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Thread: How to save Social Security?

  1. #1
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    How to save Social Security?

    How do we keep Social Security self-sustaining for years to come?

    #1. Increase eligible income to $200,000.

    #2. Increase eligibility age to 68, for folks who are today younger than 25.

    #3. Increase the Social Security tax by 1% in 3 years.

    any other suggestions?

  2. #2
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    #1 - Does that mean that those making over $200,000 don't have to contribute? Or are you just taking money from someone and giving it to another that did not earn it?
    #2 - Fine
    #3 - Raise Taxes? Same Liberal solution for every problem. Why in 3 years? Why not immediately?

    ... you left out #4 Privatize it.

    I will let them have ALL the money I have contributed thus far if they just let me privately invest from today forward never taking another dime from me. The return on my money through the Federal Government is pathetic.

    It is a PONZI SCHEME that would be illegal if any private entity tried to do it.

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    Quote Originally Posted by Crusher View Post
    #1 - Does that mean that those making over $200,000 don't have to contribute? Or are you just taking money from someone and giving it to another that did not earn it?
    #2 - Fine
    #3 - Raise Taxes? Same Liberal solution for every problem. Why in 3 years? Why not immediately?

    [B]... you left out #4 Privatize it....
    everyone who contributes to SS...collects SS.

    The amount you collect from SS depends on how much you put into it. So those who put more into it, will collect more from it.

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    Raise the eligibility age to whatever the average life expectancy is. Make it truer to its name: "old age insurance."

    Quote Originally Posted by Crusher View Post
    ... you left out #4 Privatize it.
    Privatize what, exactly?

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    Quote Originally Posted by Neomalthusian View Post
    Raise the eligibility age to whatever the average life expectancy is. Make it truer to its name: "old age insurance."



    Privatize what, exactly?
    Look up the retirement plans of:

    • Galveston, TX (Used a loophole to get out off SS)
    • Chile
    • Poland



    ... and then tell us the returns for the people in their private plans versus our SS. Then tell us all which return you would prefer.

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    Quote Originally Posted by Oscar99 View Post
    everyone who contributes to SS...collects SS.

    The amount you collect from SS depends on how much you put into it. So those who put more into it, will collect more from it.
    You believe that the baby boomers and previous generations received far far far far more than they ever put in or the same amount? Hint: They didn't it's the former choice.

    Where do you think that HUNDREDS OF BILLIONS in SS deficit comes from? (See Ponzi Scheme)

    You are welcome for this education on our current system.

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    Lift or remove the cap at which the tax is collected.

    DO NOT raise the retirement age. It's unfair to lower income people.

    No means testing.

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    Quote Originally Posted by Babba View Post
    Lift or remove the cap at which the tax is collected.

    DO NOT raise the retirement age. It's unfair to lower income people.

    No means testing.
    Interesting.

    I figured you would be all for "means testing."

    Now I certainly do not like it, but...it may be neccessary, albeit, patently unfair.

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    Quote Originally Posted by Oscar99 View Post
    How do we keep Social Security self-sustaining for years to come?

    #1. Increase eligible income to $200,000.

    #2. Increase eligibility age to 68, for folks who are today younger than 25.

    #3. Increase the Social Security tax by 1% in 3 years.

    any other suggestions?
    It may be a tad bit late, but, one of the GOOD ideas from Al Gore was to put Social Security away into a "Lockbox" where Congress can not embezzle it for other expenditures.

    The MAIN reason we are facing a tough time with Social Security, is the Baby Boomers. They are a big BUMP in the population curve, which means fewer people will have to support a larger group in retirement. That is simply an obastacle, we, as a society, must overcome, although, in a generation, this will start to alleviate.

    The fact that Congressional elites have pilfered Social Security going on four decades, at least, now, only exacerbates the situation (By the way...IF a Private Investment Firm did the EXACT SAME THING...CEO's would be in prison...)

    As for your ideas, they are tough pills, but, may be neccessary.

    I would only wish to scratch #2. Perhaps, make a system in which those who are healthy, can recieve a "partial" SS payments from age 64 through 68. But, this will not matter quite as much, as those who are 25 and younger, will not be in the same situation we face when they face retirement. (Unless our birth rates suddenly drop.)

    I would add "Means-Testing," although it is patently unfair. Perhaps, means test for a smaller payment to those who do retire in wealth.

    Unfortunately, almost every option is a TOUGH option, so, I have no expectations from the Aristocrats to do any of them. Better to simply ignore it, and, let future Congresses take care of the problem....

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    Quote Originally Posted by Babba View Post
    Lift or remove the cap at which the tax is collected.

    DO NOT raise the retirement age. It's unfair to lower income people.

    No means testing.
    Agree on all but I might consider means testing as long as the amount is high, say a million dollars a year and it is checked every year so if they somehow lose their money they then qualify.

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