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Posted: 6/5/2018 6:28:59 PM EDT
[#1]
What's old is new again, or whatever
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Posted: 6/5/2018 6:30:04 PM EDT
[#2]
Wonderful....
So glad I'm paying into this bullshit that won't be around in 40 years or so. 
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Posted: 6/5/2018 6:30:15 PM EDT
[#3]
So excited I get to “donate” 15% of my income to the this scam.
 Edit: 11 seconds. |
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Posted: 6/5/2018 6:30:54 PM EDT
[#4]
Quoted:
https://www.foxbusiness.com/politics/social-security-to-tap-reserves-to-cover-2018-benefits The total costs of Social Security will exceed total income this year for the first time since 1982, according to the annual Social Security and Medicare trustees report released on Tuesday, as funds for Medicare are expected to run dry earlier than expected.
While costs have exceeded net income since 2010, this is the first time in more than three decades that spending is expected to outweigh total income, by about $2 billion, meaning asset reserves will decline. Asset reserves as of 2017 were $2.9 trillion. The trustees forecast that 100% of benefits will be covered through 2034, after which the trust funds for Social Security, which also cover old age and disability insurance programs, will only be able to cover about 79% of benefits. |
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Posted: 6/5/2018 6:33:08 PM EDT
[#5]
Quote HistoryQuoted:
Wonderful.... So glad I'm paying into this bullshit that won't be around in 40 years or so. |
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Posted: 6/5/2018 6:33:11 PM EDT
[#6]
If Social Security only payed to those who put in, there would not be a problem.
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Posted: 6/5/2018 6:33:24 PM EDT
[#7]
Just stop SDI/SSDI
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Posted: 6/5/2018 6:35:16 PM EDT
[#8]
Quote HistoryQuoted:
If Social Security only payed to those who put in, there would not be a problem. |
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Posted: 6/5/2018 6:35:32 PM EDT
[#9]
The reserves that were raided and spent decades ago to buy votes?
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Posted: 6/5/2018 6:35:54 PM EDT
[#10]
Quote HistoryQuoted:
Wonderful.... So glad I'm paying into this bullshit that won't be around in 40 years or so. |
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Posted: 6/5/2018 6:37:15 PM EDT
[#11]
Quote HistoryQuoted:
I don’t follow, if net income is total income minus expenses but before payouts then how have they NOT been depleting reserves. Money tree? Quote HistoryQuoted:
Quoted:
https://www.foxbusiness.com/politics/social-security-to-tap-reserves-to-cover-2018-benefits The total costs of Social Security will exceed total income this year for the first time since 1982, according to the annual Social Security and Medicare trustees report released on Tuesday, as funds for Medicare are expected to run dry earlier than expected.
While costs have exceeded net income since 2010, this is the first time in more than three decades that spending is expected to outweigh total income, by about $2 billion, meaning asset reserves will decline. Asset reserves as of 2017 were $2.9 trillion. The trustees forecast that 100% of benefits will be covered through 2034, after which the trust funds for Social Security, which also cover old age and disability insurance programs, will only be able to cover about 79% of benefits. |
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Posted: 6/5/2018 6:37:23 PM EDT
[#12]
"The only thing we have to fear..."
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Posted: 6/5/2018 6:37:37 PM EDT
[#13]
They’ll do away with income caps.
Then apply means testing. At that point there’s no hiding that it’s simply wealth redistribution. |
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Posted: 6/5/2018 6:37:43 PM EDT
[#14]
That is better than I would have thought.
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Posted: 6/5/2018 6:38:59 PM EDT
[#15]
Quote HistoryQuoted:
If Social Security |
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Posted: 6/5/2018 6:39:16 PM EDT
[#16]
W wanted to fix it, kind of.
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Posted: 6/5/2018 6:39:28 PM EDT
[#17]
Quote HistoryQuoted:
They’ll do away with income caps. Then apply means testing. At that point there’s no hiding that it’s simply wealth redistribution. |
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Posted: 6/5/2018 6:39:56 PM EDT
[#18]
Quote HistoryQuoted:
"The only thing we have to fear..." http://www.americanheritage1.com/assets/images/presidents/franklin-delano-roosevelt-photo-6.gif |
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Posted: 6/5/2018 6:40:19 PM EDT
[#19]
Quote HistoryQuoted:
Wonderful.... So glad I'm paying into this bullshit that won't be around in 40 years or so. The thing that will change is your FICA tax rate, as it has in the past numerous times. It was 1% in 1937. |
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Posted: 6/5/2018 6:40:19 PM EDT
[#20]
Quote HistoryQuoted:
Wonderful.... So glad I'm paying into this bullshit that won't be around in 40 years or so. |
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Posted: 6/5/2018 6:40:49 PM EDT
[#21]
and the funniest thing I heard today was Nancy Pelsoi blaming Trump for this.
Supposedly $60B worth of fraud in the system, but as we know it will just be easier for them to raise taxes on SS/Medicare than to get the fraudsters. |
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Posted: 6/5/2018 6:41:10 PM EDT
[#22]
Quote HistoryQuoted:
So excited I get to “donate” 15% of my income to the this scam. Edit: 11 seconds. Shit. Even if the investment managers were total scumbags and took a vig, it gotta be better than what we ended up with. I think Chile did that and it was successful |
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Posted: 6/5/2018 6:43:31 PM EDT
[#23]
I can't wait until the gold bugs get hit with the return of EO 6102.
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Posted: 6/5/2018 6:44:05 PM EDT
[#24]
If you are not over 62 you shouldn't be getting SS period.
And if you never paid in? Tough shit!! |
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Posted: 6/5/2018 6:44:13 PM EDT
[#25]
Quote HistoryQuoted:
Wonderful.... So glad I'm paying into this bullshit that won't be around in 40 years or so. |
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Posted: 6/5/2018 6:45:19 PM EDT
[#26]
So I will get shafted at age 76. That's nice.
This story definitely tilts the scale toward filing as early as possible. I'll turn 62 in 1 year and 8 months. I have easily enough in savings to stay afloat until then without digging much into principal. 
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Posted: 6/5/2018 6:45:38 PM EDT
[#27]
How long before they implement a means test? "Oh, you have another retirement, well you don't need SS then. Thanks for paying into it though, sucker."
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Posted: 6/5/2018 6:45:49 PM EDT
[#28]
Quote HistoryQuoted:
They'll do away with income caps. Then apply means testing. At that point there's no hiding that it's simply wealth redistribution. |
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Posted: 6/5/2018 6:49:48 PM EDT
[#29]
With more people working there will be more paid into the fund. The amount paid to recipiants depends on how much they paid in. Reduce the fraud and keep congress' hands out of the pot. It will probably last longer than this country will.
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Posted: 6/5/2018 6:52:14 PM EDT
[#30]
Quote HistoryQuoted:
How long before they implement a means test? "Oh, you have another retirement, well you don't need SS then. Thanks for paying into it though, sucker." Chances are I am not going to get it anyway. |
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Posted: 6/5/2018 6:56:46 PM EDT
[#31]
Quote HistoryQuoted:
I can't wait until the gold bugs get hit with the return of EO 6102. |
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Posted: 6/5/2018 7:01:33 PM EDT
[#32]
Quote HistoryQuoted:
So I will get shafted at age 76. That's nice. This story definitely tilts the scale toward filing as early as possible. I'll turn 62 in 1 year and 8 months. I have easily enough in savings to stay afloat until then without digging much into principal. Better take it while you can get it ! |
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Posted: 6/5/2018 7:05:18 PM EDT
[#33]
Those previous generation spent the money the baby-boomers put into the system, and now the baby-boomers are retiring, plus the boomers are also living longer. And to complicate things even further, there is a trending of lower births. Huge scam by making future generations taking care of the elderly. The govt can't generate wealth only redistribute them.
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Posted: 6/5/2018 7:06:07 PM EDT
[#34]
Quote HistoryQuoted:
So I will get shafted at age 76. That's nice. This story definitely tilts the scale toward filing as early as possible. I'll turn 62 in 1 year and 8 months. I have easily enough in savings to stay afloat until then without digging much into principal. |
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Posted: 6/5/2018 7:08:16 PM EDT
[#35]
Quote HistoryQuoted: Determining when to take SS is no longer a matter of contention. Better take it while you can get it !  Attached File |
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Posted: 6/5/2018 7:10:28 PM EDT
[#36]
Quote HistoryQuoted: I thought it was 2033....but close enough: https://www.AR15.Com/media/mediaFiles/369122/Screenshot_20180217-120620-566956.JPG |
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Posted: 6/5/2018 7:11:17 PM EDT
[#37]
I never count SS in my retirement planning. My biggest fear is that they steal from our private retirement accounts. That is why I am bullish on bulldozers
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Posted: 6/5/2018 7:11:31 PM EDT
[#38]
"Reserves" LOL
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Posted: 6/5/2018 7:13:50 PM EDT
[#39]
"assets" "reserves"
You keep using these words... |
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Posted: 6/5/2018 7:14:12 PM EDT
[#40]
Get rid of early retirement at 62 and watch the magic happen.
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Posted: 6/5/2018 7:14:37 PM EDT
[#41]
Quote HistoryQuoted:
How long before they implement a means test? "Oh, you have another retirement, well you don't need SS then. Thanks for paying into it though, sucker." |
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Posted: 6/5/2018 7:14:51 PM EDT
[#42]
Keep working for me.
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Posted: 6/5/2018 7:22:29 PM EDT
[#43]
That's adorable. Just a year or so before I become eligible.
But I'm not that worried about it, been contributing since 15 yrs old and I've been paying at the max SS withholding for years so I can assure you that one way or another I'm getting my fucking money. |
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Posted: 6/5/2018 7:24:07 PM EDT
[#44]
Quote HistoryQuoted:
I don’t follow, if net income is total income minus expenses but before payouts then how have they NOT been depleting reserves. Money tree? |
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Posted: 6/5/2018 7:34:19 PM EDT
[#45]
Medicare is in much worse shape.
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Posted: 6/5/2018 7:39:28 PM EDT
[#46]
Won't see a dime of it.
I'll be 49. And with the income I make now, I won't need a dime of it. But still sucks I can't invest that money privately and make 8-10% on it myself. |
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Posted: 6/5/2018 7:45:35 PM EDT
[#47]
Quote HistoryQuoted:
If Social Security only payed to those who put in, there would not be a problem. |
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Posted: 6/5/2018 7:47:17 PM EDT
[#48]
The American taxpayer is the biggest sucker on the Planet.
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Posted: 6/5/2018 7:47:18 PM EDT
[#49]
Quote HistoryQuoted:
The way things are going it won’t be that long before it implodes on itself. That’s if they don’t prop it up with other “reserves.” Quote HistoryQuoted:
Quoted:
Wonderful.... So glad I'm paying into this bullshit that won't be around in 40 years or so. SS isn't going to implode, the govt will just keep making more money, like they have been for many decades |
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Posted: 6/5/2018 7:50:03 PM EDT
[#50]
Quote HistoryQuoted:
The thing that burns my ass is if they had invested it instead of pilfering it we’d probably be on good shape. Shit. Even if the investment managers were total scumbags and took a vig, it gotta be better than what we ended up with. I think Chile did that and it was successful Quote HistoryQuoted:
Quoted:
So excited I get to “donate” 15% of my income to the this scam. Edit: 11 seconds. Shit. Even if the investment managers were total scumbags and took a vig, it gotta be better than what we ended up with. I think Chile did that and it was successful They should all be put in prison for fraud. |
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