Author Topic: "Social Security" is a joke.  (Read 289 times)

Trauma-san

"Social Security" is a joke.
« on: October 19, 2004, 09:45:05 PM »
What a fucking JOKE this program is. 

O.K., they found the "Social Security" program, which is basically a way for the government to force you to save money, so you can have at least some income when you retire.  I actually applaud that, because lord knows plenty of people don't plan for their future, so I understand the purpose and the need for the program.

Next, they start collecting 15.3 percent of everyone's paycheck, to fund it.  They collect through the history of the program, much, much, MUCH MUCH more than they needed, in order to pay the folks at retirement age their check.  No problem there.

The problem comes along when they spend the fucking extra money on other programs, instead of either saving it, or raising the checks for individuals.

Lemme explain to you how severe the problem is.

the government, like I said, takes 15.3 percent of your check. 

Lessay you're a punk ass kid, flipping burgers @ McDonalds, for 7.00 an hour.  You work full time. 

If you were allowed, by the government, to invest 2 percent of that 15.3 into a private mutual fund; by the time you retired, at 70, you would have 950,000 dollars in that bank account.  You could earn 6,400 dollars a month just off of interest, not even touching the principle.

So, with approx. 24 dollars a month invested in a mutual fund, you could be not only a millionaire @ retirement, but be earning 5 or 6 times what you earned your entire life.  All of this, even if you never got a raise off of the 7 bucks you were making!

Now, the government doesn't take 2 percent.  They take 15 percent! And what do you get at retirement? Do you get a million dollars in the bank? Hell no, you don't get shit.  Do you get 6 times your pay, at retirement, every month? Hell no, you get at most 1100 a month, and that's if you had an amazing job and paid in hundreds of thousands of dollars. 

The system is FUCKED.  Those of you against letting people CHOOSE to privatize a portion of their social security money are crazy.  I say bring it on before I get too fucking old to make some interest! 

Argentina did this, btw.  They let people choose if they wanted to privatize it.  It's been a huge success, 98 percent of the public choose to privatize their retirement holdings. 

Yet, I see people against it, I guess because Bush is for it.  Run the numbers. 
 

Ras Kass' Toothpick

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Re: "Social Security" is a joke.
« Reply #1 on: October 20, 2004, 02:26:22 PM »
I hate to see those deductions for C.P.P. and E.I. (Canadian Pension Plan & Employment Insurance) cause I know I could use that money much better than the government.  I'm responsible, I save money so I can have it if I lose my job.  I save money so I have money when I retire.
It's depressing seeing all the money I pay to the government and noticing how little it benefits me.
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*Jamal*

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Re: "Social Security" is a joke.
« Reply #2 on: October 20, 2004, 05:25:02 PM »
I agree with what you're saying. Social Security actually encourages people to retire sooner than they would have planned on. On top of that, like you said, the money is not invested properly, so there's no money in interest gained. The end result is actually a reduction in growth rate of the U.S. economy.
 

Doggystylin

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Re: "Social Security" is a joke.
« Reply #3 on: October 20, 2004, 05:46:42 PM »
i say we X it
 

jeromechickenbone

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Re: "Social Security" is a joke.
« Reply #4 on: October 20, 2004, 07:56:56 PM »
I feel you. Thats my biggest beef with the Democratic Party.  The government plays WAY to big a role in people's everyday lives. I believe those who work hard should enjoy the fruits of their labor. Of course I think everyone deserves a fair shot, but if everyone is given equal amenities regardless of job and education, where's the motivation? That wreaks of communism. I'm all for paying taxes, and yes its painful to see how much i pay every 2 weeks, but at least its going to something worthwhile.  The sickening part of social security is that WE are funding it, but there is a very good chance that that shit will be EVAPORATED long before we ever get it back.
 

white Boy

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Re: "Social Security" is a joke.
« Reply #5 on: October 20, 2004, 08:04:10 PM »
so true
 

Fathom

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Re: "Social Security" is a joke.
« Reply #6 on: October 21, 2004, 05:20:52 PM »
The way Social Secruity is being ran now it will go bankrupt before 2050.
 

Trauma-san

Re: "Social Security" is a joke.
« Reply #7 on: October 21, 2004, 09:12:17 PM »
That was great in the 3rd debate.  Bush's response was that we need to let people privatize part of the social security savings, so they can make better returns on it (like I outlined above), and Kerry's response was we fixed it last time, we'll just fix it this time.  He literally said "We'll just fix it".  Unbelievable.