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Social Security to go bust by 2030 (1 Viewer)

problem is right now its political suicide to try and not fix it, Old people vote and want their Social security

Can I opt out on paying in right now please?

Thanks for nothing
Reagan successful made critical SS reforms and did quite well. Perot ran on making all kinds of painful fixes to our budget and did quite well, until he exposed himself as a loon. It is more of a fear than reality. The vast majority of the people know we have budget problems and would back a strong leader with the courage to take it on.
Fortunately there are a lot of strong leaders in Washington. This problem should be licked real soon now.

 
Well let's backtrack for a moment.

Back in 2011, President Obama appointed two former Senators, Simpson and Bowles, to come up with a way to deal with not only issue but the larger issue of the overall debt and annual deficits. The two men studied the problems, and came up with a series of compromises that they hoped would be acceptable to all sides: 80% spending cuts, 20% tax hikes, ending of corporate loopholes, and gradual changes to Social Security and Medicare.

Nobody loved the solutions. But in the summer of 2011, Obama got together with Boehner and they agreed together to accept them as the basis for a "grand bargain". Each side would be willing to give what they did not like, so as to get the other side to agree. The two sides were literally within hours of resolving these problems- it would have been our government's finest achievement in decades and we would not be discussing this topic right now.

And that's when the Tea Party stepped in. Led by Grover Norquist, they refused to consider ANY tax increases- no matter that the percentage was 20-80. At first their complaint was that the tax increases came first and the spending cuts came later and they didn't trust that formula. But when Obama and the Dems came back with a willingness to move several of the spending cuts forward, the Tea Party Republicans refused to budge- it turned out they wanted NO tax increases or loophole cuts at all- now or in future years. Only spending cuts period, which the Dems would never agree to.

And so the deal fell apart. And that's why we're where we are now. So you guys can blame both sides, and "politicians" all you want. I blame the Tea Party.

 
Solutions:

1) Move to the Chile model.

or

2) First, start moving the retirement age. If you're 40 or older today, no change. In your 30s, add a year to the Social Security age. 20s, add another year. Younger than that, add one more year. Etc. People born today should have to wait until they're in their 70s before they see SS. Then, defer payments until needed. Someone retires with $5mil in the bank and can generate $60K in yearly income, their SS payment goes into a locked account until their savings and income drop to a lower level. Gov't collects the interest.
You can't keep raising the retirement age. It's fine for some office worker but the people that do manual labor will be broken down physically before 70. Also, who the #### wants to work when they are that old?

 
problem is right now its political suicide to try and not fix it, Old people vote and want their Social security

Can I opt out on paying in right now please?

Thanks for nothing
Reagan successful made critical SS reforms and did quite well. Perot ran on making all kinds of painful fixes to our budget and did quite well, until he exposed himself as a loon. It is more of a fear than reality. The vast majority of the people know we have budget problems and would back a strong leader with the courage to take it on.
So you're saying that if Obama made some overture at modifying Social Security, some of which would presumably come from either tax rate increases or removing income cap limits, the not-to-be-named group that you previously mentioned would give him the old thumbs up and get on board?

You're ridiculous.

FWIW, I agree that the reforms needed would be relatively simply but to suggest that bipartisanship is waiting there to be had is naive.

Also, you reference modest incremental changes to fix most or all of our economic issues. The reality is that SS is one of the easiest to fix. Many of our issues are not small incremental modifications away from being in the black.

 
Solutions:

1) Move to the Chile model.

or

2) First, start moving the retirement age. If you're 40 or older today, no change. In your 30s, add a year to the Social Security age. 20s, add another year. Younger than that, add one more year. Etc. People born today should have to wait until they're in their 70s before they see SS. Then, defer payments until needed. Someone retires with $5mil in the bank and can generate $60K in yearly income, their SS payment goes into a locked account until their savings and income drop to a lower level. Gov't collects the interest.
You can't keep raising the retirement age. It's fine for some office worker but the people that do manual labor will be broken down physically before 70. Also, who the #### wants to work when they are that old?
If you want to eat, you've got to work

 
Solutions:

1) Move to the Chile model.

or

2) First, start moving the retirement age. If you're 40 or older today, no change. In your 30s, add a year to the Social Security age. 20s, add another year. Younger than that, add one more year. Etc. People born today should have to wait until they're in their 70s before they see SS. Then, defer payments until needed. Someone retires with $5mil in the bank and can generate $60K in yearly income, their SS payment goes into a locked account until their savings and income drop to a lower level. Gov't collects the interest.
You can't keep raising the retirement age. It's fine for some office worker but the people that do manual labor will be broken down physically before 70. Also, who the #### wants to work when they are that old?
From a 2011 report:

SS was created in 1935. Since that time, life expectancy has increased by 26%. The SS retirement age has increased by 3%.

Unfortunately, a delay in start age is perhaps the simplest way to fix the system.

 
Solutions:

1) Move to the Chile model.

or

2) First, start moving the retirement age. If you're 40 or older today, no change. In your 30s, add a year to the Social Security age. 20s, add another year. Younger than that, add one more year. Etc. People born today should have to wait until they're in their 70s before they see SS. Then, defer payments until needed. Someone retires with $5mil in the bank and can generate $60K in yearly income, their SS payment goes into a locked account until their savings and income drop to a lower level. Gov't collects the interest.
You can't keep raising the retirement age. It's fine for some office worker but the people that do manual labor will be broken down physically before 70. Also, who the #### wants to work when they are that old?
When SS was first created half the people would be dead by 65 and only collect on it a few years. Now most people make it to 65 and live for many years after. I've posted the specifics and I'll try to find it.

If your job is manual labor you can still get a job that easier on your body from 65-70. If you can't then that's what disability is for.

 
Solutions:

1) Move to the Chile model.

or

2) First, start moving the retirement age. If you're 40 or older today, no change. In your 30s, add a year to the Social Security age. 20s, add another year. Younger than that, add one more year. Etc. People born today should have to wait until they're in their 70s before they see SS. Then, defer payments until needed. Someone retires with $5mil in the bank and can generate $60K in yearly income, their SS payment goes into a locked account until their savings and income drop to a lower level. Gov't collects the interest.
You can't keep raising the retirement age. It's fine for some office worker but the people that do manual labor will be broken down physically before 70. Also, who the #### wants to work when they are that old?
When SS was first created half the people would be dead by 65 and only collect on it a few years. Now most people make it to 65 and live for many years after. I've posted the specifics and I'll try to find it.

If your job is manual labor you can still get a job that easier on your body from 65-70. If you can't then that's what disability is for.
Disability SS is running out faster. 1st you have to fix the system of these leeches collecting when they have a 'permanent' backache.

 
problem is right now its political suicide to try and not fix it, Old people vote and want their Social security

Can I opt out on paying in right now please?

Thanks for nothing
Reagan successful made critical SS reforms and did quite well. Perot ran on making all kinds of painful fixes to our budget and did quite well, until he exposed himself as a loon. It is more of a fear than reality. The vast majority of the people know we have budget problems and would back a strong leader with the courage to take it on.
So you're saying that if Obama made some overture at modifying Social Security, some of which would presumably come from either tax rate increases or removing income cap limits, the not-to-be-named group that you previously mentioned would give him the old thumbs up and get on board?

You're ridiculous.

FWIW, I agree that the reforms needed would be relatively simply but to suggest that bipartisanship is waiting there to be had is naive.

Also, you reference modest incremental changes to fix most or all of our economic issues. The reality is that SS is one of the easiest to fix. Many of our issues are not small incremental modifications away from being in the black.
Just FYI, it is not just the tea party who fought against it, it is pelosi and the democrats who oppose the reforms SS too. It will take leadership greater than Obama and Bohner to get it done. Neither has the leadership ability or the will to fight on this issue.

 
The bottom line is that even if it runs out, it will still be paid out thru borrowing. There simply is no other option.

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.

 
Well let's backtrack for a moment.

Back in 2011, President Obama appointed two former Senators, Simpson and Bowles, to come up with a way to deal with not only issue but the larger issue of the overall debt and annual deficits. The two men studied the problems, and came up with a series of compromises that they hoped would be acceptable to all sides: 80% spending cuts, 20% tax hikes, ending of corporate loopholes, and gradual changes to Social Security and Medicare.

Nobody loved the solutions. But in the summer of 2011, Obama got together with Boehner and they agreed together to accept them as the basis for a "grand bargain". Each side would be willing to give what they did not like, so as to get the other side to agree. The two sides were literally within hours of resolving these problems- it would have been our government's finest achievement in decades and we would not be discussing this topic right now.

And that's when the Tea Party stepped in. Led by Grover Norquist, they refused to consider ANY tax increases- no matter that the percentage was 20-80. At first their complaint was that the tax increases came first and the spending cuts came later and they didn't trust that formula. But when Obama and the Dems came back with a willingness to move several of the spending cuts forward, the Tea Party Republicans refused to budge- it turned out they wanted NO tax increases or loophole cuts at all- now or in future years. Only spending cuts period, which the Dems would never agree to.

And so the deal fell apart. And that's why we're where we are now. So you guys can blame both sides, and "politicians" all you want. I blame the Tea Party.
:lol:

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
As an FYI, Ohio teachers don't pay into SS. Not sure why they don't have to but they also can't collect anything so there are people that don't pay into it.

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
You're not paying into it as an investment for your future. You're payments are for the elderly now who have been paying their whole working lives for those who came before them.

 
I blame the Tea Party.
Your inability to see attribute any of the problem to your fearless leader never ceases to amaze me. Thank you for parroting the MSNBC version of history.
Why don't you be specific and tell me which part I got wrong?
It is a complete whitewash one-sided version of events. There was a lot of opposition from the Democratic left too. Obama has been all over the place on this issue too depending on who he is talking too. Sometimes he pushes forward, but then he backs off easily. The truth is not as simple as you like to package it in your little anti-tea party rhetoric which you are obsessed with.

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
It's a tax. You can't opt out of paying taxes.
You can opt out of it for religious reasons.

Also many state employees with state run pensions are allowed to opt out. Missouri teachers fall into this.

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
It's a tax. You can't opt out of paying taxes.
You can opt out of it for religious reasons.Also many state employees with state run pensions are allowed to opt out. Missouri teachers fall into this.
You can opt out of paying federal taxes?

What religion can do this? I might need to convert.

 
Solutions:

1) Move to the Chile model.

or

2) First, start moving the retirement age. If you're 40 or older today, no change. In your 30s, add a year to the Social Security age. 20s, add another year. Younger than that, add one more year. Etc. People born today should have to wait until they're in their 70s before they see SS. Then, defer payments until needed. Someone retires with $5mil in the bank and can generate $60K in yearly income, their SS payment goes into a locked account until their savings and income drop to a lower level. Gov't collects the interest.
So no real payout changes for the next 25+ years? We don't have that long, apparently. We only have 16 years (or 3.5 more Presidential elections).

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
You're not paying into it as an investment for your future. You're payments are for the elderly now who have been paying their whole working lives for those who came before them.
So the people who want don't want to collect, why can't they opt out? The people who would like to continue can contribute to the elderly now. I'm sure there will be a deficit, but the government should make up for that. After fixing one cycle of this, the problem should alleviate itself? I don't view SS as a future benefit, more as a liability now that will never have any benefit later. It is basically a tax to help others and not myself.

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
It's a tax. You can't opt out of paying taxes.
You can opt out of it for religious reasons.Also many state employees with state run pensions are allowed to opt out. Missouri teachers fall into this.
You can opt out of paying federal taxes?

What religion can do this? I might need to convert.
Pretty sure your income has to be from religion. Like pastors can opt out. I don't think you can opt out just because you are a religous person. I may be wrong though.

 
I blame the Tea Party.
Your inability to see attribute any of the problem to your fearless leader never ceases to amaze me. Thank you for parroting the MSNBC version of history.
Why don't you be specific and tell me which part I got wrong?
It is a complete whitewash one-sided version of events. There was a lot of opposition from the Democratic left too. Obama has been all over the place on this issue too depending on who he is talking too. Sometimes he pushes forward, but then he backs off easily. The truth is not as simple as you like to package it in your little anti-tea party rhetoric which you are obsessed with.
Yes, the Dems didn't like it either. But they were, under pressure from Obama, willing to concede in 2011.

I did not get this from MSNBC. I have now read 3 separate books on this subject- only one of them from a partisan source. According to all three accounts, it was the Tea Party who pressured John Boehner to walk away from the negotiations on the verge of getting them done. Grover Norquist publicly bragged about it. That is what happened. Sorry if it's not what you want to hear.

 
If you're aged 36-42 right now you're a part of the least populous age band in america. There's way more Millenials. GIMME THEM TAX DOLLAS, KIDS, KTHNX

How The Millennials May Save America
Of course, for this strategy to work we need most of the boomers dead by the time we retire. Let's get poisoning, guys.
We also need the Millennials to stop being a bunch of whiny #####es.
They don't have the right to be upset about SS being totally different for them than it was for their parents? They don't have the right to be upset that they are being handed trillions of dollars of debt by their parent's generation? They don't have the right to be upset about the ACA which drastically changes/increases pricing rules for people their age?

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
It's a tax. You can't opt out of paying taxes.
You can opt out of it for religious reasons.Also many state employees with state run pensions are allowed to opt out. Missouri teachers fall into this.
You can opt out of paying federal taxes?

What religion can do this? I might need to convert.
Pretty sure your income has to be from religion. Like pastors can opt out. I don't think you can opt out just because you are a religous person. I may be wrong though.
The Amish do not pay Social Security.

 
If you're aged 36-42 right now you're a part of the least populous age band in america. There's way more Millenials. GIMME THEM TAX DOLLAS, KIDS, KTHNX

How The Millennials May Save America
Of course, for this strategy to work we need most of the boomers dead by the time we retire. Let's get poisoning, guys.
We also need the Millennials to stop being a bunch of whiny #####es.
This is bull####.... I'm being strong armed into paying something that has zero benefit to me. I'm simply in a boat that says "#### this, I want out, don't pay me later, I won't pay you now."

 
If your job is manual labor you can still get a job that easier on your body from 65-70. If you can't then that's what disability is for.
Most disability benefits, including SS disability I believe, stop at age 65.

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
As an FYI, Ohio teachers don't pay into SS. Not sure why they don't have to but they also can't collect anything so there are people that don't pay into it.
I have a friend who is a Rabbi who has the option to opt out of it for religious reasons. She has no reason to wan to opt out for religious reasons, but she'd like to opt out for financial ones. Quite the moral dilemma.

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
You're not paying into it as an investment for your future. You're payments are for the elderly now who have been paying their whole working lives for those who came before them.
So the people who want don't want to collect, why can't they opt out? The people who would like to continue can contribute to the elderly now. I'm sure there will be a deficit, but the government should make up for that. After fixing one cycle of this, the problem should alleviate itself? I don't view SS as a future benefit, more as a liability now that will never have any benefit later. It is basically a tax to help others and not myself.
No offense, but this would be a massive failure.

Sure, some responsible people would opt out. But most people that would opt-out are the morons who still wouldn't bother to save anything for their own retirement. And I know the easy answer to that is to just let them starve but that would be a completely untenable approach for any politician or our country as a whole. Those dumb people would still end up getting sustenance from the public and we would be in an even worse spot than before.

 
If you're aged 36-42 right now you're a part of the least populous age band in america. There's way more Millenials. GIMME THEM TAX DOLLAS, KIDS, KTHNX

How The Millennials May Save America
Of course, for this strategy to work we need most of the boomers dead by the time we retire. Let's get poisoning, guys.
We also need the Millennials to stop being a bunch of whiny #####es.
They don't have the right to be upset about SS being totally different for them than it was for their parents? They don't have the right to be upset that they are being handed trillions of dollars of debt by their parent's generation? They don't have the right to be upset about the ACA which drastically changes/increases pricing rules for people their age?
Who said they can't be upset? Just saying that in order for this "strategy" to work, Millennials are going to have to suck it up. Not saying I agree with it.

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
It's a tax. You can't opt out of paying taxes.
You can opt out of it for religious reasons.Also many state employees with state run pensions are allowed to opt out. Missouri teachers fall into this.
You can opt out of paying federal taxes?

What religion can do this? I might need to convert.
I think he's talking about opting out of SS only, not all the other stuff.

 
If you're aged 36-42 right now you're a part of the least populous age band in america. There's way more Millenials. GIMME THEM TAX DOLLAS, KIDS, KTHNX

How The Millennials May Save America
Of course, for this strategy to work we need most of the boomers dead by the time we retire. Let's get poisoning, guys.
We also need the Millennials to stop being a bunch of whiny #####es.
This is bull####.... I'm being strong armed into paying something that has zero benefit to me. I'm simply in a boat that says "#### this, I want out, don't pay me later, I won't pay you now."
There are a string of Caribbean and Mid-East countries who don't have income taxes. Go live there.

 
Of course, for this strategy to work we need most of the boomers dead by the time we retire. Let's get poisoning, guys.

If you're aged 36-42 right now you're a part of the least populous age band in america. There's way more Millenials. GIMME THEM TAX DOLLAS, KIDS, KTHNX

How The Millennials May Save America
We also need the Millennials to stop being a bunch of whiny #####es.
This is bull####.... I'm being strong armed into paying something that has zero benefit to me. I'm simply in a boat that says "#### this, I want out, don't pay me later, I won't pay you now."
:lmao:

Welcome to most government programs (although zero benefit isn't accurate).

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
You're not paying into it as an investment for your future. You're payments are for the elderly now who have been paying their whole working lives for those who came before them.
So the people who want don't want to collect, why can't they opt out? The people who would like to continue can contribute to the elderly now. I'm sure there will be a deficit, but the government should make up for that. After fixing one cycle of this, the problem should alleviate itself? I don't view SS as a future benefit, more as a liability now that will never have any benefit later. It is basically a tax to help others and not myself.
No offense, but this would be a massive failure.

Sure, some responsible people would opt out. But most people that would opt-out are the morons who still wouldn't bother to save anything for their own retirement. And I know the easy answer to that is to just let them starve but that would be a completely untenable approach for any politician or our country as a whole. Those dumb people would still end up getting sustenance from the public and we would be in an even worse spot than before.
Which is why you actually have to have someone enforcing the current policy. There are way too many irresponsible hammerheads that would cry poor after they spent all the $ they should have saved.

 
If you're aged 36-42 right now you're a part of the least populous age band in america. There's way more Millenials. GIMME THEM TAX DOLLAS, KIDS, KTHNX

How The Millennials May Save America
Of course, for this strategy to work we need most of the boomers dead by the time we retire. Let's get poisoning, guys.
We also need the Millennials to stop being a bunch of whiny #####es.
They don't have the right to be upset about SS being totally different for them than it was for their parents? They don't have the right to be upset that they are being handed trillions of dollars of debt by their parent's generation? They don't have the right to be upset about the ACA which drastically changes/increases pricing rules for people their age?
Who said they can't be upset? Just saying that in order for this "strategy" to work, Millennials are going to have to suck it up. Not saying I agree with it.
So they have to fix what someone else broke and handed to them, and have to suck it up?

 
Serious question from someone who doesn't follow much politics:

Why can't I just opt out of Social Security? I don't want to receive SS $$ when I'm eligible, so I don't want to contribute now.
You're not paying into it as an investment for your future. You're payments are for the elderly now who have been paying their whole working lives for those who came before them.
So the people who want don't want to collect, why can't they opt out? The people who would like to continue can contribute to the elderly now. I'm sure there will be a deficit, but the government should make up for that. After fixing one cycle of this, the problem should alleviate itself? I don't view SS as a future benefit, more as a liability now that will never have any benefit later. It is basically a tax to help others and not myself.
No offense, but this would be a massive failure.

Sure, some responsible people would opt out. But most people that would opt-out are the morons who still wouldn't bother to save anything for their own retirement. And I know the easy answer to that is to just let them starve but that would be a completely untenable approach for any politician or our country as a whole. Those dumb people would still end up getting sustenance from the public and we would be in an even worse spot than before.
Which is why you actually have to have someone enforcing the current policy. There are way too many irresponsible hammerheads that would cry poor after they spent all the $ they should have saved.
Put me in the boat that tells these irresponsible morons to go #### themselves and live under a highway.

 
Anyhow, we're not gonna solve it. Just add it to the damned debt. So in 2030, the debt will be 47 trillion instead of 42 trillion. Big ####### deal.

 
Anyhow, we're not gonna solve it. Just add it to the damned debt. So in 2030, the debt will be 47 trillion instead of 42 trillion. Big ####### deal.
That's exactly what is going to happen. There will be an initial shock when announced. A market selloff so the rich can get richer, and then it will fade into old news and business as usual.

Seriously, what is the difference between owing 50 T or owing 16 T? Absolutely nothing.

 
If you're aged 36-42 right now you're a part of the least populous age band in america. There's way more Millenials. GIMME THEM TAX DOLLAS, KIDS, KTHNX

How The Millennials May Save America
Of course, for this strategy to work we need most of the boomers dead by the time we retire. Let's get poisoning, guys.
We also need the Millennials to stop being a bunch of whiny #####es.
They don't have the right to be upset about SS being totally different for them than it was for their parents? They don't have the right to be upset that they are being handed trillions of dollars of debt by their parent's generation? They don't have the right to be upset about the ACA which drastically changes/increases pricing rules for people their age?
Who said they can't be upset? Just saying that in order for this "strategy" to work, Millennials are going to have to suck it up. Not saying I agree with it.
So they have to fix what someone else broke and handed to them, and have to suck it up?
If they're going to "save" us, yes. Did you even read the article?

 

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