Obama says he cannot guarantee Social Security checks will go out on August 3

[Broncojohnny]

This article details what happened through 2005. I am curious to know what has happened since with the financial disaster we have on our hands.

http://www.ncpa.org/pub/ba514

[red95gts]

Exactly. Galveston's plan is funded in advance rather than funded by current contributions. What a novel concept.

[Broncojohnny]

I think you have to actually work for Galveston City/County in order to opt out. Just residing there isn't enough, unfortunately. Same goes for Brazoria and Matagorda Counties, I believe...

Yes, correct. And last time I checked there was a website that detailed the balance in their plan. It was doing really well because it was an actual plan instead of a Ponzi scheme.

[red95gts]

I've always viewed SS in the same light as my company pension: If it's around when I retire then great. But I'm planning and saving as though it won't be.

That said, I work for a major German corporation. I have much more faith in my company pension than I do SS.

[red95gts]

Fuck yes you would. Too bad we don't live in Galveston where they can opt out.

I think you have to actually work for Galveston City/County in order to opt out. Just residing there isn't enough, unfortunately. Same goes for Brazoria and Matagorda Counties, I believe...

[Denny]

I'm not sure about Galveston, but the others are territories and not states. One is also not subjected to a Federal Income Tax in Guam or property tax. There is still the national sales tax and a 1% Guam Tax, but that's about it.

[Lason]

Fuck yes you would. Too bad we don't live in Galveston where they can opt out.

You can also opt out in DC, Guam and Puerto Rico.

Why are they legally allowed to opt out? I have never heard of that. Hell I may be planning a move

[Denny]

You can also opt out in DC, Guam and Puerto Rico.

[Broncojohnny]

I wish a opt out of SS was possible if I could redirect the money pulled my check for SS into my own personal retirement plan I'd be set by the time I retire.

Fuck yes you would. Too bad we don't live in Galveston where they can opt out.

[chevyhater01]

I'm not stupid enough to believe I will ever get a dime from Social Security, I wrote that shit off as a loss a long time ago. I have said it a hundred times, I would gladly withdraw from the program today and they can keep whatever I have paid in, that would be a fantastic deal for me.

I wish a opt out of SS was possible if I could redirect the money pulled my check for SS into my own personal retirement plan I'd be set by the time I retire.

[Broncojohnny]

What sucks is that if they stop paying out SS, they'd still demand it deducted from payrolls... "just in case they ever bring it back." LOL

Of course, it is spent just like every other dollar you give these idiots.

[Broncojohnny]

I agree with you there. I dont believe in being forced to do anything. But these people paid in and were told they would be seeing this money when they retired. Would it be ok if you employer came out and pulled the rug out from under you right after you started collecting any kind of pension?

Thats where I have my problem, telling people something their whole lives only to change it after they have no control of the situation.

What they were told is irrelevant. Employers go broke and pension plans dry up all the time. That is life. Part of my point is that it wouldn't "be ok" it would just be part of life. That is, shit happens. But when a private pension dries up, you can't legislate more money into it. Unless the government takes it over but that is another discussion.

Al, even you see this as a contradiction. You wont write in and try to get it changed but they should have?? You said yourself it doesnt work so how could they have done it?

I'm not depending on it as my sole source of retirement. If I was then the burden would be on me to make change. Hell, I don't care to change it because I hope the program goes bankrupt in the next ten seconds. The sooner it does, the sooner we will have a real change to the system where the government can't steal the surplus from the fund.

[ceyko]

What sucks is that if they stop paying out SS, they'd still demand it deducted from payrolls... "just in case they ever bring it back." LOL

Depressing but true

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[Denny]

This is not really how I think. Do they deserve to be in that situation? No. Is it my problem they failed to plan? No.

I just can't get over the fact that I am the guy who is the farthest away from this problem yet I am the one who is supposed to feel guilty and then gladly pay for it all.

What sucks is that if they stop paying out SS, they'd still demand it deducted from payrolls... "just in case they ever bring it back." LOL

[Lason]

Even FDR didn't intend for SS to be the sole form of retirement income, just a supplement. Any body that ever relied on SS to be their only means of retirement income deserves to be put in government housing and eat the hockey puck meat substitutes.

No one ever said sole but its still "their money" that they paid in.

You are correct, when it comes to politics and "social" causes where the government takes money from me forcefully, I don't care. I don't give a god damn about anyone but myself and my family. Why do people view the government stealing money by force to be on the same level as charity? If I want to be charitable, that should be my choice. There is nothing noble about taking money from someone in a supposedly free society, no matter the cause.

I agree with you there. I dont believe in being forced to do anything. But these people paid in and were told they would be seeing this money when they retired. Would it be ok if you employer came out and pulled the rug out from under you right after you started collecting any kind of pension?

Thats where I have my problem, telling people something their whole lives only to change it after they have no control of the situation.

I can email and write people in Washington, sure. Do I? Hell no. I'm not stupid enough to believe I will ever get a dime from Social Security, I wrote that shit off as a loss a long time ago. I have said it a hundred times, I would gladly withdraw from the program today and they can keep whatever I have paid in, that would be a fantastic deal for me.

Should the people who depend on social security today have been writing their congressman forty years ago? It sounds like they should have been.

Al, even you see this as a contradiction. You wont write in and try to get it changed but they should have?? You said yourself it doesnt work so how could they have done it?