What happens when Social Security goes bust?

[JohnnySausage]

I think it will be bad.

 

[Karen Kraft]

I think it will be bad.

Nah.

They'll just print more money.

 

[TexasWife25]

Nah.

They'll just print more money.

LOL

sad but true

 

[subwannabe]

It's not going to go bust. Even the idiots in there now will eventually fix the problem. Well, maybe not the idiots in there now but the future idiots will find a solution.

 

[Loring2]

Mistake! mistake!

Power to the people ... not

 

[Loring2]

Mistake! mistake!

Mistake if it happens. Envision millions of senior citizens armed with M-15s looting and robbing banks and stores and rich people all over America

 

[Shagly]

I think it will be bad.

The Fed's. would just come up with a new tax.

 

[LJ_Reloaded]

I think it will be bad.

Social Security won't go bust.

Everyone will be moved into private investments like the stock market. That will be the one that goes bust, and when it does...

 

[John Doe]

It's not going to go bust. Even the idiots in there now will eventually fix the problem. Well, maybe not the idiots in there now but the future idiots will find a solution.

I find thith admirably opthimithtic.

 

[1sickbastard]

I think it will be bad.

The retirement age will rise and the recipients will be means tested.

'Bout time to. No reason SSI should be issued before age 70 unless the recipient has some disability that keeps him/her from gainful employment.

 

[LJ_Reloaded]

The retirement age will rise and the recipients will be means tested.

'Bout time to. No reason SSI should be issued before age 70 unless the recipient has some disability that keeps him/her from gainful employment.

Good deal. Now you'll have 65 year olds competing with younger people for jobs.

Just as I said 5 years ago on this very forum when people said the retirement wave was going to drive unemployment into the ground. There will be no retirement boom. I wish even HALF those fuckers who differed with me on this were still around to publicly eat those words.

I fucking warned people...

 

[1sickbastard]

Good deal. Now you'll have 65 year olds competing with younger people for jobs.

Just as I said 5 years ago on this very forum when people said the retirement wave was going to drive unemployment into the ground. There will be no retirement boom. I wish even HALF those fuckers who differed with me on this were still around to publicly eat those words.

I fucking warned people...

Presumably those people already HAVE jobs and are going to retire. they still can, but won't be getting their SSI for another 5 years.

But all this presumes congress will actually modify Social Security. They won't until it becomes a crisis...

 

[JAMESBJOHNSON]

How you save social security is investing the FICA Tax in real estate or gold NOT gubmint bonds. Let people apply the tax toward a homestead or gold/silver coins. In 2012 thats about $5800 per year, almost $500 a month.

 

[ChinaBandit]

Nah.

They'll just print more money.

This isn't a solution. Zimbabwe prints a lot of money. It only costs you $4,000,000 Zimbabwean dollars to buy some milk or whatever fucking ridiculous number it is.

 

[John Doe]

This isn't a solution. Zimbabwe prints a lot of money. It only costs you $4,000,000 Zimbabwean dollars to buy some milk or whatever fucking ridiculous number it is.

Yeah, buh JohnnyThauthage dthign' atk for a tholuthion. He athked what happenth when...and Kawen Kwafth ith righ'. Thath ith whah going tho happen. Among other thingth.

 

[Johnny_Ray_Wilson]

I am now 47. I have been paying into social security since I was 16. Since my mid twenties, I have given up on it being there for me if I reach retirement. Even so, by the time I get my first SS check (after cavity searches, background checks, recovery of lost SS payments into the system, etc), I will look at it and think, "Good thing I hid those mason jars of money in a good place."

Hopefully, cold hard cash will still be in circulation 20 yrs from now.

 

[Johnny_Ray_Wilson]

Yeah, buh JohnnyThauthage dthign' atk for a tholuthion. He athked what happenth when...and Kawen Kwafth ith righ'. Thath ith whah going tho happen. Among other thingth.

Thith ith not about dental coverath.

 

[John Doe]

Thith ith not about dental coverath.

I gah my thungue thtuck dtho a lamp potht.

 

[Johnny_Ray_Wilson]

I gah my thungue thtuck dtho a lamp potht.

Thath not two bwight. You thee my fwont tooth when you sthuck your thungue there?

 

[JAMESBJOHNSON]

I am now 47. I have been paying into social security since I was 16. Since my mid twenties, I have given up on it being there for me if I reach retirement. Even so, by the time I get my first SS check (after cavity searches, background checks, recovery of lost SS payments into the system, etc), I will look at it and think, "Good thing I hid those mason jars of money in a good place."

Hopefully, cold hard cash will still be in circulation 20 yrs from now.

Americans managed without much cash for plenty of years. And the time is close at hand when we wont have cash, we'll use iPads the gubmint can monitor and take its taxes at the time of sale. No more working under the table or yard sales or flea market cash transactions. Even hookers and drug dealers will pay taxes, cuz there wont be any cash.

And then we'll use barter to get around the iPad tax collector.

 

[4est_4est_Gump]

It will never go bust.

The recent "tax cuts" exploded the myth that it is an insurance program funded by our contributions, it is a tax for benefits program.

All they have to do is cut out "rich" beneficiaries and decrease benefits to the poor where and when it is politically possible.

It will never go bust, but like your health care, it will have to be rationed thanks to the greedy rich who consume all our pieces of pie...




... and we sure do love our pie.

 

[Wat_Tyler]

Now where is that lock-box . . . ?

 

[4est_4est_Gump]

... on the Comanchero wagon...






(There are two soldiers in the grave yard who witnessed it. Information like that should pay well.)

 

[RightField]

The retirement age will rise and the recipients will be means tested.

'Bout time to. No reason SSI should be issued before age 70 unless the recipient has some disability that keeps him/her from gainful employment.

The standards seem to have gotten looser lately because lots and lots more people are collecting SS from disability since they couldn't find jobs. Are these all legitimate or are some fraudulent?

 

[LJ_Reloaded]

Presumably those people already HAVE jobs and are going to retire. they still can, but won't be getting their SSI for another 5 years.

A lot of elderly are losing their jobs right before their time to collect pensions. It is a common tactic in the best of times and it's even worse now. They're going to be competing against people of your age group.

That is a problem that adds on TOP of the fact that elderly people are holding onto jobs now that could be given to others when they retire.

But all this presumes congress will actually modify Social Security. They won't until it becomes a crisis...

If they modify Social Security it is only going to hasten the inevitable.

Social Security is not the problem. The lack of jobs and the kleptocracy led by the rich ripping off the system, raking in trillions from American productivity while paying out peanuts, is by far the biggest hole in the Titanic.

The Plutocrats have turned Capitalism into a giant Pyramid scheme. Absolutely nothing you do to Social Security will ever fix that problem.