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I Don't Want Social Security Unchanged for Current and Those Near Retirement Age


Fergasun

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There, I said it. I'm a younger worker. Even the most radical of GOP members will tout that "we only want to change social security for younger workers". No, no, no, no, no! If you are going to admit that it's a ponzi scheme (which last time I checked, ponzi scheme are illegal, right Mr. Madoff?) why protect those who got into the ponzi?

Why do people think that younger workers want to support the social security benefits for current recipients and those nearing retirement? I don't want to.

The stance that it should be protected is like this: "we know it is a ponzi scheme, but those who got into the ponzi earliest (through birth) are going to be protected."

That's bs. The fact that social security has never been adjusted from its original program, and is now seen as a "retirement pig" that folks can live off of 20 years is a political failure of the greatest magnitudes. But I don't see why I have to pay for it.

Those who have been collecting into the ponzi got to win; but it's time to shut this ponzi scheme down. While I know it is not fair to those who actually *need* social security (and everyone is going to say they need it), I think its more unfair to folks like me who are being taxed to support a growing group of the non-working; and it should have been adjusted year, and years ago (like when Reagan and Tip O'Neil made adjustments).

Do I mind paying a social security tax to support those who are truly disabled? No. But I think the original life-expectancy/payout-expectancy timelines (what, it was 5 years of social security) make for a much better insurance program.

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so what changes do you propose?

raising age?

Means testing?

restricting it to those that have paid in long term?(does my paying into it for over 50 yrs time I qualify entitle me to more than the short termers?)

reducing benefits?

details man,not just whining :silly:

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Ponzi or Pyramid scheme?

Both parties should be honest about this, grab the proverbial bucket of cold water to douse on and wake up the sleeping masses to face the reality of social security and other entitlements that were promised but most probably will not see in its current form if at all.

It was a scam from the start which ironically backfired from the start. The premise was so many young tax paying workers per retiring citizens, which today is dwindling down to 2 per retiree.

The money was available to those who lived a year past that times life expectancy, to make their final days comfortable. The first recipient, a nice old lady lived long past 64.

Those already eligible and receiving social security have nothing to worry about, which why anyone trying to scare the elderly receiving it is shameful but nothing new. Now the recipients probably will not see a significant rise in COLA (none since Obama has been in the white house) but thats a different story.

People my age and younger should be preparing to retire with little to no social security funding, which is what you should do anyway, IMO.

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What percentage of social security claims are paid out to non-elderly? Seems like I keep hearing about so-and-so who has really bad migraines and is applying for social secuirty because they can't work. That's the kind of bull**** that I think needs to be addressed.

I do know that there are phonebooks filled with lawyers who make their careers out of social security claims. Seems to me that a few common sense rules would go a long way. 1- you get out what you put in, except in cases of hardship. (millionaires drawing more than they ever put in to spend on their vacations, etc.) and 2- separate social safety net for disability claims, etc. Make social security just for the elderly.

Overall I think social security is a good institution. These "leave it to the individual" people who have infested politics are extremely naive about how financially ignorant most of our population is. Ironically these are usually the same people lobbying for further cuts in education and proposing even more home-schooling.

---------- Post added September-12th-2011 at 02:42 PM ----------

By the way, if we're prepared to call Social Security a "ponzi scheme", I think we should re-label the following as ponzi schemes:

1. The military. They generate no revenue on their own. Soldiers are paid based on arbitrary amounts of tax inflows. How is this different from social security?

2. Every government program, ever.

3. Churches. All of them.

Can anyone list more? Have fun, be creative.

---------- Post added September-12th-2011 at 02:53 PM ----------

Fergasun, when you're thirsty, do you say to your wife "honey, would you mind getting me a beer?"

Or do you say "honey, don't get me no beer from the fridge."

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my plan is a phase out.

Let workers under 35 opt out (or let anyone opt out) if they opt out, every year you will pay less and less to SS. For example this year 6%...next year 5.9%, year after 5.8%.....or something like that. I'd like to get to my prime earning years around 45-55 without paying anything into SS. .

Then when I hit 62 or 65 - I won't ask for SS. Do that for a generation or two and phase it out completly.

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Social security is not a ponzi scheme. It's a single premium immediate annuity (with inflation adjustment) that you are forced by the government to buy.

This is largely because some people are unlucky, some people are unskilled, and some people are idiots, and we don't want to see the elderly eating dog food, and the system doesn't work as well with partial participation.

For the record, though, the payout rates are extremely competitive with any policy you could buy privately, at least for what most people pay in.

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I want it changed for everyone

Including my own 60 year old mom, my 66 year old pop, and my 39 year old younger sister

Those ages are outdated, you raise the average age of life I think you adjust when you can retire.

But what I want don't mean jack **** when you realize that the minute one of those politicans changes it they are going to get booted from office

It's like voting yourself to get fired...who does that?

So nothings going to happen and won't until these ****es bankrupt the country which will leave those ******* no other choice but to make a change

And its going to get so bad that voters will agree to it, but not before

The only thing for certain I believe is the medias going to make it seem like all hells about to break loose before a damn things changed

Because the medias nothing but in the pocket of the *******s in charge

And they will screw each and everyone of us not lucky enough to be in on the scam

So give it up, not worth fighting or even thinking about

Not until more then a few people are ready to overthrow this whole damn thing and set it on fire

That's about the only chance we have today to not be totally ****ed within 20 years

Thank god for the myans maybe that's the way this all gets fixed sooner

Aint no way the politicans you elected got the balls or smarts to do a damn thing at this point

Anyone still buying into the business of a 2 party system that controls everything needs to smarten up

The S&P were grading those home loans and banks that bankrupted the country and tanked the economy

The S&P then downgrades Americas rating which crashes the economuy and blames the "political unrest" as the cause

In essance blaming the Tea Party for even existing

Making the Tea Party irrelevant in the 2012 elections so that the puppetmasters controlling the S&P remain in control

And some of you still buy the crap they are selling?

Seriously I can't wait until the day comes when we get back to the days of George Washington when it was expected to disagree with the people in power

And burn it to the ground if its all a bunch of rich ****ers stealing our money

Wake up, that's what this is now

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Social security is not a ponzi scheme. It's a single premium immediate annuity (with inflation adjustment) that you are forced by the government to buy.

This is largely because some people are unlucky, some people are unskilled, and some people are idiots, and we don't want to see the elderly eating dog food, and the system doesn't work as well with partial participation.

For the record, though, the payout rates are extremely competitive with any policy you could buy privately, at least for what most people pay in.

nonsense. Everyone is capable and smart and afforded plenty of opportunities, they're just lazy. Ask any white male libertarian.

we need more personal accountability. Dog food for the less fortunate, I say.

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By the way, if we're prepared to call Social Security a "ponzi scheme", I think we should re-label the following as ponzi schemes:

1. The military. They generate no revenue on their own. Soldiers are paid based on arbitrary amounts of tax inflows. How is this different from social security?

2. Every government program, ever.

3. Churches. All of them.

Can anyone list more? Have fun, be creative.

Insurance!

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Here's the solution. Adopt the policy in the 70's movie "Logan's Run". Everyone had to die at 30. Obviously, you would raise that say 66. People retire at 65 and get to spend one final year of life in retirement. Then you have a nice big goodbye party on their 66th birthday.

Pure madness but it wouldn't shock me to see fiction become reality one day.

---------- Post added September-12th-2011 at 11:55 PM ----------

Bush's mistake in 2005 is that he should've made his plan an option on top of the 7.6% going to social security. Once you have a new system running for a while; people would be more willing to reform social security so that changes can be made.

You have 2 generations of people who have grown up expecting it and you aren't going to change their minds on it. Those older folks and boomers that are now retiring will have none of it and any politician that suggests radical change will not win elections and will get voted out.

So Perry can keep on pushing the Ponzi theme and how he would end that. That may well get him the Republican nomination but come fall, all it will get him a ride back to Texas.

Young people may not like that; but they are more older folks and older folks who vote.

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I'm fine with the concept of SS. Its the price you pay to live in a society that values old people not being homeless. I for one, don't want the streets of my town filled with destitute elderly folks. Since we can't rely on everyone to have retirement money put away, this is what we do.

And its not your money. Its our money to guard against you being an old vagrant. You don't get to chose what to do with it becuase if you lose it, we are left holding the bag.

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You can't allow an opt out or it wouldn't function at all, just in the same way you couldn't have national healthcare unless everyone was paying into it.

Being able to opt out of #SS with the promise of "oh wow I can make so much more money on my own" is merely a carrot being dangled in front of people. Everyone knows a large percentage of people would mis-manage the money, or maybe invest it in stocks that go south, and then they would really be screwed come retirement and need some type of government assistance anyway.

No one is stopping any individual right now from creating their own separate retirement fund outside of Social Security. The idea that you need to stop social security in order to put money into a retirement fund is a bunch of bunk. Just the same as "health saving accounts" that anyone with half a brain knows would be routinely wiped clean to a $0.00 balance for the majority of people anytime routine medical care is needed.

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