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View Diary: Short and Succinct on MY Social Security (223 comments)

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  •  not sure what (1+ / 0-)
    Recommended by:
    worldlotus

    one thing has to do with the other.

    I am turning 30 this year and have resigned myself to the FACT that SS will not be around when i retire anyways.  I'm having around 7k confiscated from my earnings every year (not to mention the 7k my employer is paying on top of that), for an "insurance program" that is insolvent.  How fair is that?  I'm pretty sure I can do better things with that 14k than our inept govt

    Its called being responsible and planning for myself and my family.  Shit may happen, but I know relying on the govt is a pipedream, so that's the last thing I'm planning on if a rainy day comes.  

    Token conservative who agrees with KOS, http://www.dailykos.com/storyonly/2007/1/31/11112/2465

    by dookphan on Sat Jul 23, 2011 at 06:16:27 PM PDT

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    •  Why would you be (14+ / 0-)

      under the assumption that SS won't be around when you retire? The absolute worst-case projections (see the annual SS trustees report or any think-tank analysis thereof) show it still able to pay out at least 70% of promised benefits at its nadir, and then returning to solvency when the baby boomers have passed on. And, even at 70%, the initial benefit you'll receive at retirement will be higher (even adjusted for inflation) than what my granddad currently receives. This seemingly implausible factoid stems from the fact that initial benefits are pegged to wages, rather than inflation -- and wages rise faster (on average, over the long term) than prices.

      So really, it will be there for you, unless your side of the aisle is successful at phasing it out. As for the "bad investment" point, that's pretty much an irreducible matter of opinion. For example, I don't mind the lesser return because I know my taxes pay for current recipients -- not just grandpa, but also survivors and the disabled.

      Families is where a nation finds hope, where wings take dream.

      by cardinal on Sat Jul 23, 2011 at 06:30:32 PM PDT

      [ Parent ]

    •  I've read many blog replys on many sites (14+ / 0-)

      written by people saying that they used to earn 6 & 7 figure incomes, but unfortunate consequences tripped up their golden path and now, they have nothing.

      Also, I have personally witnessed many friends lose everything, mostly to health issues, some to just bad luck during my many years on this earth.

      Careful what you wish for is my reply to your young outlook.

      "Lets show the rascals what Citizens United really means."

      by smiley7 on Sat Jul 23, 2011 at 06:33:05 PM PDT

      [ Parent ]

    •  Oh dookphan, you're so naive. (17+ / 0-)

      My husband is a financial planner and let me assure you, shit does happen.  As in...losing a job, getting cancer, a child getting in legal trouble, home values going down, stock markets crashing.  Your attitude is selfish, my friend.  Is it possible that years of repeating to twenty and thirty somethings that they'll never get their social security is weakening support for the system?  Good luck out there without it when you get to your 70s.  And without it, you'll need to build an in-law addition to your house.  Which you can move into as well later down the road.  Your daughter in law will love that!

      Got Social Security? Thank a Democrat!

      by Fury on Sat Jul 23, 2011 at 06:38:28 PM PDT

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    •  You're a 30 year old high income earner (9+ / 0-)

      whining about paying into SS?  I remember my son doing the same at your age but now that he's turned 50 his thinking has changed a bit.  

      Anyone who thinks SS should be phased out(responsibly - you mean privitized?)  sounds like a Bushie.  Whatever brought you to DK?

    •  You are paying taxes (1+ / 0-)
      Recommended by:
      miguelmas1

      Which is what you must do when you benefit from living in a free and stable and sane society with all the protections and safety that come with that citizenship.  How can you not have sympathy for the suffering of your fellow man?  There is a deficiency somewhere and I hesitate to call it a lack of soul or humanity but it sure sounds pathological and it sure is ugly.

      "around 7k confiscated..."  is an astounding statement.  The No-Tax Know-Nothings haven't a clue about the meaning of society and civilization and the common good and the general welfare.  It seems they got to you and you bought it hook, line and sinker.

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