Social Security to start cashing Uncle Sam's IOUs

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Beowulf said:
How much worse?
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Well, it's already to the knee, and looks like an amputation may be in order. If only they had taken time to clean and stitch the wound properly, it could have all been prevented.

I just love metaphor, don't you?
 
jillio said:
Well, it's already to the knee, and looks like an amputation may be in order. If only they had taken time to clean and stitch the wound properly, it could have all been prevented.

I just love metaphor, don't you?
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I have a morbid humour. :shock:

Happened to a few of my diabetic friends though. Keeps amputating, but the infection doesn't go away until they get to the hip. :\ Hope America doesn't have to go that far, or worse.
 
souggy said:
I have a morbid humour. :shock:

Happened to a few of my diabetic friends though. Keeps amputating, but the infection doesn't go away until they get to the hip. :\ Hope America doesn't have to go that far, or worse.
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Yep...I had a friend with diabetes who got a resistent strain of staph. He lost his leg bit by bit, beginning with the amputation of one toe. The metaphor made perfect sense to me!:giggle:
 
souggy said:
I have a morbid humour. :shock:

Happened to a few of my diabetic friends though. Keeps amputating, but the infection doesn't go away until they get to the hip. :\ Hope America doesn't have to go that far, or worse.
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Looking at history of the world, It will get worse and eventually USA like previous countries would implode.
 
Do you even know what a Ponzi Scheme is? The basic idea is that the SSA is like that. If you are working now you are paying into a system, money you WILL NEVER see. What you hope is that when you retire that the SSA will be around and that workers will paying for your retirement. As I showed before the ratio on the number of workers to retirees continues to shrink. This can only work for so long. The last one will be the suckers.
 
kokonut said:
Do you even know what a Ponzi Scheme is? The basic idea is that the SSA is like that. If you are working now you are paying into a system, money you WILL NEVER see. What you hope is that when you retire that the SSA will be around and that workers will paying for your retirement. As I showed before the ratio on the number of workers to retirees continues to shrink. This can only work for so long. The last one will be the suckers.
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well - since you're calling this a Ponzi Scheme, I have to question if you even know what it is because in Ponzi Scheme, the victims don't get paid back. Just because the ratio on the # of workers to retirees continues to shrink..... does not mean it's a Ponzi Scheme.

see your red bold print above. That is just an estimated projection. a projection that is neither right nor wrong. It means we need to re-prioritize our focus on increasing # of workers or even changing our way of life. the trend fluctuates. Maybe we are just late bloomer. but guess what? even though # of workers shrink.... the wealth continues to rise like dot-comers and young entrepreneurs. Look at these young people... they're striking gold like Facebook founder.

Ponzi Scheme? lol wtf?
 
Jiro said:
well - since you're calling this a Ponzi Scheme, I have to question if you even know what it is because in Ponzi Scheme, the victims don't get paid back. Just because the ratio on the # of workers to retirees continues to shrink..... does not mean it's a Ponzi Scheme.

see your red bold print above. That is just an estimated projection. a projection that is neither right nor wrong. It means we need to re-prioritize our focus on increasing # of workers or even changing our way of life. the trend fluctuates. Maybe we are just late bloomer. but guess what? even though # of workers shrink.... the wealth continues to rise like dot-comers and young entrepreneurs. Look at these young people... they're striking gold like Facebook founder.

Ponzi Scheme? lol wtf?
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Sorry, But I believe it is very similar to a Pozi scheme as well. A Ponzi scheme relies on future contribution rather than its ability to make a profit. That is textbook SSA. The dot comers could end up being more of a problem than a solution. Imagine if these follks decide "woohoo I have enough money for the rest of my life" Well since SSA tax is capped at 97,000 those people who get rich quick and retire do not pay as much into the system as they were expected to. Add baby boomers, smaller work force and tax credits given suspend the employer match and we have a mess
 
TXgolfer said:
Sorry, But I believe it is very similar to a Pozi scheme as well. A Ponzi scheme relies on future contribution rather than its ability to make a profit. That is textbook SSA. The dot comers could end up being more of a problem than a solution. Imagine if these follks decide "woohoo I have enough money for the rest of my life" Well since SSA tax is capped at 97,000 those people who get rich quick and retire do not pay as much into the system as they were expected to. Add baby boomers, smaller work force and tax credits given suspend the employer match and we have a mess
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then get a 401k private account. not that hard. it's all about fiscal responsibility. not government. only yourself.
 
Jiro said:
then get a 401k private account. not that hard. it's all about fiscal responsibility. not government. only yourself.
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:lol: Jiro, you should know better than to think TXGolfer was speaking of himself or that he's in a bad situation.
 
Jiro said:
then get a 401k private account. not that hard. it's all about fiscal responsibility. not government. only yourself.
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I agree...

But unfortunately workers are still forced to pay in. It would be great if people had a choice with their money
 
kokonut said:
Do you even know what a Ponzi Scheme is? The basic idea is that the SSA is like that. If you are working now you are paying into a system, money you WILL NEVER see. What you hope is that when you retire that the SSA will be around and that workers will paying for your retirement. As I showed before the ratio on the number of workers to retirees continues to shrink. This can only work for so long. The last one will be the suckers.
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If you have problem with social security so toobad and you should get 401k.

We need more immigrants to catch the worker to retiree ratio, or encourage people to born more than normal that would help the ratio but will going be little longer.
 
TXgolfer said:
I agree...

But unfortunately workers are still forced to pay in. It would be great if people had a choice with their money
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because it's what the founding fathers would want. we have a duty to help each other out otherwise.... without this Social Security - our elders and disabled people like us will be left to rot.

at the same time - the government needs to exercise fiscal responsibility as well. Bush made a valid concern but he offered no solution at all.
 
Foxrac said:
If you have problem with social security so toobad and you should get 401k.

We need more immigrants to catch the worker to retiree ratio, or encourage people to born more than normal that would help the ratio but will going be little longer.
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More like...

U.S. should spend more time defending its own border, less time getting involved in foreign affairs. The amount of money spent on proxy wars and things like the Iraq 2003 Invasion is ... Wow.

Or sponsoring sectors that doesn't promise long-term returns.
 
souggy said:
More like...

U.S. should spend more time defending its own border, less time getting involved in foreign affairs. The amount of money spent on proxy wars and things like the Iraq 2003 Invasion is ... Wow.

Or sponsoring sectors that doesn't promise long-term returns.
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that would be a great example of fiscal responsibility and "Get-Your-Priorities-Straight!"
 
Jiro said:
because it's what the founding fathers would want. we have a duty to help each other out otherwise.... without this Social Security - our elders and disabled people like us will be left to rot.

at the same time - the government needs to exercise fiscal responsibility as well. Bush made a valid concern but he offered no solution at all.
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The Founders were against government charity. Especially Jefferson. My statement is not anti SSA though. Just anti SSA the way it is being ran currently. There must be a way to earn money with the program when there are not enough people to pay in. Treasury Bonds don't cut it.

souggy said:
More like...

U.S. should spend more time defending its own border, less time getting involved in foreign affairs. The amount of money spent on proxy wars and things like the Iraq 2003 Invasion is ... Wow.

Or sponsoring sectors that doesn't promise long-term returns.
Click to expand...

Yes we spent too much on this war. But that shouldn't even affect SS. SS should never be borrowed from. Yes investing SSA technically would be the same as loaning, But not from the lender at least.



Jiro said:
that would be a great example of fiscal responsibility and "Get-Your-Priorities-Straight!"
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Yep, and stop borrow from SSA for anything
 
TXgolfer said:
The Founders were against government charity. Especially Jefferson. My statement is not anti SSA though. Just anti SSA the way it is being ran currently. There must be a way to earn money with the program when there are not enough people to pay in. Treasury Bonds don't cut it.



Yes we spent too much on this war. But that shouldn't even affect SS. SS should never be borrowed from. Yes investing SSA technically would be the same as loaning, But not from the lender at least.





Yep, and stop borrow from SSA for anything
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Do you means that US government did borrow from SSA to spend on war, education, highway expansion, renovation of federal building, FBI, etc for example?
 
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