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Posted: 5/11/2024 9:20:59 AM EDT
[#1]
Quote HistoryOriginally Posted By rainmaker9: Boomers are gonna vote to sieze the 401k of younger generations next so it can be funneled into to SSA. Because Nana doesn't have enough wealth from that house she bought at $22k that's now valued at $3M. She needs it to buy more beanie boos and China dishware for her grandkids You add so much to this thread. Only hate and no wisdom. |
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Posted: 5/11/2024 9:21:50 AM EDT
[Last Edit: Bucket-Back]
[#2]
Quote HistoryOriginally Posted By stoner63a: Redistribution of Wealth. Majority of SSI collectors never paid a dime into it. Part of the reason why the fund is going broke. Dems just couldnt resist keeping their hands out of that cookie jar, the only thing demmunists love more than buying votes is buying votes with conservatives' own money. Back to the Food Pantry stuff across from Court and County Jail, A lot of folks here where you could film a " Deliverance" see squeal have maybe only worked a few months out of their lives, mostly working cutting wood, babysitting and working for cash. When we pay the neighbor her $50 for helping clean, she has a lot of traffic next door and don't see her for a while. No teeth, acne, and usually sick from the mold in the trailer She won't work "On The Books". I used to drive the truck @ LOVE INC , I dropped free stuff off to her. I was gonna be a Knight of Columbus, so I cut and split wood, drove it over to St Barts, where I am still an Usher but don't go. Then we delivered it next door. Then I pushed 18" oak logs over that needed splitting, she didn't have a wheelbarrow. Well I put the logs in my wheelbarrow. I don't have a axe, she said, as I held it to the light. So I put a sledge, wedge, maul and a axe in the wheelbarrow 79' from her woodstove. They sat until the next rain a week later. The oak logs are still there 8 years later..... |
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Posted: 5/11/2024 9:25:21 AM EDT
[#3]
Quote HistoryOriginally Posted By rainmaker9: Boomers are gonna vote to sieze the 401k of younger generations next so it can be funneled into to SSA. Because Nana doesn't have enough wealth from that house she bought at $22k that's now valued at $3M. She needs it to buy more beanie boos and China dishware for her grandkids worthless mills and zekes don't got no 401ks, big shooter. |
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Posted: 5/11/2024 9:25:41 AM EDT
[#4]
Quote HistoryOriginally Posted By Notcalifornialegal: *pulls up a chair* Go on. Quote HistoryOriginally Posted By Notcalifornialegal: Originally Posted By lokifox: I love that the three or four actual tards in congress support this. They face a little bit of a battle. However, they already created a de-facto death tax on Roths so I wouldn't put it past them to mess with RMDs and a hybrid tax on tax-deferred earnings and income (a flat tax on the earnings on top of your owed income tax). *pulls up a chair* Go on. Complicated but cliff notes are you have to drain an inherited Roth within 10 years of the original owner's death. Doesn't mean you necessarily owe taxes on it, just that you have to do something with it and you can't stick unearned income back into a Roth, nor can you use it as a tax-free investment vessel for your entire life. https://www.morningstar.com/retirement/faqs-about-inherited-iras |
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Posted: 5/11/2024 9:32:46 AM EDT
[#5]
Originally Posted By manderson1911: Just get rid of the SSDI part... it's worthelss anyways. Originally Posted By Paul_Sothern: I read the latest figure is a reduction to 77% due to early retirements (due to Covid and the vaccine mandates). Mark my words -there will be no reduction. They will increase the retirement age a bit and increase the earnings subject to the SS tax. Or they will print money so inflation will solve the problem.  |
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Posted: 5/11/2024 9:35:54 AM EDT
[#6]
Let the lesser generations pay for us boomer's extravagant life styles.
or if we use it all then so be it. |
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Posted: 5/11/2024 9:36:58 AM EDT
[#7]
Quote HistoryOriginally Posted By lokifox: Complicated but cliff notes are you have to drain an inherited Roth within 10 years of the original owner's death. Doesn't mean you necessarily owe taxes on it, just that you have to do something with it and you can't stick unearned income back into a Roth, nor can you use it as a tax-free investment vessel for your entire life. https://www.morningstar.com/retirement/faqs-about-inherited-iras Ah gotcha that's where you were going. I would quite call it a death tax, but I can understand a bit.
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Posted: 5/11/2024 9:37:28 AM EDT
[Last Edit: Notcalifornialegal]
[#8]
Quote HistoryOriginally Posted By exponentialpi: SSDI isn't the problem. It is funded for 75 years in the projections. Boomers will loot it to make sure they get theirs. Or the QALY shows up because Medicare detonates first. And then the screeching will be epic. I hadn't considered the DI funds. That's a strong possibility. What are the reserves in DI vs Standard? |
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Posted: 5/11/2024 9:38:22 AM EDT
[#9]
Quote HistoryOriginally Posted By exponentialpi: SSDI isn't the problem. It is funded for 75 years in the projections. Boomers will loot it to make sure they get theirs. Or the QALY shows up because Medicare detonates first. And then the screeching will be epic. Better start investing in the popcorn industry now. 
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Posted: 5/11/2024 9:38:46 AM EDT
[#10]
Quote HistoryOriginally Posted By 1Bigdog: Let the lesser generations pay for us boomer's extravagant life styles. or if we use it all then so be it. Yep. I'm heading out now to buy my wife some more diamond rings. |
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Posted: 5/11/2024 9:41:43 AM EDT
[#11]
Quote HistoryOriginally Posted By eagarminuteman: Better start investing in the popcorn industry now. |
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Posted: 5/11/2024 9:42:59 AM EDT
[#12]
Quote HistoryOriginally Posted By Paul_Sothern: I read the latest figure is a reduction to 77% due to early retirements (due to Covid and the vaccine mandates). Mark my words -there will be no reduction. They will increase the retirement age a bit and increase the earnings subject to the SS tax. Or they will print money so inflation will solve the problem. Quote HistoryOriginally Posted By Paul_Sothern: Originally Posted By Kraquine: It should have been explained a bit better. "run short of funds" meaning short of funds for full benefits, (reduced to 83%), NOT an empty kitty. I read the latest figure is a reduction to 77% due to early retirements (due to Covid and the vaccine mandates). Mark my words -there will be no reduction. They will increase the retirement age a bit and increase the earnings subject to the SS tax. Or they will print money so inflation will solve the problem. I agree, that's just a projection IF nothing is done. It'll get fixed but I think they're just kicking it down the road for now. |
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Posted: 5/11/2024 9:44:42 AM EDT
[#13]
Quote HistoryOriginally Posted By JLPettimoreIII: teddy says: sucks to suck. renters lol. fuck you pay me. work some OT for me boi lol. Teddy is gonna enjoy being my dogs fuck toy. |
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Posted: 5/11/2024 9:46:56 AM EDT
[#14]
Quote HistoryOriginally Posted By Notcalifornialegal: I hadn't considered the DI funds. That's a strong possibility. What are the reserves in DI vs Standard? Quote HistoryOriginally Posted By Notcalifornialegal: Originally Posted By exponentialpi: SSDI isn't the problem. It is funded for 75 years in the projections. Boomers will loot it to make sure they get theirs. Or the QALY shows up because Medicare detonates first. And then the screeching will be epic. I hadn't considered the DI funds. That's a strong possibility. What are the reserves in DI vs Standard? At the end of 2023, OASI was 2.6T and DI was 147B. The problem is the drawdown on OASI was 70B last year alone and is going to increase as the rolls grow. That cliff is fun.  Attached File |
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Posted: 5/11/2024 9:47:00 AM EDT
[#15]
Quote HistoryOriginally Posted By LurchAddams: It's election season. |
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Posted: 5/11/2024 9:47:17 AM EDT
[#16]
Quote HistoryOriginally Posted By SnazSleepWalker: "Social security" and "supplemental security income" come from different pools of money and have no effect on each other. You all just enjoy twisting each other's panties and then yelling about it. |
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Posted: 5/11/2024 9:49:09 AM EDT
[Last Edit: Notcalifornialegal]
[#17]
Quote HistoryOriginally Posted By exponentialpi: At the end of 2023, OASI was 2.6T and DI was 147B. The problem is the drawdown on OASI was 70B last year alone and is going to increase as the rolls grow. That cliff is fun. https://www.ar15.com/media/mediaFiles/200878/Cliff_PNG-3211474.JPG Damn that's not even two years worth. I bet they still combine it like you're saying as a stop gap. |
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Posted: 5/11/2024 10:05:06 AM EDT
[#18]
Quote HistoryOriginally Posted By rainmaker9: Boomers are gonna vote to sieze the 401k of younger generations next so it can be funneled into to SSA. I'm voting to put the younger generations directly into slavery. After a few days under the whip they'll be singing a different tune indeed.  I thought the thread was about SSI? 
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Posted: 5/11/2024 10:10:12 AM EDT
[#19]
Quote HistoryOriginally Posted By Paul: I thought the thread was about SSI? It's a revival meeting for the boomertardians. They have no idea what SSI is. |
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Posted: 5/11/2024 10:12:57 AM EDT
[#20]
They're conflating Social Security with Welfare.
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Posted: 5/11/2024 10:26:14 AM EDT
[#21]
Quote HistoryOriginally Posted By Jack-of-Hearts: They're conflating Social Security with Welfare. It's been weeks without an SS thread. The poor kids were in withdrawls... 
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Posted: 5/11/2024 10:28:42 AM EDT
[#22]
Quote HistoryOriginally Posted By Jack-of-Hearts: They're conflating Social Security with Welfare. How is it not? |
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Posted: 5/11/2024 10:32:10 AM EDT
[#23]
Quote HistoryOriginally Posted By Notcalifornialegal: How is it not? 
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USA
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Posted: 5/11/2024 10:40:30 AM EDT
[Last Edit: Caeser2001]
[#24]
Quote HistoryOriginally Posted By SkyFive: My wife works at Sam's, she see's the other side, SNAP. Grocery carts full of premium food products, steaks, lobster, ribs ect. I worked at a grocery store near the projects in high school. That really woke me up. Two carts full of food. One full of steak, lobster, ribs, crab legs, scallops, shrimp. One full of microwaveable meals, chicken nuggets for the kids. Then the milk, juice, eggs etc paid by WIC. Then the "cash" benefits used to buy carton of cigarettes.  theworkkngmanisasucker.gif |
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Posted: 5/11/2024 10:40:32 AM EDT
[#25]
Quote HistoryOriginally Posted By manderson1911: Boomers voting to take care of boomers while screwing everyone else and sending us the bill is completely on brand for that generation. Do you know what SSI is and how it is funded? Who receives SSI benefits? |
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Posted: 5/11/2024 10:42:28 AM EDT
[#26]
Quote HistoryOriginally Posted By Notcalifornialegal: How is it not? Quote HistoryOriginally Posted By Notcalifornialegal: Originally Posted By Jack-of-Hearts: They're conflating Social Security with Welfare. How is it not?
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Posted: 5/11/2024 10:50:48 AM EDT
[#27]
Quote HistoryOriginally Posted By exponentialpi: Always has been. there it is.gif |
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OK, USA
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Posted: 5/11/2024 11:05:03 AM EDT
[#28]
The government wants control, your vote, and your money. That's it. They don't care about you as individual. Who's money is behind these congress critters that constantly steal from us while taking our rights away?
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OH, USA
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Posted: 5/11/2024 11:05:27 AM EDT
[#29]
The money Traitor Joe Biden pissed away to Ukraine could fix it.
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Posted: 5/11/2024 11:06:04 AM EDT
[#30]
Quote HistoryOriginally Posted By MeatGrinder: The money Traitor Joe Biden pissed away to Ukraine could fix it. Serious? |
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Posted: 5/11/2024 11:07:49 AM EDT
[#31]
Quote HistoryOriginally Posted By MeatGrinder: The money Traitor Joe Biden pissed away to Ukraine could fix it. 
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OK, USA
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Posted: 5/11/2024 11:17:05 AM EDT
[#32]
I am robed of more ssa every paycheck than federal taxes.
The South was visionary in 1861. The monster they rebelled against has grown exponentially. They should get freed their slaves before Lincoln did and the war would have had more international support besides the Irish being forced into military service. We're all on the federal plantation now. |
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Posted: 5/11/2024 11:23:18 AM EDT
[#33]
I think they'll use inflationary measures to fund it in the future (printing money).
Then we'll really be off to the races. |
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Posted: 5/11/2024 11:50:26 AM EDT
[Last Edit: Notcalifornialegal]
[#34]
Quote HistoryOriginally Posted By SuperSixOne: I think they'll use inflationary measures to fund it in the future (printing money). Then we'll really be off to the races. That's what the Chief Economist said as well. |
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Posted: 5/11/2024 11:52:20 AM EDT
[#35]
Quote HistoryOriginally Posted By 64tinc: I am robed of more ssa every paycheck than federal taxes. The South was visionary in 1861. The monster they rebelled against has grown exponentially. They should get freed their slaves before Lincoln did and the war would have had more international support besides the Irish being forced into military service. We're all on the federal plantation now. go on welfare. problem solved, problem staying solved. |
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Posted: 5/11/2024 11:55:28 AM EDT
[#36]
Well, I was planning to wait 3 more years to start getting mine.
Maybe I should start now. |
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FL, USA
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Posted: 5/11/2024 12:09:56 PM EDT
[#37]
Originally Posted By 1975: To make it “more fair and equitable”. Clown world. Social Security Administration to expand access to benefits under major overhaul https://www.ar15.com/media/mediaFiles/259519/IMG_4353_jpeg-3211043.JPG The Social Security Administration is poised to bring in new rules which will make it easier for qualifying Americans to access certain benefits - and increase payments for some. The change will apply to Supplemental Security Income (SSI), which is a means-tested program which provides monthly checks for more than 7 million disabled Americans and seniors over 65. The new rules will expand the definition of what qualifies as a public-assistance household - the first change since 1980. Currently, food assistance may count as unearned income for those receiving SSI, meaning their payments could be slashed or their eligibility affected. Those that receive Supplemental Nutrition Assistance Program, or SNAP, payments, will be included in the definition of public-assistance household under the new rules which are set to go into effect on September 30. The new policy will also expand the definition to take in households where not all members receive public assistance, which was previously a requirement. A public-assistance household will now be defined as one with both an SSI applicant or beneficiary, as well as at least one other member who receives one or more forms of means-tested public income maintenance payments, CNBC reported. 'By simplifying our policies and including an additional program geared towards low-income families, such as the SNAP, we are removing significant barriers to accessing SSI,' Social Security Commissioner Martin O'Malley said in a statement. 'These changes promote greater equity in our programs.' Currently, the maximum monthly SSI benefit is $943 per individual, and $1,415 for an individual and eligible spouse. The definition of a public-assistance household has not been updated in decades, Darcy Milburn, director of Social Security and healthcare policy at non-profit The Arc, told CNBC. 'I would characterize this as just good policy and commonsense changes to update this definition,' Milburn said. With the change, more Americans could qualify for SSI, or current beneficiaries may see higher payments. It comes after the Social Security Administration announced earlier this week it is expected to run short on funds by 2035. An aging population is pushing up the cost of the Social Security program as a smaller share of people are paying into it, and spending is outpacing income. The latest annual report from the Social Security Board of Trustees found that the program will only be able to pay out full benefits for the next 11 years - which is one year later than previous estimates. https://www.ar15.com/media/mediaFiles/259519/IMG_4354_jpeg-3211085.JPG F FDR FJB |
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Posted: 5/11/2024 12:27:24 PM EDT
[#38]
Quote HistoryOriginally Posted By 64tinc: I am robed of more ssa every paycheck than federal taxes. The South was visionary in 1861. The monster they rebelled against has grown exponentially. They should get freed their slaves before Lincoln did and the war would have had more international support besides the Irish being forced into military service. We're all on the federal plantation now. I got in trouble for disrobing myself in a SSA office. |
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Posted: 5/11/2024 12:55:20 PM EDT
[#39]
All of the federal government should enrolled in SS and Medicare , not their own special retirement and medical plans.
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TX, USA
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Posted: 5/11/2024 1:02:02 PM EDT
[#40]
Quote HistoryOriginally Posted By C-4: @C3H5N3O9 Someone posted that in another thread. Scary how stupid some people are in government. Quote HistoryOriginally Posted By C-4: Originally Posted By C3H5N3O9: Originally Posted By JLPettimoreIII: Originally Posted By BTccw: Y'all don't get it. They don't believe they can run out of something they can create. Some of this gets really complicated.
@C3H5N3O9 Someone posted that in another thread. Scary how stupid some people are in government. @C-4 Yep, that thread is where I saw it. Most people know how self serving and incompetent the people in government are at a visceral level, but to have it on display like that was a rare treat. It’s like the time a friend of mine asked our congressman what the plan was for funding all the CV19 gibs, and totally serious, the congressman said, “We’ll just print more money.” |
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AZ, USA
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Posted: 5/11/2024 2:01:46 PM EDT
[#41]
ummm...was bankrupt when they first dipped into it and replaced their bullshit fiat, with IOUs of fiat on fiat....
lmao...i mean c'mon, y'all still believe this shit has money in it? has no one learned anything since the dotcom bust, the banking failure of 08, etc etc etc.... |
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Posted: 5/11/2024 2:01:56 PM EDT
[#42]
Problem is not money, since it's digital now for the most, and they can always print more of it if the banks run short on actual paper money instead.
Hence look at the all digital only money in circulation now in the banking systems, verse what is accumulate printed money in circulation, and the printed money is not even 1/4 of the amount of digital funds (and that not counting unregulated funds out side the banking system, like cryptocurrency). As for what holds up the USA dollar, its the currency of the world bank. So the problem, USA credit score drops to the point that rest of the world no longer uses the USA dollar at world banking currency, this case hyper inflation as the US dollar tanks, and if you through the great depression was bad, don't have a clue how bad is going to be this time around, including the government banning civilian possessions of precious metals again, to try to right the mess off the back of the civilians again. Currently, USA government is $35 trillion in debt, congress keeps passing debt increases but has not clue on how to stop is from keeping running out of control, and even raising taxes to some reasonable amount, can not stop it. Bottom line, if the government was any one's accountant, would have been fired when they had to take loans from JP Morgan when USA dollar was still on gold standards, and now off gold standards/nothing to back up the monopoly money that are playing with now, just a mater of time until the house of cards come crashing down. |
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Posted: 5/11/2024 2:13:23 PM EDT
[#43]
Quote HistoryOriginally Posted By Bat15: They are talking about SSI, supplemental security income, not Social Security. SSI is funded by the Treasury Department from general revenues not the FICA tax. How is SSI funded The Social Security trust fund is expected to run out in 11 years which is 2035. They have been saying 2034 or 2035 for at least the last five years. ETA SSI is welfare. I believe there are a lot of fake claims. Following Biden logic we should make it easier to file claims.  No. Social Security was a forced Insurance program in case you outlived your financial preparations in old age. We have paid into it our whole lives, they owe us what we paid for. |
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Posted: 5/11/2024 2:14:17 PM EDT
[#44]
Quote HistoryOriginally Posted By fadedsun: We shouldn’t be funding Ukrainian pensions. However, we’ve been funding Social security since what, 1930 when it was created? Who has been funding SS? It hasn’t been the government, it was FICA payroll deductions that funded it. |
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Posted: 5/11/2024 2:17:18 PM EDT
[#45]
Quote HistoryOriginally Posted By TheOtherDave: No. Social Security was a forced Insurance program in case you outlived your financial preparations in old age. We have paid into it our whole lives, they owe us what we paid for. you're not getting shit. |
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Posted: 5/11/2024 2:20:47 PM EDT
[#46]
Quote HistoryOriginally Posted By MADMAXXX: Idiot Liberal talking points. We are giving financial aid to Ukraine for all residents there in addition to giving arms for defense. The fact that someone receiving financial aid is retired is irrelevant You can try and sugar-coat it and politician-splain it away, but the fact is that the Government is telling us right now that they can’t meet the agreement they made with us for SS retirement income while ther checkbook is open for every pet cause they can think of. It’s almost like they are stealing the silverware on the way out… |
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MN, USA
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Posted: 5/11/2024 2:24:25 PM EDT
[#47]
It's my money and you want it now! Call JG Wentworth at 877-FUCKJOE
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TX, USA
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Posted: 5/11/2024 2:24:32 PM EDT
[#48]
Quote HistoryOriginally Posted By TheOtherDave: It’s far worse than this article suggests…. We are currently directly paying the retirement payments for people in Ukraine while our own Social Security has a decade until it can’t meet its obligations. They literally care more about retired people in Ukraine than they do you. Quote HistoryOriginally Posted By TheOtherDave: Originally Posted By byron2112: This government sucks It’s far worse than this article suggests…. We are currently directly paying the retirement payments for people in Ukraine while our own Social Security has a decade until it can’t meet its obligations. They literally care more about retired people in Ukraine than they do you.  Attached File |
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Posted: 5/11/2024 2:25:00 PM EDT
[#49]
Quote HistoryOriginally Posted By Paul_Sothern: I read the latest figure is a reduction to 77% due to early retirements (due to Covid and the vaccine mandates). Mark my words -there will be no reduction. They will increase the retirement age a bit and increase the earnings subject to the SS tax. Or they will print money so inflation will solve the problem. They would have to increase FICA to 18% in order to just meet current obligations. |
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WA, USA
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Posted: 5/11/2024 3:32:38 PM EDT
[#50]
Quote HistoryOriginally Posted By akguy1985: I will never see a dime of the money I have paid in to social security for the past 23 years. You will..... it just won't be worth anything. |
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