On Friday, October 20, 2017 at 5:06:26 PM UTC-7, AMuzi wrote:

You missed the point of the link -- which is at the end. Current benefits are being paid by current employees. When you paid into the system, you were paying for your parents. Here is some more from the ABA: https://www..americanbar.org/newslet...ex/kaplan.html You are stuck in Myth No. 1 -- that there is a magical savings account out of which you are receiving benefits. Sorry, man, but I'm paying your benefits.

-- Jay Beattie.


+1

Both Social Security and Medicare were arithmetically
impossible as founded. It got worse.

Then successive Congresses increased and expanded payouts
faster than they increased inputs, all the while using phony
language ( 'trust funds' or in one egregious example 'lock
box') to describe 'spending it as fast as the monies accrued'.

You don't get to twenty trillion in debt with just one
error, one program, one lapse.

Amazingly, some "socialist" countries have done it right with at least some pension funds. https://en.wikipedia.org/wiki/Govern...Fund_of_Norway Could you imagine if the SS Trust Fund has bought Amazon or Microsoft? With our luck, the whole fund would have gone into pets.com or Enron.

-- Jay Beattie.