+- Twitist Forums (http://twitist.com)
+-- Forum: General Social Media & Marketing Forums (/forum-8.html)
+--- Forum: Social Marketing (/forum-10.html)
+--- Thread: Why are we worried about Social Security going broke when the surplus will continue to GROW until the youngest? (/thread-8672.html)
Why are we worried about Social Security going broke when the surplus will continue to GROW until the youngest? - Leesabrat - 10-13-2012 03:01 PM
baby boomers are all over 65? Then it will stabilize but not grow. And this is if we do NOTHING!
How does that make it "going broke"?
Why do the wealthy want to get rid of it? Is it because they will make more money if individuals gamble on the stock market? Or is it because corporations spend a lot of money funding half of their employees' contributions?
http://www.nationalmemo.com/social-security-is-not-going-broke/
- AnonymousDude - 10-13-2012 03:09 PM
The fact is Social Security and Medicare, which MANY Americans now depend on as a SOLE source of income and support, account for nearly half of all federal spending. That percentage will continue to increase in the coming years. Left on its current trajectory, overall entitlement spending is projected to more than double by 2049, thus consuming 100% of all tax revenue.
http://money.cnn.com/2011/01/21/news/economy/spending_taxes_debt/
Social Security Faces Unfunded Liability of $8.6T, or $73,167.83 Per Household
http://cnsnews.com/news/article/social-security-faces-unfunded-liability-86t-or-7316783-household
Medicare Faces Unfunded Liability of $38.6T, or $328,404 for Each U.S. Household
http://cnsnews.com/news/article/medicare-faces-unfunded-liability-386t-or-328404-each-us-household
- Take the red pill - 10-13-2012 03:09 PM
We should be worried about interest rates going up their current level of 0% and interest payments alone consuming 100% of the tax revenue.
- әɹÉɯoɹ - 10-13-2012 03:09 PM
Social Security is not in dire straits according to all reputable economists.
The right wing wackos have a vested interest in convincing people that it is in dire straits because they want to privatize it, thus shrinking the government at the same time they enrich themselves and their rich corporate friends.
It's always about the money, honey.
- duker918 - 10-13-2012 03:09 PM
Its a pie in the sky opinion piece. Social Security is an unfunded ponzi scheme and has been from the start. ALL social security tax receipts go in to the general fund and have from the start. They are replaced with 'special issue' treasury securities. I'd prefer to keep my own money thanks.
- i - 10-13-2012 03:09 PM
Dear little Brat,
You are going to be in for a sad awakening. People are living much longer now then they were twenty years ago. The ratio of pay out to pay in is drastically increasing. If the law remains exactly the way it is social security will go bankrupt in about fifteen years. I feel that if you paid into social security you should at least get your money back plus interest. The government politicians who have their own exotic pensions plans and pay nothing into social security will decide for you how social security ends. It will have to end eventually but I hope for our sakes that we get our money back. It's just like gas. Gas companies make us pay what they want to and are rarely made accountable. I hope we make our government accountable on the soc security issue.