Poll of the Day > Social Security

(+) Yeah! (+)

Since SS taxes are deducted from our paychecks, I think that should be left to each person as to whether or not they wan that money invested in stocks.

You can choose that or to keep the status quo but that should be an individual decision not the government's decision,

Fuck no

what happens when market crash

Hell no.

No. People on Social Security can't afford to take that kind of risk.

GGuirao13 posted...

No. People on Social Security can't afford to take that kind of risk.

he meant the tax that gets taken from your checks, could be invested in stocks if you choose

Wouldn't that just be like having another 401k at that point? Might as well put the money in the existing 401k.

Sounds like a disaster waiting to happen

Yeah that's just a 401k

Your average person should definitely not be investing in stocks because it's just insanely hard to make money unless it just so happens to be a bull market

I don't think your average person is going to be able to tell when a company is overvalued or undervalued

The money you pay into Social Security isn't put into an account for you, it goes to pay those people who are currently retired. When it's time for you to retire, the young folks will be paying your way.

Assuming the Republicans haven't gutted it by then.
https://gamefaqs.gamespot.com/a/user_image/6/6/6/AAQwHjAAELfy.jpg

Yellow posted...

Yeah that's just a 401k

Your average person should definitely not be investing in stocks because it's just insanely hard to make money unless it just so happens to be a bull market

I don't think your average person is going to be able to tell when a company is overvalued or undervalued

I was a teenager when the stock market hit 1000 for the first time, it far outperforms SS for a return on investment.

If you'd invested the money the government took from you , you'd be far better off.
Rather than counting on living long enough just to even get back what was taken from you, let alone get ahead.

robbobmur posted...

I was a teenager when the stock market hit 1000 for the first time, it far outperforms SS for a return on investment.

If you'd invested the money the government took from you , you'd be far better off.
Rather than counting on living long enough just to even get back what was taken from you, let alone get ahead.

Share your magic stock picks

I won't invest in them, but I would hear you out

Also, let me just say I've done a lot of scraping and data analysis on internet investers... none of these fucking people make money, it's sad

The rabbit hole I've been down is deep. I could make a killer YouTube video about it probably.

captpackrat posted...

The money you pay into Social Security isn't put into an account for you, it goes to pay those people who are currently retired. When it's time for you to retire, the young folks will be paying your way.

Assuming the Republicans haven't gutted it by then.
https://gamefaqs.gamespot.com/a/user_image/6/6/6/AAQwHjAAELfy.jpg

Since Democrats have held majority of the House 6 of in the 8 decades since SS was enacted and sat in the WH for half the time, is there not some complicity in the raiding of the surplus?

robbobmur posted...

Since Democrats have held majority of the House 6 of in the 8 decades since SS was enacted and sat in the WH for half the time, is there not some complicity in the raiding of the surplus?

Yes, but it's the Republicans who want to kill Social Security so they can keep the money and never give it back. And it's the Republicans who have been responsible for most of the debt.

Yellow posted...

Share your magic stock picks

Index funds.

captpackrat posted...

The money you pay into Social Security isn't put into an account for you, it goes to pay those people who are currently retired. When it's time for you to retire, the young folks will be paying your way.

Assuming the Republicans haven't gutted it by then.
https://gamefaqs.gamespot.com/a/user_image/6/6/6/AAQwHjAAELfy.jpg

https://www.usatoday.com/story/news/factcheck/2023/02/08/fact-check-social-security-does-contribute-federal-deficit-debt/11185952002/

According to this soc sec has run a deficit since 2010.

hungrymike posted...

https://www.usatoday.com/story/news/factcheck/2023/02/08/fact-check-social-security-does-contribute-federal-deficit-debt/11185952002/

According to this soc sec has run a deficit since 2010.

That information is not quite correct. According to the SSA, there was an $11 billion surplus in 2021, and only a $56 billion deficit in 2022. As of 2022, the trust fund has $2.8 trillion.

https://www.ssa.gov/policy/trust-funds-summary.html

The trust fund is the money that the federal government has borrowed. According to current projections, the Old-Age and Survivors Insurance (OASI) fund has enough money to last until 2034, with income sufficient to cover 80% of the program cost beyond that, declining to 74% by 2096. The Disability Insurance (DI) fund has enough money to last beyond the 75 year projection period.

Keep in mind that people are only taxed on the first $147,000 of income. This is increasing to $160,200 this year, which should help extend the viability of the OASI program. If this were increased to cover the entire income, this would greatly improve the OASI fund viability.