Campaign Against Social Security based on Deliberate Deception

[GoodWitch58]

Commentary: Campaign to slash Social Security benefits is based on deliberate deception | McClatchy

The enemies of Social Security have pulled off one of the greatest public relations scams in U.S. history.

What makes this subterfuge unique is that it is all based on verbal and accounting trickery.

For example, it is common to combine Social Security and Medicare spending and say that their costs will become unsustainable. The trick here is that it is Medicare, not Social Security, that leads to the explosion in public spending.


Read more: http://www.mcclatchydc.com/2010/12/...-to.html#storylink=omni_popular#ixzz17FSd9kft

another example of why people need to research issues and not believe everything we hear...as Spartan 1 discovered in the post about the Dream Act.

 

[beachFool]

Commentary: Campaign to slash Social Security benefits is based on deliberate deception | McClatchy

another example of why people need to research issues and not believe everything we hear...as Spartan 1 discovered in the post about the Dream Act.

Social Security is an example of a government program that works well.

Privitization would be a blunder of epic proportions.

However, assuming my wife OR I live to be 83/82 our benefit will be sliced 25%.

To me that's a big deal even if she's the only one around.

Either taxes go up or benefits are reduced-take your pick.

The writer does neither.

Choosing the Nation's Fiscal Future

Here are some solutions. Take your pick.

 

[TreeFrog]

Privitisation of SS is another case of big money with vested interests selling something to an unwitting public under false pretenses.

 

[30ashopper]

Privitisation of SS is another case of big money with vested interests selling something to an unwitting public under false pretenses.

They wouldn't be selling it me under false pretenses. I would prefer control over my own retirement savings, including social security. As an american citizen, I feel I should have the right to make that choice. Further more, what gives the government the right to confiscate retirement savings out of my paycheck with no guarantee I'll get it back when I retire?

 

[scooterbug44]

They wouldn't be selling it me under false pretenses. I would prefer control over my own retirement savings, including social security. As an american citizen, I feel I should have the right to make that choice. Further more, what gives the government the right to confiscate retirement savings out of my paycheck with no guarantee I'll get it back when I retire?

You do have control over your own retirement savings - Social Security is just your safety net, NOT your primary savings plan.

ANd the plans I have seen so far are just proposing changes to people who are decades from retirement age.

 

[30ashopper]

You do have control over your own retirement savings - Social Security is just your safety net, NOT your primary savings plan.

ANd the plans I have seen so far are just proposing changes to people who are decades from retirement age.

12.4% of my take home pay across my entire lifetime is a "safety net"? I'm only allowed to contribute up to $16,500 annually to my 401K. If I make 106K a year I'll contribute $13,144 to social security. That's not a safety net, it's a major component of my retirement plan.

 

[30ashopper]

It's my money, if I want control over it, I should be given control. Period.

 

[scooterbug44]

Social Security is a safety net - for disability, death, and retirement.

Guarantee that you (and your family) will never need it for any reason and I would support you wanting to opt out.

But since you can't guarantee that, I won't.

And your IRA is not the only way to save for retirement - that's just the one that gives you the most tax advantages.

 

[beachFool]

12.4% of my take home pay across my entire lifetime is a "safety net"? I'm only allowed to contribute up to $16,500 annually to my 401K. If I make 106K a year I'll contribute $13,144 to social security. That's not a safety net, it's a major component of my retirement plan.

Wrong again.

It's 6.2% of your GROSS pay.

The other 6.2% of the GROSS paid by the employer and if you are the boss then it is a business expense.

 

[30ashopper]

Social Security is a safety net - for disability, death, and retirement.

Guarantee that you (and your family) will never need it for any reason and I would support you wanting to opt out.

But since you can't guarantee that, I won't.

And your IRA is not the only way to save for retirement - that's just the one that gives you the most tax advantages.

Read the front page of that little pamphlet they send you each year. It is a "compact between generations". There is no guarantee.

But you changed the subject, I am arguing that 12.4% (8.8% if you want to exclude the extremely expensive disability insurance portion) is a substantial portion of our retirement investment. The idea that we have have no control over how that money is saved and invested is ridiculous!