August 24, 20223 yr 8 hours ago, Bill said: The problem with SS is that it was supposed to be one leg of a three legged stool: SS, pensions, and private savings. The latter two vanished like a fart in the wind. 401k's were never designed to be what they have become. If you want to fix the system, you have to start by making the system less reliant on SS. You do that by financial policy that benefits the middle class over all other classes. In terms of college tuition, I prefer the @vikas83 plan: make colleges underwrite the loans. That would pretty much fix the problem overnight. No, the problem with SS is that it is a Ponzi scheme. It was an attempt to get something for nothing — retirement benefits during the Great Depression for people who had not paid into the system. Their payments were subsidized by workers, who in turn were promised payments by future workers, projected out to infinity. It really doesn’t matter if it was only supposed to be a supplemental program. The problem is in its financial structure. It was doomed to fail by its design.
August 24, 20223 yr 30 minutes ago, TEW said: No, the problem with SS is that it is a Ponzi scheme. It was an attempt to get something for nothing — retirement benefits during the Great Depression for people who had not paid into the system. Their payments were subsidized by workers, who in turn were promised payments by future workers, projected out to infinity. It really doesn’t matter if it was only supposed to be a supplemental program. The problem is in its financial structure. It was doomed to fail by its design. I don’t think you know what a Ponzi scheme is
August 24, 20223 yr 5 hours ago, Dave Moss said: I don’t think you know what a Ponzi scheme is I was gonna say, except it's not a Ponzi scheme...because there's no "scheme." No one ever said you'll get back what you pay into it, and no one expects that, unless they're stupid.
August 24, 20223 yr 23 minutes ago, Dave Moss said: I don’t think you know what a Ponzi scheme is It’s the literal definition of a Ponzi scheme. 21 minutes ago, EaglesRocker97 said: I was gonna say, except it's not a Ponzi scheme...because there's no "scheme." No one ever said you'll get back what you pay into it, and no expects that, unless they're stupid. This has already been gone over with you specifically, ER. Suffice it to say you were wrong then and wrong again now. But it’s cute that you’re shown you are wrong and then try to rehash the same failed argument a couple months later as if no one remembers.
August 25, 20223 yr 1 hour ago, TEW said: It’s the literal definition of a Ponzi scheme. This has already been gone over with you specifically, ER. Suffice it to say you were wrong then and wrong again now. But it’s cute that you’re shown you are wrong and then try to rehash the same failed argument a couple months later as if no one remembers. A Ponzi scheme involves deception. Somebody tells you that if you invest money with them you’ll get amazing returns. Then they use other people’s money to pay you even though they didn’t have amazing returns. Social security is money taken out of your paycheck to give to old people. It might be inefficient, but it’s not deception.
August 25, 20223 yr 3 hours ago, ToastJenkins said: You should. Bc all the objections and criticism voiced in opposition to starting it have come to pass. it cant be killed instantly, but we need a plan to unwind it. But maybe quick kill is the only way I just don’t see it being an issue that catches on with voters. That said, I’m hardly the best person to judge what catches on with voters. I never thought Trump would get past New Hampshire.
August 25, 20223 yr 2 hours ago, iladelphxx said: This is a valid criticism. This was an opportunity for disruption and reform
August 25, 20223 yr 2 hours ago, iladelphxx said: And of course Biden knows that. This just further strengthens the argument this was simply a political ploy to buy votes while John Q Taxpayer foots the bill. Biden and Dems will be crucified on this in November and justifiably so.
August 25, 20223 yr 1 minute ago, Blazehound said: And of course Biden knows that. This just further strengthens the argument this was simply a political ploy to buy votes while John Q Taxpayer foots the bill. Biden and Dems will be crucified on this in November and justifiably so. No they won’t. They’ll gain dumb, irresponsible voters, which is the Democratic base anyway.
August 25, 20223 yr 2 minutes ago, Blazehound said: And of course Biden knows that. This just further strengthens the argument this was simply a political ploy to buy votes while John Q Taxpayer foots the bill. Biden and Dems will be crucified on this in November and justifiably so. I don’t see how the republicans take back the senate with the slate of loons they have. They also have energized the dems with their bold "no abortion for anyone ever” platform. I doubt this moves the needle much.
August 25, 20223 yr 9 minutes ago, Gannan said: I just don’t see it being an issue that catches on with voters. That said, I’m hardly the best person to judge what catches on with voters. I never thought Trump would get past New Hampshire. It won’t be an issue until it is. And when it is an issue, it will be too late to deal with in a way that minimizes the carnage. We’re just going to print the entitlement money. All ~$100 trillion of it. There is no other real option. We can’t make good on the programs and we can’t get rid of them.
August 25, 20223 yr 24 minutes ago, Blazehound said: And of course Biden knows that. This just further strengthens the argument this was simply a political ploy to buy votes while John Q Taxpayer foots the bill. Biden and Dems will be crucified on this in November and justifiably so. Highly doubt they get crucified for it. but yes its just moronic politics. It also set precedent/trend to keep going with the stupidity
August 25, 20223 yr On 8/23/2022 at 10:48 AM, Alpha_TATEr said: so its all hugs, hold hands and kisses over there is it ?
August 25, 20223 yr 3 hours ago, EaglesRocker97 said: I was gonna say, except it's not a Ponzi scheme...because there's no "scheme." No one ever said you'll get back what you pay into it, and no expects that, unless they're stupid. Its completely a ponzi scheme illegal for anyone but the govt
August 25, 20223 yr 4 hours ago, TEW said: It’s the literal definition of a Ponzi scheme. This has already been gone over with you specifically, ER. Suffice it to say you were wrong then and wrong again now. But it’s cute that you’re shown you are wrong and then try to rehash the same failed argument a couple months later as if no one remembers. Can you explain where I'm wrong? Also, I never actually denied this fact prior to this post, so I'm not sure which "denial" youre referring to, but to the point: Who, in their right mind, expects to get back what they pay in to S.S.? I'll wait...
August 25, 20223 yr 38 minutes ago, EaglesRocker97 said: Can you explain where I'm wrong? Who, in their right mind, expects to get back what they pay in to S.S.? I'll wait... People who never put into it to begin with are collecting for 30-50 years while people who work during that time are going to be left with an empty bag
August 25, 20223 yr 9 hours ago, Blazehound said: And of course Biden knows that. This just further strengthens the argument this was simply a political ploy to buy votes while John Q Taxpayer foots the bill. Biden and Dems will be crucified on this in November and justifiably so. well said
August 25, 20223 yr 9 hours ago, EaglesRocker97 said: Can you explain where I'm wrong? Also, I never actually denied this fact prior to this post, so I'm not sure which "denial" youre referring to, but to the point: Who, in their right mind, expects to get back what they pay in to S.S.? I'll wait... Jsdarkstar did it just here. Thats the mobs stupidity. its a ponzi because there are no assets or investments. Its just taking inputs to pay previous inputters fake "returns”. so you need more and more suckers to keep the pyramid going or it collapses. No different than Madoffs designs
August 25, 20223 yr 12 hours ago, Dave Moss said: A Ponzi scheme involves deception. Somebody tells you that if you invest money with them you’ll get amazing returns. Then they use other people’s money to pay you even though they didn’t have amazing returns. Social security is money taken out of your paycheck to give to old people. It might be inefficient, but it’s not deception. Except not all of it is given to old people. I’ll show you: here give me some of your money and I’ll make sure your old people are taken care of
August 25, 20223 yr 10 hours ago, iladelphxx said: People who never put into it to begin with are collecting for 30-50 years while people who work during that time are going to be left with an empty bag At least when the trust fund runs out, you could still argue it can pay 70% of what was promised out of current workers paychecks, but eventually I have to imagine our kids will realize how dumb this is and then we really do get 0%
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