Current Events > When Social Security is gone what will happen?

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LastTomorrow
10/26/20 8:45:44 AM
#1:


Go back to work?

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thronedfire2
10/26/20 8:46:12 AM
#2:




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eston
10/26/20 8:46:36 AM
#3:


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monkmith
10/26/20 8:47:19 AM
#4:


civil war.

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Were_Wyrm
10/26/20 8:48:36 AM
#5:


social insecurity

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ElatedVenusaur
10/26/20 9:28:15 AM
#6:


In what sense?
If the Social Security Administration burns through its reserves, it will only be able to pay out what its getting in, leading to a dramatic reduction in benefits.
If it gets abolished, old people will have to work until they are literally unable to and then be completely(as opposed to mostly) dependent on family unless theyre rich.
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LastTomorrow
10/26/20 9:30:06 AM
#7:


ElatedVenusaur posted...
In what sense?
If the Social Security Administration burns through its reserves, it will only be able to pay out what its getting in, leading to a dramatic reduction in benefits.
If it gets abolished, old people will have to work until they are literally unable to and then be completely(as opposed to mostly) dependent on family unless theyre rich.
Trump is doing something about it or something about having more money

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bigbadharry
10/26/20 9:30:57 AM
#8:


Helter skelter
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YellowMustard69
10/26/20 9:35:07 AM
#9:


If it goes away it will be slowly phased out.

And if it goes away, it's good. If I were to take every dollar I paid into SS and instead invested it into my 401k, my retirement income would be quite a bit bigger. They could also just invest it into 401k on our behalf.

Years ago, politicians shit on the idea of investing SS privately. And people actually made the argument that it would be gambling people's retirement. Yeah, as if keeping the system as is isn't a gamble. Nobody's retirement income would be less if they invested in 401k instead of paying SS as is now. everyone's would be more.
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TheBabaYaga
10/26/20 9:36:09 AM
#10:


YellowMustard69 posted...
If it goes away it will be slowly phased out.

And if it goes away, it's good. If I were to take every dollar I paid into SS and instead invested it into my 401k, my retirement income would be quite a bit bigger. They could also just invest it into 401k on our behalf.

Years ago, politicians shit on the idea of investing SS privately. And people actually made the argument that it would be gambling people's retirement. Yeah, as if keeping the system as is isn't a gamble. Nobody's retirement income would be less if they invested in 401k instead of paying SS as is now. everyone's would be more.

why a 401k (private) and not an IRA?
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John_Galt
10/26/20 9:37:43 AM
#11:


Who cares, you have 40+ years to save up, let it fail

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YellowMustard69
10/26/20 9:54:23 AM
#12:


TheBabaYaga posted...
why a 401k (private) and not an IRA?

Whatever the thing is that you invest in mutual funds and stuff. Maybe I'm getting my terms mixed up.
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TheBabaYaga
10/26/20 9:54:42 AM
#13:


YellowMustard69 posted...
Whatever the thing is that you invest in mutual funds and stuff. Maybe I'm getting my terms mixed up.

I am probably wrong I know nothing about this
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Prismsblade
10/26/20 10:34:02 AM
#14:


Same thing as before it existed. The elderly then will either have to rely on themselves, their retirement savings and or family. For everyone else though it'll be a huge boon.

Which most people should be trying to accomplish anyways. Becuase if all you have to rely on is social security by then you're fucked regardless.

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PizzaPatty
10/26/20 10:47:57 AM
#15:


american and the views in this topic are disgusting and compassionless first we have people totally content with sacrificing the elderly to covid and people are like lets not give those same old people a little extra money to make their lives easier. The total lack of compassion is disgusting when you live pay check to pay check through no fault of your own thanks to a corrupt and evil system that keeps you poor social security is not only necessary in american is should be considered a right. The ability to dehumanize other human beings then deny them rights whether they be elderly, african american or female is just wrong and it is absurd how content people are with it.
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WingsOfGood
10/26/20 10:49:03 AM
#16:


Revolution.
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Solid Snake07
10/26/20 10:49:09 AM
#17:


Bootstaps

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SK8T3R215
10/26/20 10:49:32 AM
#18:


TheBabaYaga posted...
why a 401k (private) and not an IRA?

Because you can contribute more to a 401K then convert it to an IRA later on if you leave your job.

Also you can have both and max them both out if you have enough disposable income.

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Solid Snake07
10/26/20 10:50:08 AM
#19:


John_Galt posted...
Who cares, you have 40+ years to save up, let it fail


I care. Stop stealing my fucking money

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modena
10/26/20 10:52:00 AM
#20:


My Dad wasnt planning on retirement as soon as he got his law degree,but then he had a heart attack then pace maker...

F who quickly say "just let them starve/die".

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