50 million strong

[waterdog101]

I was just sitting here and thinking, what would really happen if the government should let { Social Security } go broke. after all wasn't the money we working people payed into Social Security supposed to be in a fund that was safe and couldn't be wasted by washington. now it's time for the 50 million baby boomers that have worked 40 plus hours a week for 40 years or more. to start collecting some of the money back that the government has been holding for them. now they say it has been spent and social security is broke. when 50 million people have been robbed of the money they thought they had to buy food and pay bills with in their later years, any they find it's all been wasted. they are going to be uncontrollable mad. it will be a 50 million strong mob. looking for any politician that was ever sent to washington, thats still alive. with a rope in their hand, and the politicians think they live in another world, but they don't. they live here like all the rest of us working folks do. and there would be no place for them to hide. I think every last one of them that wasted the working mans social security funds that he payed in for 40 years, would be HANGED by their necks for stealing the working mans retirement money. I was thinking about this, and I've worked hard for 38 years and have 4 more to go and it angers me to think about it. I do have compassion for most everyone, but I have no pitty for any thief. and the politicians have stolen our Social Security funds and wasted it. if you have worked all your life, how do you feel about this subject.

[GeoFisher]

You know there are a BUNCH of IDIOTS out there and a BUNCH of freakin morons out there.

Social Security is not broke, but GOING BROKE. At the current rate of consumption of funds, Social Security will be out of money in 30-40 years...........NOT TOMORROW.

It is not rocket science to project expenditures for the future, and current value, etc, etc. If you are NOT taking in the money you used to......and you have more using the services than EVER BEFORE, you're going to run out.

You can add 30-40 years to when Social Security will run out simply by extending the age when you can start collecting by 2-3 years. YES MY FRIENDS........2 or 3 years. WHAT is the big freakin deal. Extend the age, or run out. SOUNDS EASY to me.

FIX Unemployment.......meaning get 20 million folks back to work. AND working at a decent wage, and you FIX the **** problem. Just figure 20 million folks at 20,000 bucks a year. Figure 10 percent in income taxes.......that is 40 billion dollars a year in new revenue. While a dent in the bucket, it is MONEY. AT 40,000 per year per person, you've added nearly a trillion dollars in tax revenue over 10 years, and over a trillion dollars in 10 years in medicare and medicate taxes ( assuming 6.5 percent per employee, and 6.5 percent for the employer).

On a side note.......Extending Unemployment benefits are about a trillion dollars of our current problem. over 10 years, we've extended these benefits 10 times. FIND a GD job..........anything.

Finally......while I'm on it.

I was talking to a buddy a few days ago........20 years ago, they had sharecroppers from Arkansas, who would travel up the northern growing corridor, harvesting crops for any and ALL who needed help. About 10 years ago, these sharecroppers stopped traveling. The told my friends family that they made more money off of WELFARE, Unemployment and gubment assistance than by WORKING. WHAT a crock of horseshit. This is the DIRECT effect of these programs. LOSE the programs and I bet we could create a kick ass workforce in EVERY type of work. EVERY. Instead, we create a section of society who would rather mooch off the gubment and STEAL my future.

Later,

Geo

[kyfanatic]

Well Geo,they've extended the age for retirement twice already since I started working,I'm not sure what shape I'll be in for those 2 or 3 more years.The dirty SOB's would have not dipped their filthy hands in something that was never meant to be touched to start with,we wouldn't be in this shape.I was forced to pay into this crap for all these years and I'll be damned if I'm gonna break my neck until I'm 70 to draw a penny of it back.
Just give me back exactly what I've paid into FICA and Medicare and I'll be just fine.I don't know how old you are,but I bet you'll change your tune when you get closer.

[GeoFisher]

Well Geo,they've extended the age for retirement twice already since I started working,I'm not sure what shape I'll be in for those 2 or 3 more years.The dirty SOB's would have not dipped their filthy hands in something that was never meant to be touched to start with,we wouldn't be in this shape.I was forced to pay into this crap for all these years and I'll be damned if I'm gonna break my neck until I'm 70 to draw a penny of it back.
Just give me back exactly what I've paid into FICA and Medicare and I'll be just fine.I don't know how old you are,but I bet you'll change your tune when you get closer.

First....I understand what you're saying, but I don't think the problems are because the dirty SOB's have dipped into it........I think the dirty SOB's don't have any idea how to manage it. Making 2 or 3 percent over the past 50 years when the market has outpaced it 100 fold is WRONG.

Second.......Put on top of that the fact that when it was first formulated, there were 12-15 payees for every retiree..........now it is more like 4-5. Someone sold us a pile of ****.........administrations in the past kicked the can down the street......

Finally......I hope to NEVER have to rely on Social Security. I might have to use medicare if I qualify, but for my retirement, I hope that I can retire on what I've SAVED over the 40 years I would have worked. I hope that I've put enough away, and that my financial planner, and my PERSONAL IDEAS are right. If they are, I will have plenty to retire with, and Social Security, whatever is available to me will be gravy.

Finally, Finally.......I've said it more than once.......Promises are PROMISES. I don't know how we can afford to pay the entitlements that we've created, but for folks like you, and folks like my parents.........they should get EVERYTHING they've been promises.......

And for the record, any extensions in retirement age would NOT effect folks who are over 50. Everyone promised those benefits who are 50 or older would get what they were promises. At least every plan that I've seen talked about was based on a grandfathered type process.

Later,

Geo

[GeoFisher]

Just give me back exactly what I've paid into FICA and Medicare and I'll be just fine.I don't know how old you are,but I bet you'll change your tune when you get closer.

I have NO idea what you make.......but I'm not too sure you would be "just fine" if they gave all of what you paid BACK. You might be, but I doubt it.

A quick calc by my feeble mind leaves me significantly, SIGNIFICANTLY short of being able to live to a happy retirement if the gubment just "gave everything back".

for example: Say someone averaged 50,000 a year for 45 years. He would have paid into the system about 150,000...........maybe more maybe less. If he was self employeed this might or might not be close to being correct. If he worked for a corp or small business, or whatever, then the employee would have also kicked in 150,000. that is a smooth 300k. NOT BAD. This doesn't include any interest income or anything else, but we know treasury bonds over that period of time, and bonds that gubment invests our SSI money in generate about 2 or 3 percent. So lets say that 150k DOUBLED in value, which might or might not have happened.

Your contribution and your companies contribution could add up to 600,000. MAN what a NEST EGG...........shitload of money. How long would that last. ASSUMING that you demanded your money back from SSI. So you no longer are eligible for Medicare or Medicaid. One serious illness at say 65 or 70 years old, could easily wipe out 1/2 of that . That leave 300k. At your 50k / year average income, you'd be out of that in 6 years.......

SO.........are yo sure you'd be OK??

Just playing devils advocate........I AGREE, I think I could have managed the monies I've put into the system too.....and if I had an option to opt out today and take my money and RUN......I bet I could invest it over the next 20 years and never need a cent of money from the gubment, and it would DEFINITELY return more than the estimates I get every year........

Later,

Geo

[kyfanatic]

Well,today I have no doubt I could manage it better than those in office who think they know how to spend my money better than I do.
Unfortunately my retirement investments took huge hits after 9-11 and again later.I took what was left and invested in this farm and new home,now real estate is still losing value,at least its something I can see.
I have a company pension,fully vested, (not 401K although it's available as well),I just have no faith in stock markets or banks anymore.I have less faith in our Govt,

[GeoFisher]

Anything you do still have invested in the markets...........Look closely this next week. S and P may downgrade our credit rating next week.....AHEAD of the Aug 2nd deadline. Overnight and foreign markets may be a good predictor of just what our markets are going to do in a couple weeks.

THIS debt ceiling **** really bothers me...........Lead or get the HELL OUT OF THE WAY.....this goes for every dirty rotton SOB up there.

Man, I hope the markets and reality markets treat you well my friend. I envy those that have done what is necessary and HAVE an opportunity to retire......hopefully, I will get there some day too .

The crap is spout is just that......crap........I feel no ill will towards those who have worked 40 years doing HARD JOBS, and want to collect on some of those promises......there is a place in my heart to wish you well .

Thanks,

Geo

[Tom523]

You know there are a BUNCH of IDIOTS out there and a BUNCH of freakin morons out there.

Social Security is not broke, but GOING BROKE. At the current rate of consumption of funds, Social Security will be out of money in 30-40 years...........NOT TOMORROW.

It is not rocket science to project expenditures for the future, and current value, etc, etc. If you are NOT taking in the money you used to......and you have more using the services than EVER BEFORE, you're going to run out.

You can add 30-40 years to when Social Security will run out simply by extending the age when you can start collecting by 2-3 years. YES MY FRIENDS........2 or 3 years. WHAT is the big freakin deal. Extend the age, or run out. SOUNDS EASY to me.

FIX Unemployment.......meaning get 20 million folks back to work. AND working at a decent wage, and you FIX the **** problem. Just figure 20 million folks at 20,000 bucks a year. Figure 10 percent in income taxes.......that is 40 billion dollars a year in new revenue. While a dent in the bucket, it is MONEY. AT 40,000 per year per person, you've added nearly a trillion dollars in tax revenue over 10 years, and over a trillion dollars in 10 years in medicare and medicate taxes ( assuming 6.5 percent per employee, and 6.5 percent for the employer).

On a side note.......Extending Unemployment benefits are about a trillion dollars of our current problem. over 10 years, we've extended these benefits 10 times. FIND a GD job..........anything.

Finally......while I'm on it.

I was talking to a buddy a few days ago........20 years ago, they had sharecroppers from Arkansas, who would travel up the northern growing corridor, harvesting crops for any and ALL who needed help. About 10 years ago, these sharecroppers stopped traveling. The told my friends family that they made more money off of WELFARE, Unemployment and gubment assistance than by WORKING. WHAT a crock of horseshit. This is the DIRECT effect of these programs. LOSE the programs and I bet we could create a kick ass workforce in EVERY type of work. EVERY. Instead, we create a section of society who would rather mooch off the gubment and STEAL my future.

Later,

Geo

That section of society is growing too! It's common sense, why work at minumum wage when you can go on welfare and receive spending money, EBT for food, free medical care, free day care, and 2 years free education? It is the same thing in the workplace at a smaller scale. If you have one guy that goofs off all day and the supervisor doesn't do anything about it. Other workers will start to goof off all day too. Sooner or later the majority of workers are goofing off all day. The remaining workers are doing all the work and are becoming disillusioned with the system and the job. This creates violence in the workplace, substandard products of low quality and the eventual closing of the workplace.

[mhall]

Well Geo,they've extended the age for retirement twice already since I started working,I'm not sure what shape I'll be in for those 2 or 3 more years.The dirty SOB's would have not dipped their filthy hands in something that was never meant to be touched to start with,we wouldn't be in this shape.I was forced to pay into this crap for all these years and I'll be damned if I'm gonna break my neck until I'm 70 to draw a penny of it back.
Just give me back exactly what I've paid into FICA and Medicare and I'll be just fine.I don't know how old you are,but I bet you'll change your tune when you get closer.

AMEN Brother a big AMEN!!!!!!!!!!!!!!!!!!!!!!!!! IT WASN'T AND STILL ISN'T THEIR **** MONEY!

[DJD]

It is the same thing in the workplace at a smaller scale. If you have one guy that goofs off all day and the supervisor doesn't do anything about it. Other workers will start to goof off all day too. Sooner or later the majority of workers are goofing off all day. The remaining workers are doing all the work and are becoming disillusioned with the system and the job. This creates violence in the workplace, substandard products of low quality and the eventual closing of the workplace.

Hmmm sounds an aweful lot like some of the Union outfits I hear about. Not all of them but some of them... Only exception is that Unions won't close they want bailouts instead of cleaning house.