Social Security's Running Out of Time

Allowing people to put part of their Social Security tax in the stock market is a good deal for young workers who probably get anything otherwise. For workers in their 50's and 60's and for those who are already retired it's really a bad deal. I'm working now. My social security taxes do not go into an account for me. They pay for those who are currently retired. When I retire, I would expect that it would work the same way. Those who are working then would pay my social security.

If you allow them to invest the money instead and put it in an account of their own who loses? I do and all other people who are retired. My retirement social security is either reduced or the system goes bankrupt sooner. This idea was a cruel trick that Bush tried to play on those who are close to retirement.

 

That's the problem. The system is not solvent and never will be so long as we continue the bad practice that has already started.

However, if you were given a lump sum payment and allowed to invest it in an annuity, you would be better off.

It would have been far and away the best thing he could have done for you. It's not the governments job to support retirees. It was a bad idea from the beginning and has never gotten better.

Buy people out of SS now, and the problem is solved.

 

I have long argued for letting people opt out of SS. They would still pay FICA/SECA, but would receive a tax credit in return. Thus, the funds would still come in without having to pay people benefits. Then that money would be long term solvency for SS. Or saving the tax credit, they could pay a flat tax for SS/Medicare (substantially below the current rates) without income limitation. Say, 1 or 2%. Something like that.

 

>And these same folks are complaining we need to let illegals come in and work because we don't have enough americans to do all the jobs!

You all want your kids to pick apples for a living? If not, exactly who should pick apples?

 

I want my kids to seek God and do whatever He leads them to do and then do it to the glory of God. All jobs need to be done by someone in a society. In God's eyes the apple picker is just as important as the President.

God Bless! :thumbs: