2017 S.S. Trustee Report

[blackvegetable]

So you either have a comment to the report or not. It's Friday, grab a drink and maybe it will help you find a personality.

Does the report discuss a SS shortfall?

Will this require a crayon?

 

[Sailor]

Another Red State special.

No.

 

[(oo)]

I'm curious.....
What are your primary sources of info?

In this case OP quoted the trustees of SS. It's failed. Time to pull the plug.

 

[canceled.2021.3]

Oh we can just tax the rich. Problem solved. Warren Buffett will be happy to pay more for Thingys retirement


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[anatta]

doesn't really address that it's headed to insolvency

what would you have me say? that's it's headed into insolvency - the OP makes that clear,no need to repeat.

The question is what to DO about it - means testing is a good idea, but any shortfalls are going to have to come from general revenues

 

[Cancel 2020.1]

No....it isn't. .....

Imagine, for instance, that you wanted to retire in 2009....

Over the previous 8 years, your portfolio DECLINED by about 22%.

That's always the counter-argument.

People don't put money into SS for 8 years. They put money into SS for 40+ years.

 

[(oo)]

what would you have me say? that's it's headed into insolvency - the OP makes that clear,no need to repeat.

The question is what to DO about it - means testing is a good idea, but any shortfalls are going to have to come from general revenues

Shut it down. Let people keep their own money and use that to retire.

 

[anatta]

Shut it down. Let people keep their own money and use that to retire.

going back to pre-New Deal days is hardly the answer.

People cannot be trusted to save for their retirement

 

[(oo)]

going back to pre-New Deal days is hardly the answer.

People cannot be trusted to save for their retirement

Tough. How is that my problem?

 

[anatta]

Tough. How is that my problem?

seriously? you have to then feed/shelter and clothe them for starters. ( and they are gonna want an Obama phone too)

 

[(oo)]

seriously? you have to then feed/shelter and clothe them for starters. ( and they are gonna want an Obama phone too)

Uh, no. Shut all that down too.

 

[anatta]

Uh, no. Shut all that down too.

well there are always death chambers..Xyclon gas is cheap enough

 

[blackvegetable]

That's always the counter-argument.

People don't put money into SS for 8 years. They put money into SS for 40+ years.

I believe that, in 2009, 30 year return for equities was roughly equal to that of treasuries.

There's a company called Dalbar that has looked at returns enjoyed by 401k participants........less than half of what the markets have yielded over the period.

I would be open to something like a Sovereign Wealth fund....professional managers working under defined mandates, but I'd want to see if it could work without grossly inflating equity prices.
Bear in mind that the number of issues on US exchanges has shrunk over the years.

 

[Sailor]

well there are always death chambers..Xyclon gas is cheap enough

Soylent Green? Two birds with one stone????

 

[(oo)]

well there are always death chambers..Xyclon gas is cheap enough

Nope, but if people know there's no "safety net" AKA Socialist government robbing working Americans to reward slackers - they will save.

if not, those who are so inclined can donate to charity, right?

 

[blackvegetable]

Uh, no. Shut all that down too.

Given the utter disaster their choices have proven, I think we would benefit most by retroactively aborting Deplorables.

 

[(oo)]

Given the utter disaster their choices have proven, I think we would benefit most by retroactively aborting Deplorables.

Give it a try and see what you get.

 

[Cypress]

The funding gap continues to grow for S.S. As people in the their 40's and younger know the chances of S.S. being there for us is not high.

I remember being told the exact same thing in my late teens and twenties. And those so called experts were wrong. Reagan and Tip O'Neill got together and patched it up for the next half century. It will be a relatively simple fix once it becomes and imminent an pressing issue.

“A hundred suspicions don't make a proof.” -- Fyodor Dostoyevsky, Crime and Punishment

 

[blackvegetable]

Give it a try and see what you get.

I'm thinking frog legs......on the barbie.....

 

[anatta]

Nope, but if people know there's no "safety net" AKA Socialist government robbing working Americans to reward slackers - they will save.

if not, those who are so inclined can donate to charity, right?

Once Upon A Time..back before the New Deal
people may or may have not saved for their retirement..

use some privitization, means testing ..but you are going to have to force people to be responsible