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Old 05-23-2013, 03:32 PM   #1
StocktonFan
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Default Proposal to fix Social Security

The current draw to America is no longer opportunity, it's government handouts really.

Social security has long been abused here, and that's still only a part of the reason why it's failing.

So i'm going to propose a hypothetical "solution", it is by no means concrete, add or remove as you like but lets keep it civil and informative.

Currently, once an individual becomes a US citizen, they have the right to social services such as social security. It does not matter if they've worked here for a year or had a work visa and had worked here for 20 years.

Americans who were born in the US have paid a great portion of their salary to this social service and they get the same treatment. How can we equalize this?

E/2 + W = Years of social security.

E = Education post high school

W = years worked full time

W = P/2 = P = years worked half time


So basically, going to school longer will not punish the students social service and obviously neither will working for W-years.

Ex. I've been in school for 6 years post-high school and have worked full time 2 years.

6/2 + 2 =i've earned 5 years of social security, not lifetime for six years of work.

How do you feel about such change?
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Old 05-23-2013, 03:41 PM   #2
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Default Re: Proposal to fix Social Security

Ex.

Dude gets a job at 18, never goes to school and retires at 55.

W = 55-18 = 37

0/2 + 37 = 37 years of social security.

this individual will have social security until he is 92.
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Old 05-23-2013, 03:50 PM   #3
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Default Re: Proposal to fix Social Security

Quote:
Originally Posted by StocktonFan
Ex.

Dude gets a job at 18, never goes to school and retires at 55.

W = 55-18 = 37

0/2 + 37 = 37 years of social security.

this individual will have social security until he is 92.

So what he should do after 92? Hang himself?
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Old 05-23-2013, 03:55 PM   #4
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Default Re: Proposal to fix Social Security

I'm not a fan, because it doesn't address the fundamental problem with Social Security which is that it's a Ponzi scheme. Actually it's even worse than a Ponzi scheme because those are comprised of willing investors, whereas Social Security forces citizens to participate. There is no proposal to fix social security. The best thing is to ween ourselves off of it, and return to private retirement plans that you can buy on the market.
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Old 05-23-2013, 03:56 PM   #5
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Default Re: Proposal to fix Social Security

Quote:
Originally Posted by CeltsGarlic
So what he should do after 92? Hang himself?

Did you miss the part where i say this is not concrete or is everyone in your country just as retarded?
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Old 05-23-2013, 04:07 PM   #6
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Default Re: Proposal to fix Social Security

I have an idea- we remove or raise the payroll tax cap.
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Old 05-23-2013, 04:10 PM   #7
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Default Re: Proposal to fix Social Security

Quote:
Originally Posted by Nanners
I have an idea- we remove or raise the payroll tax cap.

Again, the problem is elderly individuals gaining citizenship and being entitled to just as much social security benefits. this is killing us... i pay a great portion of my salary towards social security (SS) only to have some foreigner come in and start utilizing it without any input.

IMO, if we want fair social security, it has to be done through individual basis.

Now if we do increase the tax cap, we're just paying more for others to benefit... let's be real, it will most likely still be bankrupt by the time either you or I retire.
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Old 05-23-2013, 04:27 PM   #8
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Default Re: Proposal to fix Social Security

Quote:
Originally Posted by StocktonFan
Again, the problem is elderly individuals gaining citizenship and being entitled to just as much social security benefits. this is killing us..

Here's a proposal. You can learn the facts before you start your argument.
http://www.socialsecurity.gov/policy.../v71n2p17.html
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Old 05-23-2013, 04:28 PM   #9
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Default Re: Proposal to fix Social Security

Quote:
Originally Posted by StocktonFan
Again, the problem is elderly individuals gaining citizenship and being entitled to just as much social security benefits. this is killing us... i pay a great portion of my salary towards social security (SS) only to have some foreigner come in and start utilizing it without any input.

IMO, if we want fair social security, it has to be done through individual basis.

Now if we do increase the tax cap, we're just paying more for others to benefit... let's be real, it will most likely still be bankrupt by the time either you or I retire.


"If all earnings were subject to the payroll tax, but the base was retained for benefit calculations, the Social Security Trust Funds would remain solvent for the next 75 years."

http://www.pbs.org/newshour/business...iminating.html
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Old 05-23-2013, 04:47 PM   #10
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Default Re: Proposal to fix Social Security

Quote:
Originally Posted by Nanners
"If all earnings were subject to the payroll tax, but the base was retained for benefit calculations, the Social Security Trust Funds would remain solvent for the next 75 years."

http://www.pbs.org/newshour/business...iminating.html

There is no social security trust fund Nucka. And I'm sure their estimates over the next 75 years include 1% or less inflation, no rise in the interest payments on our debt, no recessions, and steady economic growth. In other words.. assumptions that aren't going to occur.
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Old 05-23-2013, 04:49 PM   #11
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Default Re: Proposal to fix Social Security

Quote:
Originally Posted by joe
There is no social security trust fund Nucka. And I'm sure their estimates over the next 75 years include 1% or less inflation, no rise in the interest payments on our debt, no recessions, and steady economic growth. In other words.. assumptions that aren't going to occur.

Just wondering, is there a single poster on this message board that has ever agreed with your ayn rand libertarian nonsense?
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Old 05-23-2013, 04:55 PM   #12
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Default Re: Proposal to fix Social Security

Quote:
Originally Posted by Nanners
Just wondering, is there a single poster on this message board that has ever agreed with your ayn rand libertarian nonsense?

Yes, several. And what I said about there being no trust fund was a fact, sorry to burst your bubble. Social security revenue is treated just like any other income the government receives- they don't set it aside and lock it in a safe. They spend it. Social security payments are made out of the general revenue, not from a trust fund. If (when) the interest payment on our debt increases, the government will be unable to finance all of their obligations. Whether it's defaulting on domestic responsibilities, defaulting on the debt, or inflating the money supply to "pay" for those things- something will have to give.
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Old 05-23-2013, 04:57 PM   #13
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Default Re: Proposal to fix Social Security

Quote:
Originally Posted by joe
There is no social security trust fund Nucka. And I'm sure their estimates over the next 75 years include 1% or less inflation, no rise in the interest payments on our debt, no recessions, and steady economic growth. In other words.. assumptions that aren't going to occur.

Why are you sure of that? Is that belief or knowledge? Cuz it sounds like you are making a bunch of assumptions.
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Old 05-23-2013, 05:03 PM   #14
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Default Re: Proposal to fix Social Security

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Originally Posted by KevinNYC
Why are you sure of that? Is that belief or knowledge? Cuz it sounds like you are making a bunch of assumptions.

Most government studies concerning finance/the economy contain those assumptions.
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Old 05-23-2013, 05:03 PM   #15
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Default Re: Proposal to fix Social Security

Quote:
Originally Posted by joe
Yes, several. And what I said about there being no trust fund was a fact, sorry to burst your bubble. Social security revenue is treated just like any other income the government receives- they don't set it aside and lock it in a safe. They spend it. Social security payments are made out of the general revenue, not from a trust fund. If (when) the interest payment on our debt increases, the government will be unable to finance all of their obligations. Whether it's defaulting on domestic responsibilities, defaulting on the debt, or inflating the money supply to "pay" for those things- something will have to give.

my bubble seems to be intact.

http://en.wikipedia.org/wiki/Social_Security_Trust_Fund
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