LarryBird
Well-Known Member
It is not retirement savings. That you do on your own.
It is a safety net and/or added bonus if your retirement investments/savings are adequate.
New Social Security bill
- Thread starter Jones
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It is a safety net and/or added bonus if your retirement investments/savings are adequate.
Often referred to as social insurance by some.
El Correcto
god is dead
I just love the second social security comes up these republicans on here go full on Bernie to defend it.
Espousing socialism and even attacking capitalism.
You idiots need to get checked for dementia.
Yeah social security is a great deal for you while underfunding it and getting it at 65. How long will it stay that way. I wouldn’t be surprised to see it raised to 12% of my earning by end of my life, if not broke.
Espousing socialism and even attacking capitalism.
You idiots need to get checked for dementia.
Yeah social security is a great deal for you while underfunding it and getting it at 65. How long will it stay that way. I wouldn’t be surprised to see it raised to 12% of my earning by end of my life, if not broke.
DriveInDriveOut
Inordinately Right
Old Man Jingles
Rat out of a cage
While Regan's financial policies helped engineer changes in the tax code, reduce income tax rates, and decrease taxes for corporations, you seem to be referring to his implementation and support for "Reagonomics".
So while Regan may have screwed certain peoples, he was doing so in behest of his boss, Ronald Reagan.
Old Man Jingles
Rat out of a cage
He was Secretary of Treasury under Reagan.
Old Man Jingles
Rat out of a cage
Not exactly.
An insurance program requires that the ensured person pay into the program for a unspecified period of time.
Medicare is an insurance program.
"Medicare for All" is an entitlement program as there is no requirement to pay into a system in order to get benefits.
Doubt he was going off on Donald Regan though.
As has been mentioned earlier SS is a forced retirement savings plan. Some of you want to abolish the program but those who do have not offered an alternative forced savings plan. Why is that of upmost importance? You don't know how long you can work. You don't know how much money you'll earn. You don't know if there will be lapses in employment and earnings due to no fault of your own . The days of working 40 years for one company with no layoffs, plant closures no long term sickness or injury are over. SS today is only meant to provide one third of the average retirees income needs. That means that in addition to funding the other two thirds yourself you'll also have to find a way to fund the income loss resulting from an abolished Social Security. It was once stated that a person would have to have a savings portfolio of at least 1 million dollars to have any hope of having a modest retirement. That number has long since gone away with the new savings goal in the 2 million range. One of the reasons for the uptick is inflation and the rising costs of healthcare which is projected to increase by an average of 5.5% annually for decades to come.
LarryBird
Well-Known Member
No I'm not.
You have a poor understanding of my posts. I tried to put it in as simple of terms as was humanly possible and it was still confusing for you. That's kind of telling.
I'm not gonna clarify it. Reread them until you comprehend it, and see where your confusion is coming in. Or just continue to read on a 3rd grade level, doesn't make much difference to me either way.
DriveInDriveOut
Inordinately Right
You said it's a forced savings account.
Then you said it's not savings.
Now you're resorting to insults because you got called out on your BS.
Sad.
DriveInDriveOut
Inordinately Right
I don't have any problem with the disability aspect, or even the spouse and child survivor payouts of social security. But if you don't have enough money to not work, you should work if you are physically capable, I don't care how old you are. Retirement is not a fundamental right.
Old Man Jingles
Rat out of a cage
What's sad is 'resorting to insults' is your normal Modus Operandi.
DriveInDriveOut
Inordinately Right
I see you're still butthurt that you got called out on your lies last night. You'll get over it eventually monkeybutt.
And you'll understand when you get to that age.
LarryBird
Well-Known Member
No that's not what I said at all.
I said SS is a tax that could be looked upon as a forced savings so that you have a safety net in case your investments toward retirement go wrong or you don't plan ahead at all.
Retirement savings is something you must choose do on your own, outside of, and in addition to paying the SS tax, which is not a choice. Nobody's forcing you to put any extra money aside for when you are no longer able to work if you do not want to.
SS Tax = mandatory
Retirement planning = optional
You got it yet, or must I continue on?
DriveInDriveOut
Inordinately Right
Wow what a compelling argument.
Smh
And you'll realize just how compelling when you get older.
Brownslave688
You want a toe? I can get you a toe.
Well that’s pretty simple. Take the money that would have been taxed away from you that you’re getting a terrible return on (SS) and put it towards retirement. We’d all come out much better. Kind of like our pension monies at ups.
DriveInDriveOut
Inordinately Right
So it is a forced savings account.
But it's not a forced savings account.
Because it's mandatory.
Riiiiighttt.
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