Social Security in the U.S. is a Ponzi Scheme

[Dutch Uncle]

We pay into it. Nice propaganda. Working for Elon?

Hater laps up whatever the Orange Jesus and the DOGE bros sprays into his mouth.

 

[Nordberg]

What a shitty Ponzi scheme. It has not missed a payment in over 80 years. It is run on under 1 percent of revenue. Privatization would mean that the "owners: would get a 20 percent cut of the revenue. The bankers have been eyeing it since FDR started it. Their cut for running it would make them a fortune. When they built the baby boomers fund, the bankers went into action lying about it over and over. They know, as Trump and Hitler proved, if you tell a lie often enough it fools the people. They launched a propaganda campaign against it and it worked on rightys.

 

[Dutch Uncle]

^^^^^^

 

[Poor Richard Saunders]

Not as stupid as someone who punctuates a direct question with a period..........

I guess you don't know the difference between a question and a statement. You might want to not try to be a grammar Nazi on top of your normal behavior.

 

[Guno צְבִי]

I guess you don't know the difference between a question and a statement. You might want to not try to be a grammar Nazi on top of your normal behavior.

That's why I have him and his 2 socks on ignore

 

[Dutch Uncle]

I guess you don't know the difference between a question and a statement. You might want to not try to be a grammar Nazi on top of your normal behavior.

Sybil is cray-cray. Reason does not work on him.

Notice his fake forum posts: https://politiplex.freeforums.net/

 

[gfm7175]

Show us how someone making $30,000 per year can put away $300 per month for retirement which would be necessary to get to that million over 40 years.

$15/hr x 2,080 hours/year = $31,200/year
$31,200 * .75 = $23,400 yearly wages (after healthcare & taxes)
$23,400 - $12,000/yr (housing) = $11,400
$11,400 - $4,000/yr (groceries) = $7,400
$7,400 - $1,800/yr (phone/internet) = $5,600

$5,600/yr > $3,600/yr

Thus, the $300 per month that you claim is necessary CAN indeed be set aside for retirement and make a $15/hr wage earner a millionaire by "retirement age".

Of course, this is all random numbers. Of course, there are a plethora of variables involved. Of course one doesn't make $15/hr for one's entire working life. Of course one doesn't always work exactly 2,080 hours per year. Of course prices don't stay the same. Etc etc etc

Assuming the aforementioned numbers are correct and otherwise reasonable, they show that it IS in fact possible to retire a millionaire at a $15/hr wage, per your own savings requirement of $300 per month. It may not be the most glamorous life for this person while he/she is working, but retiring a millionaire IS possible.

Thanks for showing us that your claim that they can retire as a millionaire is nothing but bullshit on your part as you try to argue that it is impossible to calculate any numbers.

NOT BS. See above.

Your lack of numbers only proves that your claim they can retire as millionaires is based on nothing since you just argued that the math is impossible for you to do.

YOU claimed that they COULDN'T retire as millionaires (and YOU never provided any numbers). I now said that they could, and I've now explained how they could (with using your very own hand chosen amount that you claimed is necessary in order to do so).

Poor Richard................

 

[gfm7175]

I guess you don't know the difference between a question and a statement.

Projection.

You might want to not try to be a grammar Nazi on top of your normal behavior.

You can't dismiss your own grammar errors by pretending that they are somehow MY errors.

 

[Althea]

1. Your return on your "contribution" is -4%. That's NEGATIVE 4%.

2. If you die unexpectedly, your "contribution" is absorbed into the system, your family sees $0.00.

3. If you were to actually invest that same money into an IRA, most people would retire millionaires, and if they died unexpectedly,
their family would have access to that wealth.

4. The Social Security tax is just another failed attempt at Collectivism.

5. Your "contribution" is not properly invested by the Government. It is literally used to pay the SS checque to retired people now.

6. Social Security should be phased out, allowing people to invest those earnings tax-free into a retirement portfolio, so they can
actually retire in comfort. A new system should be implemented to help people that are actually destitute.

7. Look at your pay stub. Actually look at it. Understand that you are being robbed. That "contribution" isn't really a contribution.
It's not voluntary. It is forced upon you. It is a tax. Stop believing the lie.

What a crock of shit.

Anyone who did 'invest the same money' into an IRA would be homeless.

If you die, your spouse can opt for your SS payment if it is larger.

 

[Althea]

Show us how someone making $30,000 per year can put away $300 per month for retirement which would be necessary to get to that million over 40 years.

Responding to them gives the illusion that their argument has a modicum of merit, but we cannot resist the temptation.

The moment your employer deducts your FICA contribution, your money has doubled. I would argue that many people reap quite a bit more than they have contributed.

 

[Libhater]

Responding to them gives the illusion that their argument has a modicum of merit, but we cannot resist the temptation.

The moment your employer deducts your FICA contribution, your money has doubled. I would argue that many people reap quite a bit more than they have contributed.

Paid Social Security monies over the worker's many years of employment until they retire nets them -4% $$. You can't take that to the bank.

 

[Poor Richard Saunders]

$15/hr x 2,080 hours/year = $31,200/year
$31,200 * .75 = $23,400 yearly wages (after healthcare & taxes)
$23,400 - $12,000/yr (housing) = $11,400
$11,400 - $4,000/yr (groceries) = $7,400
$7,400 - $1,800/yr (phone/internet) = $5,600

$5,600/yr > $3,600/yr

That's interesting, you haven't given the person transportation to work, health insurance, utilities like heat and electricity, clothing. Then you forgot about holidays where the person wouldn't get paid to work unless they were in a service industry of some sort.
Auto insurance - $1000
Gas for car - $600
Electricity - $700
Gas for heating home - $1000
Health insurance - $3,600
clothing - $400

Thus, the $300 per month that you claim is necessary CAN indeed be set aside for retirement and make a $15/hr wage earner a millionaire by "retirement age".

Not if they want to actually get to work and have heat and light and electricity to charge their phone and run their internet.

Of course, this is all random numbers. Of course, there are a plethora of variables involved. Of course one doesn't make $15/hr for one's entire working life. Of course one doesn't always work exactly 2,080 hours per year. Of course prices don't stay the same. Etc etc etc

So you admit that your claim is bullshit when you say they can retire with a million dollars.

Assuming the aforementioned numbers are correct and otherwise reasonable, they show that it IS in fact possible to retire a millionaire at a $15/hr wage, per your own savings requirement of $300 per month. It may not be the most glamorous life for this person while he/she is working, but retiring a millionaire IS possible.

As we can see, you have not provided valid numbers at all since you forgot much of what a person has to spend money on to live.

NOT BS. See above.

YOU claimed that they COULDN'T retire as millionaires (and YOU never provided any numbers). I now said that they could, and I've now explained how they could (with using your very own hand chosen amount that you claimed is necessary in order to do so).

Poor Richard................

No. You didn't do anything other than show us that you are so stupid you have never been able to live on your own since you have not clue as to what a normal person has to pay for to live.

 

[Dutch Uncle]

That's interesting, you haven't given the person transportation to work, health insurance, utilities like heat and electricity, clothing. Then you forgot about holidays where the person wouldn't get paid to work unless they were in a service industry of some sort.
Auto insurance - $1000
Gas for car - $600
Electricity - $700
Gas for heating home - $1000
Health insurance - $3,600
clothing - $400




Not if they want to actually get to work and have heat and light and electricity to charge their phone and run their internet.

So you admit that your claim is bullshit when you say they can retire with a million dollars.

As we can see, you have not provided valid numbers at all since you forgot much of what a person has to spend money on to live.

No. You didn't do anything other than show us that you are so stupid you have never been able to live on your own since you have not clue as to what a normal person has to pay for to live.

Sybil thinks everyone lives in a tent in the park like himself and walks to work.

 

[Poor Richard Saunders]

Projection.

You can't dismiss your own grammar errors by pretending that they are somehow MY errors.

I see you clearly don't know the difference between a question and a statement.

 

[Dutch Uncle]

Projection.

You can't dismiss your own grammar errors by pretending that they are somehow MY errors.

^^^

 

[Dutch Uncle]

$15/hr x 2,080 hours/year = $31,200/year
$31,200 * .75 = $23,400 yearly wages (after healthcare & taxes)
$23,400 - $12,000/yr (housing) = $11,400
$11,400 - $4,000/yr (groceries) = $7,400
$7,400 - $1,800/yr (phone/internet) = $5,600

$5,600/yr > $3,600/yr

Thus, the $300 per month that you claim is necessary CAN indeed be set aside for retirement and make a $15/hr wage earner a millionaire by "retirement age".

Of course, this is all random numbers. Of course, there are a plethora of variables involved. Of course one doesn't make $15/hr for one's entire working life. Of course one doesn't always work exactly 2,080 hours per year. Of course prices don't stay the same. Etc etc etc

Assuming the aforementioned numbers are correct and otherwise reasonable, they show that it IS in fact possible to retire a millionaire at a $15/hr wage, per your own savings requirement of $300 per month. It may not be the most glamorous life for this person while he/she is working, but retiring a millionaire IS possible.

NOT BS. See above.

YOU claimed that they COULDN'T retire as millionaires (and YOU never provided any numbers). I now said that they could, and I've now explained how they could (with using your very own hand chosen amount that you claimed is necessary in order to do so).

Poor Richard................

^^^

 

[Poor Richard Saunders]

Paid Social Security monies over the worker's many years of employment until they retire nets them -4% $$. You can't take that to the bank.

Some will net -4%. Some will net -100% and some will net over 100%

Can you provide your numbers that show -4%?

 

[ULTRA MAGA]

Okay, so getting a -4% return on your many years of investing in SS is something you will accept as being stupid? Got it!

You forgot to mention that when you die even though your savings are absorbed into the system, they actually aren't because it got borrowed and spent years ago.

Not sure what other elements of a Ponzi scheme it lacks to have these morons defending it.

 

[ULTRA MAGA]

Show us how someone making $30,000 per year can put away $300 per month for retirement which would be necessary to get to that million over 40 years.

You want numbers?

Here you go. SS takes 6.2% from you and 6.2% from your employer. Follow along now, that's 12.4%

There is no low income credit on it. You make $100 for the entire year they will take $12.40 total.

12.4% of $30,000 is $3,750 per year. $3,750 divided by 12 is $310. That's $310 per month.

Any questions or do I need to speak more slowly.

You're welcome.

 

[Dutch Uncle]

You want numbers?

Here you go. SS takes 6.2% from you and 6.2% from your employer. Follow along now, that's 12.4%

There is no low income credit on it. You make $100 for the entire year they will take $12.40 total.

12.4% of $30,000 is $3,750 per year. $3,750 divided by 12 is $310. That's $310 per month.

Any questions or do I need to speak more slowly.

You're welcome.

Are you collecting Social Security, Joe?