Should Your 401(k) Be Eliminated to Save Social Security Benefits?

Discussion in 'Wall St. News' started by ajacobson, May 12, 2024.

  1. schizo

    schizo

    Yes, in this particular case. But we're not talking about the government taking a property (or social security benefit) from a single individual or an entity as in this case. We're talking more about the entire friggin' social security program that applies to every US citizen. That would be classified as a "contractual agreement" IMO.
     
    #11     May 12, 2024
  2. No because those exact people vote for deficit spending their whole lives.



    People wanna have it both ways, they wanna run up the credit card bill their entire working lives and then pretend that they actually saved something through pure accounting fantasy.

    The best thing we could do is give people the option to contribute more to their 401k in lieu of social security.

    I don't mind disability for people who are no bs disabled, but SS in general needs to be replaced with actual separate real 401k accounts that cannot be so easily robbed.
     
    #12     May 13, 2024
  3. %%
    MAYbe it applies, maybe not.
    As you noted , new court;
    +NEVER obey an unlawful order or illegal order:D:D
    Nestor was a crooked commie if i remember right, serves him right:caution::caution:
     
    #13     May 14, 2024
  4. When enough people switch to Roth, there will be a switch to a consumption tax, which will cause people to pay more taxes on money that was supposed to be tax free. The government is always concerned with taxes and no concern with continuous massive spending that has no connection with peoples taxes so it is considered "free money".
     
    #14     May 14, 2024
    smallfil likes this.
  5. newwurldmn

    newwurldmn

    everyone votes for deficit spending. The only debate is what the spending should be on.

    Re: 401k vs SS. The problem is that you pay SS now to support the old guys today and in the future the young generation will pay SS to support you. that’s the scam.




     
    #15     May 14, 2024
  6. SunTrader

    SunTrader

    Scam or not (I say not) just let the powers that be try to take SSI benefits (not entitlements) away from anyone retired or anywhere close to it.

    And that would include D's, I's and R's. Bi-partisan outrage this country has never yet witnessed.
     
    #16     May 14, 2024
  7. Overnight

    Overnight

    SS needs to be a VOLUNTARY insurance program. And if you opt out of SS, you cannot realize SS benefits.

    To appease the pensioners...If you although contributed to Medicare separately, you get those benefits upon retiring.
     
    #17     May 14, 2024
  8. poopy

    poopy

    Social programs cannot be voluntary. if you can opt out it collapses. 2-3% of funding comes from mofos who die before cashing in with no spouse/ex. Same with universal health insurance. Those under 40 won't pay the premiums. Look at European socialism for analogs.

    Seniors cannot afford health insurance when they need it (hence Medicare) and the young don't need it when they can afford it.

    You need to stop posting so much.
     
    #18     May 14, 2024
    SunTrader and newwurldmn like this.
  9. Overnight

    Overnight

    Not sure what you mean here. A social program CAN be voluntary. A great example is the RR benefits system.

    When you hook into one of those unions, you no longer pay into the Fed SS, but rather the union's retirement SS, as it were.

    Let us take a vanilla example, on the SS side.

    If you opt-out of SS when you turn 18, then ideally you would have been socking away that money for medical needs as they arise throughout your life, into a fund that exceeds the COLA of a government-based social plan, which can NEVER keep up with inflation. When you turn 65? Then you are TSOL if you did not, unless you paid into a private health insurance plan, OF YOUR OWN CHOOSING.

    When you retire, any benefits you claim would be with the money you saved (and invested), so you pay out-of-pocket.

    ETA: "You need to stop posting so much."

    Dude...Man? I have now been posting the least frequently ever in the 10 years I have been here.

    Flom!
     
    Last edited: May 14, 2024
    #19     May 14, 2024
  10. mervyn

    mervyn

    sure, if you opt out to be a member of the society and join the clergy, preferably to vatican, you will be taking care of, with a boyfriend. alternatively you can join english church, you may have a good wife. all on the church’s dime. long live the communism.
     
    #20     May 14, 2024
    poopy likes this.