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Social Security News - miko33 - 07-14-2017 04:40 PM Saw this article today. Surprised no one mentioned it... Actually, no I'm not. This was a HORRID system devised by the gov't. It would have been in much better shape if they even would have ran it like a so so pension plan. Unfortunately, they chose to see it as another income stream to spend on other programs. You guys talking about treason, betrayal and impeachable offenses...yeah - right here. https://www.forbes.com/sites/baldwin/2017/07/13/news-from-the-social-security-ponzi-scheme/#a7495de35a1f Quote:The government is out today with its annual update of Social Security’s sick finances: Quote:Here’s a list of possible bad outcomes: RE: Social Security News - stinkfist - 07-14-2017 04:49 PM don't get me started.... who owns that debt? start there.... what is that debt.... A: USD what happens when the boomers die? .....that should be enough...... RE: Social Security News - Lord Stanley - 07-14-2017 04:51 PM Social Security and retirement concerns are now part of my career conversations at 40. While I have strong personal retirement investments and my wife has both a strong teacher pension plus retirement investments, my fear of having enough money in retirement recently contributed to stopping me from pursuing a job with Boeing. We simply couldn't replicate my wife's retirement plan in MO compared to her salary, tenure and retirement here in MN. (No matter though it wasn't the worst thing that I didn't take the job.) RE: Social Security News - stinkfist - 07-14-2017 04:56 PM (07-14-2017 04:51 PM)Lord Stanley Wrote: Social Security and retirement concerns are now part of my career conversations at 40. While I have strong personal retirement investments and my wife has both a strong teacher pension plus retirement investments, my fear of having enough money in retirement recently contributed to stopping me from pursuing a job with Boeing. We simply couldn't replicate my wife's retirement plan in MO compared to her salary, tenure and retirement here in MN. you should be scared.....and like a roach when the light comes on..... been trying to point these things out for a couple o' years now..... nobody should be surprised..... this is a simple numbers game.... RE: Social Security News - LeFlâneur - 07-14-2017 05:03 PM (07-14-2017 04:49 PM)stinkfist Wrote: what happens when the boomers die? Well for one thing, they'll stop collecting SSI and Medicare. RE: Social Security News - stinkfist - 07-14-2017 05:03 PM (07-14-2017 05:03 PM)LeFlâneur Wrote:(07-14-2017 04:49 PM)stinkfist Wrote: what happens when the boomers die? and then what happens to the care providers? c'mon man....you're a harvard biz guy......I'm just a simpleton from the 'sip..... RE: Social Security News - LeFlâneur - 07-14-2017 05:07 PM (07-14-2017 05:03 PM)stinkfist Wrote:(07-14-2017 05:03 PM)LeFlâneur Wrote:(07-14-2017 04:49 PM)stinkfist Wrote: what happens when the boomers die? I was just being sarcastic. RE: Social Security News - stinkfist - 07-14-2017 05:10 PM I'm going to skip a shiteload of steps in the equation.... look around you today.....we saw this 30 years ago.. as cali goes, so goes the nation.... well, as we once pined, as the 'sip goes, so goes everyone else..... look at your roads....look at your bridges....look at your homes with or w/o mortgages.... look at what is supposed to fix that..... what, are you people just blind or on drugs.... I continue to pound this like owl pounds bismark.....if the USD teeters, it's fk'n over.... you better vote and pray that doesn't happen.....you'll have to learn things that are outside your scope of ability......that's a gimme putt..... RE: Social Security News - stinkfist - 07-14-2017 05:11 PM (07-14-2017 05:07 PM)LeFlâneur Wrote:(07-14-2017 05:03 PM)stinkfist Wrote:(07-14-2017 05:03 PM)LeFlâneur Wrote:(07-14-2017 04:49 PM)stinkfist Wrote: what happens when the boomers die? kudos and to that! hint: sometimes I need one RE: Social Security News - dfarr - 07-14-2017 05:13 PM I wish I could have my 6.2% to invest in my own. Instead I'm using it to pay for a bunch of moochers. RE: Social Security News - stinkfist - 07-14-2017 05:16 PM (07-14-2017 05:13 PM)dfarr Wrote: I wish I could have my 6.2% to invest in my own. Instead I'm using it to pay for a bunch of moochers. yes and no.... they're robbing you to pay for ALL subsidies.... and the boomers are simply living too long by design....., it's a catch-22.....one is a DA if they haven't figured that out by now..... it's going to be a miracle if the USD is worth pennies in 30 years..... I hope I'm wrong.... RE: Social Security News - LeFlâneur - 07-14-2017 05:18 PM My biggest concern, well not for me but for my children and grandchildren, is the unfunded liabilities in the public sector pension plans and retirement benefits. Promises have been made but funding has not followed. The calculations are still using a ridiculous 7.5% to 8% return, when the risk free return is about 2.5%. And that is on current balances. I've seen an analysis that the total liabilities for the federal, state and municipal* governments in the US, may be as high as $60 trillion. (*The municipal government part is due to "promises" of life long medical care, which is usually in the Cadillac plan range. All the municipal/teacher retirement plans I'm aware of are administered by the states.) There is one word to describe this: unsustainable. Soon we'll likely see the fallout when Illinois defaults. No doubt the public sector unions expect a bail-out. RE: Social Security News - stinkfist - 07-14-2017 05:25 PM (07-14-2017 05:18 PM)LeFlâneur Wrote: My biggest concern, well not for me but for my children and grandchildren, is the unfunded liabilities in the public sector pension plans and retirement benefits. #keyword there's no fixing it unless cold hard (hearted) decisions are made in this capitalistic realm so many believe upon..... RE: Social Security News - LeFlâneur - 07-14-2017 05:27 PM (07-14-2017 05:25 PM)stinkfist Wrote:(07-14-2017 05:18 PM)LeFlâneur Wrote: My biggest concern, well not for me but for my children and grandchildren, is the unfunded liabilities in the public sector pension plans and retirement benefits. People who need to depend on voters returning them to their positions in Washington and the state capitals, tend not to be capitalist. RE: Social Security News - stinkfist - 07-14-2017 05:33 PM (07-14-2017 05:27 PM)LeFlâneur Wrote:(07-14-2017 05:25 PM)stinkfist Wrote:(07-14-2017 05:18 PM)LeFlâneur Wrote: My biggest concern, well not for me but for my children and grandchildren, is the unfunded liabilities in the public sector pension plans and retirement benefits. they always hold all hands with a smile....that's our system today.....that's any system developed to date when POWER as the goal of NARCISSISM....capitalism is a mere misnomer of control.....and it's failing by the month.....tulips on the horizon....once the divide becomes overwhelming, it's game over pal.... ref: egypt ref: greeks ref: jewish ref: brits ref: today RE: Social Security News - Claw - 07-14-2017 05:36 PM Don't assume you'll keep your 401K. They will be coming after it. RE: Social Security News - stinkfist - 07-14-2017 05:38 PM (07-14-2017 05:36 PM)Claw Wrote: Don't assume you'll keep your 401K. I DIDN'T! trust me on that one.....there's other ways.... RE: Social Security News - EigenEagle - 07-14-2017 05:50 PM One tax I idea I will agree with Democrats on...people should be paying SS on all income. That probably won't fix the problem but it might cushion the crash landing a bit. RE: Social Security News - Attackcoog - 07-14-2017 06:07 PM First---let me just say, Im not "one of those guys", but I do think the answer to all or at least some of the problem is easy. Legalize weed and tax it. All of the revenue goes to the Social Security System. There's basically not a better pain free option out there. I also agree wit paying SS on all income. I'd be with the rate falling to a lower level after the current top out point---but I think SS should be collected on all of the income. Those two changes alone probably put a huge dent in the SS underfunding issue. I'd also be fine with adding a penny to the national gasoline tax. RE: Social Security News - Kaplony - 07-14-2017 06:34 PM (07-14-2017 04:40 PM)miko33 Wrote: Saw this article today. Surprised no one mentioned it... Actually, no I'm not. This was a HORRID system devised by the gov't. It would have been in much better shape if they even would have ran it like a so so pension plan. Unfortunately, they chose to see it as another income stream to spend on other programs. No surprise really. Eventually all ponzi schemes fall apart |