Has Social Security reform been debated here?

Thread starter #1

Junebug

Senior Member
Simple curiosity...I was poking around in this forum and couldn't find any related threads.

One view has Social Security continue to be managed by the gov't. for the forseeable future.

Another view gives folks the chioce of "opting out" (at least a portion) of paid SS taxes to be invested by the individual at their own discretion.

There may be other options, of which I am not aware. Both platforms agree that within 30ish years, the Social Security benefit as we now know it will be bankrupt.

What say ye?
 
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mpowell

Senior Member
i pray teacher's retirement will still be solvent when i hit 53! that's one good thing about teaching, the retirement is not bad at all considering the amount we put in compared to what we can draw.

as for SS, working as a teacher in bulloch county i don't pay in. i get to keep my money! so, i take some and invest it in a 403(b) account.

i'm all for letting folks take their hard earned money and invest it in securities as long as they're not flat out gambling on penny stocks or junk bonds. there should be limitations so those who aren't investment savvy don't do something they'll regret.
 
I have always contended that the gov't can keep whatever I have put in as long as I don't have to put in anymore. I believe I can handle my money better that they can (but who couldn't?).
 

GeauxLSU

Senior Member
Not sure why retirement is the business of the federal government in the first place at all! ::huh:
I'm assuming my lifetime contributions are nothing more than a donation to support yet another failing socialist program... Sure has been a HEFTY donation so far... :rolleyes:
Hunt/fish safely,
Phil
 
Thread starter #5

Junebug

Senior Member
I'm wonder when the SS tax was initiated 1920s, 1940s; does anyone know?

Some cite the number of baby-boomers for draining the fund, but if SS was in place around the time they were born and during their working years, wouldn't they have put in enough to support themselves (provided it was managed properly).

Some point to the average lifespan increase, and people living longer after retirement thus drawing more from the fund. Once again, didn't these now-elderly folks pay into the plan? For 20, 30, or even 40 years?

Junebug
 

GeauxLSU

Senior Member
Junebug

Here you go http://www.ssa.gov/history/history.html
Though the things you mention are contributing factors, remember, some folks receive without ever putting anything in and some folk's (or their dependents') withdraw MORE than they contribute. That coupled with the fact that the current contributors are funding the current beneficaries is a multi-faceted financial train wreck. It's a fundamentally flawed system. Sounds like something the government would design. Oh wait a minute....
Hunt/fish safely,
Phil
 
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