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Social Security, with a dedicated funding source can not "go broke". The absolute worst that will happen is it defaults on it's promised benefits. That means you're looking at a worst-case scenario of SS payments equaling about 75 percent of promised benefits in about 20 years (the height of Baby Boomers) if nothing is done.If I were king, chained CPI would be used to calculate SS colas, the cap on earnings would be removed with the overall rate lowered and SS taxes would be deductible. That's just to start. There would probably be some across the board cuts immediately as well.Nothing pisses me off more than hearing stories about people who spent decades working in the country with the greatest wealth expansion in the world's history pissing and moaning about how their Social Security just isn't enough to live on.
Just accepted my first job out of college, can't wait to see the huge amounts of money taken out of my paychecks!
Quote from: 8manpick on January 11, 2013, 06:08:28 PMJust accepted my first job out of college, can't wait to see the huge amounts of money taken out of my paychecks! what/where?
Quote from: rick daris on January 11, 2013, 06:26:54 PMQuote from: 8manpick on January 11, 2013, 06:08:28 PMJust accepted my first job out of college, can't wait to see the huge amounts of money taken out of my paychecks! what/where?Engineering position in Lenexa. Going to have to leave paradise (MHK) in a little over a month However, now that I am entering the workforce, get your damn hands off my money, gub'ment!
Quote from: 06wildcat on January 11, 2013, 05:04:23 PMSocial Security, with a dedicated funding source can not "go broke". The absolute worst that will happen is it defaults on it's promised benefits. That means you're looking at a worst-case scenario of SS payments equaling about 75 percent of promised benefits in about 20 years (the height of Baby Boomers) if nothing is done.If I were king, chained CPI would be used to calculate SS colas, the cap on earnings would be removed with the overall rate lowered and SS taxes would be deductible. That's just to start. There would probably be some across the board cuts immediately as well.Nothing pisses me off more than hearing stories about people who spent decades working in the country with the greatest wealth expansion in the world's history pissing and moaning about how their Social Security just isn't enough to live on.Why do you hate poor people?
Hey 8man, can you spot me a 20?
Quote from: fanningksu on January 11, 2013, 06:53:13 PMHey 8man, can you spot me a 20? Sure fanning, next HoJo afterPak