Left wing protests

LOCKHART · Jul 17, 2018

I worked with a "liberal" at my last job, and he lumped SS payments into entitlements. I told him his hero, FDR, came up with the SS program he so obviously detested, and for him to not go about trying to change the rules now! His other hero, Lyndon Johnson is the one who got Congress to pass a law or whatever, to allow his administration to dip into SS to pay for his "Great Society" programs and later HIS Vietnam war! Social Security was FULL of money and they took what they wanted and left useless I.O.U.'s in the system to "pay back later!". Well, it's now " later" and there's no money to pay it back"

easy rider · Jul 17, 2018

LOCKHART said:
I worked with a "liberal" at my last job, and he lumped SS payments into entitlements. I told him his hero, FDR, came up with the SS program he so obviously detested, and for him to not go about trying to change the rules now! His other hero, Lyndon Johnson is the one who got Congress to pass a law or whatever, to allow his administration to dip into SS to pay for his "Great Society" programs and later HIS Vietnam war! Social Security was FULL of money and they took what they wanted and left useless I.O.U.'s in the system to "pay back later!". Well, it's now " later" and there's no money to pay it back"

Damn right it's an entitlement and soon I'll be entitled.

LOCKHART · Jul 17, 2018

satx78247 · Jul 17, 2018

To All,

Had I been allowed to KEEP & INVEST all the SSS money that I've paid since I was 16YO, until I retired I would be MUCH better off financially.
(That much $$$$$$ invested in most any "solid stock" would be at least 2X & perhaps 3-4X the amount of my current SS monthly payment.)

yours, satx

AustinN4 · Jul 17, 2018

easy rider said:
Damn right it's an entitlement and soon I'll be entitled.

It is a self funded pension and you will never get all of your money back, let alone any appreciation.

And for the privilege of collecting my self-funded pension, 100% of it is included in my taxable income so I gotta give part of it back!

LOCKHART · Jul 17, 2018

It's a damn ponzi scheme is what it is! And if any politician came up with SS now days he would probably be tarred & feathered, and run out of town on a rail!

OFFascist · Jul 17, 2018

August 18th in Austin, it looks like there will be some OCT folks attending.

Austin March Against Far-Left Violence
https://www.facebook.com/events/259089344824692/

easy rider · Jul 17, 2018

AustinN4 said:
It is a self funded pension and you will never get all of your money back, let alone any appreciation.

I'll also have a teacher's retirement and Navy cumulative.

AustinN4 · Jul 17, 2018

easy rider said:
I'll also have a teacher's retirement and Navy cumulative.

Lucky you! As you will also have to include 100% of your SS income in your taxable income each year like I do.

toddnjoyce · Jul 17, 2018

Id gladly forfeit all my previous Social Security contributions and future benefits to not have to pay into it ever again.

AustinN4 · Jul 17, 2018

toddnjoyce said:
Id gladly forfeit all my previous Social Security contributions and future benefits to not have to pay into it ever again.

If you are young you would be money ahead due to the much higher average compound growth rate you could get with high quality dividend paying investments.
That is what PO's me the most about having to pay all that money into SS at such a low return.

satx78247 · Jul 17, 2018

To All,

Fwiw, my childhood sweetheart started buying gold-mining stocks at 200.oo a month >3 decades ago. = Sandra is now literally a millionaire on what she made in just that one relatively small investment.
(She had other OCONUS investments of course, too, starting out with the 25K in life insurance that her mother left her.)

Had I given her to invest for me, what I've paid into SS, I would be WELL OFF now for sure.
(I am FAR from "a whizz" in investing in anything, though I once was in the commodities market in a VERY small way but made pretty good $$ in pork futures.)
BET (& that is what the futures market IS = gambling.) on what you KNOW is my advice, IF you get into commodities. = Our family was "moderately large" in swine production for 300 years plus, so pigs is one of the few subjects that I know much about.
Note: My beloved grandfather used to say that, "A moron can make money in swine, as a boar & 3 sows bought & bred for 3 years, selling only the only the unwanted males as 'feeders' & breeding the females, will yield over 400 sows to rebreed, plus a goodly pile of bucks from selling the male pigs."
He also said, "Cows are 'long money' & an excellent way to lose your toucas."
(A good-quality sow will bear about 28-30 shoats per year, with half being male to sell as "feeder pigs" & the other half being kept to breed. = Plotted on a graph, the "get" of a boar & 2 decent sows quickly becomes NOT "a Christmas tree" but rather a "straight line". - It's a little more complicated than that but NOT much more complicated.)

yours, satx

Lunyfringe · Jul 17, 2018

I'm 48, and as much as it sucks I am not planning on getting a dime of what I've put into SS... If I do, it will be gravy... thin, watered down, barely paletable gravy.

easy rider · Jul 18, 2018

For well over 30 years I have heard that social security would be down to nothing in the next decade.

Lunyfringe · Jul 18, 2018

easy rider said:
For well over 30 years I have heard that social security would be down to nothing in the next decade.

Right, I get that it's been chicken little for a long time, but I don't want to be old, crabby AND broke... so I have 401k and other investments that should be enough, and my wife has trusts from her grandfather's estate.

ETA: current estimates put running out of the cash "reserves" in 2034, which will mean that before I get benefits either
A) The amount of money being paid out has to drop (currently estimated at 79% of current payments)
or
B) Taxes of some sort will have to be increased to fund the current rate
or
C) Some combination of the above
of course, there's always the last option
D) The economy will have already collapsed at that point, so paying in US Dollars is worthless anyway.

I'm sure somebody can come up with other plans that invariably involve removing more people from receiving payments in one way or another.... that's really a sub-option of A)... killing off recipients by way of a single payer healthcare system, delaying the year benefits are paid, etc..

AustinN4 · Jul 18, 2018

Lunyfringe said:
... so I have 401k and other investments that should be enough,.......

Smart moves! Anybody that counts on only SS is a fool. It isn't enough to live on by itself anyway.

easy rider · Jul 18, 2018

Lunyfringe said:
Right, I get that it's been chicken little for a long time, but I don't want to be old, crabby AND broke... so I have 401k and other investments that should be enough, and my wife has trusts from her grandfather's estate.

By no means did I mean that to say you should rely on social security alone.

Lunyfringe · Jul 18, 2018

easy rider said:
By no means did I mean that to say you should rely on social security alone.

Ahh, but I don't count it in at all when I calculate retirement... so that's different than including it "as part of the retirement plan"... I plan to be fully funded without it.

TheDan · Jul 18, 2018

toddnjoyce said:
Id gladly forfeit all my previous Social Security contributions and future benefits to not have to pay into it ever again.

Ditto, plus it would be great to know my kid and grandkid never have their paycheck stolen to pay for it.

AustinN4 · Jul 18, 2018

Lunyfringe said:
Ahh, but I don't count it in at all when I calculate retirement... so that's different than including it "as part of the retirement plan"... I plan to be fully funded without it.

As I said, smart man!

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