Reply to What Would You Be Willing to Do to Save SS?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You guys are way down in the weeds. The thing is insolvent and you're arguing about mowing the lawn while the house is on fire.[/quote]

It's not insolvent. When the trust fund runs out in 2034 or so, there will still be enough money to pay 75% of benefits forever. The trust fund was an add-on created by Ronald Reagan so he could kick the can down the road by raising taxes without cutting benefits while getting credit for being a fiscal conservative.  But we should go back to what it was before, a pay-as-you-go system, just by balancing income and outflow.  And I repeat if we DO NOTHING, there will be a 25% cut in benefits, but the system will last forever.[/quote]
Well, a [b]25% cut wouldn't hurt the upper income retirees[/b]! but those who depend on SS for a significant portion if their retiree income (if not all of it) would really suffer. As it is, we have people trying to get by on $1000 a month. (Even if ones house is paid off, that's quite a struggle.)[/quote]

[i]So what's your definition of upper income retirees?  Have you checked actual contributions to social security v payouts?  ie low income pay ins get a much better return. Payments have no basis in reality.  Just like anyone earning more than 85k after retirement pays higher medicare.  And that premium becomes huge with a top add on cost of more than 450/month per individual.

It's like earned income tax credit- just money legislated to go in or out.  [/i]

[/quote]

Recently posted the above in italics.  To Wharton Grad- benefits don't relate to pay-in .  When you see what goes in and what comes out only simplistic language suffices.  Economics?  Finance?  really based on strokes of a pen and votes.[/quote]

F off, you and your buddy are ignorant blowhards. It's hard to even understand what you just wrote.

Signed, Wharton grad

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