small hikes in taxes on tea.
Liberals are wannabee dictators, and ultimately, we need to either outlast ‘em and enjoy their funerals, or, well, they’re not going to succeed, period.
Well at least you call it for what it is. Its a promise to pay promises.
Many Freepers are dependent on it and nobody like being called welfare dependent. But if all promises made by politicians are sacred then every 6 figure teacher and government pension cannot be touched.
Pretty easy to follow the plan. Cradle-to-grave dependence for everyone for everything, and the Democrat-controlled federal government will be the font from which all benefit flows. We will all be Julia.
“Many Freepers are dependent on it and nobody like being called welfare dependent. But if all promises made by politicians are sacred then every 6 figure teacher and government pension cannot be touched.”
This is by design, of course. Because they are dependent on it, even self-professed conservatives will fight to protect the very welfare state they claim to despise. All the guns in the world seem kind of impotent in the face of that kind of power.
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