Social Security

[Bruze]

Originally Posted by Wathen1955

Wonder if there are millionaires to collect SS? SS would be fine if the politicians kept their hands out of the cookie jar, and quit giving it to people that have never made a contribution to it.

Why would "millionaires" not be contributing to or collecting SS? With rare exceptions, neither is a choice. Who is getting SS that have never paid into it?

My best buddy is married to a daughter of a guy who was one of the founders of a global business that everybody would know the name of. He died around 2010(?) and was a billionaire.

Before that, my buddy told me his FIL was getting SS and of course didn't need or want it. He attempted to get the SSA to stop sending it to him but there was no mechanism in place for doing that.

So he had to take it. But he gave away $20 million (at least) a few years before he died, so it all evened out in the end. I'm sure there was much more given away that I'm not aware of.

[04 commemorative]

Originally Posted by DAB

Congress has no trouble finding money for all sorts of unplanned things. Bridges that fall into the water, various wars that are not conducted on our soil, natural disasters here and there. And none of them vote. Old folks vote, you mess with their money at your peril.

I wondered why the insurance company for the shipping company is not on the hook to pay for the bridge.
Don't screw with old peoples SS.....there are millions of us and we vote.

[GTOguy]

Originally Posted by slewfoot

Yeh but a vote to change SS will also be a vote for change of representatives. I don't believe for one second the majority voting pubs will stand for this with anyone messing with SS.

Even putting in the effort will pretty much be the end of their political career. Reminds me of this:


https://www.politifact.com/article/2...health-plan-n/

Ever since he was a presidential candidate, President Donald Trump has been promising the American people a "terrific," "phenomenal" and "fantastic" new health care plan to replace the Affordable Care Act.

But, in the 3½ years since he set up shop in the Oval Office, he has yet to deliver.


Yeh, okay!

Uhmmmm Trump has not been president for 4 years. And when he was, you people were throwing rocks at him and sticking sticks in his spokes 24/7/365 yet he STILL managed to turn the ship around. How much glue did you sniff as a kid? You are beyond stupid. Which I wouldn't mind....except that you vote. Whe Obabmacare was introduced, my monthly medical premiums went from $140 to $1015....and the service degraded severely. But hey, we need to pay for the losers, right? To be fair? So they can buy more rims for their Escalades? **** you, Slewfoot.

[GTOguy]

Originally Posted by Yadkin

Try thinking about the man that you killed. And the family that he was supporting. And the kids that had to grow up without a father.

That's gonna leave a big ol' dent. Saaaahh--LAAM!

[Yadkin]

Originally Posted by GTOguy

That's gonna leave a big ol' dent. Saaaahh--LAAM!

Wait for him to show pictures of cats.

[ZipZap]

Originally Posted by Steve_R

Perhaps because Congress has to do that, not the POTUS. Unless you’re Bidumb and just issue Executive Order after Executive Order even after the Supreme Court says he doesn’t have the authority.

EXCEPT for the single one that would at least pause border crossings to take a look at the data...

[zsr22]

I already made peace with the fact SS will not be around when I am eligible to collect.

[GTOguy]

Originally Posted by zsr22

I already made peace with the fact SS will not be around when I am eligible to collect.

I counted on the same thing when I started my retirement planning at age 26. All of the sudden, I hit 62 last year. We didn't run out of oil by 2000. The Ice Age didn't come. The Population Boom didn't crater the world. Y2K fizzled.

So here I am, with an extra 2k a month I didn't count on.
Had I the option to not contribute and invest what SS took for 40+ years, I would have WAAAAAY more than 2k a month income.

[Bruze]

Originally Posted by GTOguy

I counted on the same thing when I started my retirement planning at age 26. All of the sudden, I hit 62 last year. We didn't run out of oil by 2000. The Ice Age didn't come. The Population Boom didn't crater the world. Y2K fizzled.

So here I am, with an extra 2k a month I didn't count on.
Had I the option to not contribute and invest what SS took for 40+ years, I would have WAAAAAY more than 2k a month income.

[ZipZap]

They are already means testing in a sense. If you think your benefit is proportional when you max out for 30 years vs. 1/2 max for 30 years, you're dreaming.

3 things that will happen, in my guess of order:

1) FRA will be raised to 69 or 70.
2) MTA subject to SS taxes will take a jump, over a 5 year span, to almost double what the max is today. So, maybe $300k.
3) BENEFITS means testing will make anyone that has ~100k+ in other income will forfeit the benefits.

[theandies]

It's a government sanctioned Ponzi scheme. I'll never see the ROI or even the amount STOLEN from me for my entire career. I'm all for allowing us to opt out. If I opt out now, then I get ALL my money back. Of course, the government won't do that because the corruption runs deep.

[Mick]

Originally Posted by Jughead

No one in congress will touch the third rail. It would be political suicide.

If anything they'll keep raising the retirement age.

I think this will eventually happen. Younger folks scream about this concept, and stamp their feet that "boomers ruined the system" without accepting the fact that most boomers already "had the goalposts moved" on them.

Originally Posted by Yadkin

They will means test, and screw the top percentages. The folks that worked hard and made good decisions.

We already have means testing of SS.

[theandies]

Originally Posted by slewfoot

Yeh but a vote to change SS will also be a vote for change of representatives. I don't believe for one second the majority voting pubs will stand for this with anyone messing with SS.

Even putting in the effort will pretty much be the end of their political career. Reminds me of this:


https://www.politifact.com/article/2...health-plan-n/

Ever since he was a presidential candidate, President Donald Trump has been promising the American people a "terrific," "phenomenal" and "fantastic" new health care plan to replace the Affordable Care Act.

But, in the 3½ years since he set up shop in the Oval Office, he has yet to deliver.


Yeh, okay!

That's because the ****ed up Republicans in Congress wouldn't work with him and then there are the ****ed up Democrats that won't work with anyone unless you tow the agenda line. Also, you remember the House hell bent on impeachments. But don't worry. Maybe after November he'll do something about the ****ed up system forced on millions by Obama.

[LATB]

Originally Posted by Bruze

Who is getting SS that have never paid into it?

You are kidding right?

[VITE1]

It was, is and always be a vote buying ponzi scheme.

The sooner we privatize our FICA "Contribution " the better America will bw.

[LATB]

Originally Posted by VITE1

It was, is and always be a vote buying ponzi scheme.

The sooner we privatize our FICA "Contribution " the better America will bw.

I would settle for a cash payment for a fraction of my contribution and the balance to be used against future income as a tax credit.

[mrvette]

Originally Posted by Bruze

Why would "millionaires" not be contributing to or collecting SS? With rare exceptions, neither is a choice. Who is getting SS that have never paid into it?

My best buddy is married to a daughter of a guy who was one of the founders of a global business that everybody would know the name of. He died around 2010(?) and was a billionaire.

Before that, my buddy told me his FIL was getting SS and of course didn't need or want it. He attempted to get the SSA to stop sending it to him but there was no mechanism in place for doing that.

So he had to take it. But he gave away $20 million (at least) a few years before he died, so it all evened out in the end. I'm sure there was much more given away that I'm not aware of.

Be nice for someone to make up for some out right crooks that stole a total near 100k bux from me some 20-22 years ago......outright thieves .....

fat chance.....

[DAB]

Originally Posted by 04 commemorative

I wondered why the insurance company for the shipping company is not on the hook to pay for the bridge.
Don't screw with old peoples SS.....there are millions of us and we vote.

that's a risk that they don't cover.

read that there is a law from the 1800s that speaks to this case, and basically the limit of the ship's owner liability is the value of the ship and it's contents. was used in the Titanic sinking. still on the books. Maritime law is weird.

[04 commemorative]

Take SS as soon as you can,my mom waited till 70 to collect and after she received one(1) check she dropped dead
The government loves people like her !

[LATB]

Originally Posted by 04 commemorative

Take SS as soon as you can,my mom waited till 70 to collect and after she received one(1) check she dropped dead
The government loves people like her !

I'm taking it next year at FRA. I waited because of taxable income would trigger taxation on the SS. And as I understand it, the SS will not be taxed after reaching FRA.