401k

[Anonymous]

Social Security is the biggest Ponzi scheme there has ever been. The only way any of it continues( social security payments, medicare, medicaid, welfare, policing the world) is by the Federal Reserve creating money and running up Federal debt. Congress can't even balance a yearly budget so money creation continues, there by creating inflation. Inflation eats your savings away and makes ss checks purchase less and less over time. A Vicious cycle that will not end well. Isn't Social Security basically the definition of SOCIALISM? IMO,Trusting govt for retirement, or anything for that matter, only creates dependency and suppresses responsibility.

 

[Caustic Burno]

Social Security is the biggest Ponzi scheme there has ever been. The only way any of it continues( social security payments, medicare, medicaid, welfare, policing the world) is by the Federal Reserve creating money and running up Federal debt. Congress can't even balance a yearly budget so money creation continues, there by creating inflation. Inflation eats your savings away and makes ss checks purchase less and less over time. A Vicious cycle that will not end well. Isn't Social Security basically the definition of SOCIALISM? IMO,Trusting govt for retirement, or anything for that matter, only creates dependency and suppresses responsibility.

Not as originally designed it was supplemental retirement and death insurance for dependents.The coffers were running over with money. Ike dipped in the bucket to bailout the postal service.
LBJ knocked the bottom out of the bucket financing the Great Society.

 

[Caustic Burno]

They need to find a way to take care if her with out punishing me.

It's become nothing more than a welfare program.

Your not being punished if something happened to you today God forbid your wife would draw on your children until they graduated.

Farm subsidies are a far worse welfare system.
All Americans that pay taxes are paying farmer welfare.
Subsidy just sounds better.

 

[Anonymous]

Social Security is the biggest Ponzi scheme there has ever been. The only way any of it continues( social security payments, medicare, medicaid, welfare, policing the world) is by the Federal Reserve creating money and running up Federal debt. Congress can't even balance a yearly budget so money creation continues, there by creating inflation. Inflation eats your savings away and makes ss checks purchase less and less over time. A Vicious cycle that will not end well. Isn't Social Security basically the definition of SOCIALISM? IMO,Trusting govt for retirement, or anything for that matter, only creates dependency and suppresses responsibility.

Not as originally designed it was supplemental retirement and death insurance for dependents.The coffers were running over with money. Ike dipped in the bucket to bailout the postal service.
LBJ knocked the bottom out of the bucket financing the Great Society.

"The first monthly payment was issued on January 31, 1940 to Ida May Fuller of Ludlow, Vermont. In 1937, 1938, and 1939, she paid a total of $24.75 into the Social Security System. Her first check was for $22.54. After her second check, Fuller already had received more than she contributed over the three-year period. She ultimately reached her 100th birthday, dying in 1975 and she collected a total of $22,888.92."Looks like a Ponzi Scheme from the start.

 

[True Grit Farms]

Social Security is the biggest Ponzi scheme there has ever been. The only way any of it continues( social security payments, medicare, medicaid, welfare, policing the world) is by the Federal Reserve creating money and running up Federal debt. Congress can't even balance a yearly budget so money creation continues, there by creating inflation. Inflation eats your savings away and makes ss checks purchase less and less over time. A Vicious cycle that will not end well. Isn't Social Security basically the definition of SOCIALISM? IMO,Trusting govt for retirement, or anything for that matter, only creates dependency and suppresses responsibility.

Not as originally designed it was supplemental retirement and death insurance for dependents.The coffers were running over with money. Ike dipped in the bucket to bailout the postal service.
LBJ knocked the bottom out of the bucket financing the Great Society.

"The first monthly payment was issued on January 31, 1940 to Ida May Fuller of Ludlow, Vermont. In 1937, 1938, and 1939, she paid a total of $24.75 into the Social Security System. Her first check was for $22.54. After her second check, Fuller already had received more than she contributed over the three-year period. She ultimately reached her 100th birthday, dying in 1975 and she collected a total of $22,888.92."Looks like a Ponzi Scheme from the start.

I'm getting close to collecting SS, and my dad asked if I was going to wait or start collecting ASAP. ASAP was my answer. He told me he started paying SS in 1939, and it took him about 20 years to get his money back not including interest.

 

[Caustic Burno]

No different than any other insurance policy.
As it states SS retirement insurance.

 

[Caustic Burno]

Not as originally designed it was supplemental retirement and death insurance for dependents.The coffers were running over with money. Ike dipped in the bucket to bailout the postal service.
LBJ knocked the bottom out of the bucket financing the Great Society.

"The first monthly payment was issued on January 31, 1940 to Ida May Fuller of Ludlow, Vermont. In 1937, 1938, and 1939, she paid a total of $24.75 into the Social Security System. Her first check was for $22.54. After her second check, Fuller already had received more than she contributed over the three-year period. She ultimately reached her 100th birthday, dying in 1975 and she collected a total of $22,888.92."Looks like a Ponzi Scheme from the start.

I'm getting close to collecting SS, and my dad asked if I was going to wait or start collecting ASAP. ASAP was my answer. He told me he started paying SS in 1939, and it took him about 20 years to get his money back not including interest.

I figured a little longer late 80's.
Lot would depend on your wages .

 

[Anonymous]

No different than any other insurance policy.
As it states SS retirement insurance.

Big difference is that you wont go to jail for not paying other "insurance". There is no account or fund that my ss tax goes into and saved with my name on it. I'm paying taxes today so some one can receive a check. End the tax today and checks would stop as well. That's why I say it is a Ponzi scheme. Past collections have long since been spent. Eventually, It will run out!! No way to get around that fact.

 

[Anonymous]

https://files.taxfoundation.org/legacy/ ... 090504.pdf Interesting to see the rates and max taxable income for Social Security over the years.

 

[Brute 23]

They need to find a way to take care if her with out punishing me.

It's become nothing more than a welfare program.

Your not being punished if something happened to you today God forbid your wife would draw on your children until they graduated.

Farm subsidies are a far worse welfare system.
All Americans that pay taxes are paying farmer welfare.
Subsidy just sounds better.

I don't have a wife and my son is 12. He would not draw any where near what I have put in by 18.

I am 30 years old and either this year or next my credits are maxed out. I can not get any more money no matter what I contribute after this point. So for the next 35 years, if it stays at 65, the government is pocketing the money and handing it out to buy votes. If I die between my son turning 18 and me turning 65, myself, my son, or no one else I designate will ever see a penny from it. Even if I live to 100 I will not get close to getting my money back and I definitely won't get what it could have earned it the stock market.

I started paying social security taxes at 12 years old. If it was all invested in the stock market it would be millions of dollars... instead... if I'm lucky... under the right circumstances... I may get $2200 or 2800 (I can't remember the amount) a month... and only until I die.

If you take just the money the government stole from me thru social security from age 12 to now... invested that at 30 years old.... never contribute a dime after... It's almost 6 MILLION DOLLARS by age 65. I would have to get $2500 checks from social security for over 200 years to make up for that.

If you take what the government stole from me thru social security from age 20 to age 65 and it was invested in the stock market I would have over 13 MILLION DOLLARS at age 65. Instead I will get $2500 A month until I die!

That's is the definition of being screwed! :devil2:

The only reason the government has to take care of people when they are old is because they rob them blind when they are young.

From a numbers stand point the government would be better off taxing me on my 13 million at retirement age than stealing the little bit from me thru social security until then. That's the shorted sighted, broke mentality I'm talking about. The $18,500 annually for SS over 45 years is only $832,000 assuming I take nothing from it. The government would make more that in taxes taxing me at the highest bracket when I tried to take the 13 million out at retirement. So basically... The government isn't even good at stealing our money. They are screwing the citizens by limiting their wealth and screwing the government by taking the money too soon. :???:

 

[Jogeephus]

They need to find a way to take care if her with out punishing me.

It's become nothing more than a welfare program.

How is it welfare for her? She's paid into social security her entire life. That was the rules and right or wrong that was the deal. It is HER money and its not her fault the politicians mishandled it.

 

[bball]

Social Security is the biggest Ponzi scheme there has ever been. The only way any of it continues( social security payments, medicare, medicaid, welfare, policing the world) is by the Federal Reserve creating money and running up Federal debt. Congress can't even balance a yearly budget so money creation continues, there by creating inflation. Inflation eats your savings away and makes ss checks purchase less and less over time. A Vicious cycle that will not end well. Isn't Social Security basically the definition of SOCIALISM? IMO,Trusting govt for retirement, or anything for that matter, only creates dependency and suppresses responsibility.

I can not like this post enough!!!! Well stated.

 

[Caustic Burno]

They need to find a way to take care if her with out punishing me.

It's become nothing more than a welfare program.

Your not being punished if something happened to you today God forbid your wife would draw on your children until they graduated.

Farm subsidies are a far worse welfare system.
All Americans that pay taxes are paying farmer welfare.
Subsidy just sounds better.

I don't have a wife and my son is 12. He would not draw any where near what I have put in by 18.

I am 30 years old and either this year or next my credits are maxed out. I can not get any more money no matter what I contribute after this point. So for the next 35 years, if it stays at 65, the government is pocketing the money and handing it out to buy votes. If I die between my son turning 18 and me turning 65, myself, my son, or no one else I designate will ever see a penny from it. Even if I live to 100 I will not get close to getting my money back and I definitely won't get what it could have earned it the stock market.

I started paying social security taxes at 12 years old. If it was all invested in the stock market it would be millions of dollars... instead... if I'm lucky... under the right circumstances... I may get $2200 or 2800 (I can't remember the amount) a month... and only until I die.

If you take just the money the government stole from me thru social security from age 12 to now... invested that at 30 years old.... never contribute a dime after... It's almost 6 MILLION DOLLARS by age 65. I would have to get $2500 checks from social security for over 200 years to make up for that.

If you take what the government stole from me thru social security from age 20 to age 65 and it was invested in the stock market I would have over 13 MILLION DOLLARS at age 65. Instead I will get $2500 A month until I die!

That's is the definition of being screwed! :devil2:

The only reason the government has to take care of people when they are old is because they rob them blind when they are young.

From a numbers stand point the government would be better off taxing me on my 13 million at retirement age than stealing the little bit from me thru social security until then. That's the shorted sighted, broke mentality I'm talking about. The $18,500 annually for SS over 45 years is only $832,000 assuming I take nothing from it. The government would make more that in taxes taxing me at the highest bracket when I tried to take the 13 million out at retirement. So basically... The government isn't even good at stealing our money. They are screwing the citizens by limiting their wealth and screwing the government by taking the money too soon. :???:

Just like any other insurance .
The pool insurers the one at the time in need.
They are not limiting wealth but insuring it instead.
No different than the car insurance you pay today for the uninsured.
No different than the higher medical premiums and taxes you pay to treat the uninsured.
My biggest property tax burden is to the hospital and school.
No different than the property taxes you pay to educate children of people that pay none.
Your living in a fantasy world.
I will agree it is being totally used way different than the original intent LBJ took care of that.
It was set up pay to play originally on a sliding scale. If paid 50% in you could only draw 50% benefits etc.
It was born out of the disaster of the depression and the cost to the country.

 

[Brute 23]

They need to find a way to take care if her with out punishing me.

It's become nothing more than a welfare program.

How is it welfare for her? She's paid into social security her entire life. That was the rules and right or wrong that was the deal. It is HER money and its not her fault the politicians mishandled it.

It may or may not be for her, we don't know how much she put in vs how much she got back.

There are only 2 kinds of people with social security... the person who got screwed because you never saw your money or the person who got welfare because they got more than they put in.

 

[Brute 23]

Your not being punished if something happened to you today God forbid your wife would draw on your children until they graduated.

Farm subsidies are a far worse welfare system.
All Americans that pay taxes are paying farmer welfare.
Subsidy just sounds better.

I don't have a wife and my son is 12. He would not draw any where near what I have put in by 18.

I am 30 years old and either this year or next my credits are maxed out. I can not get any more money no matter what I contribute after this point. So for the next 35 years, if it stays at 65, the government is pocketing the money and handing it out to buy votes. If I die between my son turning 18 and me turning 65, myself, my son, or no one else I designate will ever see a penny from it. Even if I live to 100 I will not get close to getting my money back and I definitely won't get what it could have earned it the stock market.

I started paying social security taxes at 12 years old. If it was all invested in the stock market it would be millions of dollars... instead... if I'm lucky... under the right circumstances... I may get $2200 or 2800 (I can't remember the amount) a month... and only until I die.

If you take just the money the government stole from me thru social security from age 12 to now... invested that at 30 years old.... never contribute a dime after... It's almost 6 MILLION DOLLARS by age 65. I would have to get $2500 checks from social security for over 200 years to make up for that.

If you take what the government stole from me thru social security from age 20 to age 65 and it was invested in the stock market I would have over 13 MILLION DOLLARS at age 65. Instead I will get $2500 A month until I die!

That's is the definition of being screwed! :devil2:

The only reason the government has to take care of people when they are old is because they rob them blind when they are young.

From a numbers stand point the government would be better off taxing me on my 13 million at retirement age than stealing the little bit from me thru social security until then. That's the shorted sighted, broke mentality I'm talking about. The $18,500 annually for SS over 45 years is only $832,000 assuming I take nothing from it. The government would make more that in taxes taxing me at the highest bracket when I tried to take the 13 million out at retirement. So basically... The government isn't even good at stealing our money. They are screwing the citizens by limiting their wealth and screwing the government by taking the money too soon. :???:

Just like any other insurance .
The pool insurers the one at the time in need.
They are not limiting wealth but insuring it instead.
No different than the car insurance you pay today for the uninsured.
No different than the higher medical premiums and taxes you pay to treat the uninsured.
My biggest property tax burden is to the hospital and school.
No different than the property taxes you pay to educate children of people that pay none.
Your living in a fantasy world.
I will agree it is being totally used way different than the original intent LBJ took care of that.
It was set up pay to play originally on a sliding scale. If paid 50% in you could only draw 50% benefits etc.
It was born out of the disaster of the depression and the cost to the country.

How is giving me $2500 a month vs me making $13M not limiting wealth? Thats money that I could use and even pass on to heirs.

I can choose to buy car insurance and you go to the private market for it.

I could choose medical insurance be for Obama. Even with Obamacare although it's mandated, you can go to the private market for the insurance. Let me go to the private market with this mandated social security.

I can choose to pay property taxes also and when I do I can see exactly where it's going so I am actually getting things for my money.

I don't see how social security and those are any thing a like.

I am forced to buy some thing now that every one has admitted will run out before I'm able to collect. What kind of security is that providing? That is flat out theft.... Not insurance. They are selling a product that they can not produce.

 

[Caustic Burno]

Brute Your usually pretty smart.

 

[Brute 23]

Brute Your usually pretty smart.

Explain it then.

The governement can accomplish everything they need to and let people like me take the money in to the stock market.

The only reason the government does not do that is because they can't steal from the fund if they do... and that's the exact reason it needs to be moved.

That is the same reason your 401K is safer in the stock market than a company pension.

 

[Caustic Burno]

Brute Your usually pretty smart.

Explain it then.

The governement can accomplish everything they need to and let people like me take the money in to the stock market.

The only reason the government does not do that is because they can't steal from the fund if they do... and that's the exact reason it needs to be moved.

That is the same reason your 401K is safer in the stock market than a company pension.

People like you taking everything in the stock market is exactly the reason it was created.
When the economy collapsed in the depression the entire country went broke from the market and bank collapse.
My great grandfather was one of the richest men in the county and major employer. He lost everything so did all the people that worked for him as well.

401K is not safer than a company pension either the PBGC insures most .
Again misinformed this all falls under the ERISA act.

 

[TexasBred]

They need to find a way to take care if her with out punishing me.

It's become nothing more than a welfare program.

How is it welfare for her? She's paid into social security her entire life. That was the rules and right or wrong that was the deal. It is HER money and its not her fault the politicians mishandled it.

It may or may not be for her, we don't know how much she put in vs how much she got back.

There are only 2 kinds of people with social security... the person who got screwed because you never saw your money or the person who got welfare because they got more than they put in.

Show me some research backing this claim. Gotta real split hairs to make that an accurate comment Brute.

 

[Brute 23]

Brute Your usually pretty smart.

Explain it then.

The governement can accomplish everything they need to and let people like me take the money in to the stock market.

The only reason the government does not do that is because they can't steal from the fund if they do... and that's the exact reason it needs to be moved.

That is the same reason your 401K is safer in the stock market than a company pension.

People like you taking everything in the stock market is exactly the reason it was created.
When the economy collapsed in the depression the entire country went broke from the market and bank collapse.
My great grandfather was one of the richest men in the county and major employer. He lost everything so did all the people that worked for him as well.

401K is not safer than a company pension either the PBGC insures most .
Again misinformed this all falls under the ERISA act.

No, people panicking and not understanding the stock market caused the great depression. It was just a normal recession until people panicked and started pulling their money. Even then, the stock market only dropped 30%. Had people not panicked and burried their money in cans it would have recovered faster and would not have been an issue.

Even then the stock market drop was a symptom not the cause. The cause for the recession that started the great depression was from lack of growth and a weak economy.

Guess how your prevent a week economy... Ding! Ding! Ding!... cut taxes... put money in the hands of the people to spend, invest, etc.

Soooo... It's government taxes like social security that cause ressionsions... That lead to great depressions... That the government has to creat programs to save us from... then the programs cause recessions... That lead to great depressions... That lead to government programs... So on and so forth

Do you see the cycle. When the govt removes money from the hands of the people to put back in to the economy that is where the problems start. I do believe there needs to be laws to help guide people like auto insurance but the government doesnt not need to mandate it, operate it, own it, etc like they do with social security.