Posted on 01/13/2023 9:58:29 AM PST by SeekAndFind
Government screws up everything
Compare your medicare cost to what you’d pay on the open market at that age.
however infact we DID indeed pay in....for me, it was well over 40 yrs...husband the same....
I worked at nonprofit hospitals without defined pensions so SS is IT for me...that and whatever I saved....
“give everybody whatever they paid in plus their employers contributions.”
So rack up the debt a 10s of trillions more to pay for this socialist entitlement scam?
Medicare for all of them....
I feel the same way about banking/checking accounts. Why can't people without money in their account write checks, when plenty of people have money just setting in their accounts doing nothing?
There'd be a huge cost to the government up front, but it'd keep the cancer from growing further. And when you think about the gargantuan spending bills that have been passed lately, this large bill would actually accomplish something by keeping the debt from growing for more generations.
That is why the holder of the funds must invest wisely so that your investment grows. Most people that have money in banks with guaranteed interest always get more out than they put in. Government does not invest wisely, in fact they don't invest at all. Maybe SS should be converted to a credit card and use the same collection agency as real cards do.
And if they refuse to eat cake, then what? We have a very different population than we did during the depression.
Have you compared the amount being paid out in government pensions to SS payouts? Might be interesting to know.
What has to be done is to reduce Health Care Costs from 20% of GDP down to where it’s supposed to be, 5%. The only way to do that is destroy the Medical Cartels and Health Insurance Cartels by Anti-Trust to force the costs down by say 80% or more. Then you have saved Medicare and SS.
Of course about 2 Million plus people in Health Care will lose their jobs. But no one wants to do that, so a collapse of the system is going to come.
20% of GDP for Health Care is not sustainable.
Good one. I can see Jessie Watters asking that to people-on-the-street on his show, and them stopping to think ...
Ping
Why must everything constantly cost more? Maybe because our money system is fake and unconstitutional which no one seems to care about. After WW II prices remained constant for several years, why was that?
“””Most people have not paid in what they get out,”””
You need to consider this.
If the average worker had been able to put the Social Security Tax into a private account that invested in Treasury Bonds, then today the average worker would hundreds of thousands of dollars in their private account earning what they now receive from SS.
And when that average worker dies, the principal in that private account would go to the worker’s heirs.
For the government pensions it’s easy to calculate. It’s 1% for each year of service against an average of youtube high 3 salaries. So a 40 year career will get you a 40% salary pension. The old fed pensions and many state pension now are way overly generous.
Social security is a BS scam. Someone who pays in half as much gets 80% of the benefit. The third bend point is 15$. To understand how SS funnel monies to lower payed people you have to understand the bend points.
Means test payouts. That’s about the only way I can think of it being ‘saved’
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Up yours!
give everybody whatever they paid in plus their employers contributions
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Plus 5 0 years worth of interest.
I’m sure you’re correct.
So many of us old folks are running up big bucks in medical bills.
Covid didn’t kill enough of us.
One would like to think so, but it wouldn’t help.
Any excess beyond each year’s Social Security deficit would be spent immediately. This would give Congress a shot in the arm to spend even more money they don’t have and never will.
The ONLY thing that can truly save the program is to gradually transition to a public/private insurance annuity program. People should be given the choice between having their contributions and those from their employer invested on their behalf in assets that grow in value and produce income, or leave them in the 1940s relic to be spent on current beneficiaries with no guarantee of any payout .
I have my daughter enrolled in a policy with New York Life that has paid out a 5.5+% rate of return every year for 170 years. It’s essentially what Social Security would be if it wasn’t designed and run by chimpanzees.
She’s on track to having over a million dollars at age 60, just from this one investment vehicle. And at whatever age she passes away, she will leave the remainder of her accumulated dividends plus substantial death benefit to her heirs.
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