Social Security to start cashing Uncle Sam's IOUs

[Happy Monkey]

Originally Posted by ZenGum

Is there much difference between this model of social security and a pyramid (ponzi) scheme? As long as the base keeps growing, no problem - growth slows, problem.

A big difference: there are only two levels, and you are guaranteed (provided you survive) a place at the "top".

There will always be people paying, so there will always be money for the people receiving. Different proportions of old to young may affect how much, but they will never run out.

[Clodfobble]

Originally Posted by Happy Monkey

there will always be money for the people receiving.

I see no practical difference between receiving a nominal sum that is a fraction of anybody's idea of living expenses, and not receiving anything. The part that makes it a ponzi scheme is the idea that everyone will receive something of value, which the government continues to insist upon.

Myself, I already made peace long ago with the idea that the program will implode before I'm old and I will receive (effectively) nothing. I choose to think of it as "welfare for old people," rather than a "system" I'm "paying in to," and that's fine.

[Happy Monkey]

Do you think that the ratio of old to young will rise indefinitely? The boomers will die eventually (If not, immortality would be a valid excuse to eliminate Social Secuity for the elderly).

And if the ratio of old to young, does rise indefinately, that means people are living longer, and the retirement age should be raised. Which brings the Social Security ratio back in balance.

I'm not sure what the difference between "welfare for old people" and a "system" I'm "paying in to" really is. It's welfare for old people who paid into the system.

[squirell nutkin]

I think it's neither. It's a piggy bank that our government has plundered for whatever purpose they want. It's more like a tax. Soon we'll be paying an "earnings surcharge" in addition to our taxes and other forms of government extortion.

[Spexxvet]

Originally Posted by Happy Monkey

Do you think that the ratio of old to young will rise indefinitely? The boomers will die eventually (If not, immortality would be a valid excuse to eliminate Social Secuity for the elderly).
...

If the boomers don't die on their own, they'll likely become hobos. Then they're just Shawnee fodder, and their numbers will quickly diminish. As an unexpected side effect, the price of dead hobos, and dead hobo meat will plunge. It's win/win/win.

[Spexxvet]

Originally Posted by squirell nutkin

I think it's neither. It's a piggy bank that our government has plundered for whatever purpose they want. It's more like a tax. Soon we'll be paying an "earnings surcharge" in addition to our taxes and other forms of government extortion.

Or we could all just support our own old folks. Let me tell you - that's really costly. Wouldn't you like your mother-in-law living with you?

[Shawnee123]

I claimed 7 hobos on my tax return this year. They're all gone now, except for The Hobo Who Wouldn't Die. Don't look at me, I have no idea what happened to them.

[skysidhe]

Originally Posted by Spexxvet

Or we could all just support our own old folks. Let me tell you - that's really costly. Wouldn't you like your mother-in-law living with you?

I've tried my mom living with me before. She really needs to go into an assisted living community.I really have been not enjoying keeping her issues organized and my own which, if I do not want to be one of those hobos,should be top priority.



When your kids get grown and you think everyone is going to be ok then your parents regress into childhood.I thought I was done with this. I am trying to keep the love but devising reasons to keep me on the line and my less than loving feelings is something I feel guilty about. Mostly when I am tired and don't want the phone to ring ONE MORE TIME.

[squirell nutkin]

Originally Posted by Shawnee123

I claimed 7 hobos on my tax return this year. They're all gone now, except for The Hobo Who Wouldn't Die. Don't look at me, I have no idea what happened to them.

They probably went to hobo camp. I wouldn't worry.

[Shawnee123]

"One time, at hobo camp..."

[Pie]

Well, I have no kids, no one who might give a shit about me when I hit 80... I guess I'll have to hope for some sort of Logan's Run dystopia to put me out of my misery.

Shaw, if I claim to be a hobo, will you do the honors?

[Shawnee123]

I would, but I'll be long gone before that, probably.

Unless of course the aliens let me stay and grant me eternal life.

[Spexxvet]

Originally Posted by Pie

Well, I have no kids, no one who might give a shit about me when I hit 80... I guess I'll have to hope for some sort of Logan's Run dystopia to put me out of my misery.

Shaw, if I claim to be a hobo, will you do the honors?

Soilent Green Pie!

[Clodfobble]

Originally Posted by Happy Monkey

I'm not sure what the difference between "welfare for old people" and a "system" I'm "paying in to" really is. It's welfare for old people who paid into the system.

The difference is, I don't receive welfare now, and I'm planning ahead and saving for retirement so that I hopefully won't need to rely on welfare when I'm old either. The implication of the "system you paid into" was that you would be well taken care of, moreso than just barely keeping you above the poverty line. It doesn't currently do that, and will do so even less in the coming decades.

[Happy Monkey]

Originally Posted by Clodfobble

The difference is, I don't receive welfare now, and I'm planning ahead and saving for retirement so that I hopefully won't need to rely on welfare when I'm old either.

Hopefully.