I like Bernie, but...
- Thread starter futurecurrents
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Medicare and SS are not self funding. Saying that they are is categorically untrue.
http://www.politifact.com/truth-o-m...re-and-social-security-what-you-paid-what-yo/
And the money that borrowed from the funds is not any more paying for wars than it is paying for section 8 housing and food stamps and every other redistribution program.
Seeing as how a hundred years has turned the job of the gov't upside down, from protecting its citizens to plundering its citizens, it would be really interesting to see what this country will look like in another hundred years. If there still is one.
http://www.politifact.com/truth-o-m...re-and-social-security-what-you-paid-what-yo/
And the money that borrowed from the funds is not any more paying for wars than it is paying for section 8 housing and food stamps and every other redistribution program.
Seeing as how a hundred years has turned the job of the gov't upside down, from protecting its citizens to plundering its citizens, it would be really interesting to see what this country will look like in another hundred years. If there still is one.
Another important issue is basically every person has a gift/talent from God plus a skill set trained by professional or vocational training/education, whether funded by self or public.
How the demand and supply of suitably matched jobs to be adjusted according to the dynamic change of economic conditions such as GFC sometimes/often is beyond control.
Serious sickness, family breakdown, car accident almost daily, war veteran, etc. etc.
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Workers received cars and overseas holidays: Palmer
February 4, 2016
http://www.theage.com.au/national/workers-received-cars-and-overseas-holidays-palmer-20160203-gml314
In January this year, the company sacked 237 workers, who have gone without $16 million in redundancy entitlements. The fate of the remaining 500 workers remains under a cloud.
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Climate research to go with 350 CSIRO jobs
February 4, 2016
http://www.news.com.au/national/bre...e/news-story/ccef85bb84b95aea75fdc9298dffb2c0
About 350 jobs will go from the CSIRO as the national science body shifts its focus from climate research to taking the science "off the lab bench".
Chief executive Larry Marshall, in an email to staff on Thursday seen by AAP, details the job cuts, saying the question of climate change has been proved and it is time to refocus on solutions.
"CSIRO pioneered climate research, the same way we saved the cotton and wool industries for our nation," the email says.
"But we cannot rest on our laurels as that is the path to mediocrity."
Commodities were the bedrock of the nation, Dr Marshall said.
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Good god you are naieve sometimes, i think you are a pretty smart person overall which makes me wonder where crap like this comes from. Social security is most certainly not self funding, infact it is basically the definition of a ponzi scheme, it requires more and more people to keep paying into it in order to remain solvent, why do you think countries all over Europe are taking on all these shady immigrants? The governments of all these countries have written cheques they cant possibly cash, they now need growth in order to survive, and for some reason they think importing people who will be drains on the system is going to bail them out, any elongated flat line in economic growth and the whole house of cards falls apart.
They need new people in order to attempt to keep growing, in order to pay for the cheques the government has already written.
You say its self sustaining if only government would act properly, isnt that the whole point? The government is incapable of saving for a rainy day, and every dime they get their hands on goes right out the door.
At best ppl my age can hope to get a little bit back, once the government has inflated money to the point where its almost nothing, At worst we will get nothing, How can you call social security self sustaining when it requires a bigger and bigger pool of people paying into it in order to survive? That is the very definition of a ponzi shceme.
If anyone in the private sector pulled the shit the government is doing with social security they would be in jail.
Tell me something piezoe, if you believe social security is self sustaining, do you believe it is possible for them to pay out what is owed without growth, and inflation?
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Actually, our "socialism" is DOING TOO MUCH! Social support should be "3 squares and a cot"... and if that isn't enough for you, then GET A FARKIN' JOB AND PAY FOR WHAT YOU WANT JUST LIKE EVERYBODY ELSE!!
Bernie's BS "rings a bell" with America's ne'er-do-well parasites... but catering to them (in exchange for votes for some greedy, power-hungry Lefties) will lead to the destruction of our country.
Thanks to the persistent disinformation campaign fomented by Wall Street, and repeated ad infinitum by Republican Congressmen and Senators, you are in agreement with roughly fifty percent of the population. I'd say the Wall Street campaign, has been quite a success story so far.
I don't know about any Ponzi schemes that were based on actuarial calculations. Was Madoff's???
If you want to understand how Social Security is designed to work, the Social Security Administration has reams of informational material on their website.
You asked, "if I believe social security is self sustaining, do I believe it is possible for them to pay out what is owed without growth, and inflation?"
That's a fair question and deserves a fair answer. Without growth of the contributions via interest earned, the answer is "no." Without growth in the number of people of working age relative to the number of retired, the answer is "yes." Actually the answer is "yes. of course!" (If Social Security really were a Ponzi scheme, the answer would be "no".) But the system will require higher and higher levels of contribution as the number of participants shrinks, causing the actuarial risk to be spread over fewer participants. In the limit, as the population shrinks, the contribution rate required approaches that required by a private, individual retirement plan. Can the pay out continue without inflation? Again the answer is "yes".
I can't blame you for not understanding the trade-offs associated with public and private retirement plans. After all, you're fed a steady stream of bullshit by the media and Wall Street. I think I did a fair job of explaining these trade-offs in my post. It might be worth your time to read again, carefully, what I wrote.
To understand social security and how it can possibly work without being a Ponzi scheme, you have to understand that those whose leave the system, through death or for other reasons, without drawing benefits sacrifice nearly their entire contribution. Those who die actuarially young, by leaving their residual benefits in the System, subsidize those who die actuarially old.
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Yes, all the information demonstrates that Social Security will be broke by 2032, and that SS Disability will be broke in two years.
If I ran a retirement program for my employees in the manner that Social Security is run, I Feds would immediately bring me up on charges for running a Ponzi scheme.
Please explain to us how any government pension plan or Social Security will be able to deliver on its promises in an environment where interest rates have been held to the floor for this long...Your neverending praise for ZIRP and QE has a flipside that you never mention.