Social Security And Medicare Insolvency Questions…

[Ingomike]

If SS and Mc are going insolvent can someone explain how that is since we all know there is no “lockbox” as Al Gore described it with cash?

Social Security and Medicare are going insolvent. Neither Biden nor Trump has a plan for it.

Social Security is expected to hit insolvency in 2035, while a portion of Medicare will be insolvent by 2036. What are we doing to do about it?

reason.com

 

[BugI02]

Insolvent means unable to pay all debts owed, it's Chapter 11 not Chapter 7

 

[Shadow01]

You’ll take 35 cents on the dollar during your retirement years and like it…

 

[Mgderf]

"Deficit spending is immoral " - Dwight D Eisenhower

 

[BigRed]

If SS and Mc are going insolvent can someone explain how that is since we all know there is no “lockbox” as Al Gore described it with cash?

Social Security and Medicare are going insolvent. Neither Biden nor Trump has a plan for it.

Social Security is expected to hit insolvency in 2035, while a portion of Medicare will be insolvent by 2036. What are we doing to do about it?

reason.com

.gov is a liar and a robber.

Jefferson is rolling in his grave, pounding the lid, and screaming, "What are you waiting for?"

 

[Route 45]

Insolvency? That's dumb. How can we be insolvent if we can just print more money?

Just go to Staples and get more ink for the printers!

Insolvency. Pffft.

 

[Ziggidy]

Stop stealing our money. Stop giving it to those who move out the country, you must be a resident to collect. Stop paying illegals more than those on SSI. Yada yada yada......we would have allot of money if they stopped stealing.

 

[Leadeye]

We have been coming to this point for some time, and you have to consider how much of the medical/industrial complex relies on medicare. Nationalizing private retirement and/or making SS means tested will also generate a serious stir.

 

[BehindBlueI's]

Stop giving it to those who move out the country, you must be a resident to collect.

People who move out of the country and retain their citizenship still have to pay US taxes. Why would you hold someone hostage to stay in the US to get money back out of the system they paid in to their entire working life? Screwing over expats wouldn't make a drop of difference anyway.

 

[Ziggidy]

People who move out of the country and retain their citizenship still have to pay US taxes. Why would you hold someone hostage to stay in the US to get money back out of the system they paid in to their entire working life? Screwing over expats wouldn't make a drop of difference anyway.

Hostage? Screwing over? Not sure about that. I understand that it doesn't amount to much, but when we're looking for ways to save, I feel fine requiring people to live here to get our money, BTW, not all retain their citizenship and many will carry a dual citizenship. The SSI and the medicare benefits would surely save a little but let's not forget spending that money here is important also.

I guess my thinking was influenced by many legal immigrants I worked with throughout my career in healthcare. I would listen to the plans from many to move back to their home land and live like kings and queens with our money, along with the plans to come back to the USA yearly just to use their medicare. Yes, they would use those words, "kings and queens on our dollars".

Maybe I am just too patriotic for my own good.

 

[Destro]

Let people on it now keep it and Medicare, keep SSI, and wind the rest down. Make the cutoff for new "retirees" 55? 60?

Anyone under 60 has to figure something else out.

 

[Ingomike]

Let people on it now keep it and Medicare, keep SSI, and wind the rest down. Make the cutoff for new "retirees" 55? 60?

Anyone under 60 has to figure something else out.

And the counter to that is many of those that you suggested “figure something else out“ likely paid in $200,000-$400,000 over their work years. But yep, go pound sand…

 

[Creedmoor]

Stop stealing our money. Stop giving it to those who move out the country, you must be a resident to collect. Stop paying illegals more than those on SSI. Yada yada yada......we would have allot of money if they stopped stealing.

I paid SS for 52 years, should I loose my checks if I more to Costa Rico?

 

[GodFearinGunTotin]

Ain’t it funny the things that government does that will run out of money and the things that won’t?

 

[Indyhd]

Well SSI, which I filed for last night, is taken from your check until you make $129k. So those making $50 million a year playing football are literally paying the same amount as someone making $130,000.

Why is there a cap?
Bill Gates, Elon Musk, Jeff Bezos, Patrick Mahomes, Dak Prescott all pay the same as I do.

The $129,000 was the number last time I checked.

How come foreign aid never runs out of money ?

 

[Creedmoor]

Hostage? Screwing over? Not sure about that. I understand that it doesn't amount to much, but when we're looking for ways to save, I feel fine requiring people to live here to get our money, BTW, not all retain their citizenship and many will carry a dual citizenship. The SSI and the medicare benefits would surely save a little but let's not forget spending that money here is important also.

I guess my thinking was influenced by many legal immigrants I worked with throughout my career in healthcare. I would listen to the plans from many to move back to their home land and live like kings and queens with our money, along with the plans to come back to the USA yearly just to use their medicare. Yes, they would use those words, "kings and queens on our dollars".

Maybe I am just too patriotic for my own good.

There are some places you can move to that its not a problem to keep getting you SS check when you retire. Other places you have to return to the US I though every 6 months. Its on the SS website.

I'm a born here citizen, Paid into it for 52 years.
I should receive my SS no matter where I'm living. My 401, pension, annuity and savings don't care where I live, why should SS care?

 

[Shadow01]

SSI was designed as a supplement for retirement, period. Get back to that. No SSI for children. No DI either. I still believe the litmus test for considering handouts is to ask, is this something as a government we will force family to do? If your answer is no, then the answer to making taxpayers pay for it is no.

 

[wtburnette]

And the counter to that is many of those that you suggested “figure something else out“ likely paid in $200,000-$400,000 over their work years. But yep, go pound sand…

Exactly. I'm 57 and have paid into it for almost 40 years, so no thanks to the just go pound sand argument...

 

[Ingomike]

Exactly. I'm 57 and have paid into it for almost 40 years, so no thanks to the just go pound sand argument...

I vote we shut it down and return all money paid in to those that paid it plus 10% interest on it. (The same interest the IRS charges BTW.). That would probably be over a million to you.

 

[tsm]

I vote we shut it down and return all money paid in to those that paid it plus 10% interest on it. (The same interest the IRS charges BTW.). That would probably be over a million to you.

That’s just going to spend even more money, particularly since you’re adding a very high interest rate during decades when rates were very low. Plus, you can’t shut it down unless you plan to stiff everyone who’s receiving benefits today since today’s payments depend on today’s payroll contributions. Guess how quickly that plan gets rescinded when tens of millions of recipients contact their representatives! You’ll need a more fair approach and likely one that is implemented gradually. Try again.