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I wouldn't assume that taxes and other expenses employers are required to pay on behalf of employees (unemployment, SS, etc.) would necessarily be returned to employees if they were eliminated. It's just as likely they would be returned to shareholders in the form of increased profits and dividends, or reinvested in the business.
 
Posts: 2855 | Location: WI | Registered: December 29, 2012Reply With QuoteReport This Post
Honky Lips
Picture of FenderBender
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quote:
Originally posted by rscalzo:
quote:
Originally posted by Gustofer:
quote:
Originally posted by rscalzo:
quote:
About 1/4th of the boomer generation are millionaires, there are households getting 120k a year in social security


A total bunch of crap.

The maximum Social Security payment for 2026 is $5,181 per month if you retire at age 70,....

High Earnings: You must have earned the Social Security taxable maximum ($184,500 for 2026) for at least 35 years.

Not necessarily questioning you, but you might want to check your numbers.

According to my Social Security account/website, I'll be just under that max amount at age 70. While I do well now, I haven't made that for the past 35 years.

And those complaining that higher income earners are getting more upon retirement seem to fail to understand that they are also putting more IN during their working years.

I agree that SS is a mess with few ways to fix it that are palatable. My (partial) solution is to raise the full retirement age to 70ish. Life expectancy ages have gone way up since the 1930s. Another (partial) solution is to limit withdrawals to total deposits. Many/most people are getting far more than they put in.


You do realise that those numbers are estimates. My numbers were nowhere near what was listed on their website upon retirement.


5181*12=62172
62172*2=124344

you're right it is a bunch of crap, we're shorting the truth by $4344.


_____________________________________________
Proverbs 3:31 "Envy thou not the oppressor, and choose none of his ways."
 
Posts: 9296 | Location: Great Basin | Registered: July 24, 2009Reply With QuoteReport This Post
Down the Rabbit Hole
Picture of Jupiter
posted Hide Post
quote:
Originally posted by reloader-1:
The US deficit was $1.7 trillion in 2025, with Social Security costing $1.6 trillion.



You could totally eliminate SS and the criminals running this country would still find ways to spend/steal every penny and much much more.

Just take a gander at the abuse that took place with the record setting 2.3 trillion dollar spending package contained in the Consolidated Appropriations Act. Most of this money went to big corporations and we're still paying the price with record inflation.
SS is not the problem. Crony Capitalism is, period.


Diligentia, Vis, Celeritas

"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."
-- George Orwell

 
Posts: 5546 | Location: North Mississippi | Registered: August 09, 2002Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
quote:
Originally posted by bigwagon:
I wouldn't assume that taxes and other expenses employers are required to pay on behalf of employees (unemployment, SS, etc.) would necessarily be returned to employees if they were eliminated. It's just as likely they would be returned to shareholders in the form of increased profits and dividends, or reinvested in the business.

So the business of business is business!
Who knew?
But I don’t think that’s a bad thing…
I think we need less government interference in our lives and choices.



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor
 
Posts: 26975 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
His Royal Hiney
Picture of Rey HRH
posted Hide Post
quote:
Originally posted by Jupiter:
quote:
Originally posted by reloader-1:
The US deficit was $1.7 trillion in 2025, with Social Security costing $1.6 trillion.



You could totally eliminate SS and the criminals running this country would still find ways to spend/steal every penny and much much more.



Bingo! It’s like someone on the Titanic as it’s sinking, complaining about the boomers eating at the buffet table.



"It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946.
 
Posts: 21704 | Location: The Free State of Arizona - Ditat Deus | Registered: March 24, 2011Reply With QuoteReport This Post
Honky Lips
Picture of FenderBender
posted Hide Post
quote:
Originally posted by Rey HRH:
quote:
Originally posted by Jupiter:
quote:
Originally posted by reloader-1:
The US deficit was $1.7 trillion in 2025, with Social Security costing $1.6 trillion.



You could totally eliminate SS and the criminals running this country would still find ways to spend/steal every penny and much much more.



Bingo! It’s like someone on the Titanic as it’s sinking, complaining about the boomers eating at the buffet table.


Well, in that case lets just all sit on our hands, roll over, and die.


_____________________________________________
Proverbs 3:31 "Envy thou not the oppressor, and choose none of his ways."
 
Posts: 9296 | Location: Great Basin | Registered: July 24, 2009Reply With QuoteReport This Post
Down the Rabbit Hole
Picture of Jupiter
posted Hide Post
quote:
Originally posted by FenderBender:

Well, in that case lets just all sit on our hands, roll over, and die.


I would rather see your passion for a balanced budget directed towards the Corporate Welfare crowd first before going after a lot of hard working Americans who were forced to pay into SS their entire working life.


Diligentia, Vis, Celeritas

"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."
-- George Orwell

 
Posts: 5546 | Location: North Mississippi | Registered: August 09, 2002Reply With QuoteReport This Post
Thank you
Very little
Picture of HRK
posted Hide Post
Maybe the GenX, Millennials should just sit back and wait, all us "Boomers" are set to leave your generation with more wealth than ever before.

Keep pissing on our SS payments and we'll give it all to a registered charity, all we need is a Pint a day.......

Pay your rent, you'll be mega wealthy from all our hard work and effort, or maybe not, if you fuck with SSI.... Big Grin

Link

Gen X and Millennials Will Inherit Trillions in Real Estate Over the Next Decade

Baby boomers and older Americans have spent decades amassing one of the largest concentrations of private wealth in history. Now, that wealth is starting to be passed down to the next generation—and it’s having a ripple effect across the high-end property market.

Over the next decade, roughly 1.2 million individuals with net worths of $5 million or more are projected to pass down more than $38 trillion globally, according to a new report from brokerage Coldwell Banker Global Luxury reviewed exclusively by The Wall Street Journal.....
 
Posts: 27666 | Location: Gunshine State | Registered: November 07, 2008Reply With QuoteReport This Post
Honky Lips
Picture of FenderBender
posted Hide Post
quote:
Originally posted by Jupiter:
quote:
Originally posted by FenderBender:

Well, in that case lets just all sit on our hands, roll over, and die.


I would rather see your passion for a balanced budget directed towards the Corporate Welfare crowd first before going after a lot of hard working Americans who were forced to pay into SS their entire working life.


Allow me to assuage your concern, I'm of the opinion any dollars spent on any function not laid out specifically in the constitution is illegitimate. What's more I agree with the founders who found the government to be suspect in it's existence at all are correct.


_____________________________________________
Proverbs 3:31 "Envy thou not the oppressor, and choose none of his ways."
 
Posts: 9296 | Location: Great Basin | Registered: July 24, 2009Reply With QuoteReport This Post
Honky Lips
Picture of FenderBender
posted Hide Post
quote:
Originally posted by HRK:
Maybe the GenX, Millennials should just sit back and wait, all us "Boomers" are set to leave your generation with more wealth than ever before.

Keep pissing on our SS payments and we'll give it all to a registered charity, all we need is a Pint a day.......

Pay your rent, you'll be mega wealthy from all our hard work and effort, or maybe not, if you fuck with SSI.... Big Grin

Link

Gen X and Millennials Will Inherit Trillions in Real Estate Over the Next Decade

Baby boomers and older Americans have spent decades amassing one of the largest concentrations of private wealth in history. Now, that wealth is starting to be passed down to the next generation—and it’s having a ripple effect across the high-end property market.

Over the next decade, roughly 1.2 million individuals with net worths of $5 million or more are projected to pass down more than $38 trillion globally, according to a new report from brokerage Coldwell Banker Global Luxury reviewed exclusively by The Wall Street Journal.....


That number assumes there will be demand for those houses. If people can't have children, which they aren't of you bother to look at the demographics, the aggregate demand will plummet. If you want to see what will happen, not due to any depressed economic factors, but simply because we have significantly fewer human beings look at Detroit real estate.


_____________________________________________
Proverbs 3:31 "Envy thou not the oppressor, and choose none of his ways."
 
Posts: 9296 | Location: Great Basin | Registered: July 24, 2009Reply With QuoteReport This Post
His Royal Hiney
Picture of Rey HRH
posted Hide Post
quote:
Originally posted by FenderBender:
quote:
Originally posted by Rey HRH:
quote:
Originally posted by Jupiter:
quote:
Originally posted by reloader-1:
The US deficit was $1.7 trillion in 2025, with Social Security costing $1.6 trillion.



You could totally eliminate SS and the criminals running this country would still find ways to spend/steal every penny and much much more.



Bingo! It’s like someone on the Titanic as it’s sinking, complaining about the boomers eating at the buffet table.


Well, in that case lets just all sit on our hands, roll over, and die.


If you're going to point to where the problem is not, then, yes, you might as well sit on your hands because coming up with solutions to fix something that really isn't the problem isn't going to solve the actual problem.

Do you not see that?



"It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946.
 
Posts: 21704 | Location: The Free State of Arizona - Ditat Deus | Registered: March 24, 2011Reply With QuoteReport This Post
Honky Lips
Picture of FenderBender
posted Hide Post
quote:
Originally posted by Rey HRH:
quote:
Originally posted by FenderBender:
quote:
Originally posted by Rey HRH:
quote:
Originally posted by Jupiter:
quote:
Originally posted by reloader-1:
The US deficit was $1.7 trillion in 2025, with Social Security costing $1.6 trillion.



You could totally eliminate SS and the criminals running this country would still find ways to spend/steal every penny and much much more.



Bingo! It’s like someone on the Titanic as it’s sinking, complaining about the boomers eating at the buffet table.


Well, in that case lets just all sit on our hands, roll over, and die.


If you're going to point to where the problem is not, then, yes, you might as well sit on your hands because coming up with solutions to fix something that really isn't the problem isn't going to solve the actual problem.

Do you not see that?


What's your solution to a fire, Rey?


_____________________________________________
Proverbs 3:31 "Envy thou not the oppressor, and choose none of his ways."
 
Posts: 9296 | Location: Great Basin | Registered: July 24, 2009Reply With QuoteReport This Post
Imagination and focus
become reality
posted Hide Post
quote:
Originally posted by FenderBender:
quote:
Originally posted by Rey HRH:
quote:
Originally posted by Jupiter:
quote:
Originally posted by reloader-1:
The US deficit was $1.7 trillion in 2025, with Social Security costing $1.6 trillion.



You could totally eliminate SS and the criminals running this country would still find ways to spend/steal every penny and much much more.



Bingo! It’s like someone on the Titanic as it’s sinking, complaining about the boomers eating at the buffet table.


Well, in that case lets just all sit on our hands, roll over, and die.


You first.
 
Posts: 7063 | Location: Northwest Indiana | Registered: August 15, 2004Reply With QuoteReport This Post
His Royal Hiney
Picture of Rey HRH
posted Hide Post
quote:
Originally posted by FenderBender:
quote:
Originally posted by Jupiter:
quote:
Originally posted by reloader-1:
The US deficit was $1.7 trillion in 2025, with Social Security costing $1.6 trillion.



You could totally eliminate SS and the criminals running this country would still find ways to spend/steal every penny and much much more.



What's your solution to a fire, Rey?


Just because I don’t have a solution to the problem doesn’t mean the solution you’re proposing is correct. You may be wanting to blow up the dam downstream of the fire to try to put the fire out.



"It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946.
 
Posts: 21704 | Location: The Free State of Arizona - Ditat Deus | Registered: March 24, 2011Reply With QuoteReport This Post
Member
posted Hide Post
I view SS as mandated savings.

Looking from the perspective of a business owner, my contribution, much like Unemployment Insurance, is simply a cost of doing business.

My Father-in-law, a WWII B17 pilot, left the service and managed the family business in landscaping. He is very locally known for his statement:

“If it was not for taxes and insurance, one could make a good living.”

In over 20 years of employing people, my contribution to their SS has been well over $3MM plus another chunk for Medicare. In my business, medical laboratory, you must hire the best qualified people for the different positions. Our product, diagnostic laboratory results, depends on everything being done correctly and on time: couriers, specimen processors, transporters and clinical technologists require the top end of pay scales.

While I don’t agree with the method, I do agree that required savings for retirement needs to be mandatory. Humans tend to ignore savings and provide for current wants and needs. Without a savings mandate… well, all gets spent - human nature.

For discussion - purchasing power of a dollar is vastly different than when I began work as a soda jerk in a drugstore in 1958 by a factor of 11! In calculating SS, the dollar value due to inflation isn’t considered - should it be?

Finally, if not SS as mandated savings, please propose alternative systems…


No quarter
.308/.223
 
Posts: 2527 | Location: Central Florida.  | Registered: March 04, 2009Reply With QuoteReport This Post
Honky Lips
Picture of FenderBender
posted Hide Post
quote:
Originally posted by Rey HRH:

Just because I don’t have a solution to the problem doesn’t mean the solution you’re proposing is correct. You may be wanting to blow up the dam downstream of the fire to try to put the fire out.


quote:

"No matter how disastrously some policy has turned out, anyone who criticizes it can expect to hear: 'But what would you replace it with?' When you put out a fire, what do you replace it with?

Dr.Thomas Sowell


_____________________________________________
Proverbs 3:31 "Envy thou not the oppressor, and choose none of his ways."
 
Posts: 9296 | Location: Great Basin | Registered: July 24, 2009Reply With QuoteReport This Post
His Royal Hiney
Picture of Rey HRH
posted Hide Post
quote:
Originally posted by FenderBender:
quote:
Originally posted by Rey HRH:

Just because I don’t have a solution to the problem doesn’t mean the solution you’re proposing is correct. You may be wanting to blow up the dam downstream of the fire to try to put the fire out.


quote:

"No matter how disastrously some policy has turned out, anyone who criticizes it can expect to hear: 'But what would you replace it with?' When you put out a fire, what do you replace it with?

Dr.Thomas Sowell


That’s a nice quote from Sowell. Do you have a point regarding me? Did you see me ask anywhere, “what do you replace the fire with?

Do you even actually understand the quote? Because you trying to apply it to our back and forth indicates to me you don’t because it actually doesn’t apply to our conversation.



"It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946.
 
Posts: 21704 | Location: The Free State of Arizona - Ditat Deus | Registered: March 24, 2011Reply With QuoteReport This Post
No More
Mr. Nice Guy
posted Hide Post
quote:
Originally posted by tleddy:
Finally, if not SS as mandated savings, please propose alternative systems…


I don't like mandatory things imposed by the government. But, the least offensive would be a mandatory privately held retirement account, e.g. 401k.

One of my daughters worked in the restaurant industry for a decade managing a variety of locations. One of the companies instituted an automatic 401k for new employees, with an initial employee contribution of something like 2% or 5%, and the company matched. The employee could opt-out, but if they did nothing then the account was established for them automatically when hired.

She reported that virtually none of the employees opted out, primarily out of laziness. When the 401k was optional at other restaurants, it was the reverse where virtually nobody opted-in.

But I would prefer no such mandates.
 
Posts: 11174 | Location: On the mountain off the grid | Registered: February 25, 2002Reply With QuoteReport This Post
Honky Lips
Picture of FenderBender
posted Hide Post
quote:
Originally posted by Rey HRH:
quote:
Originally posted by FenderBender:
quote:
Originally posted by Rey HRH:

Just because I don’t have a solution to the problem doesn’t mean the solution you’re proposing is correct. You may be wanting to blow up the dam downstream of the fire to try to put the fire out.


quote:

"No matter how disastrously some policy has turned out, anyone who criticizes it can expect to hear: 'But what would you replace it with?' When you put out a fire, what do you replace it with?

Dr.Thomas Sowell


That’s a nice quote from Sowell. Do you have a point regarding me? Did you see me ask anywhere, “what do you replace the fire with?

Do you even actually understand the quote? Because you trying to apply it to our back and forth indicates to me you don’t because it actually doesn’t apply to our conversation.


What I'm applying it to is Social security in it's entirety. My solution as I've pointed out a number of times in this very thread is to eliminate the whole thing.


_____________________________________________
Proverbs 3:31 "Envy thou not the oppressor, and choose none of his ways."
 
Posts: 9296 | Location: Great Basin | Registered: July 24, 2009Reply With QuoteReport This Post
Peace through
superior firepower
Picture of parabellum
posted Hide Post
Nested quotes, guys. Let's take it easy with the quotes of quotes of quotes. This eats up a lot of real estate on the page, needlessly.
 
Posts: 114167 | Registered: January 20, 2000Reply With QuoteReport This Post
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