Never trust a politician who promises to take money from one

[PotimusWillie]

person and give it to another.

Watch what is said. Is their point giving you something?

Many politicians have no answers for strengthening the economy, but will sell you on what they will give you.

Of course they are giving you someone else’s money.

 

[MaitlandFloridaDawg]

person and give it to another.

Watch what is said. Is their point giving you something?

Many politicians have no answers for strengthening the economy, but will sell you on what they will give you.

Of course they are giving you someone else’s money.

In my simple mind that is called stealing.

 

[MRDAWG]

"politician who promises to take money from one"​

It's Social Security. Do you want to cancel it?

 

[Spe77]

"politician who promises to take money from one"​

It's Social Security. Do you want to cancel it?

Yes. I would have earned more investing my money than I’ll get from the social security taxes I’ve paid into the system. Folks act like social security is some kind of great deal, but have no idea the opportunity cost of paying social security taxes their whole income earning years.

 

[mitchelldawg]

Yes. I would have earned more investing my money than I’ll get from the social security taxes I’ve paid into the system. Folks act like social security is some kind of great deal, but have no idea the opportunity cost of paying social security taxes their whole income earning years.

Please don't cancel! Will be glad to take it off your hands.

 

[Spe77]

Please don't cancel! Will be glad to take it off your hands.

No thanks. The government is already taking more than enough of my money and redistributing it. All I’m saying is I’d be better off today if I didn’t have social security taxes taken out of my earnings since I was 16 and been allowed to invest that money as I see fit. Social security is one of many programs that have led to the destruction of individual responsibility in this country. Carried out over several decades has led to many not understanding that it is their own responsibility to plan and invest for retirement. It planted the seed in the mindset of society at large believing somehow it’s the government’s responsibility to take care of them. The damage it’s done is immeasurable in my opinion. It was the wedge that began corrupting the role government plays in our country. It was the early beginnings of the bureaucracy. Too many see it as a great nest egg for their retirement without considering the opportunity cost for our society as a whole.

 

[mitchelldawg]

No thanks. The government is already taking more than enough of my money and redistributing it. All I’m saying is I’d be better off today if I didn’t have social security taxes taken out of my earnings since I was 16 and been allowed to invest that money as I see fit. Social security is one of many programs that have led to the destruction of individual responsibility in this country. Carried out over several decades has led to many not understanding that it is their own responsibility to plan and invest for retirement. It planted the seed in the mindset in society at large believing somehow it’s the government’s responsibility to take care of them. The damage it’s done is immeasurable in my opinion. It was the wedge that began corrupting the role government plays in our country. It was the early beginnings of the bureaucracy. Too many see it as a great nest egg for their retirement without considering the opportunity cost for our society as a whole.

I start drawing mine in 2 years.
Happy to do so.
Started paying SS in 79.

 

[Spe77]

I start drawing mine in 2 years.
Happy to do so.
Started paying SS in 79.

You continue to prove you’re a statist. You wouldn’t need to draw it if you hadn’t had it confiscated from you since 79. Unless you’re financially illiterate, you’d have a bigger nest egg today if you’d had managed it yourself. Enjoy sucking on the government teat and worshiping your government overlords.

 

[deadduckdawg]

I’d like all the liberals who are working and paying in to SS, but will never receive a dime from it, to know that I spend mine every month on fine Cognac. So, thank you. Keep voting for tax and spenders. Suckers.

if not for this wonderful safety net, I might be drinking Gallo Brandy.

 

[MonolithicDawgX]

Please don't cancel! Will be glad to take it off your hands.

Of course you would.

 

[PotimusWillie]

"politician who promises to take money from one"​

It's Social Security. Do you want to cancel it?

While I have never been enamored with Soc Sec taken by force, to answer your question, no, I would not cancel something that I paid into.

I will never see the principle and interest compounded that I have put into it. So in the simple explanation, for a working citizen who has deposited into social security, no politician is promising me something that I haven’t already invested in.

Do we need to discuss this further? I am a little confused on your level of understanding economics.

 

[mitchelldawg]

Of course you would.

😁

 

[MassachusettsDawg]

Please don't cancel! Will be glad to take it off your hands.

Very surprised to see the so-called "conservative" worship a trainwreck of a social welfare program.

 

[mitchelldawg]

Very surprised to see the so-called "conservative" worship a trainwreck of a social welfare program.

Not welfare dude. It's MY money that I paid in going on 45 years! If you don't want yours, send it my way.
SMDH

 

[MassachusettsDawg]

Not welfare dude. It's MY money that I paid in going on 45 years! If you don't want yours, send it my way.
SMDH

Or, you could keep YOUR money each year and use it how you see fit, instead of being forced to pay into it.

As others have said, anyone with half a brain could get a much better ROI in doing so.

 

[mitchelldawg]

Or, you could keep YOUR money each year and use it how you see fit, instead of being forced to pay into it.

As others have said, anyone with half a brain could get a much better ROI in doing so.

I agree, now. Not when I was 19 years old.
Not everyone is forever smart as you.
Growing up very poor, I knew very little about investing.
Hell, my girlfriend bought me my first pair of Levi jeans when I was 17.
That being said, when I got a good job with good insurance, it was like hitting the lottery.
Worked my ass off for 35 years and retired at 55.
Living the American dream, and damn sure will be taking my SS in a couple of years, and proud (and thankful),to do so.

 

[MassachusettsDawg]

I agree, now. Not when I was 19 years old.
Not everyone is forever smart as you.
Growing up very poor, I knew very little about investing.
Hell, my girlfriend bought me my first pair of Levi jeans when I was 17.
That being said, when I got a good job with good insurance, it was like hitting the lottery.
Worked my ass off for 35 years and retired at 55.
Living the American dream, and damn sure will be taking my SS in a couple of years, and proud (and thankful),to do so.

That's a great story. But it's worth noting that investing now is much, much more mainstream than it was when you were 19. And while the amount someone can invest obviously varies with their income level, the principle is there regardless. Financial literacy is getting stronger and it's great.

Between all the easy-to-use brokerage services, podcasts, YouTube video, Reddit chats, and social media influence (which is MUCH stronger than you may realize), you can see people of all economic backgrounds committing to investing. Hell, I'll even throw crypto in there.

When you got your good job with good insurance, which it sounds like happened at age 20, did you start to invest at that point? It sounds like you did, based on your early retirement.

Imagine how much more you'd have if you had been able to invest the amount you were forced to contribute to Social Security, as you saw fit.

 

[Dirty Hairy Dawg]

I agree, now. Not when I was 19 years old.
Not everyone is forever smart as you.
Growing up very poor, I knew very little about investing.
Hell, my girlfriend bought me my first pair of Levi jeans when I was 17.
That being said, when I got a good job with good insurance, it was like hitting the lottery.
Worked my ass off for 35 years and retired at 55.
Living the American dream, and damn sure will be taking my SS in a couple of years, and proud (and thankful),to do so.

Unless the government decides your pension and investments are enough and that you aren't entitled to your full share.

I'm not sure how this thread ended up at SS but the bottom line is that even though you were taxed at 15% on your first 100K or so during your career, it isn't your money. Look at it this way, if both you and a spouse worked and you die at 62, your spouse doesn't get your money AND their money, they must choose which fund they will draw from. If it we're your money...

 

[MRDAWG]

Yes. I would have earned more investing my money than I’ll get from the social security taxes I’ve paid into the system. Folks act like social security is some kind of great deal, but have no idea the opportunity cost of paying social security taxes their whole income earning years.

I felt the same way in 1977 when I took a class at Ga State that included some pension and mortality science. It took a class there on investing too. The problem with doing better on my own assumes no downturns like 2008 and 2020. I went on my own investing and did better than the S&P 500. Of course I had to keep contributing to FICA. I am glad I ave SS and my own. BOTH are worth it.