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Nine hard but necessary steps to fix our broken Social Security system.
American Thinker ^ | 05/26/24

Posted on 05/26/2024 11:33:21 AM PDT by SeekAndFind

Social Security is a giant Ponzi scheme and, like all Ponzi schemes, it will eventually fail when the cohort paying in becomes smaller and poorer than the cohort receiving the money. It’s going to take a sea change to remedy the problem, which means re-thinking the government’s role. Here’s what could be done:

(1) The Constitution has the federal government’s job description, so we must defund any federal spending that is not within that description, and the projects, whatever they are, need to be kicked down to the state level where they either belong or taxpayer money shouldn’t be spent on them at all. As an aside, this wouldn’t affect only Social Security.

It includes banning all earmarks, making congresspeople liable to the same laws everybody else obeys, and ending both so-called “monster bills” and continuing resolutions.

(2) The federal government must balance the budget and pay its debts, including the worthless Treasure Notes that Social Security holds.

The above two steps sound like the end of Social Security, but they’re not. There’s still a way out to protect Americans, especially those who have paid into the system (money that they could have invested for their own benefit) and are now dependent on its returns.

(3) Social Security needs to create the world’s biggest index fund which sees it investing only in the stocks and bonds of profitable companies. Its planned investments, of course, would have to closely kept secrets, with Social Security insider trading resulting in serious prison sentences (including for congresspeople).

(4) In terms of the fund itself, the the criterion for whether it’s profitable needs to be specific, e.g., “profitable over “X” years or “X” years within as specific time window...perhaps ten years.

(Excerpt) Read more at americanthinker.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: ponzi; socialsecurity; ss
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To: SeekAndFind

Fix it by removing the bend points. I should not pay in twice as much and fear 15-20% than anther person.


41 posted on 05/26/2024 12:57:11 PM PDT by wgmalabama (Censored!)
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To: BuchananBrigadeTrumpFan; mass55th

Yes and that’s what
ObamaScare was
designed to do


42 posted on 05/26/2024 1:09:14 PM PDT by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: dragnet2; dfwgator

Yes


43 posted on 05/26/2024 1:10:24 PM PDT by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: BobL

(END THE EARNINGS CAP)

🔝🔝🔝


44 posted on 05/26/2024 1:12:13 PM PDT by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: SeekAndFind

QFS will correct the problem.


45 posted on 05/26/2024 1:19:10 PM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
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To: SeekAndFind

The GOP loves playing bean-counter and green-eyeshade accounting-scold for America’s profligate prog-marxist schemes.

Its been the GOPs main role in DC since at least the 1960s.


46 posted on 05/26/2024 1:21:02 PM PDT by PGR88
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To: mass55th

One way to start fixing it is to stop using it as a piggy bank fund for government schemes.


47 posted on 05/26/2024 1:22:43 PM PDT by Darksheare (Those who support liberal "Republicans" summarily support every action by same. )
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To: Thapsus_epiphany

Illegals working under bogus SS numbers will never see a dime of what they’re paying in. The Feds know this and are fine with being able to keep 30 something billion a year-off the books.


48 posted on 05/26/2024 1:32:03 PM PDT by orlop9
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To: Reno89519

Will Americans want to pay the price increases that will some with deporting illegals and raising wages for Americans? There was much outcry about the fast food minimum wage increase in California.


49 posted on 05/26/2024 1:42:51 PM PDT by Kathy in OC
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To: PeterPrinciple

I always thought the fix was in from the start with ponzi schemes.


50 posted on 05/26/2024 1:43:39 PM PDT by Theophilus (covfefe)
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To: Nextrush

“Raising taxes is not a solution because business pays half the tax as it stands now.”

The true economic incidence of the FICA payroll tax is entirely on workers since it is passed on in the form of lower wages.


51 posted on 05/26/2024 1:43:51 PM PDT by riverdawg
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To: Eccl 10:2

“Privatization is THE ONLY reasonable answer.”

George W. Bush proposed partial privitization in the early 2000s, with a plan similar to the current Federal retirement plan. It involved a “three-legged stool” comprised of (1) individually managed private 401-k contributions; (2) continued but drastically reduced Social Security contributions (and reduced future Social Security benefits); and (3) contributions to (and future benefits from) a Federal pension fund invested in a mix of Treasury bonds and equities. The third part was the most controversial, understandably. In any case, the proposal was DOA.


52 posted on 05/26/2024 1:55:38 PM PDT by riverdawg
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To: SeekAndFind

At some future time, the cap on taxable income for Social Security contributions will have to be either eliminated, as it is now for the 2.9% of earnings that go to Medicare, or increased substantially. At current FICA tax rates and maximum earnings base, there simply isn’t enough future FICA revenue to pay for promised benefits.


53 posted on 05/26/2024 2:01:43 PM PDT by riverdawg
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To: SeekAndFind

Stop handing it out to people who did not pay into it.


54 posted on 05/26/2024 2:09:03 PM PDT by metmom (He who testifies to these things says, “Surely I am coming soon.” Amen. Come, Lord Jesus…)
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To: Kathy in OC

A Day with Mexicans? I think they’ll celebrate.


55 posted on 05/26/2024 2:10:31 PM PDT by Reno89519 (Build the Wall, Deport Them All. No amnesty for anyone.)
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To: Eccl 10:2
All future money paid in goes in to the private account.

    What you wrote plus this:
  1. Make the social security contribution like the medicare tax with no exclusion limit for higher incomes.

56 posted on 05/26/2024 2:10:49 PM PDT by af_vet_1981 ( The bus came by and I got on, That's when it all began)
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To: SeekAndFind

Great suggestions, every one of them.

Sadly, what we lack is the backbone and vision among our elected officials to make it so.


57 posted on 05/26/2024 2:13:49 PM PDT by PubliusMM (RKBA; a matter of fact, not opinion. The Dhimmicraps are ALL Traitors. All of them.)
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To: SeekAndFind

No money for non-citizens who did not pay into the system.


58 posted on 05/26/2024 2:30:56 PM PDT by stockpirate (A group of baboons is referred to as a "Congress" of baboons.)
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To: SeekAndFind

I am totally opposed to #3


59 posted on 05/26/2024 2:41:12 PM PDT by Repeal The 17th (Get out of the matrix and get a real life.)
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To: cherry

You’ve topped me, only 44 for me.


60 posted on 05/26/2024 2:42:40 PM PDT by kawhill (kawhill)
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