Social Security Admin. chief actuary warns that SS payouts exceed revenue for the first time
Well, we've been warned about this for years. When will Congress finally do something about it?Social Security: The Options from AARP:
Raise the Full Retirement Age
Begin Longevity Indexing
PRO (chained consumer price index): Social Security should use the most accurate price index for the COLA to best protect benefits from being eroded by inflation
Increase the Payroll Tax Cap
Eliminate the Payroll Tax Cap
The Social Security 2100 Act by Democrat John Larson, an act that will save social security.
9 comments:
Social Security is a Ponzi scheme. That money should go back to the American people and people should be responsible enough to save for retirement. I'm tired of these people retiring, doing nothing and getting paid. Nothing but people sucking off the govt. teat.
@12:26--LOL. You are totally clueless.
THE MONEY IS GOING BACK TO THE AMERICAN PEOPLE.THE ONES THAT PAID INTO IT
The people who are socialists are the ones who refuse to work and rely on government money. I have my 401K and I'm not going to have to rely on government money when I retire. All these "conservatives" who claim to hate liberals but collect social security, visit the library and public facilities that I AM PAYING FOR! No one needs social security if they've led responsible lives. Pay down the deficit instead. It is America's money!
Well, woopie for you, at 5:38. You must be one of the elites. Are you going to give it back to the government when you retire? People need social security and what they get is based on a formula of how many years they have worked, and what they made. Most people don't make salaries that obviously you make. Congratulations for doing so well. As far as public services go, they are paid by ad-valorem and non-ad valorem taxes.
now I know who 5.38 is.we take our money and help people less fortunate gives us a good feeling which your 401 wont do
You're 401K could disappear tomorrow. Social Security is the only security that can be depended upon. That's why they call it Social Security.
I'm sorry but I just get tired of hearing about all these people living off the government's money instead of going out there and finding a job like we all did in the good old days. People are so used to getting something for nothing and social security is just one more example of that.
I'm not an elite. I am a retired 2nd grade school teacher who raised two children after their father died and I lived within my means all my life. I am proud of what I've done but am tired of hearing fake Republicans say one thing while they have they have their hand in Uncle Sam's pocket. If they need that money, GET A JOB!
I guess you're right--the "government's money?" They have robbed our trust fund for decades. It's time to stop. It consists of all the money taken from their paycheck and matched by their employer. This is an annuity for old age.
I'm happy for you. You were in a job that offered a retirement. Not all jobs do...in fact, I would guess that most don't.
If you're talking about younger people (not children) still of working age, then I totally agree with you...let (make) them work. There are a lot of volunteer jobs out there and helping could make a big difference in the lives of many people.
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