The Worstest Generation?

Political discussions
User avatar
AZGrizFan
Supporter
Supporter
Posts: 59959
Joined: Fri Jul 13, 2007 4:40 pm
I am a fan of: Sexual Chocolate
Location: Just to the right of center

Re: The Worstest Generation?

Post by AZGrizFan »

I wouldn’t feel entitled to SS if it wasn’t my money in the first place. And I’d forego it ALL right now if they’d let me opt out from the entire program right now.
"Ah fuck. You are right." KYJelly, 11/6/12
"The future must not belong to those who slander the prophet of Islam." Barack Obama, 9/25/12
Image
Ivytalk
Supporter
Supporter
Posts: 26827
Joined: Thu Mar 19, 2009 6:22 pm
I am a fan of: Salisbury University
Location: Republic of Western Sussex

Re: The Worstest Generation?

Post by Ivytalk »

AZGrizFan wrote:I wouldn’t feel entitled to SS if it wasn’t my money in the first place. And I’d forego it ALL right now if they’d let me opt out from the entire program right now.
Well, I’m retired, so my perspective is a bit different. We could get along quite well without taking SS at all, but now I’m inclined to start taking it at age 66, thus maxing out my own benefits. I’ll bet you a case of your favorite beer that they put in a means test by then. ;) The joke may be on all of us unless Congress actually addresses the issue.
“I’m tired and done.” — 89Hen 3/27/22.
User avatar
BDKJMU
Level5
Level5
Posts: 27897
Joined: Wed Jul 01, 2009 6:59 am
I am a fan of: JMU
A.K.A.: BDKJMU
Location: Philly Burbs

Re: The Worstest Generation?

Post by BDKJMU »

Ivytalk wrote:
AZGrizFan wrote:I wouldn’t feel entitled to SS if it wasn’t my money in the first place. And I’d forego it ALL right now if they’d let me opt out from the entire program right now.
Well, I’m retired, so my perspective is a bit different. We could get along quite well without taking SS at all, but now I’m inclined to start taking it at age 66, thus maxing out my own benefits. I’ll bet you a case of your favorite beer that they put in a means test by then. ;) The joke may be on all of us unless Congress actually addresses the issue.
SS Trustee report released about a month projected said the program will spend more money on benefits in 2018 than it will generate in income and tax revenue, 1st time SS has run a deficit since 1982. Program will continue running larger and larger deficits until it too becomes fully depleted in 2034.
After that, recipients will face a 25% cut in the bennnies

-Do nothing- 25% cut in bennies isn't the end of the world.
-Raise the full benefit retirement age from 67 to 70. Would extend the solvency date I imagine several decades-After all, when the program began with a retirement age of 65 the avg life expectancy was something like 62. Now its around 78..

The financial problem with SS is peanuts compared to the financial problem with medicare..
..peacefully and patriotically make your voices heard..
..But you have to go home now. We have to have peace…
..I know how you feel, but go home, and go home in peace.
JMU Football: 2022 & 2023 Sun Belt East Champions.
User avatar
JohnStOnge
Egalitarian
Egalitarian
Posts: 20313
Joined: Sun Jan 03, 2010 5:47 pm
I am a fan of: McNeese State
A.K.A.: JohnStOnge

Re: The Worstest Generation?

Post by JohnStOnge »

AZGrizFan wrote:I wouldn’t feel entitled to SS if it wasn’t my money in the first place. And I’d forego it ALL right now if they’d let me opt out from the entire program right now.
My understanding is that your money went to provide for older people. My understanding is that it has never been a program whereby you put your money up and get it later. It has always just been an income transfer from the young to the old.
Well, I believe that I must tell the truth
And say things as they really are
But if I told the truth and nothing but the truth
Could I ever be a star?

Deep Purple: No One Came
Image
Ivytalk
Supporter
Supporter
Posts: 26827
Joined: Thu Mar 19, 2009 6:22 pm
I am a fan of: Salisbury University
Location: Republic of Western Sussex

Re: The Worstest Generation?

Post by Ivytalk »

BDKJMU wrote:
Ivytalk wrote:
Well, I’m retired, so my perspective is a bit different. We could get along quite well without taking SS at all, but now I’m inclined to start taking it at age 66, thus maxing out my own benefits. I’ll bet you a case of your favorite beer that they put in a means test by then. ;) The joke may be on all of us unless Congress actually addresses the issue.
SS Trustee report released about a month projected said the program will spend more money on benefits in 2018 than it will generate in income and tax revenue, 1st time SS has run a deficit since 1982. Program will continue running larger and larger deficits until it too becomes fully depleted in 2034.
After that, recipients will face a 25% cut in the bennnies

-Do nothing- 25% cut in bennies isn't the end of the world.
-Raise the full benefit retirement age from 67 to 70. Would extend the solvency date I imagine several decades-After all, when the program began with a retirement age of 65 the avg life expectancy was something like 62. Now its around 78..

The financial problem with SS is peanuts compared to the financial problem with medicare..
If SS is fully depleted in 2034, how will recipients still get 75% of their benefits?
“I’m tired and done.” — 89Hen 3/27/22.
User avatar
css75
Level3
Level3
Posts: 2515
Joined: Wed Jan 24, 2018 10:45 pm

Re: The Worstest Generation?

Post by css75 »

JohnStOnge wrote:
AZGrizFan wrote:I wouldn’t feel entitled to SS if it wasn’t my money in the first place. And I’d forego it ALL right now if they’d let me opt out from the entire program right now.
My understanding is that your money went to provide for older people. My understanding is that it has never been a program whereby you put your money up and get it later. It has always just been an income transfer from the young to the old.
It was and is a glorified pyramid scheme and it is bottoming out.


Sent from my iPad using Tapatalk
HI54UNI
Supporter
Supporter
Posts: 12387
Joined: Fri Jul 13, 2007 9:39 pm
I am a fan of: Firing Mark Farley
A.K.A.: Bikinis for JSO
Location: The Panther State

Re: The Worstest Generation?

Post by HI54UNI »

Ivytalk wrote:
BDKJMU wrote: SS Trustee report released about a month projected said the program will spend more money on benefits in 2018 than it will generate in income and tax revenue, 1st time SS has run a deficit since 1982. Program will continue running larger and larger deficits until it too becomes fully depleted in 2034.
After that, recipients will face a 25% cut in the bennnies

-Do nothing- 25% cut in bennies isn't the end of the world.
-Raise the full benefit retirement age from 67 to 70. Would extend the solvency date I imagine several decades-After all, when the program began with a retirement age of 65 the avg life expectancy was something like 62. Now its around 78..

The financial problem with SS is peanuts compared to the financial problem with medicare..
If SS is fully depleted in 2034, how will recipients still get 75% of their benefits?
I believe it will cash flow 75% and the other 25% of benefits being paid are from the surplus that has been built up. So it really is the surplus that is depleted in 2034.
If fascism ever comes to America, it will come in the name of liberalism. Ronald Reagan, 1975.

Progressivism is cancer

All my posts are satire
User avatar
BDKJMU
Level5
Level5
Posts: 27897
Joined: Wed Jul 01, 2009 6:59 am
I am a fan of: JMU
A.K.A.: BDKJMU
Location: Philly Burbs

Re: The Worstest Generation?

Post by BDKJMU »

HI54UNI wrote:
Ivytalk wrote:
If SS is fully depleted in 2034, how will recipients still get 75% of their benefits?
I believe it will cash flow 75% and the other 25% of benefits being paid are from the surplus that has been built up. So it really is the surplus that is depleted in 2034.
Correct. I worded it wrong. Fund surplus that was built up in prior decades will hit zero. By law fund can't run a deficit. So bennies will have to entirely be funded by incoming taxes. 2034 incoming taxes estimated will only cover 75% of benefits.

Just looked up avg life expectancy US now about 79. So about 16 years higher than when SS started.
Image
https://www.mercatus.org/publication/ho ... ty-retiree
Its headed to 2 to 1. There's no way around it. Will have to raise the age to draw full SS bennies to at least 70. Its going to be that, or the benefit cuts..
..peacefully and patriotically make your voices heard..
..But you have to go home now. We have to have peace…
..I know how you feel, but go home, and go home in peace.
JMU Football: 2022 & 2023 Sun Belt East Champions.
User avatar
AZGrizFan
Supporter
Supporter
Posts: 59959
Joined: Fri Jul 13, 2007 4:40 pm
I am a fan of: Sexual Chocolate
Location: Just to the right of center

Re: The Worstest Generation?

Post by AZGrizFan »

JohnStOnge wrote:
AZGrizFan wrote:I wouldn’t feel entitled to SS if it wasn’t my money in the first place. And I’d forego it ALL right now if they’d let me opt out from the entire program right now.
My understanding is that your money went to provide for older people. My understanding is that it has never been a program whereby you put your money up and get it later. It has always just been an income transfer from the young to the old.
Yes, thanks Captain Obvious. :dunce: I’d still forego EVERY DIME I’ve put in if they’d let me opt out right now and stop contributing.
"Ah fuck. You are right." KYJelly, 11/6/12
"The future must not belong to those who slander the prophet of Islam." Barack Obama, 9/25/12
Image
houndawg
Level5
Level5
Posts: 23236
Joined: Tue Oct 14, 2008 1:14 pm
I am a fan of: SIU
A.K.A.: houndawg
Location: Egypt

Re: The Worstest Generation?

Post by houndawg »

Gil Dobie wrote:
Ibanez wrote: I’ve noticed this as well. I’ve learned a lot from the old GenXers and am fortunate that I’m an older millennial and have grown up with Gen Xers. I’ve noticed the younger millennial at work are too immature and idealistic. I’m not sure if it’s ignorance or what but the younger ones seem to hand no concept about how the world actually works. They can’t reconcile idealism with reality.


Sent from my iPhone using Tapatalk
On the other hand, I've had millennials as supervisors and had not problem with that. I'm still going against the grain, and stating it's not generational, there are many, many exceptions to the rules and the research on how people from each generation acts in the work place. I don't look at what 1 millennial says as being the norm for all, same with Gen x and Boomers. I've seen hard workers, people open to change, and good leaders at every level and job I've been associated with. I've also see normal workers and crappy workers from each of these so called generations.
this :nod:
The best way to keep people passive and obedient is to strictly limit the spectrum of opinion but allow very lively debate within that spectrum - Noam Chomsky
User avatar
AZGrizFan
Supporter
Supporter
Posts: 59959
Joined: Fri Jul 13, 2007 4:40 pm
I am a fan of: Sexual Chocolate
Location: Just to the right of center

Re: The Worstest Generation?

Post by AZGrizFan »

Of course there’s exceptions to the rule. But it IS, for the most part, a rule. Otherwise, we wouldn’t worry about or discuss the “exceptions”.
"Ah fuck. You are right." KYJelly, 11/6/12
"The future must not belong to those who slander the prophet of Islam." Barack Obama, 9/25/12
Image
houndawg
Level5
Level5
Posts: 23236
Joined: Tue Oct 14, 2008 1:14 pm
I am a fan of: SIU
A.K.A.: houndawg
Location: Egypt

Re: The Worstest Generation?

Post by houndawg »

BDKJMU wrote:
Ivytalk wrote:
Well, I’m retired, so my perspective is a bit different. We could get along quite well without taking SS at all, but now I’m inclined to start taking it at age 66, thus maxing out my own benefits. I’ll bet you a case of your favorite beer that they put in a means test by then. ;) The joke may be on all of us unless Congress actually addresses the issue.
SS Trustee report released about a month projected said the program will spend more money on benefits in 2018 than it will generate in income and tax revenue, 1st time SS has run a deficit since 1982. Program will continue running larger and larger deficits until it too becomes fully depleted in 2034.
After that, recipients will face a 25% cut in the bennnies

-Do nothing- 25% cut in bennies isn't the end of the world.
-Raise the full benefit retirement age from 67 to 70. Would extend the solvency date I imagine several decades-After all, when the program began with a retirement age of 65 the avg life expectancy was something like 62. Now its around 78..

The financial problem with SS is peanuts compared to the financial problem with medicare..
Good ol' BD, ever the drama-queen :roll: ......there is nothing wrong with SS that Congress keeping their hands out of it wouldn't solve.
The best way to keep people passive and obedient is to strictly limit the spectrum of opinion but allow very lively debate within that spectrum - Noam Chomsky
User avatar
Winterborn
Supporter
Supporter
Posts: 8812
Joined: Wed May 25, 2016 2:33 pm
I am a fan of: Beer and Diesel Pickups
Location: Wherever I hang my hat

Re: The Worstest Generation?

Post by Winterborn »

AZGrizFan wrote: I’d still forego EVERY DIME I’ve put in if they’d let me opt out right now and stop contributing.
I would love the choice to not ever have to pay into it again and would happily pay a reasonable fee to get out of it permanently. It is just another tax towards something I will never be able to use, as it will be insolvent long before I reach retirement age. All my retirement planning that I am doing is taking into account zero befits from SS or Medicare. Not sure how anybody of the younger generations can think that they will get something out of it when they retire.
“The best of all things is to learn. Money can be lost or stolen, health and strength may fail, but what you have committed to your mind is yours forever.” – Louis L’Amour

“Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.” - G. Michael Hopf

"I am neither especially clever nor especially gifted. I am only very, very curious.” – Albert Einstein
User avatar
JohnStOnge
Egalitarian
Egalitarian
Posts: 20313
Joined: Sun Jan 03, 2010 5:47 pm
I am a fan of: McNeese State
A.K.A.: JohnStOnge

Re: The Worstest Generation?

Post by JohnStOnge »

AZGrizFan wrote:
JohnStOnge wrote:
My understanding is that your money went to provide for older people. My understanding is that it has never been a program whereby you put your money up and get it later. It has always just been an income transfer from the young to the old.
Yes, thanks Captain Obvious. :dunce: I’d still forego EVERY DIME I’ve put in if they’d let me opt out right now and stop contributing.
Not me. I'd be satisfied if they gave me back what I've put in without adjusting for inflation though.

Some generation is going to have to take the hit.
Well, I believe that I must tell the truth
And say things as they really are
But if I told the truth and nothing but the truth
Could I ever be a star?

Deep Purple: No One Came
Image
User avatar
BDKJMU
Level5
Level5
Posts: 27897
Joined: Wed Jul 01, 2009 6:59 am
I am a fan of: JMU
A.K.A.: BDKJMU
Location: Philly Burbs

Re: The Worstest Generation?

Post by BDKJMU »

houndawg wrote:
BDKJMU wrote: SS Trustee report released about a month projected said the program will spend more money on benefits in 2018 than it will generate in income and tax revenue, 1st time SS has run a deficit since 1982. Program will continue running larger and larger deficits until it too becomes fully depleted in 2034.
After that, recipients will face a 25% cut in the bennnies

-Do nothing- 25% cut in bennies isn't the end of the world.
-Raise the full benefit retirement age from 67 to 70. Would extend the solvency date I imagine several decades-After all, when the program began with a retirement age of 65 the avg life expectancy was something like 62. Now its around 78..

The financial problem with SS is peanuts compared to the financial problem with medicare..
Good ol' BD, ever the drama-queen :roll: ......there is nothing wrong with SS that Congress keeping their hands out of it wouldn't solve.
:dunce: Less than 3 workers per retiree, headed to 2...
..peacefully and patriotically make your voices heard..
..But you have to go home now. We have to have peace…
..I know how you feel, but go home, and go home in peace.
JMU Football: 2022 & 2023 Sun Belt East Champions.
houndawg
Level5
Level5
Posts: 23236
Joined: Tue Oct 14, 2008 1:14 pm
I am a fan of: SIU
A.K.A.: houndawg
Location: Egypt

Re: The Worstest Generation?

Post by houndawg »

BDKJMU wrote:
houndawg wrote:
Good ol' BD, ever the drama-queen :roll: ......there is nothing wrong with SS that Congress keeping their hands out of it wouldn't solve.
:dunce: Less than 3 workers per retiree, headed to 2...
remove the salary cap. :silly:
The best way to keep people passive and obedient is to strictly limit the spectrum of opinion but allow very lively debate within that spectrum - Noam Chomsky
User avatar
BDKJMU
Level5
Level5
Posts: 27897
Joined: Wed Jul 01, 2009 6:59 am
I am a fan of: JMU
A.K.A.: BDKJMU
Location: Philly Burbs

Re: The Worstest Generation?

Post by BDKJMU »

houndawg wrote:
BDKJMU wrote: :dunce: Less than 3 workers per retiree, headed to 2...
remove the salary cap. :silly:
Would solve nothing. What you are paid in bennies in based off what you paid in.
..peacefully and patriotically make your voices heard..
..But you have to go home now. We have to have peace…
..I know how you feel, but go home, and go home in peace.
JMU Football: 2022 & 2023 Sun Belt East Champions.
User avatar
AZGrizFan
Supporter
Supporter
Posts: 59959
Joined: Fri Jul 13, 2007 4:40 pm
I am a fan of: Sexual Chocolate
Location: Just to the right of center

Re: The Worstest Generation?

Post by AZGrizFan »

houndawg wrote:
BDKJMU wrote: :dunce: Less than 3 workers per retiree, headed to 2...
remove the salary cap. :silly:
The solution always put forth by those who don’t make shit. :nod:
"Ah fuck. You are right." KYJelly, 11/6/12
"The future must not belong to those who slander the prophet of Islam." Barack Obama, 9/25/12
Image
houndawg
Level5
Level5
Posts: 23236
Joined: Tue Oct 14, 2008 1:14 pm
I am a fan of: SIU
A.K.A.: houndawg
Location: Egypt

Re: The Worstest Generation?

Post by houndawg »

BDKJMU wrote:
houndawg wrote:
remove the salary cap. :silly:
Would solve nothing. What you are paid in bennies in based off what you paid in.
Commingle funds with the lawmakers system.
The best way to keep people passive and obedient is to strictly limit the spectrum of opinion but allow very lively debate within that spectrum - Noam Chomsky
Post Reply