Is anyone looking forward to Social Security retirement in the next few years?
McCain said it was an outrage that younger workers pay into Social Security so that older workers can retire and get Social Security benefits. ---- Does he not know that that is the system: When you are younger you pay in and when you are older you retire and get the benefits... Has McCain lost his marbles?
Public Comments
- Great point. He lost his marbles many years ago...
- McCain is an idiot and a lunatic and a liar and a globalist CFR traitor, HOWEVER, social security is ALSO a complete scam, and you'll never see your money again! So the people lose, twice over. Don't worry about McCain though. Obama was already chosen to win. Enjoy your "election" LOL! :D Have a good evening!
- McCain is accepting his Social Security benefits and his military pension and his Senate pay. He knows how social security works and if he doesn't it's much scarier
- He doesn't even have any marbles
- There won't be and social security if McBush is elected - he seems to think everyone has a rich white plastic barbie doll for a wife like he does..... So NO McBush DOES NOT understand how the social security system works!
- what?
- Considering that Social Security was never intended to be used the way it is now, I'd say the whole system lost its marbles many years ago.
- It's a little further away than I would like it to be. I think McCain is referring to the current status of social security as being a Ponzi scheme. http://en.wikipedia.org/wiki/Ponzi_scheme
- No, I'm looking more forward to a premature death from type 2 diabetes, high blood pressure, throat and colon cancer...etc. from partying my middle aged @ss off since I was a teenager.
- Due to inflation over decades of time, the average retiree draws out all they paid into SS in the first two years. After that, they begin to draw out money that others have paid in. The boomer generation is so large that they will bankrupt SS unless taxes on current workers are raised. It's a broken system.
- I am looking forward to retire at Christmas time, but I am not eligible for SS. I will have teacher retirement. I liked McCain a lot more in 2000, but may still vote for him.
- Well if Obamanation is there next we'll only get change not dollars!
- In a Ponzi Scheme, somebody is stealing - Until the mid-1980's Social Security was purely a pay as you going system - what came in from one generation went out to pay for the retirement of the previous generation - nobody was stealing - But as a result of the reforms in 1983, Social Security taxes were raised by about 1/3 to build up a surplus to help pay for the retirement of the baby boom generation. - Unfortunately, the rest of the government has been borrowing and spending the surplus (every penny of which came from FICA taxes on workers wages that were earmarked for their retirement) as fast as it comes in, and the government has no plan in place to pay it back when it is needed to pay benefits - That is stealing. - The plan of the thieves is to convince the public that Social Security is broke, when it is the rest of the government that has the problem. If the CEOs of a big corporation (like Enron or Worldcom) had dipped into their employee's retirement plan this way, they would be headed to jail, but unfortunately, there is no way to lock up congress. On the plus side, if you happen to be rich, this stealing has helped get you some big tax cuts. McCain has said he is going to balance the budget by 2013. In 2012, the first baby boomers, those born in 1946, will reach their full retirement age of 66. That year the surplus being paid into the trust fund will peak at about 260 billion dollars (for a single year) - all of which will be borrowed and spent. - McCain's balanced budget figures ignore this borrowing as if it were free money that could be borrowed and never paid back.
