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Social Security insolvency VS Lottery Solvency Login/Join 
Save an Elephant
Kill a Poacher
Picture of urbanwarrior238
posted
Just thinking out loud.

How is it that every day millions of people pay into the SS system and yet it is expected to run out of money in 10 years.

But it only takes one day for a citizen to walk into a Quiky-Mart, pays 2$ for a ticket and walks out a millionaire or even a billionaire.

And the Lottery is not running out of money!

Just food for thought. Roll Eyes


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Posts: 1468 | Location: Escaped from Kalifornia to Arizona February 2022! | Registered: March 02, 2006Reply With QuoteReport This Post
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quote:
How is it that every day millions of people pay into the SS system and yet it is expected to run out of money in 10 years.


I have been hearing that for 50 years!


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Posts: 4376 | Location: Nashville, Tennessee | Registered: December 16, 2004Reply With QuoteReport This Post
Void Where Prohibited
Picture of WaterburyBob
posted Hide Post
Different business models.
The Lottery brings in more money than it pays out.



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Posts: 16731 | Location: Under the Boot of Tyranny in Connectistan | Registered: February 02, 2005Reply With QuoteReport This Post
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and a good cigar
Picture of Johnny 3eagles
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If the Federal government would stop taking and spending money out of the Social Security Trust Fund, there would be no issue.





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Posts: 7376 | Location: Arkansas  | Registered: November 06, 2010Reply With QuoteReport This Post
Optimistic Cynic
Picture of architect
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In addition to the USG spending money it doesn't have, there is also the inconvenient reality that the lottery takes in money from a lot of folks and only pays out to a few, while the SSA pays out to millions of people who live way longer than they did when the concept was conceived.
 
Posts: 6945 | Location: NoVA | Registered: July 22, 2009Reply With QuoteReport This Post
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Although I paid into the system almost 50 years, that amount, even with employers matching, would only pay for mine about two years.
 
Posts: 29077 | Location: Johnson City, TN | Registered: April 28, 2012Reply With QuoteReport This Post
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Not always the case.

Google Illinois lottery can’t pay winners.

The question you ask answers itself fairly quickly.




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Posts: 37307 | Location: Logical | Registered: September 12, 2004Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
quote:
Originally posted by architect:
In addition to the USG spending money it doesn't have, there is also the inconvenient reality that the lottery takes in money from a lot of folks and only pays out to a few, while the SSA pays out to millions of people who live way longer than they did when the concept was conceived.

The lottery is NOT a Ponzi scheme.



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Posts: 24880 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
probably a good thing
I don't have a cut
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Don't worry. I promise to spend it all if I win the MegaMillions tomorrow.
 
Posts: 3550 | Location: Tampa, FL | Registered: February 09, 2002Reply With QuoteReport This Post
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Why can’t we manage our own SSA account? It’s our money?
 
Posts: 190 | Registered: December 11, 2019Reply With QuoteReport This Post
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Picture of .38supersig
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Check out the tax laws for Galveston County, Texas. Wink



 
Posts: 9551 | Location: Somewhere looking for ammo that nobody has at a place I haven't been to for a pistol I couldn't live without... | Registered: December 02, 2014Reply With QuoteReport This Post
probably a good thing
I don't have a cut
posted Hide Post
quote:
Originally posted by .38supersig:
Check out the tax laws for Galveston County, Texas. Wink


Any one in particular or all of them?
 
Posts: 3550 | Location: Tampa, FL | Registered: February 09, 2002Reply With QuoteReport This Post
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