tag:blogger.com,1999:blog-3758330678390419129.post3862458100201863490..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Scathing New Report Shows Just How Bankrupt Social Security Really IsRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-3758330678390419129.post-47278623176012025102016-07-01T23:59:18.107-04:002016-07-01T23:59:18.107-04:00The trust funds are already just Treasury bonds, k...The trust funds are already just Treasury bonds, kept afloat by the Fed. Wagshttps://www.blogger.com/profile/14719718595125311688noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-85097764513082848032016-06-30T13:18:30.400-04:002016-06-30T13:18:30.400-04:00I think you really need to look at Flemming V Nest...I think you really need to look at Flemming V Nestor because there is no contract and hasn't been one since 1960. The terms of the deal are simple. You contributed on the basis that future generations might contribute when you retire. Now you want to change the rules.<br /><br />Since SS does not serve all Americans, I think you will have a tough time selling America on the need to print JoeTheEconomisthttps://www.blogger.com/profile/15000542138416955049noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-44832129511524932432016-06-30T13:15:12.386-04:002016-06-30T13:15:12.386-04:00For Social Security solvent is measured over the 7...For Social Security solvent is measured over the 75 year window. Forget raising. Completely eliminating the cap according to SSA, solves about 40-70% of that current window. CBO is less optimistic. No raising the cap does not make SS solvent again.JoeTheEconomisthttps://www.blogger.com/profile/15000542138416955049noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-71537754774521804782016-06-30T03:01:27.379-04:002016-06-30T03:01:27.379-04:00Your the one that voted to enslave your kids tomor...Your the one that voted to enslave your kids tomorrow for a handout today. That's what social security was from the beginning. Let's stop the nonsense about it ever being a good idea. It was always a fleecing, some people are just mad that the jig is up and they don't get their turn in the pyramid scheme.<br /><br />By the way, where do you think the govt gets the money to pay Dhttps://www.blogger.com/profile/07011856643664793898noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-74025091858755822272016-06-29T19:49:38.401-04:002016-06-29T19:49:38.401-04:00Yo, doc, the Supreme Court describes SS thusly in ...Yo, doc, the Supreme Court describes SS thusly in Fleming vs. Nestor (1960):<br /><br />"Social Security is not an insurance program at all. It is simply a payroll tax on one side and a welfare program on the other. Your Social Security benefits are always subject to the whim of 535 politicians in Washington."<br /><br />Do you feel cheated?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-89330873251216662622016-06-29T17:13:46.937-04:002016-06-29T17:13:46.937-04:00Social Security is the Private PROPERTY of the Wor...Social Security is the Private PROPERTY of the Workers that PAID for it.<br />Social Security is a TONTINE, a TRUST FUND.. American workers pay into it their entire lives through payroll deductions. Social Security payments are supposed to come from that fund. So why is Social Security needing an increase in the debt ceiling? Where did our money go? Of course, this is a rhetorical question. Dr. Danhttps://www.blogger.com/profile/16039614930398100066noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-81299138873721944862016-06-29T17:13:16.093-04:002016-06-29T17:13:16.093-04:00The US Government OWES $2.6TRILLION to Social Secu...The US Government OWES $2.6TRILLION to Social Security.Dr. Danhttps://www.blogger.com/profile/16039614930398100066noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-31496844019990271762016-06-29T15:06:30.304-04:002016-06-29T15:06:30.304-04:00I could be wrong but I think an IRA is a waste. Th...I could be wrong but I think an IRA is a waste. The taxes on the money coming out of them ten years down the line will erase any earlier tax benefits.Robert What?https://www.blogger.com/profile/03863449539859132763noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-38459638307860121772016-06-29T14:20:26.495-04:002016-06-29T14:20:26.495-04:00This is a true statement, Carl. Social Security wi...This is a true statement, Carl. Social Security will become just like purchasing food. The FED will continue to print more money, so you will always receive your check each month, and there will always be food to purchase in the supermarkets. However, when inflation goes-up 300% you won't be able to afford to buy anything. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-20674580289750299392016-06-29T13:19:33.597-04:002016-06-29T13:19:33.597-04:00Very funny! Now back to the real world. No asset w...Very funny! Now back to the real world. No asset will be safe as long as the government and its cronies roam the earth, but at least a nominal 401K or IRA will at least divert their attention from wherever you stash your real savings.Brian Ericksonhttps://www.blogger.com/profile/10188778202762603278noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-77382096132162530322016-06-29T13:11:39.027-04:002016-06-29T13:11:39.027-04:00Years ago I entered into contract with the manager...Years ago I entered into contract with the managers of the "Social Security" administration. <br /><br />If they fail upholding their end of the contract, they should be compelled to do so or go bankrupt and into receivership. If the administrators of the trust funds did inappropriate things with the money, such as give it to the US Federal Government, they should be put in a jail cell.Anonymoushttps://www.blogger.com/profile/13957192193924286021noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-86726891041471264992016-06-29T12:31:09.715-04:002016-06-29T12:31:09.715-04:00The fix is very easy: raise the contribution cap f...The fix is very easy: raise the contribution cap for wealthy individuals and Social Security is solvent again. QED!Doughttps://www.blogger.com/profile/13414389468133865190noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-3027255273838532952016-06-29T12:22:50.240-04:002016-06-29T12:22:50.240-04:00So, when SS fails, your money will be "safe&q...So, when SS fails, your money will be "safe" in a solo 401k or self-directed IRA? Hahahahahaha!Anonymousnoreply@blogger.com