Tag: politicians

RANT! What do we do with Social Security – 3 of 3

RANT! What do we do with Social Security – 3 of 3

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For the last 2 posts, I have explained that social security is in real trouble and should be euthanized. Now I will explain how to do it in the most fair and compassionate way possible.

Our current generation of retirees (and soon-to-be retirees) needs to be protected in this whole process. Therefore my plan doesn’t require them to make any sacrifices. They had a contract with the US government and we need to keep that contract. So the first step of the process is that anyone 58 and over receives all of the benefits that they are currently supposed to receive.

The second step of the process is that since everyone that is 57 today has ten years to prepare for the change, they will receive 10% less than what they were supposed to receive as of today. They need to start saving to prepare for that day and stop looking to the government for a complete handout that is not going to happen. Besides, 10% is not that big of a sacrifice.

The third step is to reduce the gift each year by 2% times each additional year under 57. So, as I said above, 57 year old people are eligible in 2017 and they receive 10% less. Then everyone that will be 67 in 2018 will receive 12% less than today’s standard. 2019 retirees will receive 14%, 2020 retirees will receive 16% less, and so on.

This means that by 2062, Social Security will be gone. Good riddance. RIP! FDR should be proud, he created a system that took almost a century and a half to kill. Think about that – how many institutions today were started at the time of the US Civil War?

The fourth step is probably the most important. For every dollar that American’s pay into the Social Security system until it it has enough money to survive until 2062 (by my estimate that will be until about 2025, maybe 2030), we will be able to set aside another dollar into a specially declared savings account that can’t be touched until we are 67 and the principle and the interest will never be taxed. That savings program will continue and hopefully become the new 3rd rail that politicians can’t touch.

MY PLAN WILL HAVE SOCIAL SECURITY COMPLETELY FIXED BY 2062! NO OTHER PLAN CAN SAY THAT!

BTW, I will be 100 years old when SS is dead! I hope that I can live that long and I will do a jig if I am still able. If I do live that long, you can be confident that I will adequately prepare my finances so that I am not a burden on my children or society.

I am done with this topic for now but I reserve the right to rant more on it someday.

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RANT! What do we do with Social Security – 2 of 3

RANT! What do we do with Social Security – 2 of 3

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My last post talked about our wimpy politicians and their fear of trying to fix the social security system. It won’t be easy and it is a little complicated so please read carefully:

WE NEED TO ELIMINATE SOCIAL SECURITY!

That is the hardest thing to accept. Once we accept that, the question becomes how to eliminate it.

You ask why we should eliminate social security. Did you read my last post? If no, please do so now then come back (click here). Don’t worry, I will wait.

…….. long pause

Now that you’re back, it should be obvious that the biggest curse that Franklin Roosevelt did was to setup a system that violates reason. FDR’s system only works if there are more workers today than yesterday and more workers tomorrow than today. Since that equation cannot continue indefinitely, the system was bound to fail eventually. Now is the time of failure and we need to face it.

Don’t worry, I am not going to leave you hanging. Next post, I will tell you how to make the death as gentle as possible but make no mistake – the patient is dying and there is no medicine that we can afford that will save it. The best thing to do is to make the suffering as minimal as possible.

More on this topic later!

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RANT! What do we do with Social Security? – 1 of 3

RANT! What do we do with Social Security? – 1 of 3

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Social Security is often called the 3rd rail of politics – touch it and you die. While that is probably true, we still need some politicians to step up and commit suicide because it definitely needs fixed.

First, lets discuss why it needs fixed. I am days away from my 45th birthday as I write this and I have no confidence that I will see a dime of Social Security money when I turn 67 in 22 short years. If I do see any money, then it will be a huge burden on the backs of my children and their peers!

Nearly everyone that I talk to on this subject are under the same impression – no money for us or at least not in relationship to the huge amount of money we will have put into the system.

You see, that is the real problem with the system – the money that I put in doesn’t get saved for me, it is almost immediately turned around and given back out to some current retiree (actually due to the way we spend money in the government, it may be going to pay for research on iguanas in Massachusetts). The Social Security system is not a savings account that is setting aside money for my use, but rather it is spent and the money that is supposed to go to me will come from some poor worker in 2029 and beyond.

So now that we know how it is broken, we need to discuss how to fix it. For that you will have to read my next RANT! But first, my infamous all caps yelling RANT!

HEY POLITICIANS – STAND UP AND MAKE A DIFFERENCE AND MAKE THIS A TOP PRIORITY!

More on this topic later!

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