Entitlement Programs

i like zesty. His/her habit of arguing vociferously about inconsequential details of larger issues is entertaining for some reason.
 
They’re probably going to have to come up with some sort of income test or asset test to see how much of a payment you will get. Those that are well prepared and have saved probably won’t get anything. It’s not fair but sacrifices will need to be made.
 
@jbald, I know; I should have went to law school. I think that pretty much sums up the legal profession.
@Stocks, yeah I think it’s crazy how you can be a Millionaire and still receive social security checks!
 
Stocks & Blondes Wrote:
——————————————————-
> They’re probably going to have to come up with
> some sort of income test or asset test to see how
> much of a payment you will get. Those that are
> well prepared and have saved probably won’t get
> anything. It’s not fair but sacrifices will need
> to be made.
I have assumed pretty much from the day I started my career that SS would not exist when it came time for me to retire, so feel free to divvy up my contributions. SS is a decent part of my parents’ current income, so I’m okay without collecting myself.
 
They asked a similar question last night during the debate. If you could have $10 of spending cuts for every $1 of tax hikes, would you do it? Everyone, even Ron Paul, raised their hand.
I think so long as we’re not just throwing money at the problems, but actually introducing massive, long-term structural change, most people would be fine with generating some more revenue in the short term.
 
Stocks & Blondes Wrote:
——————————————————-
Those that are
> well prepared and have saved probably won’t get
> anything. It’s not fair but sacrifices will need
> to be made.
I agree that is the direction we are headed, but it is wrong and totally unfair to those who are successful. If the government forces me to pay 6.5% of my gross earnings (subject to the $106,### annual cap) then I deserve to get that money back in Social Security. No question as to whether I have 100k in the bank or 10 million.
If I had the option today, I wish there was a way to opt out of social security. Give me what would be deducted and I’ll invest it myself. But the government will likely never allow such a thing.
 
They couldnt do this because what if you invested it all with the Bernie Madoffs of the world and you ended up with nothing. Social Security is there so that you aren’t living on the street when you’re unable to work. Too many people would opt out and just blow the money
 
rothwise Wrote:
——————————————————-
> They couldnt do this because what if you invested
> it all with the Bernie Madoffs of the world and
> you ended up with nothing. Social Security is
> there so that you aren’t living on the street when
> you’re unable to work. Too many people would opt
> out and just blow the money
It’s not the government’s job to ensure people invest their money wisely. If you, as an individual, decide to take a chance on a risky investment and lose, then you’ll have to live with it, even if that means on the streets. Or you can beg your kids to take you in later on in life if you’re in such bad shape. This crap about having to protect everyone from everything is getting old.
 
You would end up with more people on welfare at retirement. What was the savings rate 5 years ago? Negative. True that it isnt the governement’s job to protect everyone, but social security was developed as a safety net. Like it or not
 
ManMythLegend Wrote:
——————————————————-
> It’s not the government’s job to ensure people
> invest their money wisely. If you, as an
> individual, decide to take a chance on a risky
> investment and lose, then you’ll have to live with
> it, even if that means on the streets. Or you can
> beg your kids to take you in later on in life if
> you’re in such bad shape. This crap about having
> to protect everyone from everything is getting
> old.
PREACH!
 
rothwise Wrote:
——————————————————-
> They couldnt do this because what if you invested
> it all with the Bernie Madoffs of the world and
> you ended up with nothing. Social Security is
> there so that you aren’t living on the street when
> you’re unable to work. Too many people would opt
> out and just blow the money
What’s the chance you’ll receive nothing from SS now? People would be better off throwing darts.
 
You must log in or register to reply here.
Back
Top