SOCIAL SECURITY BENEFITS LOST

[TheMacDaddy]

WILL THERE BE CHANCE FOR SOCIAL SERCURITY TO BE FIXED OR WILL SOME OF US SEE THE DAYS WHERE IT NO LONGER EXISTS:

Almost everyone foresees their self retiring one day or having the opportunity to do so. The older we get the more we worry whether we have enough money stashed away or there will be government programs that will provide medical benefits, pension, and everything we need to retire. The Government has spent billions of dollars Pork bill spending, financial bailout and we wonder why the Government does not have enough money to throw into Social Security to fix it. The Government is telling us that our current retirement plan Social Security will no longer be around for the future retirees, if we don’t do something to fix the program

SHOULD WE JUST GIVE UP ON IT OR KEEP GIVING WASTED MONEY TO THE GOVERNMENT.

 

[oggism]

not exactly sure how we can stop giving money to the government its kind of automatic or am I missing something emoScratch

 

[TheMacDaddy]

Whats not to understand were talking about social security not taxes

 

[oggism]

ahh got ya, my bad I already know by the time get ready to retire there will be no such thing as Social Security so have been planning accordingly since I was about 22 (30 now) Im still young so hopefully I will be ok if not will work till I cant work anymore

 

[TheMacDaddy]

Good for you, there are many not so fortunate. Some people have worked hard their whole life and are
counting on it.

 

[TheMacDaddy]

As most of us realize, we don’t have millions of dollars waiting for us in our golden years. That is why most Americans need Social Security. It is a pension plan that helps us to have a comfortable life when we retire. Just about everyone does not want to be working until they are 90 years old, so we need help to retire at a descent age. The wealthy are use to living a luxury lifestyle, and sometimes they forget about how hard others might have it. Social Security is for the middle to lower class people to compensate after years of hard work.

 

[Sniperchoke]

Social security is a tax on citizens. Just think of the opportunities lost from paying social security taxes over the years.

 

[TheMacDaddy]

First, we need to recognize that Social Security has been around for 65 years.
“Social Security was created in 1935 to provide benefits to workers, family members, upon retirement or disability. More importantly, it was established as an insurance policy upon retirement to give people a means of survival. The only people eligible to receive Social Security benefits were tax payers.” (2005) The creation of Social Security has helped millions of Americans to live a descent life once out of work.
The Government must implement a plan to fix Social Security, or we will not have it in our future. Our government has been spending the money solely dedicated for Social Security accounts that were paid by tax payers. This has caused the Social Security system to have a lack of funds for future retirees. There are many ways to fix this, but the first thing the Government must do, is stop spending the money.s. Politicians will have to sacrifice other Government programs, so the money can be deposited into Social Security accounts.

 

[Sniperchoke]

Actually social security was started to raise money for the gov't. It was a political trick for the politicians to use so voters would think they were doing something. When SS was implimented it was intended to be a stop gap and was not to last forever. When it started you didn't become eligible for benefits until you were 75 yrs old the life expectany at that time was 67 so it was never intended to be used much. Then Gov't did what it does so well it took a gov't program and increased it to a size and scope that we can no longer afford. The opportunities lost due to this tax limits our economy in unimaginable ways. It would be best if this program ceased to exist so I and the rest of the tax payers could decide for ourselves what to do with our hard earned money.

 

[tie1on]

If it wasnt for SS, I wouldnt be getting paid right now! I started working and paying SS when I was 15 I worked and paid into the system till I became disabled at age 29. If the system is used system, and doesnt get abused by greedy politicians, it works! And yes, I pay taxes on what I get back from SS and I pay for Medicare every month. It isnt the best situation, but it does take some of the stress off of my wife who works very hard!

 

[Sniperchoke]

But you still had opportunity lost from age 15 to 29. Who knows what you could have done with that money. Saved it for a better return, invested in business, stocks, mutual funds, you could have bought longterm disability insurance for pennies on the dollar at that age.

 

[tie1on]

Sniperchoke - 1/21/2010 9:01 PM

But you still had opportunity lost from age 15 to 29. Who knows what you could have done with that money. Saved it for a better return, invested in business, stocks, mutual funds, you could have bought longterm disability insurance for pennies on the dollar at that age.

Hind sight is always 20/20! Most at that age, with no prior health condition, is going to be prepaired for a misfortunate event. You think you are invinsible until it happens to you. I had a 401k and a savings account, but that just didnt last very long. The SS doctor they sent me to declared me disabled on the first visit but it still took an attorney and two yrs of waiting to get approved! Like I said, Its not the best situation, but it has helped. Wall street isnt always fool-proof either. I have many friends and relitives,as well as myself, who have lost alot of their life savings because of the stock market. The education on retirement just isnt emphasized enough to the majority of people! We have definatly made changes on my wifes end to prepair for the future!

 

[TheMacDaddy]

You know what I hear that all the time... How much does college cost for children, cars, health care, mother or father you have to take care of??? People always say, well I'm young and save it just dosen't happen today... How much does it cost to raise child or baby???? THE WORLD IS EXPENSIVE AND KEEPS ON GETTING MORE EXPENSIVE!!!!