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User Panel
User Panel
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Posted: 7/14/2017 7:48:45 PM EDT
ONE FUCKING YEAR before I'm eligible to start collecting it
The Social Security and Medicare trustees issued their 2017 annual report on Thursday, and it began with an alarm bell. “Both Social Security and Medicare face long-term financing shortfalls under currently scheduled benefits and financing,” the trustees wrote in the summary of the 268-page document. “The Trustees recommend that lawmakers take action sooner rather than later to address these shortfalls.” The Trustees also projected the biggest increase in payouts in years—a 2.2% increase—which comes to an average of about $28 per person. Insolvency is on track for 2028 for the disability fund and 2034 for seniors. Insolvent, however, does not mean empty; it means that the funds would not be able to completely fulfill its debts to the public. It’s not as bad as a $0 check sent to American seniors, but the stakes are still high. https://finance.yahoo.com/news/social-security-track-large-abrupt-cuts-17-years-unless-congress-acts-175058898.html |
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Posted: 7/14/2017 7:51:53 PM EDT
[#1]
Let's bring in another 10 million third worlders, including their grandparents. That should improve things dramatically.
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Posted: 7/14/2017 7:52:14 PM EDT
[#2]
Then that just means it's insolvent now.
Congress will just raise the deduction and fund it in the budget. Nothing to worry about. |
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Posted: 7/14/2017 7:53:32 PM EDT
[#3]
You thought you were getting that money back after they took it from you?
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Posted: 7/14/2017 7:55:20 PM EDT
[#4]
Quote HistoryQuoted:
You thought you were getting that money back after they took it from you? |
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Posted: 7/14/2017 7:57:49 PM EDT
[#5]
Democrat Answer: Raise taxes. Grow Govt. Bring in Illegals by the millions.
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Posted: 7/14/2017 7:59:30 PM EDT
[#6]
"There is no fucking money, missions over." 
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Posted: 7/14/2017 8:00:41 PM EDT
[#7]
Quote HistoryQuoted:
Democrat Answer: Raise taxes. Grow Govt. Bring in Illegals by the millions. |
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Posted: 7/14/2017 8:03:27 PM EDT
[#8]
There's a clip somewhere of Alan Greenspan testifying to congress about it. He says "I can absolutely promise that everyone will receive the dollars they are owed from ss, but I cannot guarantee what those dollars will be worth."
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Posted: 7/14/2017 8:04:07 PM EDT
[#9]
The key is finding how much money has been collected every year since the start and how much is paid out.
Congress has been spending the excess and replacing that with IOUs. Had they really placed the excess in a "lock box," it should be much better |
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Posted: 7/14/2017 8:05:41 PM EDT
[#10]
I hope they take my 401K into account, and give me less or nothing because I'm "fortunate enough" to have had a 401K, so my SS money can go to someone "less fortunate".
That's what I'll be told anyway. |
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Posted: 7/14/2017 8:06:41 PM EDT
[#11]
Just refund what ive paid in so far and stop taking it out and we are square
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Posted: 7/14/2017 8:07:48 PM EDT
[#12]
Oh yeah?
When I was 18 they predicted that SS would be insolvent by 2000. That was 43 years ago. |
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Posted: 7/14/2017 8:08:18 PM EDT
[#13]
Stop transferring funds from Social Security to the fraud infested SSI Disability program ASAP.
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Posted: 7/14/2017 8:09:11 PM EDT
[#14]
Quote HistoryQuoted:
Just refund what ive paid in so far and stop taking it out and we are square |
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Posted: 7/14/2017 8:09:59 PM EDT
[#15]
Quote HistoryQuoted:
Just refund what ive paid in so far and stop taking it out and we are square 
It's been 80 years. Ignorance is not an excuse for believing FDR's propaganda. |
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Posted: 7/14/2017 8:10:14 PM EDT
[#16]
Quoted:
ONE FUCKING YEAR before I'm eligible to start collecting it
The Social Security and Medicare trustees issued their 2017 annual report on Thursday, and it began with an alarm bell. “Both Social Security and Medicare face long-term financing shortfalls under currently scheduled benefits and financing,” the trustees wrote in the summary of the 268-page document. “The Trustees recommend that lawmakers take action sooner rather than later to address these shortfalls.” The Trustees also projected the biggest increase in payouts in years—a 2.2% increase—which comes to an average of about $28 per person. Insolvency is on track for 2028 for the disability fund and 2034 for seniors. Insolvent, however, does not mean empty; it means that the funds would not be able to completely fulfill its debts to the public. It’s not as bad as a $0 check sent to American seniors, but the stakes are still high. https://finance.yahoo.com/news/social-security-track-large-abrupt-cuts-17-years-unless-congress-acts- 175058898.html I've always joked and said "just you watch, ss will run out just as I'm getting ready to retire" Sure as shit, right down to the year
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Posted: 7/14/2017 8:10:35 PM EDT
[#17]
Sounds good to me.
Obviously we're not going to get rid of social security right away, so Congress should pass the Do Nothing About Social Security Act, and phase it out in 2034 or when it becomes insolvent, which will probably be well before 2034. |
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Posted: 7/14/2017 8:11:48 PM EDT
[#18]
Quote HistoryQuoted:
The key is finding how much money has been collected every year since the start and how much is paid out. Congress has been spending the excess and replacing that with IOUs. Had they really placed the excess in a "lock box," it should be much better |
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Posted: 7/14/2017 8:13:17 PM EDT
[#19]
Quote HistoryQuoted:
http://i.imgur.com/qa6Pgg1.gif "There is no fucking money, missions over." http://4.bp.blogspot.com/-T-EU75G5PjM/Tbe6LEY2ebI/AAAAAAAAdbg/B4HA8qOyWS0/s1600/xmen_first_class_ver6_xlg.jpg |
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Posted: 7/14/2017 8:13:48 PM EDT
[#20]
In 2034 I will be 85.
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Posted: 7/14/2017 8:14:38 PM EDT
[#21]
Quote HistoryQuoted:
I hope they take my 401K into account, and give me less or nothing because I'm "fortunate enough" to have had a 401K, so my SS money can go to someone "less fortunate". That's what I'll be told anyway. |
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Posted: 7/14/2017 8:15:35 PM EDT
[#22]
Quote HistoryQuoted:
You didn't pay into anything except the general fund.
It's been 80 years. Ignorance is not an excuse for believing FDR's propaganda. |
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Posted: 7/14/2017 8:16:40 PM EDT
[#23]
By the time I'm ready to retire, the social security age will by 97.
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Posted: 7/14/2017 8:19:46 PM EDT
[#24]
This is the time to pay all your debts and secure a safe compound.
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Posted: 7/14/2017 8:22:39 PM EDT
[#25]
Abolish social security and that disability scam.. I've been scammed out of 10k in SSI just from my own FSA mother, while I was away doing military training. Had to pay all that back. I want to opt out of this 80 year scam.
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Posted: 7/14/2017 8:24:32 PM EDT
[#26]
Quote HistoryQuoted:
This is the time to pay all your debts and secure a safe compound. |
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Posted: 7/14/2017 8:28:55 PM EDT
[#27]
Quote HistoryQuoted:
You thought you were getting that money back after they took it from you? |
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Posted: 7/14/2017 8:42:46 PM EDT
[#28]
On the bright side, people who used to argue with me about SS now admit that I was right.
Not all of them, but many of them. One size fits all products, tell me again about how good they are. 
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Posted: 7/14/2017 8:49:05 PM EDT
[#29]
Quote HistoryQuoted:
Stop transferring funds from Social Security to the fraud infested SSI Disability program ASAP. |
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Posted: 7/14/2017 8:51:27 PM EDT
[#30]
It won't be insolvent it's backed by the printing press
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Posted: 7/14/2017 8:54:37 PM EDT
[#31]
Quote HistoryQuoted:
.... it's insolvent now. |
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Posted: 7/14/2017 8:56:25 PM EDT
[#32]
I can't opt out of paying into it and it's unlikely I'll ever get that money back.
I want a refund. |
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Posted: 7/14/2017 9:01:14 PM EDT
[#33]
Quote HistoryQuoted:
Let's bring in another 10 million third worlders, including their grandparents. That should improve things dramatically. 
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Posted: 7/14/2017 9:11:06 PM EDT
[#34]
Quote HistoryQuoted:
Stop transferring funds from Social Security to the fraud infested SSI Disability program ASAP. Biggest fraud in America. People get laid off.......pick up their 2 yr extended unemployment check......get to sit home, maybe pick up an odd job for cash on the side....then when unemployment starts to run out and they've gotten used to that couch......they find the "ouch my back" SSI Disability honeypot. |
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Posted: 7/14/2017 9:20:14 PM EDT
[#35]
So about the time an entire generation of GWOT vets who are just old enough to decide they're completly out of fucks are getting ready to draw?
Well.... that's gonna be interesting. |
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Posted: 7/14/2017 9:24:28 PM EDT
[#36]
Quote HistoryQuoted:
THIS... Biggest fraud in America. People get laid off.......pick up their 2 yr extended unemployment check......get to sit home, maybe pick up an odd job for cash on the side....then when unemployment starts to run out and they've gotten used to that couch......they find the "ouch my back" SSI Disability honeypot. Quote HistoryQuoted:
Quoted:
Stop transferring funds from Social Security to the fraud infested SSI Disability program ASAP. Biggest fraud in America. People get laid off.......pick up their 2 yr extended unemployment check......get to sit home, maybe pick up an odd job for cash on the side....then when unemployment starts to run out and they've gotten used to that couch......they find the "ouch my back" SSI Disability honeypot. SSI, which stands for "supplemental security income" is not actually part of the Social Security system but is funded out of it and people who have never even paid a dime of FICA, both "disabled" and not disabled receive benefits. Non disabled people who have never worked can receive benefits based on their income. It's actually a parallel general welfare system piggybacked onto social security. |
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Posted: 7/14/2017 9:29:37 PM EDT
[#37]
Quote HistoryQuoted:
Oh yeah? When I was 18 they predicted that SS would be insolvent by 2000. That was 43 years ago. 
See the "years in fund" thing? SS was running on just 2 months in reserve for a good part of the 80s. They had to greatly increase the tax to save it. It's coming back, bigger than ever, as the biggest generation in American history (Boomers) retire as they're being funded by a far smaller generation (Millennials). |
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Posted: 7/14/2017 9:30:12 PM EDT
[#38]
But according to some here it has helped millions of Americans!
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Posted: 7/14/2017 9:52:43 PM EDT
[#39]
It's nice to know that I will have maxed out FICA for 30+ years and nothing will be there 2 years before I could draw anything.
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Posted: 7/14/2017 9:57:20 PM EDT
[#40]
Insolvent does not mean there is zero money left.
In reality SS has been insolvent for decades. i don't count the worthless IOUs as assets. |
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Posted: 7/14/2017 9:59:03 PM EDT
[#41]
People will get paid.
Just like people had lots of cash in Zimbabwe. Of course you need a wheelbarrow full of it to buy some food. Your ss check will be 3000 a month. Your grocery bill for 2 weeks will be 9000. Technically if there is one person paying into SS it can not be insolvent. It's by design. When it reaches the point where there is not enough to pay out all of it's obligations the law is that everyone gets a hair cut. If only 100 dollars come in a month they split it millions of ways. But they will get paid. |
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Posted: 7/14/2017 9:59:31 PM EDT
[#42]
I was told the funds taken from me for the past 40 years are in a lock box.......so I'm not worried.
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Posted: 7/14/2017 10:00:36 PM EDT
[#43]
Great! My projected retirement year!!
 
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Posted: 7/14/2017 10:03:46 PM EDT
[#44]
Quote HistoryQuoted:
I've always joked and said "just you watch, ss will run out just as I'm getting ready to retire" Sure as shit, right down to the year |
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Posted: 7/14/2017 10:05:02 PM EDT
[#45]
Quote HistoryQuoted:
Exactly and the very reason that it is FO time should they even talk about taking over citizens' private retirement accounts. |
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Posted: 7/14/2017 11:46:12 PM EDT
[#46]
OP: born in 1973? Me too.
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Posted: 7/14/2017 11:46:54 PM EDT
[#47]
Quote HistoryQuoted:
Don't worry. They will pass a law that allows them to seize private retirement accounts to continue funding it for another year or two. I can't wait to see what cute name they give this bill and how they try to play it off as being better for you than your own account. I have no 401k but I do own a lot of rental property. They will have to get really crafty to take that away. |
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Posted: 7/14/2017 11:49:12 PM EDT
[#48]
Quote HistoryQuoted:
Uhm. SS damn near did collapse in the last 43 years: https://www.AR15.Com/media/mediaFiles/388563/ChartGo-161478.png See the "years in fund" thing? SS was running on just 2 months in reserve for a good part of the 80s. They had to greatly increase the tax to save it. It's coming back, bigger than ever, as the biggest generation in American history (Boomers) retire as they're being funded by a far smaller generation (Millennials). http://www.pewresearch.org/fact-tank/2016/04/25/millennials-overtake-baby-boomers/ |
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Posted: 7/15/2017 12:01:52 AM EDT
[#49]
Quote HistoryQuoted:
Eminent domain There will be no confiscations of property. Congress needs to increase the FICA tax over time and raise the income limit above which it is not taxed. Congress also needs to continue to raise the retirement age. The failure to tax social security like any other income is silly as well. We tax unemployment benefits, why not tax Social Security? |
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Posted: 7/15/2017 12:04:27 AM EDT
[#50]
Quote HistoryQuoted:
This is perfect! |
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