CBO: Social Security to run permanent deficits

I'll be taking mine at 62 in 11 years. Fuck means testing unless it's over 2mm before the scale back.
I can not fathom who an educated person would even mostly rely on SS for retirement.
 
Damn Yankee said:
Again, punishes people who made the right decisions, saved and worked hard. :palm:
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So does car insurance. Punishes people that drive safe. House insurance, punishes people who take care of their homes. But seriously, we live in a country where our GOVERNMENT incourages us to spend, tells us it's a duty to spend, to keep the economy going. If they wanted us to save they would give us greater tax incentives for putting our money away. And why is it that it is primarily the rich, like Forbes and Ross Perot that talk about means testing. They want to punish themselves? My grandfather made 200k per year AFTER he retired from investments and the like. He owned his house outright, car was paid for, health insurance paid for, Yet every year he complained about how his SS COLA was enough. He would have never missed it. I listen to conservatives complain about people being on unemployment in this economy. They worked, they paid into the system and now they need the unemployment. Yet the right talks about picking yourself up by your bootstraps and taking responsibility for yourself. Yet when it comes to SS no one wants to tell people who DON'T NEED IT that they should not get it. Talk about the dependency cycle, old people are stuck in it like almost nobody else.
 
Again fuck means testing, way too harsh. Paying 7% and getting 0% is worse than the socialism France loves.
 
Socrtease said:
So does car insurance. Punishes people that drive safe. House insurance, punishes people who take care of their homes.
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No it doesn't. I get discounts on my auto insurance because I don't have tickets or accidents. The rate on my son's car was relatively low because I took off theft and collision, and told him that if he caused an accident, he'd have to fix it it, and any ticket would result in me mailing his license to my insurance agent for safekeeping until he turned 18. After a year of safe driving the rate was cut nearly in half, and I wrote a check to him for half of that.

Same for my homes. I have high deductibles and installed good locks and security cameras. Walk withing 100' of my place and I've got your picture sent to my Carbonite account. I haven't made a claim since I've owned a home and my rates are low.

If rich folk want to voluntarily forgo their SS cash then let them. But don't punish people for being successful.
 
Topspin said:
I'll be taking mine at 62 in 11 years. Fuck means testing unless it's over 2mm before the scale back.
I can not fathom who an educated person would even mostly rely on SS for retirement.
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Unless you are in poor health or NEED to take the money, that is not wise. You are likely better off waiting until age 70 and maxing out your bene. (unless you think you will be dead prior to age 78)
 
Damn Yankee said:
It's not greed to get what you paid for. Americans insist on fairness, and arbitrarily punishing success ain't.
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But if the whole system is insolvent, those who don't need it should sacrifice first. you want everyone to sacrifice but your own greedy fucking ass.
 
Superfreak said:
Unless you are in poor health or NEED to take the money, that is not wise. You are likely better off waiting until age 70 and maxing out your bene. (unless you think you will be dead prior to age 78)
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I'm sure your right, but cash in hand is worth something to me. You have a wayyyy much higher respect for the government no reducing the benefit further. I mean, they don't do that right?:whoa:
 
Topspin said:
I'm sure your right, but cash in hand is worth something to me. You have a wayyyy much higher respect for the government no reducing the benefit further. I mean, they don't do that right?:whoa:
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The difference (assuming you maxed out your SS bene's) can be in the $500k range in terms of lifetime bene received. (depends on your individual life expectancy obviously)

The reason I believe they will fix the system without reducing bene's is because it would be political suicide to do otherwise.
 
Well I'm a firm believer in track record. They can and will raise the age limit. Also they are looking at means testing.

I don't even budget SS in my retirement. Pensioners are getting fucked everywhich way but lose and so will SS recipients.
 
Onceler said:
What the left needs to understand about SS is that it will keep growing in a disproportionate way compared to other gov't spending. If you put it in a pie chart, it will keep eating up more & more of the pie, leaving less & less for so many other programs & benefits. The question that needs to be asked is, is preserving SS as a gov't program worth sacrificing so many other programs and benefits?

When you factor in that SS could actually work much better as a private program, it's pretty much a no brainer.

SS is unsustainable. Exponential population growth, COI increases and life expectancies that may rise to triple digits in the next half century....
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One of the few areas where Onceler and I have agreement in opinion.
 
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