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For Heist: Social security myths :-D
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For Heist: Social security myths :-D - March 8, 2011, 10:52 AM

Social Security 5 Enduring Myths that Must Go


-Fitz

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March 8, 2011, 11:27 AM

I will take no budget plan from a President or Congress until this government run ponzi scheme is addressed as a serious measure of effective fiscal planning for the nation.

Until then, it's all posturing and a grand smoke and light show.

Had anyone but the government attempted to run such a fund, they would have been brought up on fraud charges and most likely serving a decades long sentence in Federal prison.



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Last edited by Heist; March 8, 2011 at 12:07 PM..
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March 8, 2011, 11:32 AM

i.e. Bernie Madoff


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March 8, 2011, 12:29 PM

Quote:
Originally Posted by Heist View Post
Had anyone but the government attempted to run such a fund, they would have been brought up on fraud charges and most likely serving a decades long sentence in Federal prison.
+ FUCKING 1


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March 8, 2011, 01:11 PM

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i.e. Bernie Madoff
Worse.

With Bernie Madoff, the worse punishment is YOU lose your money for willingly contributing to a ponzi scheme and HE is put in jail.

With Social Security, the worse punishment is YOU lose your money for willingly avoiding contributing to a ponzi scheme and YOU will be put in jail.

Wow, that makes sense? Jail me for avoiding being fleeced. But alas, the government will term this "tax evasion."

My question is, isn't tax something that is used to fund and run the country and its associated services or projects? What part of Social Security funds or runs the government? Hmmm....

And if the government is using the personal private funds of individuals set aside for a retirement program to instead run the country or fund projects, doesn't this constitute a misappropriation of funds or a breach of fiduciary responsibility?

Hmmm....

If I was the investment manager of a union's pension fund or the managing director of a retirement capital fund, and then decided I wanted to use the money in the fund to renovate my office, build a new parking lot outside, or hire more security - and justify it all by saying, "No biggie - more people will be joining the fund and contributing long before they retire, so their contributions will make up what I'm using." I'd have my license yanked and be strung up by my balls in court.



“Any man who tries to be good all the time is bound to come to ruin among the great number who are not good. Hence a Prince who wants to keep his authority must learn how not to be good, and use that knowledge, or refrain from using it, as necessity requires”.

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March 8, 2011, 02:15 PM

Personal opinion, scrap SS, or sunset it. Its a non viable program that was set up to keep the elderly fed post great depression and was originally suppose to sunset long ago.


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March 8, 2011, 03:45 PM

^^^Agree with the sunset plan.
I'm telling you, when - not if - but when SS becomes financially insolvent and the government is forced to:
1 - Raise retirement/disbursement age to some absurd number (72-75)
2 - Lower disbursement amount
3 - End all early withdrawal period

Or any combination thereof including saying, "Sorry, it's bankrupt" wait to you see the amount of civil unrest that occurs.

It'll be WWI levels of "War Bonus" marches and riots all over again.



“Any man who tries to be good all the time is bound to come to ruin among the great number who are not good. Hence a Prince who wants to keep his authority must learn how not to be good, and use that knowledge, or refrain from using it, as necessity requires”.

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March 8, 2011, 03:47 PM

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Originally Posted by Heist View Post
^^^Agree with the sunset plan.
I'm telling you, when - not if - but when SS becomes financially insolvent and the government is forced to:
1 - Raise retirement/disbursement age to some absurd number (72-75)
2 - Lower disbursement amount
3 - End all early withdrawal period

Or any combination thereof including saying, "Sorry, it's bankrupt" wait to you see the amount of civil unrest that occurs.

It'll be WWI levels of "War Bonus" marches and riots all over again.
Can old people riot?


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March 8, 2011, 03:51 PM

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Can old people riot?
Ever been to a store or restaurant and someone forgets to subtract the Senior Citizen discount.



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March 8, 2011, 03:57 PM

I say we kill baby boomers in drones and we won't have any issues for our generation. Problem solved. They made enough money during the golden years anyways


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March 8, 2011, 03:57 PM

Seinfield quote: "The sea was angry that day my friends, like an old man trying to send back soup at a deli!"


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March 8, 2011, 11:16 PM

Happy I don't pay into and have to rely on SS.
YaY for Railroad Retirement and 401B/k.


Then again... That's just me.

On the internet... Everyone is an expert.

And now...The dancing Banana:
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March 9, 2011, 05:27 AM

The biggest myth of all is that Social Security is in some huge financial trouble.

The solution is right in front of us, but it is not necessary yet and politically unattractive. The eligibility age doesn't need to be raised to some absurd number like 75. It just needs to be raised from the current 67 to 70 and SS will be perfectly fine for another 30 years...

... at which point people will live longer and we will have the same "problem" - and same solution.
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March 9, 2011, 05:29 AM

Quote:
Originally Posted by Witold
The biggest myth of all is that Social Security is in some huge financial trouble.

The solution is right in front of us, but it is not necessary yet and politically unattractive. The eligibility age doesn't need to be raised to some absurd number like 75. It just needs to be raised from the current 67 to 70 and SS will be perfectly fine for another 30 years...

... at which point people will live longer and we will have the same "problem" - and same solution.
Wrong. Do some googling. SS doesnt have all the money people think it does. They have a ton of IOUs... IOUs which the government will be unable to pay


-Fitz

2016 Harley Softail Slim S
2012 Harley Ultra Limited in Ultra Annoying Orange Sold!
2012 V-Strom 1000 Sold!
2009 Buell 1125R Sold!
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March 9, 2011, 06:31 AM

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Wrong. Do some googling. SS doesnt have all the money people think it does. They have a ton of IOUs... IOUs which the government will be unable to pay
^^^This.



“Any man who tries to be good all the time is bound to come to ruin among the great number who are not good. Hence a Prince who wants to keep his authority must learn how not to be good, and use that knowledge, or refrain from using it, as necessity requires”.

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