amdx wrote:
On 7/31/2015 7:26 AM, Rex wrote:
On Thursday, July 30, 2015 at 8:50:51 PM UTC-5, amdx wrote:
I'm 60 yrs old and just now started to think I will not receive the
full Social Security benefit until death.
This article caused the change in my thinking.

http://www.nationalreview.com/articl...t-baby-boomers

Mikek

That disclaimer has been on my statements for many years. It's one
reason I started SS at 62

But it's more than the disclaimer.
Something will need to be done by 2033. Probably before.
Either raise SS withholding, reduce SS benefits or take it out of the
general fund. ah, oh wait.
In 2033 the lock box* will only have 73 cents for every $1 of out
going benefits.

* a mythical place within the general fund for the money that is
credited to the SS fund. The money credited to this account has been
spent. Then more money was borrowed and spent. Then more money was
borrowed and spent. :-(

What the government did (naturally when Dems had the White House and The
House and Senate at the same time) was literally, legally, the same
thing Jim Carey and Jeff Daniels did in Dumb and Dumber. They took the
money and replaced it with IOU's. But us conservatives are just so dumb
aren't we. Fox News is so stupid as certain posters like to say (well
actually I stopped watching all TV news in 1984). Bush is such a dummy,
etc. But seriously, Christopher Hitchens had a great retort for the
people who repeatedly chanted "Bush is stupid." He said it was the kind
of criticism stupid people would come up with. (His exact words are on
youtube somewhere, in a Bill Maher interview IIRC.)

During the 1990's they kept chanting "affordable housing" and I wondered
what the hell they could possibly have in mind. Pay construction
workers less? Open land for development? Repeal regulations? They
were more clever than that. It turned out what they had in mind was to
force banks to give mortgages away under threat of prosecution on Civil
Rights grounds.

So now, when they say there is no problem with Social Security, what do
they really have in mind this time? I think I know. They will
confiscate private property, starting with corporate property. Then
they will effectively take from the value of 401k's and other savings.
When they can't possibly get enough revenue from the current year's
income, they will essentially tax past years over again. Eventually
they will move on to personal property by indirect means like imposing
property taxes comparable to charging rent. When they achieve their
goal of the state owning all property there won't be a SS problem or any
problem because they'll just pull all the strings.

--