Good. Give me the $10k and let me stop throwing my money away into SS taxes. I'll get a lot more out of that lump sum than whatever paltry payout I'm scheduled to get a few decades from now.
It was a nice idea 80 years ago, and it worked for awhile, but all ponzi schemes finally hit their wall.
Of course we all know this will never actually happen. Neither party has the balls to really go after entitlement reform. The AARP has them scared shitless.
So, if you're in your 40's, you've already paid into it for about 20 years right? I think Im scheduled to get over $3k a year in 20 years. If you plan to live another 10 years, that's 30k. Hmmm. The more I think about this, maybe I would want that 10K up front right now? Edit...only if I get to stop paying into the program.
Do you mean $3k per month? Even with SS being as insolvent as it is, I can't imagine projected payouts are nearly as low as $3k/year. That's far less than almost all of us pay every year in SS taxes alone.
Either way, I trust my own investing with that money a lot more than the convaluted scheme the Treasury has.
even discussing shit like this when unemployment is nearing 20% is Hoover-esque
Uh....how you gonna pay for the entitlements otherwise?
More loans from the Chinese overlords? Backed by what? Their already overleveraged financial system?
Tax revenue are set to plummet. Or are you thinking maybe the US government should nationalize and confiscate property to stay liquid? Scaling back is going to have to happen everywhere.
Very Castro-esque of you.
nobody fucking cares about deficits anymore. voters don't. republicans don't. democrats don't. Cutting spending right now will only accelerate our march towards another great depression.
Unless we stop the madness and get back to work.
that won't change anything. Even if the economy is "opened" no one is gonna fly, eat out, or do anything.
I'm making reservations now for Saturday dinner! So you're wrong. I'll also get a haircut. You can cower at home under mom's bed.
even discussing shit like this when unemployment is nearing 20% is Hoover-esque
Uh....how you gonna pay for the entitlements otherwise?
More loans from the Chinese overlords? Backed by what? Their already overleveraged financial system?
Tax revenue are set to plummet. Or are you thinking maybe the US government should nationalize and confiscate property to stay liquid? Scaling back is going to have to happen everywhere.
Very Castro-esque of you.
nobody fucking cares about deficits anymore. voters don't. republicans don't. democrats don't. Cutting spending right now will only accelerate our march towards another great depression.
Unless we stop the madness and get back to work.
that won't change anything. Even if the economy is "opened" no one is gonna fly, eat out, or do anything.
even discussing shit like this when unemployment is nearing 20% is Hoover-esque
Uh....how you gonna pay for the entitlements otherwise?
More loans from the Chinese overlords? Backed by what? Their already overleveraged financial system?
Tax revenue are set to plummet. Or are you thinking maybe the US government should nationalize and confiscate property to stay liquid? Scaling back is going to have to happen everywhere.
Very Castro-esque of you.
nobody fucking cares about deficits anymore. voters don't. republicans don't. democrats don't. Cutting spending right now will only accelerate our march towards another great depression.
Unless we stop the madness and get back to work.
that won't change anything. Even if the economy is "opened" no one is gonna fly, eat out, or do anything.
Why is it that people fall for the false binary of "stay at home" or "business as usual"?
As if a mild recession is the same thing as a decade long depression.
The potential of 25% unemployment is more than a mild recession.
That said, I’m no economist but I have doubts that anything other than “business as usual” will bring the economy to where it needs to be. That also being said, it will not be business as usual anywhere by November. Unemployment will still be at a number that’s damning during normal times and would be a lead pipe cinch to lose an election. It’ll come down to messaging for Team Trump and if he can spin statistics to say what an anomaly this was and not his fault.
You need someone to spin facts that are in front of your face?
The left drums up fear with unprecedented pandemic that will kill millions, forcing shut down, drags feet, creates chaos, tanks economy, acts shocked the economy tanks, blames Trump.
The shamelessness of suggesting this is on Trump is special.
I've said from the beginning, if it gets Trump out in November it will all be worth it. That's all this is.
I lean left and I don’t say it’s all on Trump. Obama himself even said that any administration would have been rocked and affected by it. The advantage for Trump is that he can say and is saying “look at what I did before, I can do it again.”
The key, as always, will be seeing if the swing states buy the messaging. You already have a horde of people mobilized to vote against him based on social issues, but no election is won on those. The GOP is also burdened by the congressional elections being a referendum on Trump as well.
Even if Trump has culpability, the USA would've had the most deaths in the world regardless of administration.
Just blaming him for the late response and not providing a plan for to handle the crisis moving forward, which is all I've seen Biden do, is a loser.
even discussing shit like this when unemployment is nearing 20% is Hoover-esque
Uh....how you gonna pay for the entitlements otherwise?
More loans from the Chinese overlords? Backed by what? Their already overleveraged financial system?
Tax revenue are set to plummet. Or are you thinking maybe the US government should nationalize and confiscate property to stay liquid? Scaling back is going to have to happen everywhere.
Very Castro-esque of you.
nobody fucking cares about deficits anymore. voters don't. republicans don't. democrats don't. Cutting spending right now will only accelerate our march towards another great depression.
Unless we stop the madness and get back to work.
that won't change anything. Even if the economy is "opened" no one is gonna fly, eat out, or do anything.
Why is it that people fall for the false binary of "stay at home" or "business as usual"?
As if a mild recession is the same thing as a decade long depression.
if the government imposes austerity it will be a decade long depression. Opening the economy alone isn't enough.
They just authorized 6 trillion in new spend. Does that look like austerity to you?
Good. Give me the $10k and let me stop throwing my money away into SS taxes. I'll get a lot more out of that lump sum than whatever paltry payout I'm scheduled to get a few decades from now.
It was a nice idea 80 years ago, and it worked for awhile, but all ponzi schemes finally hit their wall.
Of course we all know this will never actually happen. Neither party has the balls to really go after entitlement reform. The AARP has them scared shitless.
So, if you're in your 40's, you've already paid into it for about 20 years right? I think Im scheduled to get over $3k a year in 20 years. If you plan to live another 10 years, that's 30k. Hmmm. The more I think about this, maybe I would want that 10K up front right now? Edit...only if I get to stop paying into the program.
Do you mean $3k per month? Even with SS being as insolvent as it is, I can't imagine projected payouts are nearly as low as $3k/year. That's far less than almost all of us pay every year in SS taxes alone.
Either way, I trust my own investing with that money a lot more than the convaluted scheme the Treasury has.
Sorry, yes meant month and I would agree that I could do far more with that $10K over the next 20 years. But my guess is the exchange wouldn't include getting out of the taxes.
Social security was always a ponzi designed to “fund government today’ for a ‘secure retirement tomorrow”. Taxes were collected on all workers upon implementation but the first benefits began trickling out years later. The employment base (and subsequent tax revenue) always grew faster than benefits paid. Government used the float as operating income.
Algore exploited public ignorance of social security in his famous “Lockbox” lie
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Either way, I trust my own investing with that money a lot more than the convaluted scheme the Treasury has.
Just blaming him for the late response and not providing a plan for to handle the crisis moving forward, which is all I've seen Biden do, is a loser.
As long as the government doesn't raid the program to pay for other things.
Millions will line up to take that deal.
Social security was always a ponzi designed to “fund government today’ for a ‘secure retirement tomorrow”. Taxes were collected on all workers upon implementation but the first benefits began trickling out years later. The employment base (and subsequent tax revenue) always grew faster than benefits paid. Government used the float as operating income.
Algore exploited public ignorance of social security in his famous “Lockbox” lie