Social security, baby boomers & millennials.
#6246628
05/24/18 05:09 AM
05/24/18 05:09 AM
|
Joined: Apr 2013
Posts: 1,759 east TN, USA
harleydparts
OP
trapper
|
OP
trapper
Joined: Apr 2013
Posts: 1,759
east TN, USA
|
Social security- the way I understand it is that between the monthly benefits and medical benefits you go on the public dole after 5 1/2 years. The amount you've paid into it is easily discovered thru the social security website. Do I agree with SS ? Nope. 401k's do a lot better. Forced excepted Socialism is how I look at social security. Baby boomers - I guess I'm one, born in 1959. Gonna work till I'm 73 1/3 , that's my choice. That will give me 50 years trailer trucking. BUT- I could retire at 62 1/2 and collect a bunch of money I never paid into the system. Do I agree with the system? Heck no! My 401k does a lot better than 0% interest. I saved and invested to retire, don't want nothing I didn't earn. Millennials- are you kidding me? How many of you have kids born on or after 1982 that are not lazy worthless so & so's? Speak up, let's hear about your worthless kids. My grandfather- kids of today. My father- kids of today. Me- kids of , oops, my kids picked ocra & cucumbers for extra money after school as did most kids around here. My grandfather's kids fought in Korea, my father's kids threw hay for $5 a day & lunch from can't see till can't see. And see the above for my kids. What we call millennials are a small percentage of the folks born in the era we have designated 'millennials'. I'll not except it.
Not as bad as I could be, not as good as I should be.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246644
05/24/18 06:02 AM
05/24/18 06:02 AM
|
Joined: Dec 2006
Posts: 21,716 Sandhills Nebraska
Gary Benson
trapper
|
trapper
Joined: Dec 2006
Posts: 21,716
Sandhills Nebraska
|
You're really cool. That horse was beaten in the original thread a week or two ago.
Last edited by Gary Benson; 05/24/18 06:03 AM.
Life ain't supposed to be easy.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246729
05/24/18 09:08 AM
05/24/18 09:08 AM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
I agree with Grit. It is more like Communism. State ownership of a retirement and disability program.
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: GritGuy]
#6246738
05/24/18 09:14 AM
05/24/18 09:14 AM
|
Joined: Dec 2016
Posts: 3,660 Milwaukee, Wisconsin
Tweed
trapper
|
trapper
Joined: Dec 2016
Posts: 3,660
Milwaukee, Wisconsin
|
Good for you, can I have all your earned dollars you put into SS any way seeing as your not going to use it ? Just how do you figure you don't pay into the program any way ?
I don't see taking something I've been paying in to for many years as accepted socialism, I see it as finally being able to receive what I was forced into when I started working. Isn't what you're receiving being paid by current wage earners? And what you earned was spent by the previous generation?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246742
05/24/18 09:27 AM
05/24/18 09:27 AM
|
Joined: Jan 2014
Posts: 17,740 Central Oregon
AntiGov
trapper
|
trapper
Joined: Jan 2014
Posts: 17,740
Central Oregon
|
It's a massive Ponzi Scheme
And most receive way more than they contributed
Fail it will
Report a post club - Non member
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Rat Masterson]
#6246745
05/24/18 09:29 AM
05/24/18 09:29 AM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
I'll be the devils advocate here and question how many retirees would have anything saved if left to their own devices. How many have 401Ks and or Roth IRAs and or savings accounts. That will be your answer.
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246753
05/24/18 09:43 AM
05/24/18 09:43 AM
|
CGilliam
Unregistered
|
CGilliam
Unregistered
|
If there was no SS, wouldn't people actually realize that they gotta save now or starve later? Personally I invest every spare dollar into my taxable stock account. I have no desire to work when I'm old, but if other people don't have the discipline to take care of their own retirement then (This word is unacceptable on Trapperman) on them. You make your bed you gotta lay in it.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246767
05/24/18 10:01 AM
05/24/18 10:01 AM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
So, I keep reading only 1/3 of Americans save money in a 401K. Sounds bad, but I'm guessing this includes retired, under 18, non working, pensioned, etc. Do young workers ( say under 35) really need to start saving?
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246768
05/24/18 10:04 AM
05/24/18 10:04 AM
|
Joined: Jul 2016
Posts: 3,141 Michigan
Ditchdiver
trapper
|
trapper
Joined: Jul 2016
Posts: 3,141
Michigan
|
I'm a millennial, 32 years old, born in 85. I've been married just over 12 years, have two sons- 10 and 12 and my daughter will be born any day. I have a 401k that I put 16% into and my company matches 5%. I also have a pension, which, when I can retire at 65 will get me about $3,200.00 per month. I've worked since I was 11 years old (no, not full time but I did what I could while in school). I pay my mortgage, keep the lights on, have food in the fridge and take care of my wife and kids. All "millennials" are not the same. Oh, and I know how to change a light bulb......
When life gets me down..... you know hunting/trapping season is closed.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246770
05/24/18 10:06 AM
05/24/18 10:06 AM
|
Joined: Jul 2016
Posts: 3,141 Michigan
Ditchdiver
trapper
|
trapper
Joined: Jul 2016
Posts: 3,141
Michigan
|
Yes, Dirt! Never to early to start saving.
When life gets me down..... you know hunting/trapping season is closed.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246776
05/24/18 10:17 AM
05/24/18 10:17 AM
|
Joined: Mar 2012
Posts: 4,324 AK
FairbanksLS
trapper
|
trapper
Joined: Mar 2012
Posts: 4,324
AK
|
Savings is not encouraged, look at interest rates. Investing in the stock market is the only viable way to have a chance at a retirement today.
That piece of paradise you own is rented from the government.
We are manipulated from birth to death.
Salmon fishing starts soon.
formerly posting as white dog
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Dirt]
#6246786
05/24/18 10:35 AM
05/24/18 10:35 AM
|
Joined: Dec 2016
Posts: 3,660 Milwaukee, Wisconsin
Tweed
trapper
|
trapper
Joined: Dec 2016
Posts: 3,660
Milwaukee, Wisconsin
|
So, I keep reading only 1/3 of Americans save money in a 401K. Sounds bad, but I'm guessing this includes retired, under 18, non working, pensioned, etc. Generally it is a 1/3 of Americans of working age that they are polling. Do young workers ( say under 35) really need to start saving? Absolutely! From the day you start earning you should start saving.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Ditchdiver]
#6246790
05/24/18 10:36 AM
05/24/18 10:36 AM
|
Joined: Dec 2016
Posts: 3,660 Milwaukee, Wisconsin
Tweed
trapper
|
trapper
Joined: Dec 2016
Posts: 3,660
Milwaukee, Wisconsin
|
I'm a millennial, 32 years old, born in 85. I've been married just over 12 years, have two sons- 10 and 12 and my daughter will be born any day. I have a 401k that I put 16% into and my company matches 5%. I also have a pension, which, when I can retire at 65 will get me about $3,200.00 per month. I've worked since I was 11 years old (no, not full time but I did what I could while in school). I pay my mortgage, keep the lights on, have food in the fridge and take care of my wife and kids. All "millennials" are not the same. Oh, and I know how to change a light bulb...... You're living the dream man, if you got a company matched 401k (especially at that rate) AND a pension.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246796
05/24/18 10:49 AM
05/24/18 10:49 AM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
I'm not saying it is a bad idea to save money for a retirement you may never see when you are under 35, but do you NEED to?
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Dirt]
#6246811
05/24/18 11:12 AM
05/24/18 11:12 AM
|
Joined: Dec 2016
Posts: 3,660 Milwaukee, Wisconsin
Tweed
trapper
|
trapper
Joined: Dec 2016
Posts: 3,660
Milwaukee, Wisconsin
|
I'm not saying it is a bad idea to save money for a retirement you may never see when you are under 35, but do you NEED to? No....I guess you never NEED to save money...whether your 16 or 60 or 90. When you run out you can either rely on family or go die under a bridge or tree.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246877
05/24/18 01:13 PM
05/24/18 01:13 PM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
You are missing the point of my question. Do you have to save for retirement your whole working life to have an adequate retirement income? If you start at 35 and retire at 65, IMO. you should be able to save all you most likely will need. IMO you should enjoy some of that money doing things you won't be able to do when you are 65 and older.
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Dirt]
#6246882
05/24/18 01:23 PM
05/24/18 01:23 PM
|
Joined: Dec 2016
Posts: 3,660 Milwaukee, Wisconsin
Tweed
trapper
|
trapper
Joined: Dec 2016
Posts: 3,660
Milwaukee, Wisconsin
|
You are missing the point of my question. Do you have to save for retirement your whole working life to have an adequate retirement income? If you start at 35 and retire at 65, IMO. you should be able to save all you most likely will need. IMO you should enjoy some of that money doing things you won't be able to do when you are 65 and older. I got your point. Maybe I didn't elaborate enough in mine. Many people live perfectly happy simple lives in retirement so they won't need as much. Others will want to finally do the things they never had time for which for some can be pricey. It all depends on what that individual wants out of their retirement.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246884
05/24/18 01:26 PM
05/24/18 01:26 PM
|
Joined: Jan 2018
Posts: 4,576 MN
Donnersurvivor
trapper
|
trapper
Joined: Jan 2018
Posts: 4,576
MN
|
Boomers have been by far the largest voting block for years, they have dictated who is elected and the general direction of the country, they elected people who made poor investments with their social security and most of them will extract far more from it than they paid in, now Millennials are becoming the larger voting block and generation Z is about to start voting, the country is 20+ Trillion in debt and boomers expect Millennials and generation Z to keep working and paying into social security that they promised to themselves on the backs of the future. Do not be surprised if in 5-10 years from now Millennials and generation Z vote in politicians who are not friendly to social security or other benefits the Boomers promised themselves and never funded.
Last edited by Donnersurvivor; 05/24/18 01:28 PM.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246893
05/24/18 01:43 PM
05/24/18 01:43 PM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
FYI " Did you know 20% of men die before retirement age?"
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Donnersurvivor]
#6246894
05/24/18 01:43 PM
05/24/18 01:43 PM
|
Joined: Mar 2012
Posts: 4,324 AK
FairbanksLS
trapper
|
trapper
Joined: Mar 2012
Posts: 4,324
AK
|
Boomers have been by far the largest voting block for years, they have dictated who is elected and the general direction of the country, they elected people who made poor investments with their social security and most of them will extract far more from it than they paid in, now Millennials are becoming the larger voting block and generation Z is about to start voting, the country is 20+ Trillion in debt and boomers expect Millennials and generation Z to keep working and paying into social security that they promised to themselves on the backs of the future. Do not be surprised if in 5-10 years from now Millennials and generation Z vote in politicians who are not friendly to social security or other benefits the Boomers promised themselves and never funded. No disagreement from this Boomer.
formerly posting as white dog
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Donnersurvivor]
#6246908
05/24/18 01:56 PM
05/24/18 01:56 PM
|
Joined: Nov 2010
Posts: 1,418 USA-WI
Kre
trapper
|
trapper
Joined: Nov 2010
Posts: 1,418
USA-WI
|
the country is 20+ Trillion in debt and boomers expect Millennials and generation Z to keep working and paying into social security that they promised to themselves on the backs of the future. The millenials need to keep in mind that 10 trillion of that was done in 8 years. To blame that on the boomers is overly simplistic and short-sighted. On top of that, the votes have been out there to trump the boomers for years...but the young are too lazy to go to the polls. So, I guess the millenials can try to take the punitive approach, but I suspect they'll be too lazy.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246912
05/24/18 02:01 PM
05/24/18 02:01 PM
|
Joined: Mar 2012
Posts: 4,324 AK
FairbanksLS
trapper
|
trapper
Joined: Mar 2012
Posts: 4,324
AK
|
It's not punitive to expect programs that cannot be sustained to be reduced.
formerly posting as white dog
|
|
|
Re: Social security, baby boomers & millennials.
[Re: FairbanksLS]
#6246918
05/24/18 02:18 PM
05/24/18 02:18 PM
|
Joined: Nov 2010
Posts: 1,418 USA-WI
Kre
trapper
|
trapper
Joined: Nov 2010
Posts: 1,418
USA-WI
|
It's not punitive to expect programs that cannot be sustained to be reduced. I agree. But the post I was replying to sounds a bit punitive. Cutting benefits to retired folks is never going to be a popular thing, regardless of who created the problem. So, I'll believe it when I see it.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Kre]
#6246947
05/24/18 02:50 PM
05/24/18 02:50 PM
|
Joined: May 2010
Posts: 10,474 mn north of blakely
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,474
mn north of blakely
|
the country is 20+ Trillion in debt and boomers expect Millennials and generation Z to keep working and paying into social security that they promised to themselves on the backs of the future. The millenials need to keep in mind that 10 trillion of that was done in 8 years. To blame that on the boomers is overly simplistic and short-sighted. On top of that, the votes have been out there to trump the boomers for years...but the young are too lazy to go to the polls. So, I guess the millenials can try to take the punitive approach, but I suspect they'll be too lazy. It's almost entirely the boomers fault, followed by the greatest generation and generation x, which is me. We are experiencing the symptoms of a debt backed economy. It's going to get worse and nothing can stop it.
Last edited by Steven 49er; 05/24/18 02:52 PM.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: FlyinFinn]
#6246950
05/24/18 02:55 PM
05/24/18 02:55 PM
|
Joined: May 2010
Posts: 10,474 mn north of blakely
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,474
mn north of blakely
|
Math isn't political, punitive and doesn't care what you do when you retire. The baby boomers and gen xers had best hope the mellinials don't wake up one day and realize that we borrowed against the next generations future to create the wealth we enjoy today. Then the math is going to get real punitive.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Kre]
#6246953
05/24/18 02:59 PM
05/24/18 02:59 PM
|
Joined: Jan 2018
Posts: 4,576 MN
Donnersurvivor
trapper
|
trapper
Joined: Jan 2018
Posts: 4,576
MN
|
the country is 20+ Trillion in debt and boomers expect Millennials and generation Z to keep working and paying into social security that they promised to themselves on the backs of the future. The millenials need to keep in mind that 10 trillion of that was done in 8 years. To blame that on the boomers is overly simplistic and short-sighted. On top of that, the votes have been out there to trump the boomers for years...but the young are too lazy to go to the polls. So, I guess the millenials can try to take the punitive approach, but I suspect they'll be too lazy. Nearly 50% of boomers voted for Obama, dont act like it was millenials alone that hung up that 10 trillion.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246962
05/24/18 03:07 PM
05/24/18 03:07 PM
|
Joined: Dec 2016
Posts: 3,660 Milwaukee, Wisconsin
Tweed
trapper
|
trapper
Joined: Dec 2016
Posts: 3,660
Milwaukee, Wisconsin
|
And the boomers think Millennials and Gen Z are liberal? Boomers were trying to over throw the government in favor of communism and committing acts of terrorism.
Last edited by Tweed; 05/24/18 03:07 PM.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246968
05/24/18 03:14 PM
05/24/18 03:14 PM
|
Joined: Feb 2010
Posts: 19,719 pa
hippie
trapper
|
trapper
Joined: Feb 2010
Posts: 19,719
pa
|
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Tweed]
#6246973
05/24/18 03:21 PM
05/24/18 03:21 PM
|
Joined: Nov 2015
Posts: 16,951 OH
Catch22
trapper
|
trapper
Joined: Nov 2015
Posts: 16,951
OH
|
And the boomers think Millennials and Gen Z are liberal? Boomers were trying to over throw the government in favor of communism and committing acts of terrorism. Yes
I wonder if tap dancers walk into a room, look at the floor, and think, I'd tap that. I wonder about things.....
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Catch22]
#6246980
05/24/18 03:35 PM
05/24/18 03:35 PM
|
Joined: Feb 2010
Posts: 19,719 pa
hippie
trapper
|
trapper
Joined: Feb 2010
Posts: 19,719
pa
|
And the boomers think Millennials and Gen Z are liberal? Boomers were trying to over throw the government in favor of communism and committing acts of terrorism. Yes I'll say no...we know it! Just because we knew how to have fun, doesn't mean we were stupid enough to vote Democrat.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6246983
05/24/18 03:41 PM
05/24/18 03:41 PM
|
Joined: Dec 2010
Posts: 34,874 Central, SD
Law Dog
trapper
|
trapper
Joined: Dec 2010
Posts: 34,874
Central, SD
|
Problem is if people don't prepare for old age and they can't let them die in the street then collecting for the future seems like a smart plan. I can see the ones with the 401K plans being taxed to pay for the ones that did not plan for the future through bad luck or bad choices. Heck your already paying for dependents you will never meet every day.
The collection rate for SS is a joke (very outdated) but political suicide for anyone to take on, I got a $25 raise last year not sure when there was any raises before that.
Just don't see the advantage of a bunch of seniors being on welfare/aid/EBT that paid zero into anything when SS could offset that in many cases.
Was born in a Big City Will die in the Country OK with that!
Jerry Herbst
|
|
|
Re: Social security, baby boomers & millennials.
[Re: hippie]
#6246987
05/24/18 03:47 PM
05/24/18 03:47 PM
|
Joined: Mar 2012
Posts: 4,324 AK
FairbanksLS
trapper
|
trapper
Joined: Mar 2012
Posts: 4,324
AK
|
[quote=Catch22][quote=Tweed]And the boomers think Millennials and Gen Z are liberal? Boomers were trying to over throw the government in favor of communism and committing acts of terrorism. I'll say no...we know it! Just because we knew how to have fun, doesn't mean we were stupid enough to vote Democrat. Nice necklace hippie.
Last edited by gray dog; 05/24/18 03:52 PM.
formerly posting as white dog
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Law Dog]
#6246991
05/24/18 03:49 PM
05/24/18 03:49 PM
|
Joined: Jan 2018
Posts: 4,576 MN
Donnersurvivor
trapper
|
trapper
Joined: Jan 2018
Posts: 4,576
MN
|
Just don't see the advantage of a bunch of seniors being on welfare/aid/EBT that paid zero into anything when SS could offset that in many cases. Work unless you physically/mentally cannot work, if you did not save you do not retire. For those who physically or mentally cannot work SS disability should come into play.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Donnersurvivor]
#6247004
05/24/18 04:04 PM
05/24/18 04:04 PM
|
Joined: Dec 2010
Posts: 34,874 Central, SD
Law Dog
trapper
|
trapper
Joined: Dec 2010
Posts: 34,874
Central, SD
|
Just don't see the advantage of a bunch of seniors being on welfare/aid/EBT that paid zero into anything when SS could offset that in many cases. Work unless you physically/mentally cannot work, if you did not save you do not retire. For those who physically or mentally cannot work SS disability should come into play. That would be SSI that is retirement for many that don't need it and they can start to collect the Max at any age they qualify for it.
Was born in a Big City Will die in the Country OK with that!
Jerry Herbst
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247018
05/24/18 04:31 PM
05/24/18 04:31 PM
|
Joined: Nov 2015
Posts: 16,951 OH
Catch22
trapper
|
trapper
Joined: Nov 2015
Posts: 16,951
OH
|
Nope, SSI is for those who have low income or haven't earned enough credits to draw SSDI, or never worked.
I wonder if tap dancers walk into a room, look at the floor, and think, I'd tap that. I wonder about things.....
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247021
05/24/18 04:34 PM
05/24/18 04:34 PM
|
Joined: Dec 2010
Posts: 34,874 Central, SD
Law Dog
trapper
|
trapper
Joined: Dec 2010
Posts: 34,874
Central, SD
|
SSI is a disability coverage look it up!
It is designed to help aged, blind, and disabled people, who have little or no income.
Last edited by Law Dog; 05/24/18 04:38 PM.
Was born in a Big City Will die in the Country OK with that!
Jerry Herbst
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Law Dog]
#6247041
05/24/18 05:14 PM
05/24/18 05:14 PM
|
Joined: Nov 2015
Posts: 16,951 OH
Catch22
trapper
|
trapper
Joined: Nov 2015
Posts: 16,951
OH
|
SSI is a disability coverage look it up!
It is designed to help aged, blind, and disabled people, who have little or no income. Exactly, which contradicts your 1st statement. If the people Donner was talking about had accrued enough points they would qualify for SSDI. SSI is not a blanket for all.
I wonder if tap dancers walk into a room, look at the floor, and think, I'd tap that. I wonder about things.....
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247053
05/24/18 05:29 PM
05/24/18 05:29 PM
|
Joined: Dec 2010
Posts: 34,874 Central, SD
Law Dog
trapper
|
trapper
Joined: Dec 2010
Posts: 34,874
Central, SD
|
Kicks in at anytime you physically cannot work and are approved for it, my SS statements always listed the rate you could get SS at, so much at 62-63-64-65 and now 66.
The last listing was for if you became unable to work at any age then you get the highest amount right away THAT is want I said you should really see some one and get some professional help!
Was born in a Big City Will die in the Country OK with that!
Jerry Herbst
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247057
05/24/18 05:33 PM
05/24/18 05:33 PM
|
Joined: Nov 2015
Posts: 16,951 OH
Catch22
trapper
|
trapper
Joined: Nov 2015
Posts: 16,951
OH
|
Clearly you don't understand the difference between SSI and SSDI. Both have their own criteria to meet. Continue on lol.....
I wonder if tap dancers walk into a room, look at the floor, and think, I'd tap that. I wonder about things.....
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247069
05/24/18 06:01 PM
05/24/18 06:01 PM
|
Joined: Dec 2010
Posts: 34,874 Central, SD
Law Dog
trapper
|
trapper
Joined: Dec 2010
Posts: 34,874
Central, SD
|
It's all the same program listed together at the site even, one flows into the other and Medicaid even comes into play at some point just your pointless nitpicking games!
Was born in a Big City Will die in the Country OK with that!
Jerry Herbst
|
|
|
Re: Social security, baby boomers & millennials.
[Re: ]
#6247198
05/24/18 08:50 PM
05/24/18 08:50 PM
|
Joined: Dec 2016
Posts: 3,660 Milwaukee, Wisconsin
Tweed
trapper
|
trapper
Joined: Dec 2016
Posts: 3,660
Milwaukee, Wisconsin
|
I’m 21, been working a real job since 14, not counting mowing lawns in town and helping at the farm as a young kid. Started a savings account when I got that job at 14 and I also have a Roth ira. There might be a lot of my generation that just wants everything to be handed to them but not me. I wouldn't even say "a lot" I meet more hard working people in their early 20s now than I did 15 years ago. Will be interesting to see what generation Z accomplishes.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247692
05/25/18 05:54 PM
05/25/18 05:54 PM
|
Joined: Dec 2006
Posts: 17,379 Coeur d' Alene, Idaho
James
"Minka"
|
"Minka"
Joined: Dec 2006
Posts: 17,379
Coeur d' Alene, Idaho
|
Of course, we could cut our bloated military, instead of a program that millions of Americans rely on to keep out of poverty.
Jim
Forum Infidel since 2001
"And that troll bs is something triggered snowflakes say when they dont like what someone posts." - Boco
|
|
|
Re: Social security, baby boomers & millennials.
[Re: James]
#6247699
05/25/18 06:19 PM
05/25/18 06:19 PM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
Of course, we could cut our bloated military, instead of a program that millions of Americans rely on to keep out of poverty.
Jim So you want to cut a government make work program that keeps people out of poverty? I'm with you!
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247821
05/25/18 09:20 PM
05/25/18 09:20 PM
|
Joined: Dec 2006
Posts: 17,379 Coeur d' Alene, Idaho
James
"Minka"
|
"Minka"
Joined: Dec 2006
Posts: 17,379
Coeur d' Alene, Idaho
|
There must be some flaw in the idea, if you are for it, Dirt.
Jim
Forum Infidel since 2001
"And that troll bs is something triggered snowflakes say when they dont like what someone posts." - Boco
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247909
05/26/18 12:02 AM
05/26/18 12:02 AM
|
Joined: Nov 2011
Posts: 9,132 SWMo.
tjm
trapper
|
trapper
Joined: Nov 2011
Posts: 9,132
SWMo.
|
You could say that all the assistance programs are "government make work jobs" millions of government workers on the collection side and millions more government workers on the disbursement side. And millions more government workers standing watch over all that.
You and you and all the rest of you are Government dependents. Everybody either works for the government in some fashion; or works for an industry that sells to or services the government;or works in a field subsidized by the government; or works in job selling to or servicing those who work for the government.
The entire economy is a giant Ponzi scheme and the Savings God is a scam. Maybe?
So, when these smart youngins take over and get us off the debt produced fantasy economy of the last 50-80 years, the economy crashes, the banks fail, the government can't use debt to keep it together any more; how will those 401-roth-etc plans come out?
Even if it is only a minor correction such as 1929, how will those special funds fare? I guess, what I'm asking is how do you pick which funds/banks/whosits won't go down the tubes with all your savings? Aren't they all scams?
Last edited by tjm; 05/26/18 12:10 AM.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247932
05/26/18 02:20 AM
05/26/18 02:20 AM
|
Joined: Dec 2006
Posts: 17,379 Coeur d' Alene, Idaho
James
"Minka"
|
"Minka"
Joined: Dec 2006
Posts: 17,379
Coeur d' Alene, Idaho
|
Q1. Which political party took Social Security from the independent trust fund and put it into the general fund so that Congress could spend it? A1: There has never been any change in the way the Social Security program is financed or the way that Social Security payroll taxes are used by the federal government. The Social Security Trust Fund was created in 1939 as part of the Amendments enacted in that year. From its inception, the Trust Fund has always worked the same way. The Social Security Trust Fund has never been "put into the general fund of the government." Most likely this question comes from a confusion between the financing of the Social Security program and the way the Social Security Trust Fund is treated in federal budget accounting. Starting in 1969 (due to action by the Johnson Administration in 1968) the transactions to the Trust Fund were included in what is known as the "unified budget." This means that every function of the federal government is included in a single budget. This is sometimes described by saying that the Social Security Trust Funds are "on-budget." This budget treatment of the Social Security Trust Fund continued until 1990 when the Trust Funds were again taken "off-budget." This means only that they are shown as a separate account in the federal budget. But whether the Trust Funds are "on-budget" or "off-budget" is primarily a question of accounting practices--it has no effect on the actual operations of the Trust Fund itself. https://www.ssa.gov/history/InternetMyths2.htmlLet me know if you figure out what that means. Jim
Forum Infidel since 2001
"And that troll bs is something triggered snowflakes say when they dont like what someone posts." - Boco
|
|
|
Re: Social security, baby boomers & millennials.
[Re: tjm]
#6247938
05/26/18 04:03 AM
05/26/18 04:03 AM
|
Joined: May 2010
Posts: 10,474 mn north of blakely
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,474
mn north of blakely
|
So, when these smart youngins take over and get us off the debt produced fantasy economy of the last 50-80 years, the economy crashes, the banks fail, the government can't use debt to keep it together any more; how will those 401-roth-etc plans come out?
\
The sad part is when the ability to create money out of thin air stops and the fantasy stops the boomers and gen xers will blame it on the youth when in reality it was their fault.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247940
05/26/18 04:18 AM
05/26/18 04:18 AM
|
Joined: Dec 2006
Posts: 29,871 williamsburg ks
danny clifton
"Grumpy Old Man"
|
"Grumpy Old Man"
Joined: Dec 2006
Posts: 29,871
williamsburg ks
|
Social security has always been "borrowed from". The collected money has never been set aside and not spent. Never. Never.
There has always been more taken in than was paid out. Even when SSI was created. That may change. I believe its why illegal immigration is allowed. Not even Trump wants to stop it. New workers are needed to pay into SS. Working Americans are not having enough kids. Low income welfare types are having them.
The money has never been set aside it isn't there. Every time the printing press is fired up the dollar is worth less. It needs fired up now and again as fiat currency only works with debt. To much debt all at once will collapse it though.
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247975
05/26/18 07:42 AM
05/26/18 07:42 AM
|
Joined: Aug 2011
Posts: 1,600 Ohio
newtoga
trapper
|
trapper
Joined: Aug 2011
Posts: 1,600
Ohio
|
I am enjoying my popcorn.
lifetime member NTA, OSTA, GTA
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Steven 49er]
#6247976
05/26/18 07:43 AM
05/26/18 07:43 AM
|
Joined: Nov 2011
Posts: 9,132 SWMo.
tjm
trapper
|
trapper
Joined: Nov 2011
Posts: 9,132
SWMo.
|
So, when these smart youngins take over and get us off the debt produced fantasy economy of the last 50-80 years, the economy crashes, the banks fail, the government can't use debt to keep it together any more; how will those 401-roth-etc plans come out?
The sad part is when the ability to create money out of thin air stops and the fantasy stops the boomers and gen xers will blame it on the youth when in reality it was their fault.
I don't blame it on any one, if I did the blame would go to the dead folks that started US down this rosey path. My question is if I buy into a Plan based on imaginary money and after much work and savings and careful investment the whole shebang folds won't my Roth or 401 or coffee can full of "money" buried in the cabbages be worthless?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247992
05/26/18 08:26 AM
05/26/18 08:26 AM
|
Joined: May 2013
Posts: 5,109 Northern Michigan
J.Morse
trapper
|
trapper
Joined: May 2013
Posts: 5,109
Northern Michigan
|
I'm refusing to take the slightest blame for any financial problems this country has or will have. My Bride and I lived within our meager means for decades,living on beans and macaroni so we'd have a savings account as a retirement rainy-day fund. If the whole system collapses...and it will sooner or later.......we will be just as screwed as the rest of the country, even the grasshoppers that partied away their money weekly. When the government cuts my SS by 20% to make the system last longer, as some estimates are quoted, we are going to be PIZZED off and fighting mad. I personally paid into the system since the late 1960's. To put it bluntly....we had a deal. Live up to your end or the Boomers will be at the gate with pitchforks and torches.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6247996
05/26/18 08:30 AM
05/26/18 08:30 AM
|
Joined: Dec 2006
Posts: 17,379 Coeur d' Alene, Idaho
James
"Minka"
|
"Minka"
Joined: Dec 2006
Posts: 17,379
Coeur d' Alene, Idaho
|
More importantly, we Boomers VOTE.
Jim
Forum Infidel since 2001
"And that troll bs is something triggered snowflakes say when they dont like what someone posts." - Boco
|
|
|
Re: Social security, baby boomers & millennials.
[Re: James]
#6248094
05/26/18 12:01 PM
05/26/18 12:01 PM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
More importantly, we Boomers VOTE.
Jim The good thing is a lot of you are senile.
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248104
05/26/18 12:30 PM
05/26/18 12:30 PM
|
Joined: Jul 2016
Posts: 3,141 Michigan
Ditchdiver
trapper
|
trapper
Joined: Jul 2016
Posts: 3,141
Michigan
|
This "millennial" votes too.
When life gets me down..... you know hunting/trapping season is closed.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: tjm]
#6248110
05/26/18 12:47 PM
05/26/18 12:47 PM
|
Joined: Jul 2016
Posts: 3,141 Michigan
Ditchdiver
trapper
|
trapper
Joined: Jul 2016
Posts: 3,141
Michigan
|
[/quote] My question is if I buy into a Plan based on imaginary money and after much work and savings and careful investment the whole shebang folds won't my Roth or 401 or coffee can full of "money" buried in the cabbages be worthless? [/quote] yes it will be. But, IF it doesn't fold, you will have a savings that will get you through the rest of your life (if you saved enough). It's all a crap-shoot. I for one, would rather play on the safe side and have money put away for retirement. If the whole economic system goes down the toilet (like it's not already ) and money becomes worthless, we are all in the same boat. But if it doesn't, the savers will have money to get them through. My mom is 60 years old and has NOTHING put away! Not even $100.00! I can't imagine being 60 and not having any kind of cushion. She just recently got kicked out of her house (she rented) because she had to miss two weeks of work and had no money to pay the rent. Now, she is living with my brother and searching for a job. I don't ever want to be in that situation.
When life gets me down..... you know hunting/trapping season is closed.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248114
05/26/18 12:57 PM
05/26/18 12:57 PM
|
Joined: May 2013
Posts: 5,109 Northern Michigan
J.Morse
trapper
|
trapper
Joined: May 2013
Posts: 5,109
Northern Michigan
|
.......and another thing, I must misunderstand the whole SSI (Supplemental Security Income) deal....I thought/think it is another check, paid on top of the recipients regular SS or SSDisability check, that supplements that persons income ONLY if their assets and income is under a certain "poverty level" amount. Because my Bride and I were ants and not grasshoppers, we saved, saved, saved until it hurt, instead of blowing all our money on the various toys/vacations/want de jour, and as a result, we don't get squat, but those bozos that squandered their money and don't have much in the way of assets....GET MORE MONEY FROM THE GOVERNMENT!
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248123
05/26/18 01:22 PM
05/26/18 01:22 PM
|
Joined: Dec 2006
Posts: 29,871 williamsburg ks
danny clifton
"Grumpy Old Man"
|
"Grumpy Old Man"
Joined: Dec 2006
Posts: 29,871
williamsburg ks
|
general fund and social security fund are the same thing. our government spends more than they take in. they don't care what the original tax was its all the same fund once they take it from you
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
|
|
|
Re: Social security, baby boomers & millennials.
[Re: J.Morse]
#6248456
05/27/18 12:04 AM
05/27/18 12:04 AM
|
Joined: May 2010
Posts: 10,474 mn north of blakely
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,474
mn north of blakely
|
I personally paid into the system since the late 1960's. To put it bluntly....we had a deal. Live up to your end or the Boomers will be at the gate with pitchforks and torches. Before anyone gets mad at me, I'm not all that young and hopefully be retired with in the next 10 12 year but "we had a deal"? Bah! The boomers made a deal with themselves. Promised themselves unfunded liabilities and are expecting their children to pay for it. Deal? Great deal except for the last guy holding the bag.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248470
05/27/18 12:51 AM
05/27/18 12:51 AM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
This scheme was hatched by FDR and bought by the Great Depression generation. The baby boomers inherited this mess.
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248486
05/27/18 05:51 AM
05/27/18 05:51 AM
|
Joined: Dec 2006
Posts: 6,297 Wisconsin
RdFx
trapper
|
trapper
Joined: Dec 2006
Posts: 6,297
Wisconsin
|
Any raise in SS benfits is always offsetted by a raise in Medicade fees. At least that has been in my observance.
RdFx
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248504
05/27/18 06:59 AM
05/27/18 06:59 AM
|
Joined: Dec 2006
Posts: 17,379 Coeur d' Alene, Idaho
James
"Minka"
|
"Minka"
Joined: Dec 2006
Posts: 17,379
Coeur d' Alene, Idaho
|
Do you mean Medicare, RdFx?
Don, if I understand that quote from the SS Administration's website, the answer to your question is there was never any money borrowed and not returned. "The Social Security Trust Fund has never been "put into the general fund of the government."
But the lawyers who drafted that page may have been cleverer than I am.
Jim
Forum Infidel since 2001
"And that troll bs is something triggered snowflakes say when they dont like what someone posts." - Boco
|
|
|
Re: Social security, baby boomers & millennials.
[Re: tjm]
#6248514
05/27/18 07:24 AM
05/27/18 07:24 AM
|
Joined: May 2010
Posts: 10,474 mn north of blakely
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,474
mn north of blakely
|
Dirt, I'll agree with that as far the SS and some other bits of the mess, but truly I think the whole thing including fiat currency could not have been possible without Woody Wilson and the Flappers or lost gens, however you call them. The European based central bank was necessary for all the socialist programs to flourish. Even if we start the fantasy with Nixon scrapping the precious metals, the bulk of the blame still predates the boomers as only the very oldest of them got to vote for tricky dicky and all the other pieces were already in place. You are correct that the pieces were in place, but that doesn't mean we had to utilize those pieces.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248531
05/27/18 08:21 AM
05/27/18 08:21 AM
|
Joined: Feb 2010
Posts: 19,719 pa
hippie
trapper
|
trapper
Joined: Feb 2010
Posts: 19,719
pa
|
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248543
05/27/18 08:41 AM
05/27/18 08:41 AM
|
Joined: Dec 2006
Posts: 29,871 williamsburg ks
danny clifton
"Grumpy Old Man"
|
"Grumpy Old Man"
Joined: Dec 2006
Posts: 29,871
williamsburg ks
|
if ss is bust will welfare and food stamps be bust too?
when it all blows up will we go back to capitalism or will people claim socialism can work if we just tweak it a little??????????????????????? I will likely be dead by then but I am curious as to what will come out of the ashes.
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248561
05/27/18 09:25 AM
05/27/18 09:25 AM
|
Joined: Dec 2011
Posts: 10,369 MT
snowy
trapper
|
trapper
Joined: Dec 2011
Posts: 10,369
MT
|
Back to a few of the OP questions. I have a son that was born after 1982 and is very successful in his career. He makes more money then I did after 35 years in my profession. So I would say not all born after 1982 are dead beats.
Give me a fish, I will eat for a day. Teach me to fish, I will eat for a lifetime
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248598
05/27/18 10:50 AM
05/27/18 10:50 AM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
Don what you are talking about is a myth. I see hippie put a link to a story about how this worked. I'll explain how it worked as best as I know. FDR sold the scheme as an insurance program where your money was put into an account for your retirement. It has always been a flat tax with a cap. Any excess money collected over the ever changing payout program has always been used by the Federal government to fund other parts of the Federal government. They could just spend it, but they play a convoluted game where they say they borrow it from themselves. In the late 60's I believe they changed how they account for this by adding this amount borrowed( that the government owes itself )to the Federal national debt number. This accounting change is where people think the Federal government starting robbing the social security trust fund (which really never existed). They always spent any surplus tax revenue. Nothing has changed in this regard, but all the other parts of social security (that people think they got a fixed deal with the Federal government) change constantly. It is an open ended contract forced on you. P.S. If it hadn't been for FDR's court packing scheme (basically blackmail), SSI would probably have died in the Supreme Court back in the 30's.
Last edited by Dirt; 05/27/18 11:21 AM.
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248613
05/27/18 11:19 AM
05/27/18 11:19 AM
|
Joined: Dec 2006
Posts: 29,871 williamsburg ks
danny clifton
"Grumpy Old Man"
|
"Grumpy Old Man"
Joined: Dec 2006
Posts: 29,871
williamsburg ks
|
doesn't matter bigfoot. its all the same fund and source of revenue. every federally collected tax, no matter the name of the tax, goes into one pool that politicians pump out of.
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Steven 49er]
#6248623
05/27/18 11:43 AM
05/27/18 11:43 AM
|
Joined: May 2013
Posts: 5,109 Northern Michigan
J.Morse
trapper
|
trapper
Joined: May 2013
Posts: 5,109
Northern Michigan
|
[quote=J.Morse] I personally paid into the system since the late 1960's. To put it bluntly....we had a deal. Live up to your end or the Boomers will be at the gate with pitchforks and torches. Before anyone gets mad at me, I'm not all that young and hopefully be retired with in the next 10 12 year but "we had a deal"? Bah! The boomers made a deal with themselves. Promised themselves unfunded liabilities and are expecting their children to pay for it. Deal? Great deal except for the last guy holding the bag. [/quot Yes, we had a deal....I, as a Boomer, didn't make it, but I lived up to my end of it all my working career....most of which I was self employed and paid double (15+%) the SS payroll tax as anyone that worked for wages for another person/company. It was a deal, fair and square, and I will be loading my pitchfork if they try to screw with my share. 49'er....I ain't mad at you or anyone else. All I am doing is belly-aching about the government. That's what retirees do!
Last edited by J.Morse; 05/27/18 11:44 AM.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248658
05/27/18 12:55 PM
05/27/18 12:55 PM
|
Joined: Dec 2006
Posts: 8,854 Magna, Utah
GritGuy
trapper
|
trapper
Joined: Dec 2006
Posts: 8,854
Magna, Utah
|
Well I'm a boomer as well and not the least apologetic for being able to take some of my funds put into the program over my life ! As I was not able to vote for or against it and nothing was ever done since my birth to change it, I have to accept the fact that it's not going to be replaced until it's dead, so I'm using it ! Those who complain about it should just not take it and let others use what they may have gotten out of it, seeing as they feel so terrible about having the program in place to begin with !
I see alot of those who complain about it being a Ponzi scheme, but don't see any of them doing any thing to change the program in place, they still pay into the program, they still sit on the window sill and complain about doing so, but not one of them do any thing to change.
So until it's changed, replaced, moved out of Ponzi land, I'm taking it for what I paid into it, and will not apologize for doing my forced part in having it, I'll just force my self to use it. LOL
Sorry if my opinions or replies offend you, they are not meant to !
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248662
05/27/18 12:59 PM
05/27/18 12:59 PM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
Well we will just call it a "shell game" to go along with "Ponzi scheme".
"a deceptive and evasive action or ploy, especially a political one."
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248671
05/27/18 01:15 PM
05/27/18 01:15 PM
|
Joined: Dec 2006
Posts: 29,871 williamsburg ks
danny clifton
"Grumpy Old Man"
|
"Grumpy Old Man"
Joined: Dec 2006
Posts: 29,871
williamsburg ks
|
I'm like grit. I was forced to pay in and I'm going to use it
The plate jugglers at the central bank may be able to keep juggling for a long time yet. I don't know. I think collapse is inevitable though. If for no other reason than the ratio of producers to consumers is changing in the wrong direction. I suppose the fact that what one person can produce keeps increasing has an effect also on how many consumers a producer can support.
I am just a truck driver and fur trapper. Lots I don't know about economic manipulation. I know too many rats in a pond will cause a bunch to immigrate and get ate by coyotes on their quest for a new cattail bog. I suspect there will be a big reduction in humans one of these days. Either from war or drought or disease. War could possibly be the result of an economic collapse. Economic collapse could likely be the end result of socialism.
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
|
|
|
Re: Social security, baby boomers & millennials.
[Re: danny clifton]
#6248687
05/27/18 01:54 PM
05/27/18 01:54 PM
|
Joined: May 2010
Posts: 10,474 mn north of blakely
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,474
mn north of blakely
|
Like Grit, I will use it as well when the time comes.
Unlike Grit I don't think it's our children's responsibility to repay all the money the greatest generation, boomers and gen xers borrowed. I will gladly take a cut if it's necessary and will support candidates who want to do away with the program.
Danny, a fiat based economy doesnt care if it's run by liberals or conservatives. The end result will be the same.
Bush and Obama should have ripped the band aid off instead of bailouts and borrowing.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248702
05/27/18 02:33 PM
05/27/18 02:33 PM
|
Joined: May 2010
Posts: 10,474 mn north of blakely
Steven 49er
trapper
|
trapper
Joined: May 2010
Posts: 10,474
mn north of blakely
|
I am not ready to become Amish.
Not just anybody can opt of SSI. If we could the program would have been tits up a long time ago.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: bblwi]
#6248709
05/27/18 02:49 PM
05/27/18 02:49 PM
|
Joined: Jun 2015
Posts: 1,257 Minnesota
Woodsloafer72
trapper
|
trapper
Joined: Jun 2015
Posts: 1,257
Minnesota
|
You can request to have your employer not take out SSN funds. You can contact the federal government and request that you do not want to contribute to the SSN system. You can then invest those funds for yourself. You will not receive SSN or Medicare if you choose this option. For those that are strongly opposed to the government system why you have not done this I don't understand. I did taxes for at least two workers who made this choice. I don't feel it is wise but then it is their life and yours as well.
Bryce I was looking at the SS webpage a few years ago. Intended to do just that. All of the info I could find says that you cannot do that anymore.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Woodsloafer72]
#6248710
05/27/18 02:55 PM
05/27/18 02:55 PM
|
Joined: Dec 2006
Posts: 11,342 East-Central Wisconsin
bblwi
trapper
|
trapper
Joined: Dec 2006
Posts: 11,342
East-Central Wisconsin
|
OK when did you look? The last tax filing doing that for me was 2007 or 2008. He worked on a dairy farm as an at will employee like many are now with no unions or work contacts etc. I will do some checking on the date that law may have changed. I know the option was on the table while the discussion under younger Bush when they were investigating allowing private investments for younger SSN payers for a portion of their payments. Below is a brief link on who can opt out and who can not. Yes the list has been trimmed considerably since I had last looked. https://www.investopedia.com/ask/answers/020315/there-any-way-opt-out-paying-social-security.aspBryce
Last edited by bblwi; 05/27/18 02:59 PM.
|
|
|
Re: Social security, baby boomers & millennials.
[Re: Steven 49er]
#6248713
05/27/18 02:58 PM
05/27/18 02:58 PM
|
Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,184
Armpit, ak
|
I am not ready to become Amish.
Not just anybody can opt of SSI. If we could the program would have been tits up a long time ago. "The law is very specific about the requirements for exemption from the Social Security program, and most taxpayers do not qualify. But yes, exemptions do exist for a small number. Certain religious groups, students, U.S. citizens who decide to forfeit their national citizenship, employees of foreign governments and self-employed workers who make less than $400 annually are all examples of taxpayers who are not responsible for paying Social Security taxes. Of course, since they are exempt, they are also ineligible to receive any Social Security benefits."
Who is John Galt?
|
|
|
Re: Social security, baby boomers & millennials.
[Re: harleydparts]
#6248716
05/27/18 03:02 PM
05/27/18 03:02 PM
|
Joined: Dec 2006
Posts: 8,854 Magna, Utah
GritGuy
trapper
|
trapper
Joined: Dec 2006
Posts: 8,854
Magna, Utah
|
I've never advocated others keep paying into this program, where that comes from I have no idea ! I do say if you have paid into it you should try and get something out of the dollars taken from you. I don't know a way when working legally that one can not donate to this program, LOL
I have said why don't the complainers change it instead of just sitting and complaining about it ! I always look at new ideas to see if they are viable, not many out there to read about though !
As for opting out that's not possible any more, if your out of it be any means your required to enter some other method of saving and it's recorded and sent to the government, I'm surprised those who suggest opting out do not know of the ramifications on this process !
This program is so entrenched in sucking earned dollars into the program it's not about ever going to let it stop, unless it's a forced out or congressionaly replaced, neither of which is apt to occur until it's fiscally insolvent.
Sorry if my opinions or replies offend you, they are not meant to !
|
|
|
|
|