Are you worried about your parents losing social security?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OMG the ignorance. It is not a ponzi scheme as it is government regulated by payroll and has an insured input of $$ as long as it is administered well (and yes that does include rooting out fraud- but last I heard, firing employees won't help with any of that).

SS has a huge legacy of trust associated with it. To remove the trust that those who contributed to it and planned for it and now rely on it is truly 'banana republic'

Agree it's not a ponzi scheme, but it was never marketed correctly to the general public (at least not in recent memory).

Your contributions don't pay for your SS...your contributions pay for current retirees and the system anticipated each generation of workers being larger than the current generation of retirees and much lower life expectancy.

Think about it...how much $$$s did the first SS recipients contribute to the system? If you answered $0, you would be correct.

I was listening to a radio story, and unless something changes (raise the minimum retirement age, raise the amount of $$$s that can be taxed, raise the tax rate, etc.) then SS benefits will automatically have to be cut by like 21% in 6-7 years based on how the system currently works.

You do not sound informed. All they have to do is remove the cap.

You sound like a dipshit. That was one of the options but it requires a change in the law to do so.

Absent that, SS payments will be automatically cut 21%.

They don't get cut "automatically." Changes will have to be made and voted on.

That's funny considering you're referring to someone who waves a chainsaw around and doesn't ask for congressional input.

[Anonymous]

Anonymous wrote:Feel like the eldercare forum is suspended in time without a lot of folks here realizing that 3 pillars of elder care - Medicare, Medicaid, Social Security - are not long for this world. Forcing every person eligible to receive THEIR Social Security to have to drive hours to reach an office where they cannot get an appointment is maddening. Allowing private equity to get their hands on this money because it is "not doing anything for the economy" is maddening. Thinking that paying $120K/year for memory care out of most Americans' pocket is maddening.

Yes. Basically this.

Do people here understand what the absence of these programs will do??