America without Social Security

[WaterMan]

I wonder what our streets would look like if 20% of our population had 0 dollars?

 

http://www.examiner.com/political-spin-in-...social-security

 

 

 

What would America be like without Social Security?

 

The recent retirement announcement by moderate Senator Evan Bayh (D-IN) may be a sign of things to come. Not just for the Democratic Party, but for the country as a whole.

 

If radical right wing republicans like Michelle Bachmann succeed in pushing their anti-government agenda forward, recent proposals like the end of Social Security would roll back the clock on the entire country.

 

Social Security is not just a check for seniors. It is an integral part of our entire economy. More than 52 million Americans receive Social Security benefits. That’s just about 18% of the population. And not all of those recipients are seniors. Social Security is the life line to millions of blind and disabled children and adults as well.

 

The Social Security Act was signed into law by President Roosevelt on August 14th, 1935. It was “an attempt to limit what were seen as dangers in the modern American life, including old age, poverty, unemployment, and the burdens of widows and fatherless children.”

 

Using the standard business model of cost vs. benefit, how do you calculate the effects of cutting a hole in the safety net for 52 million people, in the midst of the worst economic and housing crisis in recent history?

 

To anti-government radicals, cutting Social Security it may sound like a good idea. However, the economic and social repercussions would be devastating. Seniors in nursing homes would be put out on the street. Many of the blind and disabled would have no means of support. And the money spent by recipients, would no longer find it’s way into our consumer-driven economy.

 

Some political rhetoric can be ignored. This cannot. The ramifications are too far reaching. America needs change – but not this kind.

 

* * * * *

[SayItAintSoJoe]

25 Walmart greeters at all times.

[buddahj]

Two words: soylent green

[Chargerz]

25 Walmart geezers at all times.

fixed

[BeeR]

 

Some political rhetoric can be ignored.

Yeah. Like this retarded article.

[yo mama]

Two words: soylent green

I would have also accepted "death panels"

 

In all seriousness social security and medicare are great ideas, but they were predicated on people dying a lot sooner. If they aren't holding up their end of the bargain, why should we?

[Ursa Majoris]

I would have also accepted "death panels"

 

In all seriousness social security and medicare are great ideas, but they were predicated on people dying a lot sooner. If they aren't holding up their end of the bargain, why should we?

A more civilized alternative would be to move the SS age up and make savings more attractive than the 401k.

 

Alternatively, run a dollar match scheme like companies do.

Edited July 29, 2011 by Ursa Majoris

[MikesVikes]

These are the first Walmart greeters that I see.

 

http://www.bumvertising.com/

[yo mama]

A more civilized alternative would be to move the SS age up and make savings more attractive than the 401k.

 

Alternatively, run a dollar match scheme like companies do.

I kid. Sort of. But the deal needs to change because the underlying assumptions of the programs and its participants have changed. That is, assuming we want the programs to be sustainable and fair to today's young people. But I'm not so sure today's old people give a rat's ass about anyone but themselves. Maybe that's just human nature.

[Ursa Majoris]

I kid. Sort of. But the deal needs to change because the underlying assumptions of the programs and its participants have changed. That is, assuming we want the programs to be sustainable and fair to today's young people. But I'm not so sure today's old people give a rat's ass about anyone but themselves. Maybe that's just human nature.

This will be the 19th time at least I've posted what would fix SS but here goes again. Not that any politician has the balls to say it or any old farts would vote for it.

 

Means test it - you get it on a sliding scale as your own money gets spent

Raise the qualifying age

Since it's now truly a last resort, lower the taxes on both employer and employee

[SEC=UGA]

This will be the 19th time at least I've posted what would fix SS but here goes again. Not that any politician has the balls to say it or any old farts would vote for it.

 

Means test it - you get it on a sliding scale as your own money gets spent

Raise the qualifying age

Since it's now truly a last resort, lower the taxes on both employer and employee

 

Means testing is fine, and raising the age is fine, IF you go one step further...

 

We need to END social security as it exists today for all of those under 50/55. The government can confiscate that money or force those individuals to place the 6% into a publicly administered IRA. Each person has an individual account from which they draw in retirement. That money is not placed in any "governemnt" fund and can not be accessed by the government as a source of funding operations. This account is not accessible to the individual account holde until the new retirement age of 70. You want to retire before then, use a separate retirement vehicle that you have started.

 

Now, the only problem is to determine how we're going to raise enough revenue to continue to float those who are on or will receive SS. I guess the 50+ group that will receive it continue to put in, but then there will be a vacuum when they hit retirement age...

 

Nevermind, we're all screwed....

[The Holy Roller]

I'd be happy just to get the $$ back that I had stolen from my paychecks contributed. No interest. Not even a thank you. Just the money I put in.

[nuke'em ttg]

 

this is embarassing,if ya screw somethun up or can't do the job yer fired, right

[SEC=UGA]

I wonder what our streets would look like if 20% of our population had 0 dollars?

 

 

I forgot to add, you're a dumbass.

 

You do relaize that the 55+ people are some of the richest in the nation as a group, right. It isn't as if you got rid of SS that they would have, as you put it, $0.

[WaterMan]

I forgot to add, you're a dumbass.

 

You do relaize that the 55+ people are some of the richest in the nation as a group, right. It isn't as if you got rid of SS that they would have, as you put it, $0.

 

So rich people are collecting SS? Why is that?

[Savage Beatings]

recent proposals like the end of Social Security

 

[SEC=UGA]

So rich people are collecting SS? Why is that?

 

Because the government is legally obliged to pay them back a portion of the money that they put into SS. I agree with you, it is a stupid and ill conceived program.

[Ursa Majoris]

Because the government is legally obliged to pay them back a portion of the money that they put into SS. I agree with you, it is a stupid and ill conceived program.

It's actually brilliant if it's repackaged as mandatory insurance. This would lead to a hugh drop in the tax rate required to fund it. The problem is simple - people who don't need it currently get it because it's a universal entitlement.

[TimC]

I wonder what our streets would look like if 20% of our population had 0 dollars?

 

We'll see if Obama is re-elected.

[WaterMan]

Because the government is legally obliged to pay them back a portion of the money that they put into SS. I agree with you, it is a stupid and ill conceived program.

 

I know. We should have never helped out the majority of our country. We should have just been a country of wealthy business owners.