Repeal Healthcare bill? - PeachParts Mercedes-Benz Forum

buffa98 · #1 10-20-2010, 05:32 PM

Quote:

Originally Posted by Honus

While I am sorry to hear about your relatives' misfortune, they are the ones who make SS work. The whole system depends on having some percentage of people pay in more than they get back. It is socialism, pure and simple. It is also, IMHO, among the greatest achievements of any government in history. It is highly efficient, with much lower administrative costs than any private system could ever match. It has kept countless Americans out of poverty. To me, SS is untouchable. Anyone who favors any sort of privatization will not get my vote.

Thank you for the thoughts.

BUT when it was enacted there were 28(?) people working for every one person drawing. Now the ratio is closer to 4.5 to one. When the Baby boomer star to retire in droves 2011(at age 65) there will an even lower number. The system as designed does not work. My answer is let the people who are young enough let them opt out of the system(myself included) That way we would be responsible for our own retirement.

aklim · #2 10-20-2010, 05:40 PM

Quote:

Originally Posted by buffa98

Thank you for the thoughts.

BUT when it was enacted there were 28(?) people working for every one person drawing. Now the ratio is closer to 4.5 to one. When the Baby boomer star to retire in droves 2011(at age 65) there will an even lower number. The system as designed does not work. My answer is let the people who are young enough let them opt out of the system(myself included) That way we would be responsible for our own retirement.

Remember what happened with Madoff? When the pool of young suckers dried up, the old suckers bit the big one. Same with SS. If they let the youngsters like you off, what happens when the old ones of Ponzi Scheme claim money? Who pays into it? It is a Ponzi Scheme, is it not?

Honus · #3 10-20-2010, 10:36 PM

Quote:

Originally Posted by buffa98

Thank you for the thoughts.

BUT when it was enacted there were 28(?) people working for every one person drawing. Now the ratio is closer to 4.5 to one. When the Baby boomer star to retire in droves 2011(at age 65) there will an even lower number. The system as designed does not work. My answer is let the people who are young enough let them opt out of the system(myself included) That way we would be responsible for our own retirement.

I'm no economist, but it seems to me that SS has been clicking along for 70+ years without missing a beat. It needs adjustments to keep itself solvent, but I don't think we should scrap it.

One problem with letting people be responsible for their own retirement is that many people just won't do it. What do we do with them? Let them starve out in the street?

kknudson · #4 10-20-2010, 11:03 PM

Quote:

Originally Posted by Honus

I'm no economist, but it seems to me that SS has been clicking along for 70+ years without missing a beat. It needs adjustments to keep itself solvent, but I don't think we should scrap it.

You do understand there isn't one thin dime in the SS trust fund.
Our great leaders have spent it willy nilly.

More was coming in than going out, so out leaders spent that too.

Now the day is coming when there won't be enough coming in to cover whats going out so they'll have to start taking money out of the trust fund to make up the difference.
Oh wait, there's nothing in there, my oh my what will we do ??

Funny a corporation must have reserves to pay it's pension obligations, ah but this is the government.

Honus · #5 10-21-2010, 08:42 AM

Quote:

Originally Posted by kknudson

You do understand there isn't one thin dime in the SS trust fund.
Our great leaders have spent it willy nilly.

More was coming in than going out, so out leaders spent that too.

Now the day is coming when there won't be enough coming in to cover whats going out so they'll have to start taking money out of the trust fund to make up the difference.
Oh wait, there's nothing in there, my oh my what will we do ??

Modest adjustments now will make the system solvent for decades.

Quote:

Funny a corporation must have reserves to pay it's pension obligations, ah but this is the government.

Exactly right. This is one thing that only the federal government can do and it does it very, very well.

aklim · #6 10-21-2010, 09:06 AM

Quote:

Originally Posted by Honus

Modest adjustments now will make the system solvent for decades.

Exactly right. This is one thing that only the federal government can do and it does it very, very well.

Yeah, right. When your worker pool shrinks by 10, a minor change is needed. Let me cut your household income by a factor of 10 and you tell me that.

Now I see how you come about with that statement. You compare apples with oranges. Care to explain why if the govt can do something so well, we have this huge debt? Care to explain why they have so many cost overruns? Take that into consideration when you consider this. Remember Fannie and Freddie? They were wonderful till they needed to be bailed out. Consider that the govt has been able to do accounting tricks that nobody has been legally allowed to do and it still cannot balance it's checkbook. Now tell me, do you really think it can do what you think?

aklim · #7 10-21-2010, 09:00 AM

Quote:

Originally Posted by Honus

I'm no economist, but it seems to me that SS has been clicking along for 70+ years without missing a beat. It needs adjustments to keep itself solvent, but I don't think we should scrap it.

One problem with letting people be responsible for their own retirement is that many people just won't do it. What do we do with them? Let them starve out in the street?

'GM has been doing that too if you don't count the bailouts.

So let them starve. Let them be an example to the younger generation as to what happens when you don't take care of yourselves. If you kid doesn't want to stop sucking on Mama's Tit, what do you do? At the rip old age of 55, he still will be sucking on Mama and crapping in diapers.