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How should we resolve our entitlement programs?
Social Security is really a glorified ponzi scheme and is unsustainable. Medicare and Medicaid are well intentioned but in it's current form is also unsustainable. Without being nasty and with no finger pointing, how would you resolve those issues? Would you dissolve those programs, change those programs and how would you change them, or maintain them and raise taxes? Just want to know what ideas there are from average people without the partisan soundbites.
Thorn - Its not a lie. That money doen't go into an individual account for you like a 401 K. It gets put into a general fund that gets doled out to those that are eligible. Put it this way. If you have a 401K and you die, you can designate a beneficiary for that lump sum. Not so with social security. That said, I assume you would leave it alone and raise taxes or are you just going to be a troll?
Thorn - Its not a lie. That money doen't go into an individual account for you like a 401 K. It gets put into a general fund that gets doled out to those that are eligible. Put it this way. If you have a 401K and you die, you can designate a beneficiary for that lump sum. Not so with social security. That said, I assume you would leave it alone and raise taxes or are you just going to be a troll?
Freedom - I agree with you on a lot of what you said. If women or men want to go on the government dole, get sterilized. Also, welfare I think should only be for 12 months maximum lifetime benefit. You are correct in that SS has been raided for every pet project under the sun. However, it was designed when we didn't live as long either. It has to be reworked and can ONLY be used for SS benefits and the age limit increased.
Freedom - Sounds like you have visited the south bronx.
Tee Rex - Regardless of what anyone calls it, SS is a ponzi scheme. Pure and simple. It goes into a fund that I'm not guaranteed to have. We are paying for others on it right now. When we get to be of retirement age, we can pray that we can get it and there are no guarantees. I like the idea of a Social Security, but like it or not, at it's current rate, the fund will eventually be exhausted unless changes are made to it. Entitlements have become a bad word, but as long as it is properly funded and doesn't promote a , "What can the government do for me" mentality there isn't anything wrong with helping the elderly that have contributed to this country.
mawdeuce65 - I don't call all government programs a ponzi scheme, I just call SS a ponzi scheme. There is no money earmarked for Joe Citizen like a 401k. It is a pool of money that we pray we can see. Personally, I don't really expect to see that money and I view it as another tax. Because of that, I have made investments to prepare for my retirement and I plan to retire at an early age. (Mid 40's and I am on track to do so) That said, it's sad that a program that was well intentioned has been abused by our elected officials. What was that saying? The road to hell is paved with good intentions?
Magick - Maybe you have that new SS plan where you have an individualized account with your name on it that can only be touched by you and only you and you can give it to your beneficiaries when you pass on. I and I venture to guess everyone else here other than you is in the same boat. We pay into a system that we are not guaranteed to get. Unless it is an account with my name on it and I can tap into it and pass it on to my loved ones, it is a ponzi scheme.
8 Answers
- ?Lv 610 years agoFavorite Answer
Do you want to solve these social problems? Take social security out of the general fund, it doesn't belong there, put it back were it was in the beginning. It wouldn't be in trouble right now if the general fund hadn't raped SS of its savings. Over the next 20 years continue to go into the red to fund social security, slowly lowering the amount we barrow to pay SS checks. After 20 years make it a month to month thing, if SS taxes don't pull in enough to cover the whole check, those who are eligible would only receive partial checks. Everyone knew that SS was not sustainable, if you didn't plan ahead, not my fault. Remember the Ant and the Grasshopper? I've known SS was going to fail since I was 12 years old, and since i've gotten a full time job have put in my max into my 401. Reform other social programs into a 5 year max, and reform them into "teach an individual to fish" not a "give an individual a fish". This will be a start, but without tax reforms, subsidies ending, cuts to government agencies (Military, EPA, CIA, FBI, others i've never heard of) we will spend ourselves into oblivion anyways.
- Anonymous10 years ago
S.S. is a trust fund and anyone who tells you it is a ponzi scheme is just plain wrong . The fix is easy , remove the income caps . Loss of 15 million jobs has caused the fund to pay out more in 2010 . The first year it has ever paid out more than it took in . If you want a guaranteed scheme you'll have to go to work for the government . At least workers pay into the system unlike government workers who set aside NOTHING and we pay their full retirement . THAT is what you should stop , not a trust fund others pay into for years .
- Anonymous10 years ago
Socialist Insecurity is, as you stated, a Ponzi scheme that makes Bernie Maddoff look like a lazy piker. Since all of the funds stolen ("contributions") for this scheme are already tossed into the general fund, we know the federal government has no intention of "saving" it as anything but a revenue enhancement program. Socialist Insecurity needs to be abolished. People today have the resources available to learn how to make their own investment decisions for thier own futures. The federal government needs to be reduced to the size necessary to carry out its 18 enumerated powers and NOTHING MORE so it no longer needs to steal what Americans EARN.
Medicaid and Medicare are unconstitutional socialist medicine programs that are bankrupt and need to be abolished as well.
- RageFuryLv 510 years ago
I see only two things for SS.
Cut current Government spending across the board and eliminate our deficit. Then dock an additional 10% to for 10 years to supplement the fund.
Legalize and Tax weed and place the revenue directly in Social Security. Once we our secure in its solvency Weed revenues can be kicked to Medicare/Medicaid.
Keep Government mits permanently out of Social Security and any surpluses it has from incoming taxes. Surpluses can be invested.
Have it managed by the private sector whose pay would depend on how well it does to provide them incentive to keep it good.
Keep it audited to ensure no fowl play by a 3rd party.
Or
just abolish it and be done.
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- mawduce65Lv 610 years ago
Call government programs a ponzi scheme or whatever you want, but the reality is these programs would work if we enjoyed a true capitalist society instead of the cooperate run feudalist society we have now. Within a strong workforce, entitlement programs can fund themselves.
- Anonymous10 years ago
money collected for social security should only go to that. Stop everything except the original retirement fund that SS was supposed to be. Take all the drunks and drug addicts getting ssi and put them to sleep. Women getting free housing and food have to be sterilized, I mean complete hysterectomy so they can never breed more useless mouths and criminals. Except for defense, make the government replace all the hundreds of billions stolen from the SS fund over the years. I would build work camps in death valley and any poor person wanting 3 hots and a cot would have to go there. If they riot, we shoot them like dogs. If they rob, we execute them. Or maybe be really evil and just ship them all to DETROIT. After we build a wall around it.
Source(s): http://www.youtube.com/watch?v=g09GtnWdBjc - Tee-RexLv 610 years ago
Lets put this to rest SS.is a program that you pay into it is not an entitlement it is a service that working people have paid for in advance of their retirement. The word entitlement is double speak much as Govt. revenues is another word recently used in place of more taxes.
- Anonymous10 years ago
Nope SS is not an entitlement or a ponzi scheme, try some other lie.