Social Security woes

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Oct 29, 2016
684
317
113
US
#41
Anyone know what this list is?

1 Finland 99.06
2 Denmark 98.13
3 Norway 96.75
4 Belgium 96.53
5 Sweden 96.15
6 Switzerland 94.4
7 Netherlands 93.69
8 France 92.08
9 Germany 91.26
10 Japan 91.23
11 United Kingdom 90.68
12 Canada 90.3
13 South Korea 89.67
14 United States 89.11

The US is the richest country on earth, by far. And yet, the quality of life is unequivocally shocking, to say the least. Social security undoubtedly needs to exist, and for many, many of decades to come. To say that it can't be paid for, is downright false. The rich own this country. And if the citizens of this country do not stop allowing the plundering, of which both the GOP and Dem party actively support, of its riches.. to be hoarded by very few, devastation will run rampant via the underfunding of critical programs that are direly needed.

See those top 9 countries? Hmmm. Wonder why those countries are perpetually ranked as best countries to live in, for quality of life. One reason: they don't allow corporations and the rich to buy the economical policies via lobbyists and downright bribery, like the US.

The US should be ranked number one. And until people smarten up and quit being brainwashed by propaganda, this country will continue to fall down the list, just as it has since the 60's. The Golden Age of the US happened because the rich were taxed and heavily so. And when that changed, the downfall of the US began.

https://ceoworld.biz/2021/06/20/the-worlds-best-countries-for-quality-of-life-2021/
 
Mar 11, 2006
4,044
2,288
1,743
#42
Anyone know what this list is?

1 Finland 99.06
2 Denmark 98.13
3 Norway 96.75
4 Belgium 96.53
5 Sweden 96.15
6 Switzerland 94.4
7 Netherlands 93.69
8 France 92.08
9 Germany 91.26
10 Japan 91.23
11 United Kingdom 90.68
12 Canada 90.3
13 South Korea 89.67
14 United States 89.11

The US is the richest country on earth, by far. And yet, the quality of life is unequivocally shocking, to say the least. Social security undoubtedly needs to exist, and for many, many of decades to come. To say that it can't be paid for, is downright false. The rich own this country. And if the citizens of this country do not stop allowing the plundering, of which both the GOP and Dem party actively support, of its riches.. to be hoarded by very few, devastation will run rampant via the underfunding of critical programs that are direly needed.

See those top 9 countries? Hmmm. Wonder why those countries are perpetually ranked as best countries to live in, for quality of life. One reason: they don't allow corporations and the rich to buy the economical policies via lobbyists and downright bribery, like the US.

The US should be ranked number one. And until people smarten up and quit being brainwashed by propaganda, this country will continue to fall down the list, just as it has since the 60's. The Golden Age of the US happened because the rich were taxed and heavily so. And when that changed, the downfall of the US began.

https://ceoworld.biz/2021/06/20/the-worlds-best-countries-for-quality-of-life-2021/
Are you saying the rich are not taxed heavily in the US? What stat exactly are you using to base that on? If you are trying to use the above table to promote taxing the rich more, I don’t believe the facts support that hypothesis.

Look at the countries you have in the top ten. The US has a more progressive tax system than most all those countries (ie in the US taxes fall more on the wealthy). The difference is the European countries don’t us progressive tax systems. What they do is have broad-based taxes like the value-added tax and fairly level income taxes, …. this, of course, means heavier taxing on lower and middle incomes.
 
Feb 11, 2007
4,824
2,087
1,743
Oklahoma City
#43
We are always tempted to blame others (me incuded) for our problems. But its a failed strategy.
We all have free will and have control over out own decisions but we can't control the decisions of others.
As Pogo said: "I have found the enemy and it is us"...or more specifically me.
 
Oct 30, 2007
4,967
4,009
1,743
#44
Anyone know what this list is?

1 Finland 99.06
2 Denmark 98.13
3 Norway 96.75
4 Belgium 96.53
5 Sweden 96.15
6 Switzerland 94.4
7 Netherlands 93.69
8 France 92.08
9 Germany 91.26
10 Japan 91.23
11 United Kingdom 90.68
12 Canada 90.3
13 South Korea 89.67
14 United States 89.11

The US is the richest country on earth, by far. And yet, the quality of life is unequivocally shocking, to say the least. Social security undoubtedly needs to exist, and for many, many of decades to come. To say that it can't be paid for, is downright false. The rich own this country. And if the citizens of this country do not stop allowing the plundering, of which both the GOP and Dem party actively support, of its riches.. to be hoarded by very few, devastation will run rampant via the underfunding of critical programs that are direly needed.

See those top 9 countries? Hmmm. Wonder why those countries are perpetually ranked as best countries to live in, for quality of life. One reason: they don't allow corporations and the rich to buy the economical policies via lobbyists and downright bribery, like the US.

The US should be ranked number one. And until people smarten up and quit being brainwashed by propaganda, this country will continue to fall down the list, just as it has since the 60's. The Golden Age of the US happened because the rich were taxed and heavily so. And when that changed, the downfall of the US began.

https://ceoworld.biz/2021/06/20/the-worlds-best-countries-for-quality-of-life-2021/
https://taxfoundation.org/personal-income-tax-rates-europe/
Personal income tax rates by country:
1. Finland has a top tax rate of 51.2%. (It kicks in after 88K euros of income.)
2. Denmark has a top tax rate of 55.9%. (It kicks in after 77K euros of income.)
3. Norway has a top tax rate of 38.2%. (It kicks in after 93K euros of income.)
4. Belgium has a top tax rate of 52.9%. (It kicks in after 53K euros of income.)
5. Sweden has a top tax rate of 52.3%. (It kicks in after 50K euros of income.)

I could go on, but you get the point. The reason European countries offer their citizens more is because they tax everyone at a much higher rate. The US could offer more to their citizens as well if they started taxing the middle class at 40-50%. I'll pass on that.
 
Last edited:
Sep 12, 2008
825
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1,593
#45
"Americans, particularly younger generations, are quite jaded about whether Social Security will be around when they retire. One survey found that 47% of millennial's — defined as Americans currently between the ages of 25-40 — agreed that “I will not get a dime of the Social Security benefits I have earned.”

“Millennial's, in particular, will need Social Security because they're missing something their parents or grandparents had and that was a good, old fashioned traditional pension,” Arnone says. “They're in jobs that don't have pensions — they have 401(k)s. They're going to need Social Security more than any other generation. ... Current workers have a lot at stake, and they have to realize that.”

Don't worry young people.. we will have universal basic income by then.. meanwhile keep paying into the system...
 

Boomer.....

Territorial Marshal
Feb 15, 2007
7,557
6,260
1,743
OKC
#46
"Americans, particularly younger generations, are quite jaded about whether Social Security will be around when they retire. One survey found that 47% of millennial's — defined as Americans currently between the ages of 25-40 — agreed that “I will not get a dime of the Social Security benefits I have earned.”

“Millennial's, in particular, will need Social Security because they're missing something their parents or grandparents had and that was a good, old fashioned traditional pension,” Arnone says. “They're in jobs that don't have pensions — they have 401(k)s. They're going to need Social Security more than any other generation. ... Current workers have a lot at stake, and they have to realize that.”

Don't worry young people.. we will have universal basic income by then.. meanwhile keep paying into the system...
AKA these millennials are too worried about fighting for social injustices to find real jobs and invest in their future.
 

UrbanCowboy1

Some cowboys gots smarts real good like me.
Aug 8, 2006
3,829
1,936
1,743
Phoenix, AZ
#48
Anyone know what this list is?

1 Finland 99.06
2 Denmark 98.13
3 Norway 96.75
4 Belgium 96.53
5 Sweden 96.15
6 Switzerland 94.4
7 Netherlands 93.69
8 France 92.08
9 Germany 91.26
10 Japan 91.23
11 United Kingdom 90.68
12 Canada 90.3
13 South Korea 89.67
14 United States 89.11

The US is the richest country on earth, by far. And yet, the quality of life is unequivocally shocking, to say the least. Social security undoubtedly needs to exist, and for many, many of decades to come. To say that it can't be paid for, is downright false. The rich own this country. And if the citizens of this country do not stop allowing the plundering, of which both the GOP and Dem party actively support, of its riches.. to be hoarded by very few, devastation will run rampant via the underfunding of critical programs that are direly needed.

See those top 9 countries? Hmmm. Wonder why those countries are perpetually ranked as best countries to live in, for quality of life. One reason: they don't allow corporations and the rich to buy the economical policies via lobbyists and downright bribery, like the US.

The US should be ranked number one. And until people smarten up and quit being brainwashed by propaganda, this country will continue to fall down the list, just as it has since the 60's. The Golden Age of the US happened because the rich were taxed and heavily so. And when that changed, the downfall of the US began.

https://ceoworld.biz/2021/06/20/the-worlds-best-countries-for-quality-of-life-2021/
Define "rich". I love it when this term is bandied about without context.
 
Sep 12, 2008
825
237
1,593
#49
Yes, it is definitely millennials fault that SS has been plundered the last 30 years when the oldest of us was... 10.
I currently have 3 millennial's working for me and they are outstanding young people, very bright and hard working. All with Roth IRA's who are packing away as much as they can.
 

Boomer.....

Territorial Marshal
Feb 15, 2007
7,557
6,260
1,743
OKC
#50
I currently have 3 millennial's working for me and they are outstanding young people, very bright and hard working. All with Roth IRA's who are packing away as much as they can.
I sure hope that is the case. On the flip side, you always read about the college graduates with the liberal arts degree and $100K+ in student loan debt blaming "the man" because they can't find a 6 figure job.
 

UrbanCowboy1

Some cowboys gots smarts real good like me.
Aug 8, 2006
3,829
1,936
1,743
Phoenix, AZ
#54
I sure hope that is the case. On the flip side, you always read about the college graduates with the liberal arts degree and $100K+ in student loan debt blaming "the man" because they can't find a 6 figure job.
I know this is splitting hairs, but I see this put out there a lot about millennials and I think the boomers have us confused with Gen Z. Older millennials are starting to turn 40, lol. It made me laugh so hard last year when the news was going on and on about millennials ignoring warnings during spring break and hitting up the beaches in Florida. My friends and I were like "Bruh, do people think we're still in college? We've got kids about to enter middle school."
 

Boomer.....

Territorial Marshal
Feb 15, 2007
7,557
6,260
1,743
OKC
#55
I know this is splitting hairs, but I see this put out there a lot about millennials and I think the boomers have us confused with Gen Z. Older millennials are starting to turn 40, lol. It made me laugh so hard last year when the news was going on and on about millennials ignoring warnings during spring break and hitting up the beaches in Florida. My friends and I were like "Bruh, do people think we're still in college? We've got kids about to enter middle school."
I’m about to be 39, so technically I’m a millennial too (or at least on the border) but I don’t identify at all with them.
 

wrenhal

Federal Marshal
Aug 11, 2011
11,606
4,397
1,743
#56
I know this is splitting hairs, but I see this put out there a lot about millennials and I think the boomers have us confused with Gen Z. Older millennials are starting to turn 40, lol. It made me laugh so hard last year when the news was going on and on about millennials ignoring warnings during spring break and hitting up the beaches in Florida. My friends and I were like "Bruh, do people think we're still in college? We've got kids about to enter middle school."
I’m about to be 39, so technically I’m a millennial too (or at least on the border) but I don’t identify at all with them.
Gen X here. Ya young whippersnappers.

Sent from my Moto Z (2) using Tapatalk
 
Sep 12, 2008
825
237
1,593
#57
Yet another write-up...

https://www.yahoo.com/news/how-can-social-security-be-saved-200543826.html

The retirement age should be raised

“Raising the retirement age reduces the number of beneficiaries, thereby reducing the costs of the program. Raising the future retirement age, while not a popular proposition, encounters less political risks than reducing retirement benefits and increasing taxes.” — Joseph Chamie, The Hill

Social Security should be privatized

“Given the federal government’s track record of awful fiscal management, it also makes sense to empower individuals to control more of their retirement savings. Privatizing Social Security — or at least letting individuals opt-out of the program so they can escape the sinking ship — would be a huge win for younger workers who have time to save on their own.” — Eric Boehm, Reason

A hybrid system would bring the best of privatization and the social safety net

“Social Security as we know it needs to be abolished and replaced with a better system. There are many methods for doing so. For example, if liberals were willing to accept privatizing half of the contributions and conservatives were willing to accept using the other half as a safety net for only those retirees with the least resources, then the system could be saved and privatized.” — David John Marotta, Forbes

Democrats’ plans to massively boost spending on other programs must be scrapped

“If the so-called Democratic moderates are sincere in their concerns about the nation’s unsustainable debt, the new reports from the Social Security and Medicare trustees should convince them to change course, ditch their party’s reckless liberal agenda, and act responsibly to address another crisis that is staring us in the face.” — Philip Klein, National Review

Panic about an impending Social Security collapse is unnecessary

“Can Social Security be adjusted to continue paying full benefits to future generations? Yes, and the fixes are actually rather straightforward and manageable.” — Lawrence Eppard, Roanoke Times

Benefits for wealthy retirees should be reduced

“Over the next decade, Washington is projected to provide $1.6 trillion in Social Security benefits for upper-income seniors. Congress could save hundreds of billions of dollars by modestly paring back the initial benefit formula for future wealthy retirees. … These savings would grow rapidly in future decades as more wealthy seniors retire.” — Brian Riedl, Daily Beast

A wealth tax would fund Social Security for the long haul

“The Federal Reserve estimates that there is $130 trillion in household wealth in this country. (An astonishing $42 trillion, or about a third, is owned by the richest 1% of households.) So it wouldn’t take much of an annual wealth tax to rescue the retirement system. A 1% flat rate on absolutely everybody would do it.” — Brett Arends, Marketwatch

Whatever the solution, it needs to be enacted soon

“By the time that trust fund depletion date rolls around, the game is long over. At that point, the size of the shortfall is so large and so vast, that there really isn’t a realistic prospect of closing the shortfall.” — Charles Blahous, former Social Security public trustee, to CNBC

Debates over the solutions are irrelevant if politicians are too afraid to tackle the problem

“Without the political will to tell voters that the entitlement programs are on a failing trajectory, the details of how any president and Congress would tweak them are immaterial. … The towering issue now is whether Biden will, like presidents before him, let the nation drift closer to an insolvency crisis or, instead, will be the leader who saves these programs.” — Editorial, Chicago Tribune
 
Sep 12, 2008
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#59
Good news for those already getting social security checks will get a nice boost next year compared to previous years..

"After years of puny increases in their Social Security checks, older Americans will likely get the equivalent of a big raise next year.

The 68 million people -- including retirees, disabled people and others – who rely on the benefits are likely to receive a 6% to 6.1% cost-of-living adjustment next year because of a COVID-19-related spike in inflation, according to the Senior Citizen League."