We should appropriate 75% of the wealth of every person with a net worth over like $100-MM. short of that, remove the cap on FICA.
Shitposts can tell a little truth, as a treat.
Like I’m ever getting social security
Social security insolvency is a myth perpetuated by the rich. Social security is sustainable if we just raise the cap so income over ~200k gets taxed as well. The rich want to make it seem like this isn’t an option, because it’s broadly popular and would force the politicians to do it, and that social security going bankrupt is inevitable and the people just need to accept that and move on.
Don’t accept the myth, only accept what your owed.
SS insolvency is not related to whether or not I get it. The government can just say “fuck you” and unless I’ve spent a trillion bucks a year on bombs for 40 years there’s nothing I can do.
Ah yes, antisocial insecurity
It’s funny cause all those who’ve paid in and passed away without kin and all the people working under fake ID’s alias paying in legit, yet never collecting. I bet if one does the math its an unaccounted for surplus
Could be, but there’s also population growth. It’s not really a surplus if it’s an ongoing balance between incoming and outgoing with an above zero balance that fluctuates. You don’t want it to dip below zero.
This is literally how all insurance works. Everyone pays into a pool to help the individuals that need it, knowing it could be them. Ideally, government insurance doesn’t also make a profit.
Social security isn’t a piggy bank. That’s what retirement savings are for.
The last part is exactly what they want you to think. It WAS meant to be sufficient, but that would have cost someone else, so they invented the idea of people taking care of themselves with the 401K invention. Now when your SS doesn’t mean your needs, they can point and say, well, you should have saved up better.
There used to be company pensions too, but they’ve slowly eroded away as younger people entered their jobs. My job gave me the option years ago of keeping the pension going or converting it to a secondary 401k that would earn lots of money, promise. I said hell no, give me my pension.
Social security literally just is collective retirement savings
Honest question: how is it different from de facto insurance when you don’t get to withdraw everything you put into it, or pass it down when you die? I would like to know where my understanding of it is incorrect.
Insurance pays out a flat amount once, social security pays out constantly for the rest of your life. You absolutely can pass down any of the money you get from social security. You’re not guaranteed 100% of what you put into regular retirement accounts either, if the market crashes so does everything tied to it.
I see…I was thinking in terms of health insurance where you do get “payouts” regularly. I was unaware that you can pass down social security benefits (sorry from your spouse getting more benefits).
My understanding was you can’t take it now than X amount per month, so you can’t “take it with you”. Market fluctuation aside, my retirement savings (minus taxes) can go to my children as inheritance.
Thank you for the explanation.
You cannot pass down social security benefits for continued withdrawal, you can pass down money you have received through social security if you have any saved up or invested when you die
Oh I see what you mean. Yes we agree on that. Anything already taken out you keep. But you can’t take out a lump sum of everything you had put in. So I think we understand that part the same way.
Thanks for the clarification and bearing with me.
Glad to
They do owe me social security, actually. Pay up, kier starmer
