The President just said if he is re-elected, the first thing he is going to do is eliminate the federal employment payroll tax. The way that can be done is have corporate taxes and a flat 2-3% sales tax and that gives us the choice if we want to pay any federal taxes.that's great cause the money we save from not paying fed. tax would save us 8-15% even paying the 2-3% that's for people making less than 100K this well also stop the blue states from steeling our money for their communist ways for their states. EDIT everyone needs too know the president never said he was going to start a new user tax, that was my assumption to make up the revenue
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As a Gen-X taxpayer, I expect my SS to be there just like everyone else should. They took it from me against my will with the promise of returning it when I retire. The Social Security Ponzi scheme has been made a handout to many, but it is the legitimate right for the contributors.
As a millennial, I lol at the thought of drawing SS. It was a tax. Thats all. There's no "benefit".
It will be gone in my lifetime.
If I understand it correctly, it doesn't ever really go away. The payments just get smaller and smaller to accommodate for less funds. So when we, as millennials, hit retirement we will get monthly checks of $20 or something.
I could be wrong, and your point is still valid. Plan for your own retirement, the govt isn't gonna do it for us.
Yeah I agree with you kiddo and I’m an X’er. I mean we’re kinda known for our cynicism so I don’t know where this other guy’s getting their hopium from. Dat money GONE.
When it was first started by Roosevelt the average life expectancy was only 58-65 and SSI couldn't be drawn until 62, guess what they thought no-one would ever be old enough to draw it. It was always just a tax they thought they would never have to pay out, their personal piggy bank
Agreed. I just fucking LOVE knowing that all of the money I paid into this program is gone and shoved into some fucking politicians pet pork project or loaded up with illegals.
If you retire, if you even live long enough to get to the age where you're allowed to collect it. And if you hit that magic age, and die a year later, you'll have paid into it your entire working life and barely got any of it back out. No option to have it passed to a beneficiary or your kids. That's it. The government just cuts you off cold turkey. thank you family of hard-working man for all your sacrifices over the years. Now f*** off and die destitute.
Social security needs to be made optional.
I’ve paid into it. Not as long and definitely no as much but if I could opt out of paying anymore and never draw I would. I could do more with that $8,500 a year or whatever the max is now.
They shouldn’t have any problem with it since it’s just their money that the government invested.
The government did invest it, right? They didn’t just spend it immediately? Oh, fuck...
The Social Security Administration (SSA) invested the money, yes they did.
What did they invest in?
Federal government bonds.
The SSA loaned money to the Treasury.
Another way to say that is, the federal government loaned money to itself.
Curious fact, when the government lists its debt, it does not list the debt it owes to itself, namely the SSA.
So you could say the SSA loaned money to the Treasury, and the Treasury spent the money.
Or you could skip the details and say the government spent the money it was supposed to save to give to baby boomers when they retired.
But what's a couple $trillion, really.
https://usdebtclock.org/
$26 trillion in actual debt.
$150 trillion in unfunded liabilities (SS, Medicare, military pensions)
that's the dems way, Remember we are all degenerates and illiterates, Wal-Mart shoppers
Have you not yet realised the fact that they hate you?
End all government pensions. Period. Getting pensions? Cut them off. Expecting one? Tough shit. it's b******* to expect people that aren't getting pensions to pay into a system that pays government employees pensions far more generous than whatever social security b******* the rest of us are getting.
As a millennial I 100% am not planning on seeing a cent by the time I retire.
As a Gen-Xer who has paid into the system since I was 10 years old, I know SS won’t be there for me either.
There will be no cuts to SS. Dems are spreading nonsense that SS is getting scrapped. Thankfully, most retirees on SS don't use social media.