So one of the most successful and popular government programs in history is a literal pyramid scheme?
(Social Security is secure)
Well, except for that Unfunded Liabilities thingy......
Hey, why not? Just increase taxes on “the rich” so that they pay their “fair share” and all the extra expense will be covered. The “rich” are an unlimited ATM machine that can fund every single social spending program or increase that the Left can dream up.
If someone is retiring with only ss, then that is either tremendously bad luck over decades or decades of poor decisions.
“Social Security is secure”. That’s a joke.
This woman is a complete loon.
stop taxing the pension cheques!
https://socialsecurityworks.org/about/staff/
All you need to know:
"Democratic House Leader Nancy Pelosi appointed Ms. Altman to a six-year term, starting October 1, 2017, on the Social Security Advisory Board. The seven-person Board is a bipartisan, independent federal government agency established in 1994 to advise the President, Congress, and the Commissioner of Social Security."
What really needs to be done is to logically phase out social security and replace it with a workable and self-funded, not robbable real pension plan and also eliminate the fleecing of America by Wall Street 401K program.
Many workable pension plans exist around the world. Ours is not one of them. Reform is too late for most of the Boomers though. They are going to have to embrace the suck and hope someone can take care of them as they die.
Even those with just the average ss benefit or less than the average ss benefit, life choices helped determine that. Could there have been a better truer investment for what they paid into ss? Yes, sure. But even then, some of their life choices would determine the outcomes of that.
Most often it is the compounding factor of time - earnings compounded over time, is what builds any retirement benefit, or retirment nest egg.
Supposed to increase by a whopping 3% next year. But what is given is easily taken: Medicare is supposed to go way up to compensate for last year and this year increases.
If you live on SS, you will remain poor and have to struggle in your retirement years, before being buried in a paupers grave.
The 401k plan created by Reagan was far more successful.
The Uniparty has worked very hard to cripple it since it was created.
Pretend we’re in the 70s. Let’s take 50% of my SS monthly contribution and put it into a stock market that has risen from approx 700 in the 70s to 35,000 today. The other 50% would remain in the traditional SS program. Which 50% would do better?
Just go traipsing though the endless money orchard picking armsful of cash to pay beneficiaries.
Or something like that.
It’s like she thinks electricity originates in the “hole.”
So It starts - I noticed Potenkim Joe is nominating the left-wing former governor of MD O’Malley that never saw a tax he did not like to head the SS administration.
Without little doubt, there will be a push to increase SS benefits right before the elections to suck in struggling seniors under the build-back better nonsense gaslighting.
Raise Social Security Benefits-
More SS taxes come into Goobermint-
Goobermiont swipes it all and writes IOUs -
Rinse-Repeat
It’s not your money. It’s just another TAX.
The payout is for Goobermint to decide for whom, and how much, at it’s sole discretion.
If you can’t stand in front of it with a gun and protect it, it never really was yours anyway.
More than a decade ago I went to the local Social Security Office to file for my benefits. In a room full of people I was (except for the security guard) the only geezer in the room. Everyone else was there to collect disability.