Report: Social Security And Medicare Will Bankrupt America Faster Than We Thought

ananda said:

There's only two truthful courses of action with socialist programs like SS/MC:

1. People get out slightly less than what they put in, or
2. People are promised more than they put in.​

If #1 is chosen, you might as well not have the program at all. Leave the money in the hands of the people instead of taking it from them, taking a cut for the program administrators, and returning it back later.

If #2 is chosen, gov't must ensure infinite growth in the people, which we know is impossible.

Otherwise - #3: if deception is involved in the creation of such programs - the pyramid scheme/program eventually collapses in on itself, leaving the people in the grips of civil war - while the initial recipients & program administrators make off like bandits. This third option seems to be the way we're headed.

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One thing though is we have fewer people putting in any now. Back when it first started there were way more people putting in than taking out and on average people were taking out for shorter periods. Now, as people retire even without a disability program they are having fewer children and more for various reasons are choosing not to have any; while at the same time living longer which means they are taking out over a longer period well yeah it will run out of money, but as long as you have a certain number of more people putting in than taking out you will be good. It is like we are hurting ourselves by helping ourselves because as people are living longer, healthier lives you have more people taking out and as they have fewer children ( since we have fewer farms and more birth control options now there are fewer people paying into a system that was really designed to help people the last one to say five years and not the last ten 20 or 30 years.

Radagast said:

Last year, Social Security made a profit of $44 billion, because it paid less in benefits than it collected in payroll tax. It has a total of $3 trillion in profits saved up in the bank.

It currently is fully funded, in that retiree benefits are equal to contributions plus interest.

Long-term, that won't last, because people are living longer, but a fairly modest cut to benefits and/or payroll tax increase will balance the books again.

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Another option may be to only allow certain people to collect. When I say that, I mean that people who are worth millions of dollars or are still maintaining say a six figure income by investments one could argue do not really need the money. The bar would be set high though net worth and/or income wise. It would not be like 50k or anything.

ananda said:

It is mathematically unfair, and unsustainable ... no matter how we might feel about it, unfortunately.

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so people should not have insurance then?

drjean said:

Jesus IS the Word.

He says the poor we will always have with us.

I've said nothing about those who are unable to work, unless they are here illegally.

Social security was created to cover you in that final year or two of life... when created man retired about one year before the average man died.

Yes I know of those using TIN numbers to pay taxes, God bless them. But they do so to obey the laws and with hope of receiving back once citizens. They are not the ones coming here only for a free handout without excuse.

Proverbs 18:9-10 Whoever is lazy regarding his work is also a brother to the master of destruction. The name of the Lord is a strong tower; a righteous person rushes to it and is lifted up above the danger.

Proverbs 10:3-5 The Lord won’t cause the righteous to hunger, but he will reject what the wicked crave. Idle hands bring poverty, but hard-working hands lead to wealth. Whoever harvests during summer acts wisely, but the son who sleeps during harvest is disgraceful.

Proverbs 21:25 The craving of a sluggard will be the death of him, because his hands refuse to work.

Deuteronomy 5:13 Six days you shall labor and do all your work.

Genesis 2:15 The Lord God took the man and put him in the garden of Eden to work it and keep it.

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Also, Jesus said we will always have the poor among us that is not the same as saying the SAME poor.

ananda said:

Insurance - where people voluntarily pay in under the hopes they shouldn't have to use it - is not the same as SS/MC, where people are required to pay in and expect to use it.

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Actually, people have the option of not using it. Just because you reach a certain age does not force you to collect social security and in fact as long as one is working for pay (assuming that it is not "under the table" they are still paying in and so if they reach that age whether they choose to take out or not they are still putting in they can be 90 years old, but if they are still earning a pay check they are still paying in even if they opt not to collect one red cent.

expos4ever said:

A common, albeit misleading argument. You vote - and freely I might add - to be taxed to support the public good.

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yes, but the public good, as opposed to giving to people that you feel deserve it and truly need it as opposed to trusting the government to make those calls.