Social Security Reform Explained - Page 5
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Thread: Social Security Reform Explained

  1. #41
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    I hope I don't hear, "circle jerk", at any job!
    Really? You must have a very dysfunctional working environment. Or on the other hand, maybe I've just been on this contract too long and it's warped my sense of normality.
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  2. #42
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    Originally posted by slimdave
    It's pretty much an outright lie.
    Ah, when you owe more than you are taking in, you're bankrupt.
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  3. #43
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    When trying to track down the source of this policy, it might be beneficial to wonder about where people are going to buy all of their stocks, bonds, CD's, metals etc from -- a huge inrush to the market will benefit whom?
    David Aldridge,
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  4. #44
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    Originally posted by Alchemy


    OMG.....Your kidding aren't you?

    Hey everyone! slimdave is one of them "cradle to gravers"

    spinnas on their crap-mobile

    ROFLMAO! My mobile might be crap, but you'll never catch me with spinners on it, I can guarandamntee everyone of that!
    Hey, I thought I saw you driving a driving a gold flake suped up Pinto with a super charger, plastic spinners and a lift kit last week!!
    this space intentionally left blank

  5. #45
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    Originally posted by slimdave
    When trying to track down the source of this policy, it might be beneficial to wonder about where people are going to buy all of their stocks, bonds, CD's, metals etc from -- a huge inrush to the market will benefit whom?
    The same place that Pension investors, 401k investors, IRA investors, day traders, and every other investor buys and sells securities.
    Jeff Hunter
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  6. #46
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    Originally posted by marist89
    Ah, when you owe more than you are taking in, you're bankrupt.
    See that's the kind of simplistic nonsence that the administration is pushing.

    GWB's implication to his audience was "by the time you retire, social Security will not have any money left to pay anyone anything". That is a lie and every economist knows it. If nothing is done at all in the next 50 years, then the fund will have to reduce payments (not stop them -- it would still have money coming in that it can pay out). But there's a huge range of things that could be done ... here's a sample ...
    • Allow the SS fund to invest it's money more profitably
    • Stop wasting money on NASA's manned-mission-to-Mars circle jerk (there we go!)
    • Stop wasting money on dumb "missile defence" programs that are just a big subsidy to Boeing, Lockheed etc
    • Oh, and stop invading countries that are not a threat to the US. Bit late for that one, of course.

    Instead of this, the administration is concocting another set of FUD arguments to fit their own political ideology. "We have to privatize social security, therefore we must make the facts look like it is necessary to do so".
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  7. #47
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    Originally posted by marist89
    The same place that Pension investors, 401k investors, IRA investors, day traders, and every other investor buys and sells securities.
    By which I take it you mean that it'll benefit all of the people who already have large investments (n proportion to how much they already have invested), plus all of the businesses who make their profits from transactions, right?
    David Aldridge,
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  8. #48
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    Originally posted by marist89
    Again, if you have a significant portion of your portfolio in stocks as you near retirement, you deserve to lose your shirt.
    That's a nice plan for when the markets tank just before you retire, cos you went safe with your investments five years before, right? But if the market tanked five years before, or whenever it was that you decided you had to reduce your risk, then you were screwed, and had no time to make up the losses. Plus you probably had an increased chance of losing your job at that time anyway.
    David Aldridge,
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  9. #49
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    Originally posted by gandolf989
    The point I was trying to make was that most Americans have a significant investment in the current system. If we are going to complain about getting a bad return on our investment, why would we do something that will take away money from the system?

    True. The younger you are the less significant of a stake you have in it. You take away money from "the system" because "the system" is neither fair nor just. What if you pay into "the system" for 50 years and you die the day before your 62nd birthday? Where do all your contributions go then? That's right, they stay in "the system" while your estate gets crap.

    Also, lets make no mistake about it, Social Security is a tax, not an investment.


    Everyone should have either a 401k or an IRA with the proper diversity and risk based on your needs and how far away you are from retirement. Not everyone has the foresight to do that. When people don't plan for the future, many end up costing us all money eventually. I personally am not planning on social security being solvent when I retire, but it would be a nice thing to have.

    Nor am I. We should have the option to get out now and take significantly reduced benefits when we hit retirement age.


    Our goals for social security should be first and foremost shoring it up financially, then look at giving people opions on where to put their money. Just my opinion. Anyone can borrow money to create another big government program, but the real work of paying for it takes hard work. Bush wants to create another big government program, and he wants to pay for it by cutting benefits.
    Our goals for Social Security should be to make sure it is gone when people who turn 18 today reach retirement age. When it is gone, there will be no government program. Sure, it will put thousands of government employees out of work, but they'll be able to find work in one of the thousands of other welfare programs the government has created.
    Jeff Hunter
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  10. #50
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    Originally posted by slimdave
    That's a nice plan for when the markets tank just before you retire, cos you went safe with your investments five years before, right? But if the market tanked five years before, or whenever it was that you decided you had to reduce your risk, then you were screwed, and had no time to make up the losses. Plus you probably had an increased chance of losing your job at that time anyway.
    That's a whole lot of IF's involved.
    Jeff Hunter
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