Replies

You only need to watch Lou Dobbs once in a while to see how the middle class is being screwed by Wall Street. Wall Street managing directors are pulling down holiday bonuses of $50 million apiece from a bonus pool that aggregates multiple tens of billions of dollars earned on the backs of all of middle class investors. From the employers and past employers of these people, the list of corporate executives pulling down annual compensation packages of $50 million or more is getting beyond belief. The losing management teams in corporate takeover wars are walking away with $50 million personal settlements for doing goodness knows what. I have never seen anything like this.

This is what happens when people like you place their trust in Wall Street. The SS system provides a safety net for the losers in Wall Street's "investment" schemes.

You do know even the SS trustees say that by ~2040 all SS funds will be exhausted and outgoing funds will far outstrip incoming contributions. I have seen estimates that a payroll tax ranging from 25-40% and probable benefits reductions will be necessary for SS to meet its obligations. I also don't think those figures include Medicare, and as we all know medicals costs are far outpacing inflation. I believe that Medicare expenses may someday eclipse Social Security's.

I wanted to ask about your rant concerning corporate compensation,.... so what? What difference does it make how much they are paid, if you don't like it don't invest.

Finally you are right IMO about one thing SS was suppose to be a safety net, basically so you'll have food to stay alive and a place to sleep. I don't believe it was ever intended to fund your retirement, to pay for your 2200 sq ft. home, to provide money for two cars, Summer vacation, wintering in FL. or AZ., or subsidizing medical care from retirement to the grave like the addition on Medicare in the '60's brought to the dance. SS was a scam from the start, and for too many, way too many is basically all the retirement they have.