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Younger generations now must pay for older generation's cowardness

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Younger generations now must pay for older generation's cowardness

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Old 06-15-2018, 05:58 AM
  #71  
Nontypical Buck
 
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Originally Posted by Fieldmouse View Post
my bad, but you still don't understand SS. It's not invested in anything. Its 100% spent by government. On top of that, the overwhelming majority is now guaranteed a large negative return and it's only set to get worse. Three solutions, cut benefits, rage retirement age (means cut benefits) or raise taxes. All three increase that negative return and in 2034 by law, 34% reduction in payments. Anyone who says an individual cant do better, does not know the system. Now as for you pension. It's so heavily regulated by the federal government, it's designed to never meet its investment returns. As i pointed out, the feds require it to be spread around so much, they're forced into bad investments. Then we can talk about Obama stealing GM from the pension investors just to pay off the UAW. That still brings a chuckle everytime.

$1000 invested every year alive in a good mutual fund, there are plenty out there with returns north of 10% over their lifetime, will make you a multi millionaire at age 65.
The money not paid out as benefits is loaned to the treasury. The SSI added $35.2 billion to the trust in 2016. Not bad for simply skimming a little off of the top.
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Old 06-15-2018, 06:27 AM
  #72  
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Originally Posted by Mickey Finn View Post
The money not paid out as benefits is loaned to the treasury. The SSI added $35.2 billion to the trust in 2016. Not bad for simply skimming a little off of the top.
amazing

fyi, its spent. Why is it spent? Because according to the Supreme Court its general revenue and not to be ear marked in any way. So to say its loaned to the treasury is just promoting one of the lies the entire program is based on. Need proof? This year, those IOUs are going to be cashed in. What are those IOUs going to be replaced with? IOUs because the government is broke and has to borrow the money.

so as I pointed out, the dumbest of dumbest can do better than the government with their own money
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Old 06-15-2018, 06:40 AM
  #73  
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Fieldmouse, please read this; https://www.cbpp.org/research/social...ty-trust-funds.
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Old 06-15-2018, 08:59 AM
  #74  
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Originally Posted by Coastal Mountaineer View Post
CM, out dated propaganda.

you need to first research to Supreme Court cases. The first one was in the late 30s, Helvering v Davis. The Supreme Court ruled, SS tax was nothing more than general revenue and not to be ear marked in any way. This was after a challenge on whether the federal government has the power to force an individual to buy insurance. The administration (very similar to obamacare) argued it wasn't forcing anyone to buy insurance (though that's how they sold it to America with a boat load of other lies) but exercising it's right to levy taxes.
the second court case you need to research was in 1960 I believe and I think it was called Fleming v Nestor. The Supreme Court ruled in this case, you have no contractual rights to SS because if you have, it would rob Congress the flexibility to change your benefits. In other words, congress has the power to completely cut you off.

Both judgements still stand today. That is the official position of the federal government no matter what lies the SS or another organization puts out to deceive people.

Furthermore to show how our of date your article was, SSDI already went broke. It didn't have the money to cover its obligations. What did Congress do? Did it fix the program by reforming the benefits and qualifications? No it dipped into regular SS and transferred hundreds of billions into SSDI. This is one reason I don't trust the prediction of when SS is going belly up because they never shortened the insolvency date. So they just kicked the can down the road until it all crashes.

now to think, he we'll just raise taxes. That won't work because as you're witnessing between Obama and Trump, raising taxes lowers economic activity and lowering taxes raises economic activity. The rate at which taxes would need to be raised would crush us completely. So you say raise the age. Well already everyone paying SS is pretty much guaranteed a negative return on their money. Raising the age only increases that loss. If you think for a minute the younger generation is going to sit by and watch more of their earnings get taken just to pay for someone who won the lottery of old age because they 65 and also allow them to keep their wealth in order to pass it on to their children, think again. Very large Bill's are coming due and SS is a founding error compared to Medicare and Medicaid. Those programs are well over 100 trillion in the hole. Some put them over 200 trillion. With today's debt and budget deficits, do you believe they can go one forever? Do you believe America can escape the same fate of other nations in the past that crashed? If you do, then you probably die believe the link you posted. Good luck with that one.

Last edited by Fieldmouse; 06-15-2018 at 09:18 AM.
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Old 06-15-2018, 10:27 AM
  #75  
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Originally Posted by Fieldmouse View Post
CM, out dated propaganda.

you need to first research to Supreme Court cases. The first one was in the late 30s, Helvering v Davis. The Supreme Court ruled, SS tax was nothing more than general revenue and not to be ear marked in any way. This was after a challenge on whether the federal government has the power to force an individual to buy insurance. The administration (very similar to obamacare) argued it wasn't forcing anyone to buy insurance (though that's how they sold it to America with a boat load of other lies) but exercising it's right to levy taxes.
the second court case you need to research was in 1960 I believe and I think it was called Fleming v Nestor. The Supreme Court ruled in this case, you have no contractual rights to SS because if you have, it would rob Congress the flexibility to change your benefits. In other words, congress has the power to completely cut you off.

Both judgements still stand today. That is the official position of the federal government no matter what lies the SS or another organization puts out to deceive people.

Furthermore to show how our of date your article was, SSDI already went broke. It didn't have the money to cover its obligations. What did Congress do? Did it fix the program by reforming the benefits and qualifications? No it dipped into regular SS and transferred hundreds of billions into SSDI. This is one reason I don't trust the prediction of when SS is going belly up because they never shortened the insolvency date. So they just kicked the can down the road until it all crashes.

now to think, he we'll just raise taxes. That won't work because as you're witnessing between Obama and Trump, raising taxes lowers economic activity and lowering taxes raises economic activity. The rate at which taxes would need to be raised would crush us completely. So you say raise the age. Well already everyone paying SS is pretty much guaranteed a negative return on their money. Raising the age only increases that loss. If you think for a minute the younger generation is going to sit by and watch more of their earnings get taken just to pay for someone who won the lottery of old age because they 65 and also allow them to keep their wealth in order to pass it on to their children, think again. Very large Bill's are coming due and SS is a founding error compared to Medicare and Medicaid. Those programs are well over 100 trillion in the hole. Some put them over 200 trillion. With today's debt and budget deficits, do you believe they can go one forever? Do you believe America can escape the same fate of other nations in the past that crashed? If you do, then you probably die believe the link you posted. Good luck with that one.
UPDATED
September 21, 2017
http://www.cbpp.org/research/social-...ty-trust-funds

You really can't get any more current than this. Sorry Fieldmouse......
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Old 06-15-2018, 11:15 AM
  #76  
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Originally Posted by Mickey Finn View Post
UPDATED
September 21, 2017
http://www.cbpp.org/research/social-...ty-trust-funds

You really can't get any more current than this. Sorry Fieldmouse......
Out dated stay up to date with current events. Did they or did they not take hundreds of billions from SS and transfer them to SSDI?
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Old 06-19-2018, 07:45 AM
  #77  
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One has to ask, why would a website mislead so many regarding the health of SS and SSDI? Why didn't they mention the program went broke and they were forced to take hundreds of billions from SS? It's an important detail when you're trying to report on the stability of the programs
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