Anonymous wrote:Leftists here think the administration will take away current social security checks?

Anonymous wrote:Leftists here think the administration will take away current social security checks?

Anonymous wrote:

Anonymous wrote:It might be a stretch to call it a Ponzi scheme, but it does have similarities, namely that it relies upon funds from the current workforce to pay for the retirees receiving SS income.
This is a problem because it relies upon an ever-increasing workforce and GDP, and that is not sustainable or desirable.

The math is pretty bad. Between my employer and I, we are putting in 12.4% of my salary up to the cap. If I were to invest that same amount into a broad index fund (set and forget) with the plan to eventually withdraw from that when I retire, I would come out way ahead compared to what I will draw in SS benefits. SS is a bad deal.

As far as raising the cap goes, how fair would that be without raising the benefit amount for those who contributed higher amounts? It wouldn’t be fair. And if we did also increase the benefit amounts to those people, then it wouldn’t solve the problem either. So I say let’s not increase the cap.

Part of my solution would be that over a years-long period, we transition/ramp from FICA deductions to self funded retirement. Give everyone something like TSP, but the (eventual) 12.4 percent should be locked up into age based index funds that cannot be accessed via loans or withdrawals, and must be paid out at retirement via monthly payments not lump sums that someone might do something stupid with. If you want to have a lump sum available, you save for that separately.

Doing so would create a temporary (though years long) gap in funding that unfortunately would have to be paid for by increasing retirement age, small reductions in SS benefits, a VAT, spending cuts, or ideally a combination of these means in order not to place the burden disproportionately on any one group. It will be painful, but less so, and eventually the problem will be solved.

This is a terrible idea because the whole point is that people don't save for retirement for a variety of reasons and we, as a society, because of what happened in the Great Depression, have decided there should be a social safety net.

Anonymous wrote:

Anonymous wrote:

Rep. Rich McCormick (R-Ga.) said Tuesday that lawmakers will ultimately face tough choices on spending in next year’s unified GOP government, suggesting cuts may be coming to social welfare programs

We’re going to have to have some hard decisions. We got to bring the Democrats in to talk about Social Security, Medicaid, Medicare. There’s hundreds of billions of dollars to be saved, and we know how to do it, we just have to have the stomach to actually take those challenges on,” McCormick told Fox Business Network’s Maria Bartiromo

https://thehill.com/policy/healthcare/5019422-republican-social-security-medicaid-medicare-welfare-cuts-trump/

This will be fun to watch because at the same time congressional republicans are cutting these benefits they will be giving tax breaks the rich. You know they will also go after the VA and veterans’ disability.

Unless the Democrats cosign those cuts, it would be political suicide for about a generation.
You need much more bipartisanship in congress to solve a problem like that.

Anonymous wrote:

Rep. Rich McCormick (R-Ga.) said Tuesday that lawmakers will ultimately face tough choices on spending in next year’s unified GOP government, suggesting cuts may be coming to social welfare programs

We’re going to have to have some hard decisions. We got to bring the Democrats in to talk about Social Security, Medicaid, Medicare. There’s hundreds of billions of dollars to be saved, and we know how to do it, we just have to have the stomach to actually take those challenges on,” McCormick told Fox Business Network’s Maria Bartiromo

https://thehill.com/policy/healthcare/5019422-republican-social-security-medicaid-medicare-welfare-cuts-trump/

This will be fun to watch because at the same time congressional republicans are cutting these benefits they will be giving tax breaks the rich. You know they will also go after the VA and veterans’ disability.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's what the MAGAs on SS, SSDI, and Veterans benefits apparently wanted them to do when they voted for them.

You can type whatever you like but no, that's not what voters want.

Oh no no no no no. Trump won the election. This information was all over the place. We spent months trying to beat this into you, and you voted for him anyway. This is absolutely what voters wanted. You don’t get to play dumb now. If you voted for Trump, this is on you. Claim it.

Anonymous wrote:Cut SS for everyone born after 1985. Cut each of those Americans a check for $10k to give them back part of what they’ve paid in. Then let them go invest their money instead of taking if 6.2% tax from our checks.

-Gen Z trump voter

Anonymous wrote:Leftists here think the administration will take away current social security checks?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Older Gen X and I've been paying for Medicare and Social Security since I was 15.

Cut these programs if that's how the country wants to go but phase it in.

That's not how the country wants to go. It's how one man wants to go. The point of our government is that it is a system of checks and balances. If the congress has anything to say about it, neither Medicare nor Social Security are going anywhere any time soon. If the Congress doesn't weigh in, well, then we have even bigger problems.

Trump has said he's not cutting them. A few in Congress have proposed it, and the unofficial, unappointed and unelected DOGE have suggested it. Posters are just getting excited in their doom-and-glooming and catastrophizing.

And roe is settled law

I can't wait to remind you of this very point when they gut the benefits you were counting on. I hope you saved other funds for retirement!

correct no one cares about roe that's a done deal, that was like 4 years a go move on

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Older Gen X and I've been paying for Medicare and Social Security since I was 15.

Cut these programs if that's how the country wants to go but phase it in.

That's not how the country wants to go. It's how one man wants to go. The point of our government is that it is a system of checks and balances. If the congress has anything to say about it, neither Medicare nor Social Security are going anywhere any time soon. If the Congress doesn't weigh in, well, then we have even bigger problems.

Trump has said he's not cutting them. A few in Congress have proposed it, and the unofficial, unappointed and unelected DOGE have suggested it. Posters are just getting excited in their doom-and-glooming and catastrophizing.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Older Gen X and I've been paying for Medicare and Social Security since I was 15.

Cut these programs if that's how the country wants to go but phase it in.

That's not how the country wants to go. It's how one man wants to go. The point of our government is that it is a system of checks and balances. If the congress has anything to say about it, neither Medicare nor Social Security are going anywhere any time soon. If the Congress doesn't weigh in, well, then we have even bigger problems.

Trump has said he's not cutting them. A few in Congress have proposed it, and the unofficial, unappointed and unelected DOGE have suggested it. Posters are just getting excited in their doom-and-glooming and catastrophizing.

Promises have been made. MAGA expects 2-3 trillion cut from the budget. You can not do that by cutting government employees. This is what Trump and every republican ran on. It will happen.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Older Gen X and I've been paying for Medicare and Social Security since I was 15.

Cut these programs if that's how the country wants to go but phase it in.

That's not how the country wants to go. It's how one man wants to go. The point of our government is that it is a system of checks and balances. If the congress has anything to say about it, neither Medicare nor Social Security are going anywhere any time soon. If the Congress doesn't weigh in, well, then we have even bigger problems.

Trump has said he's not cutting them. A few in Congress have proposed it, and the unofficial, unappointed and unelected DOGE have suggested it. Posters are just getting excited in their doom-and-glooming and catastrophizing.

Anonymous wrote:

Anonymous wrote:Older Gen X and I've been paying for Medicare and Social Security since I was 15.

Cut these programs if that's how the country wants to go but phase it in.

That's not how the country wants to go. It's how one man wants to go. The point of our government is that it is a system of checks and balances. If the congress has anything to say about it, neither Medicare nor Social Security are going anywhere any time soon. If the Congress doesn't weigh in, well, then we have even bigger problems.