Social security, a landmark liberal achievement

[Cypress]

Lifetime-benefit, starting at age 62:

Retire @ 62 - $2,102/month
Retire @ 65 - $2,683/month
Retire @ 67 - $3,161/month
Retire @ 70 - $4,022/month

[PostmodernProphet]

but tell me this about your lib'rul acheivement.........why does George Soros and a grandmother with no other income receive the same monthly check?.....

[Cypress]

but tell me this about your lib'rul acheivement.........why does George Soros and a grandmother with no other income receive the same monthly check?.....

Your word can't be trusted.

Provide a link to a reputable mainstream news source

Your total SS benefit is calculated based on your wage income

[NiftyNiblick]

but tell me this about your lib'rul acheivement.........why does George Soros and a grandmother with no other income receive the same monthly check?.....

Because it's for everybody.

[zymurgy]

Because it's for everybody.

even for fascist shitstains that say ""the main obstacle to a stable and just world order is the United States"

[Cypress]

Starting at age 62, every year you defer your retirement, the SS benefit goes up by 12 percent annually.

That's better than the rate of return on any investment, and it is provided as a lifetime benefit.

[PoliTalker]

It is a fantastic system. For those who think not having it would be better, they need only look at how many seniors passed into destitution after they were too old to work before Social Security. It is the very reason the system was created.

[floridafan]

but tell me this about your lib'rul acheivement.........why does George Soros and a grandmother with no other income receive the same monthly check?.....

Your kind controlled government when Trump was president, but you did nothing about it. But you are good at whining.

[Cypress]

It is a fantastic system. For those who think not having it would be better, they need only look at how many seniors passed into destitution after they were too old to work before Social Security. It is the very reason the system was created.

It mitigates destitution for low wage earners, and it provides a very attractive retirement supplement to those who have savings, but not a pension with a lifetime benefit.

[ThatOwlWoman]

Starting at age 62, every year you defer your retirement, the SS benefit goes up by 12 percent annually.

That's better than the rate of return on any investment, and it is provided as a lifetime benefit.

And if you are married and your spouse passes away, you can receive benefits based on their record. This program has done more to lift elders out of poverty than just about anything else we can think of. I wonder how many still-working people would appreciate having to have their aged parents come live with them and be supported by them, absent social security? They would be paying out more $$ than the current 7.65% that is deducted from their paycheck now.

[Cypress]

And if you are married and your spouse passes away, you can receive benefits based on their record. This program has done more to lift elders out of poverty than just about anything else we can think of. I wonder how many still-working people would appreciate having to have their aged parents come live with them and be supported by them, absent social security? They would be paying out more $$ than the current 7.65% that is deducted from their paycheck now.

I notice all the proposals Republicans have come up with to turn SS into some kind of private stock market investment always studiously make sure that their parents and their peers are protected, and privatization only effects younger people.

[PoliTalker]

Hello ThatOwlWoman,

And if you are married and your spouse passes away, you can receive benefits based on their record. This program has done more to lift elders out of poverty than just about anything else we can think of. I wonder how many still-working people would appreciate having to have their aged parents come live with them and be supported by them, absent social security? They would be paying out more $$ than the current 7.65% that is deducted from their paycheck now.

That's the way it was before SS. And for those who did not have children who could support them? Destitution was the norm of the land.

Without Social Security, one would have to save, in cash or wise secure investments, $1.5 million - $2 million in order to live off the ROI without drawing down the principle.

Now, how many Americans are able to do that?

The only reason some Republicans want to kill or cut Social Security is because big money wants to get their hands on that system and all that accrued wealth. They are literally salivating at the prospect of it. And, of course, big money tells the Republican party what to think, what to say, what to believe, and what to vote for.

[ThatOwlWoman]

I notice all the proposals Republicans have come up with to turn SS into some kind of private stock market investment always studiously make sure that their parents and their peers are protected, and privatization only effects younger people.

Republicans try to appeal to younger voters by painting SS and Medicare as "entitlements" that were not earned, but given to them by currently-employed workers. There is just enough truth in that to appeal to the stupider ones.

The problem with turning SS into a 401(k) type scheme is the vagaries of the markets. What happens if the markets -- and all that money the government invested for you -- are down at the time you decide to retire? Either you accept less pay-out, or you continue working. The current scheme has concrete payouts which allows employees more freedom in deciding when to hang it up. There is no risk-taking. And you don't end up having to move in with one of your kids.

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[ThatOwlWoman]

That's the way it was before SS. And for those who did not have children who could support them? Destitution was the norm of the land.

Without Social Security, one would have to save, in cash or wise secure investments, $1.5 million - $2 million in order to live off the ROI without drawing down the principle.

Now, how many Americans are able to do that?

The only reason some Republicans want to kill or cut Social Security is because big money wants to get their hands on that system and all that accrued wealth. They are literally salivating at the prospect of it. And, of course, big money tells the Republican party what to think, what to say, what to believe, and what to vote for.

Bingo.

[Cypress]

Republicans try to appeal to younger voters by painting SS and Medicare as "entitlements" that were not earned, but given to them by currently-employed workers. There is just enough truth in that to appeal to the stupider ones.

The problem with turning SS into a 401(k) type scheme is the vagaries of the markets. What happens if the markets -- and all that money the government invested for you -- are down at the time you decide to retire? Either you accept less pay-out, or you continue working. The current scheme has concrete payouts which allows employees more freedom in deciding when to hang it up. There is no risk-taking. And you don't end up having to move in with one of your kids.

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Since pensions are becoming rarer and rarer for working adults, a supplementary retirement benefit with a lifetime benefit like SS should be a no brainer in any retirement strategy.