At the demise of the Society Union, they had ONE welfare program. It was old age pension. The satellite countries assumed that obligation for their citizens.
Oh for cryin out loud..
This question again???
If we have untold billions to send to other countries, untold billions to pay to illegal immigrants, untold billions to buy bullets for government agencies, then we have the cash to pay to people that paid into this system.
Period.
End of discussion.
y’all can nevuh run out of muh-nee when ya gots a printing press.
Turn it on . . . and Leave It On!
paper the planet
it’s never been more clear; recipients *MUST* be prepared to take a SS cut in order to fully-fund war, illegals and sexual transplants.
If I remember my history, when the SS system was designed you could retire at 62. The life span of a man was about 57 so there was no chance of the system going broke.
Then came Penicillin and other antibiotics and life spans shot up Up UP! Now the SS is on the verge of collapse.
Here is what was promised back in 1964...
https://www.ssa.gov/history/ssa/usa1964-2.html
Self-Supporting
“The program is designed so that contributions plus interest on the investments of the social security trust funds will be sufficient to meet all of the costs of benefits and administration, now and into the indefinite future—without any subsidy from the general funds of the Government. Both the Congress and the Executive Branch, regardless of political party in power, have scrupulously provided in advance for full financing of all liberalizations in the program.”
John McCain said that Social Security is easy to fix — you just tweak the knobs. He’s got a point. It’s not all or nothing.
The biggest knob of all is for the government to create money to make the payments. But that generates additional interest payments for taxpayers unless the loans are defaulted on.
Just print more fiat money.
Put the congressman on social security. It would be fixed the next day!!
Galveston County: A Model for Social Security Reform - 2005
https://www.ncpathinktank.org/pdfs/ba514.pdf
FTA: We’ve averaged an annual rate of return of about 6.5 percent over 24 years.
Workers making $17,000 a year are expected to receive about 50 percent more per month on our alternative plan than on Social Security - $1,036 instead of $683. [See the Figure.]
Workers making $26,000 a year will make almost double Social Security’s return - $1,500 instead of $853.
Workers making $51,000 a year will get $3,103 instead of $1,368.
Workers making $75,000 or more will nearly triple Social Security - $4,540 instead of $1,645.
Galveston County’s survivorship benefits pay four times a worker’s annual salary - a minimum of $75,000 to a maximum $215,000 - versus Social Security, which forces widows to wait until age 60 to qualify for benefits, or provides 75 percent of a worker’s salary for school-age children.
In Galveston, if the worker dies before retirement, the survivors receive not only the full survivorship but get generous accidental death benefits, too. Galveston County’s disability benefit also pays more: 60 percent of an individual’s salary, better than Social Security’s.
_________________________________________
How Three Texas Counties Created Personal Social Security Accounts and Prospered - 2011
https://www.forbes.com/sites/merrillmatthews/2011/05/12/how-three-texas-counties-created-personal-social-security-accounts-and-prospered/?sh=5ac504623283
A lower-middle income worker making about $26,000 at retirement would get about $1,007 a month under Social Security, but $1,826 under the Alternate Plan, according to First Financials calculations.
A middle-income worker making $51,200 would get about $1,540 monthly from Social Security, but $3,600 from the banking model.
And a high-income worker who maxed out on his Social Security contribution every year would receive about $2,500 a month from Social Security vs. $5,000 to $6,000 a month from the Alternate Plan.
Most people do not understand this.
For somebody retiring today, they should have at least one million dollars in IRA/401k savings. Using the 4% rule, they would withdraw $40,000 the first year of their retirement (and increase that each year by the inflation rate).
The third pillar would be income from either a part-time job, monetization on social media, or rental income, just to name three sources.
The average Social Security check for somebody retiring at age 65 will be $33,733 per year.
So right there, you have $73,733 in your first year of retirement plus whatever you make in your part-time job or rental income.