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(Washington Post)   You know how the Social Security trust fund was going to run dry by 2036? Well, turns out that might have been a tad bit optimistic   (washingtonpost.com) divider line 176
    More: Obvious, social security, Labor Secretary Hilda Solis, trust funds, insurance fund  
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10758 clicks; posted to Main » on 23 Apr 2012 at 8:35 PM (3 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-04-23 08:30:40 PM  
maybe the next time the boomers decide to start a war, we should send them over to fight it.

/this is now and always has been a boomer hate thread
 
2012-04-23 08:37:57 PM  
Wait,you mean pyramid schemes don't work?

Screw the math, the old people want "their" money!
 
2012-04-23 08:38:00 PM  
Can I stop paying ss taxes now?
 
2012-04-23 08:38:15 PM  
Thank you George Bush for throwing our throwing our surplus down the toilet.
 
2012-04-23 08:39:08 PM  
Well the new number is optimistic too. It assumes no one will dismantle the system so they can show it will not work.
 
2012-04-23 08:40:19 PM  
If we raise the max amount if salary which is taxable, it will be fine. It's capped at like 100k. Raise that to $200k and it will survive the boomers dying.
 
2012-04-23 08:40:41 PM  
When you cut the payroll deduction by 33% for several years in a row, the lifespan of the trust fund goes down.

Dumbest decision of the Obama administration.
 
2012-04-23 08:40:44 PM  
Why do boomers always freak out about crap like this as if us Gen-Xers ever imagined we'd see a dime of it anyway?
 
2012-04-23 08:40:51 PM  
It is going to be so great when all the Boomers die off. They have been the greatest burden Western Civilization has ever known.
 
2012-04-23 08:41:32 PM  
"Well, you see... when I was your age, I was killin' them Nazis... so now, all of you have to pay for my pills!"
bdnpull.bangorpublishing.netdna-cdn.com
 
2012-04-23 08:41:41 PM  
The only way Social Security "runs dry" is if unemployment is 100%

/easiest test out there to see who's full of shiat and/or clueless about how s.s. works
 
2012-04-23 08:42:03 PM  

1derful: It is going to be so great when all the Boomers die off. They have been the greatest burden Western Civilization has ever known.


To be replaced by twice as many Gen-X'ers with a serious sense of entitlement.
 
2012-04-23 08:42:10 PM  
HA! HA!

WE HAVE BIGGER PROBLEMS
THAN SOCIAL SECURITY FAILING
 
2012-04-23 08:42:39 PM  
In order to buy popularity in the short term, "Comrade Obamavich" has reduced the SS deduction on your paycheck, thius ensuring you will either pay more or receive less later on---probably both.

Don't be fooled.
 
2012-04-23 08:43:00 PM  
This might be the only topic that makes me start ranting and raving like a Ron Paul supporter.

"THEY TAKE YER DOLLAR AND GIVE YA BACK 75 CENTS! THAT'S WHAT'S WRONG WITH AMERICA! FARK THE ELDERLY! GOLD STANDARD!"

But really. I support what Social Security is supposed to be, but they need to make it 100 percent transparent and bulletproof or stop faking it.

And sadly, nobody's got the balls to make it bulletproof...
 
2012-04-23 08:43:09 PM  
As long as we can own a gun and our fingers still work,,,, this won't matter.
 
2012-04-23 08:43:23 PM  

foo monkey: If we raise the max amount if salary which is taxable, it will be fine. It's capped at like 100k. Raise that to $200k and it will survive the boomers dying.


This. I would even argue that the cap could float back down after the demand on the system is reduced as boomers die.

/I blow past the cap every year
//Have no problem with SS and Medicare taxing the whole thing
 
2012-04-23 08:45:23 PM  

Omnivorous: When you cut the payroll deduction by 33% for several years in a row, the lifespan of the trust fund goes down.

Dumbest decision of the Obama administration.


No, that was Bush.
He traveled forward in his time machine and convinced 0bama to do it.

Blame Bush!
 
2012-04-23 08:45:29 PM  
No worries, because in ten years the government will pass the Logan's Run Law.
 
2012-04-23 08:45:32 PM  
If SS is so popular, make contributions voluntary and in direct proportion to received benefit.

You can get 13% of each check taxed away from you from 16-66 and get $1k/mo when you retire
I'll keep it, bury it in a coffee can in my backyard and see who comes out ahead.
 
2012-04-23 08:45:50 PM  
Just remember all the promises they are making about Obamacare. They made the same ones about Social Security. It will never run out of money. And now it will.
 
2012-04-23 08:45:58 PM  

1derful: It is going to be so great when all the Boomers die off. They have been the greatest burden Western Civilization has ever known.


The stupidest thing they did was produce a generation or two of spoiled brats who can't take any responsibility for themselves, and just blame it all on mom & dad.
 
2012-04-23 08:47:20 PM  

o5iiawah: If SS is so popular, make contributions voluntary and in direct proportion to received benefit.

You can get 13% of each check taxed away from you from 16-66 and get $1k/mo when you retire
I'll keep it, bury it in a coffee can in my backyard and see who comes out ahead.


First, you'd need to get a job to have money to bury.
 
2012-04-23 08:47:41 PM  

Omnivorous: When you cut the payroll deduction by 33% for several years in a row, the lifespan of the trust fund goes down.

Dumbest decision of the Obama administration.


THIS.
 
2012-04-23 08:48:56 PM  

foo monkey: If we raise the max amount if salary which is taxable, it will be fine. It's capped at like 100k. Raise that to $200k and it will survive the boomers dying.


Is that true? I shouldn't be surprised that there's a loophole for rich people, but wow. You can never be cynical enough about this stuff.
 
2012-04-23 08:49:35 PM  

olddinosaur: Omnivorous: When you cut the payroll deduction by 33% for several years in a row, the lifespan of the trust fund goes down.

Dumbest decision of the Obama administration.

THIS.


Because it was cutting taxes for poor and middle class, not rich folks, right?
 
2012-04-23 08:49:51 PM  

ghare: 1derful: It is going to be so great when all the Boomers die off. They have been the greatest burden Western Civilization has ever known.

The stupidest thing they did was produce a generation or two of spoiled brats who can't take any responsibility for themselves, and just blame it all on mom & dad.


You sound 50-65 years old.
 
2012-04-23 08:50:33 PM  

ghare:
The stupidest thing they did was produce a generation or two of spoiled brats who can't take any responsibility for themselves, and just blame it all on mom & dad.


Well that and destroying the U.S. economy without contributing jack shiat to society.
 
2012-04-23 08:53:03 PM  

SlothB77: Just remember all the promises they are making about Obamacare. They made the same ones about Social Security. It will never run out of money. And now it will.


transitionculture.org
 
2012-04-23 08:53:08 PM  
why dont we just kill all the boomers and compost their bodies to be sold as fertilizer?

they are the most entitled generation in the history of the country. they grew up during a time when minimum wage was $11 and hour. college was heavily subsidized and you could get a good job after graduating. the economy was the most prosperous during the 50s 60s and 70s than it has ever been throughout the the nations history. They enjoyed massive government protections in the post new deal era. they enjoyed a stable economy free of financial crisis. they enjoyed a time when jobs were not being shipped to china and india and mexico. compared to the experience of any other american, the boomers have had the easiest lives. they call us the snowflake generation when the reality is that they are the true snowflakes. they took the wonderous world that was inherited from the greatest generation and left the millenials a smoldering ruin of ashes.

fark all of you selfish pieces of shiat.
and yes. i work 65+ hours a week.
 
2012-04-23 08:55:04 PM  

ghare: olddinosaur: Omnivorous: When you cut the payroll deduction by 33% for several years in a row, the lifespan of the trust fund goes down.

Dumbest decision of the Obama administration.

THIS.

Because it was cutting taxes for poor and middle class, not rich folks, right?


No, see you don't understand.

Obama: "I'm raising taxes!" GOP: SOCIALISSM REDISTRIBOOTIUN!

Obama: "I'm cutting taxes!" GOP: STUPID IDEA (but don't you farking dare raise them or leave them as they are)
 
2012-04-23 08:55:22 PM  

lazyguineapig33: why dont we just kill all the boomers and compost their bodies to be sold as fertilizer?



Reported to www.attackwatch.org
 
2012-04-23 08:57:01 PM  

lazyguineapig33: they are the most entitled generation in the history of the country. they grew up during a time when minimum wage was $11 and hour


The minimum wage was $11 and hour? Citation?
 
2012-04-23 08:57:04 PM  

Rug Doctor: foo monkey: If we raise the max amount if salary which is taxable, it will be fine. It's capped at like 100k. Raise that to $200k and it will survive the boomers dying.

Is that true? I shouldn't be surprised that there's a loophole for rich people, but wow. You can never be cynical enough about this stuff.


Loophole for the rich? Social security is a giant waste of a tax. The only reason for its existance is to force people to save money for their retirement because they can't be counted on for themselves and provide the government with another source of money to plunder.
 
2012-04-23 08:58:09 PM  
At some point we will not be able to borrow any more money.
The US will default.
It won't called if a default but it will not be able honor its obligations.
The rich will be taxed but we will realize that is the barest of stopgaps.

Cities won't have money because soon 50% of money budgeted for employees will be paid out to retired employees. That just won't sit well as local services decline.
 
2012-04-23 09:00:59 PM  

SageC: "Well, you see... when I was your age, I was killin' them Nazis... so now, all of you have to pay for my pills!"


We'd all be speaking German now!
 
2012-04-23 09:01:07 PM  
Doesn't matter. Just leave the law alone and by the time I retire (I'm in Generation X) the boomers will be dying off and this huge imbalance will be flipped upside down, in my favor. Many more workers paying in vs. fewer retirees collecting.
 
2012-04-23 09:02:05 PM  

pudding7: 1derful: It is going to be so great when all the Boomers die off. They have been the greatest burden Western Civilization has ever known.

To be replaced by twice as many Gen-X'ers with a serious sense of entitlement.


"twice as many"?

Uh.... You may want to look up what boomers/x'ers are all about.
 
2012-04-23 09:02:42 PM  
Trust Fund?

People are still falling for that gag?
 
2012-04-23 09:05:18 PM  

ghare: olddinosaur: Omnivorous: When you cut the payroll deduction by 33% for several years in a row, the lifespan of the trust fund goes down.

Dumbest decision of the Obama administration.

THIS.

Because it was cutting taxes for poor and middle class, not rich folks, right?


Actually, SS is a regressive tax: there is a top-end cutoff, and it is not very high. Warren Buffet pays a tiny fraction of what I pay, yet he receives a much larger benefit.

He is also free to work for $1 a year aqnd draw full belefits, where I face severe penalties if I make over $14 K annually.

That is why I, like most Libertarians, favor the Flat Tax, sometimes called the Fair Tax: You get so much---you pay so much; no exceptions, no excuses.

You REALLY want to see tax breaks for the rich, just lok at that $850 Billion Comrade Obamavich handed out to the Wall Street fat cats, who were all rich anyway.

BTW, how's all this hopey--changey stuff workin out fer ya?
 
2012-04-23 09:05:48 PM  
http://oregonstate.edu/instruct/anth484/minwage.html

fastest google search, few data points. it got up to 11 IIRCC
 
2012-04-23 09:07:18 PM  
The road to hell is paved with good intentions.
 
2012-04-23 09:07:28 PM  

Coelacanth: Thank you George Bush for throwing our throwing our surplus down the toilet.


I remember catching CSPAN about the time the surplus was projected. Of course, everyone had an idea on how to spend it. There was a lone congressman ( I wish I could remember which one ) that was giving a speech on the floor telling how it wasn't really a surplus since they were counting SS funds in the general fund and giving the SS trust fund and IOU just like they always have. He was proposing restoring that money before spending a surplus. He had charts and everything. But nobody listened to him.
 
2012-04-23 09:07:51 PM  

olddinosaur: Actually, SS is a regressive tax: there is a top-end cutoff, and it is not very high. Warren Buffet pays a tiny fraction of what I pay, yet he receives a much larger benefit.


No he doesn't. His SS benefits are capped and he will get the same max payout per month as someone who makes 110k.
 
2012-04-23 09:07:53 PM  
Well - the trust fund didn't exist until Carter - social security was always pay as you go - people started paying more than their parents then to fix a current shoftfall and to plan for the demographic bulge. So - it was always planned to run out. It's running out slightly ahead of time.

You know - it's actually an easy fix. The Stirling and cranberry is just the usual shock doctrine nonsense. Damnable boomers - paying more for 30 years now to cover their parents & plan ahead to pay their own way.

Say - crazy idea - let's raise Rica less than one percent over the next twenty years and make sure future generations are covered & have the trust fund around slightly longer than planned to be sure. Then it can expire - if demographics show we're back to pay as you go.

Or - do nothing. Being in poverty when you're older isn't very attractive. But hey - why plan ahead or demand your due when you can be a patsy.
 
2012-04-23 09:08:14 PM  
So many blame the baby boomers when they should focus on the systematic corporate greed that has either outsourced or or automated with machines tens of millions of jobs over the last 30 years. The SS modal we had was perfectly fine. They (task masters) wanted more.

/Born in 64
 
2012-04-23 09:09:14 PM  

thomps: maybe the next time the boomers decide to start a war, we should send them over to fight it.

/this is now and always has been a boomer hate thread


I've made that argument before.

We expend 20 years of resources to raise a trooper who could die in a matter of minutes in combat. Why not allow those resources to be used to raise a working adult who can prosper and improve society.

When they've reached 45-50 they can opt to start their service retirements. By then they've contributed at least as much as they've consumed. Then if they want to serve they can start.

When they've reached 80 they get drafted.
 
2012-04-23 09:10:20 PM  
Sturm and Drang & FICA - in non autocorrect land.
 
2012-04-23 09:13:11 PM  
But don't you dare lift the cap on social security taxes because then we wouldn't have these sensational headlines.
 
2012-04-23 09:14:02 PM  
I know alot of Farkers will never support Ron Paul because he is a "neo confederate, a neo Nazi, a racist, he wants to enslave women, he is the anti-Krugman, an anti-semite" (did I forget anything?) but he would immediately bring the troops home saving a ton of money.

Mitt Romney wants to increase militarism and we've seen how much Obama has done for the war business. But, let's keep rearranging those deck chairs.
 
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