MADDOG'S LAIR
  • Blog
  • About
  • Contact

Dear Millennials, we wealthy Boomers have consumed all the Social Security benefits, sorry!

6/29/2016

Comments

 
Scathing New Report Shows Just How Bankrupt Social Security Really Is

Instead of participating, we invite you to work really hard, and pay lots in taxes to bail the system out!

Very Truly Yours, 

Boomers.​
​
​More below.
The Ponzi scheme is going bust, in plain sight and no one seems to care. 

Well, it's only Social Security, right? 

​Central State Pension Plan is bankrupt . . . 

Gulp! Well, it's only SS, and one private pension, right!?

Unless something changes, government pensions will shred many of the Blue Model states . . . 

Oh, come on!

She wants to kill your 401(k)

And the progressives want to turn your 401(k) which works into Social Security which is broke, because they control it and through SS can control you. This woman is insane to believe that a functional system should be scrapped in favor of a bankrupt system.

The problem in Americans retirement savings is 1. They don't actually put money into the IRA, or 401(k), or similar accounts. 2. When they do, they have no idea what they are doing, and invest incorrectly, commonly too conservatively when young. 3. They withdraw money before retirement. 4. They believe SS payments will be essentially enough to live on. 

These problems will not be resolved by shifting money from private retirement savings to the bankrupt SS system, although it would float the bankrupt SS system for a few more years. 

The solution is to allow the Millennials to invest the entirety of their SS account into private investments, with the default being an age allocated investment account, unless the individual chose to invest otherwise. There would be no access to the money until retirement. Premature death would require the money pass to other persons but only into their SS accounts. None of this is tricky or expensive, and should be the first thing Congress does, but it will not. It wants that money, damn your retirement.
Comments
comments powered by Disqus

    Author

    Maddog

      Blog Subscription

    Subscribe to Blog

    Categories

    All
    1000-ways-to-die
    Abortion
    Amazon
    America
    Antisemitism
    Anti-semitism
    Bible
    Blogging
    Blue-model
    Book-links
    Booze
    Bus
    Cancer
    Children
    China
    China-ccp
    China-gdp
    China-ghost-cities
    China-ponzi
    Climate-change
    Coast-guardrescue-swimmer
    Cold-war
    Concealed-carry
    Constitution
    Cool-stuff
    Corruption
    Creative-destruction
    Crime
    Crisis-change
    Dead-guy-vote
    Dead-pool
    Death-of-the-pc
    Declaration-of-independence
    Deflation
    Democrat
    Demographic-decline
    Diet
    Earth-hour
    Ecommerce
    E-commerce
    Economic-change
    Economy
    Education
    End-of-history
    Energy
    Environmentalism
    Epa
    Eric-barker
    Europe
    Executive-outcomes
    F35
    Faith
    Family
    Fascists
    Financial-irresponsibility
    Financial-times
    Firearms
    First-world-problems
    Fitness
    Flight-to-security
    Food
    Fourth-turning
    Free-eye-exam
    French
    Funny
    Gdp
    Gdp-usa-vs-britain
    Gdp-usa-vs-germany
    Gdp-usa-vs-sweden
    Generational-theft
    Global-warming
    Government-incompetence
    Government-we-deserve
    Happiness
    Health
    Helicopter-parent
    Hell
    Holocene
    Honor
    Housing-affordability
    I-love-beaver
    Imf
    Immigration
    Independence-day
    Inefficiency
    Inflation
    Innovation
    Intelligence
    Intergenerational-conflict
    International-relations
    Investing
    Iran
    Iraq-war
    Islamic-reformation
    Italian-travel
    Japan
    Jodie-foster-effect
    Kayaking
    Keynesian-economist
    Kurdistan
    Law
    Leave-nato
    Leave-the-un
    Light-rail
    Maddog-story
    Marine
    Marriage
    Media
    Medical-insurance
    Medicine
    Middle-east
    Military
    Military-waste
    Money
    Monopoly
    Nanny-college
    News
    New-seasons
    Nirvana-is-another-name-for-hell
    North-korea
    Nukes
    Obama-doctrine
    Oil
    Oregon
    Organic
    Parenting
    Partition
    Pearl
    Pensions
    Peter-principle
    Police
    Politicians
    Portland
    Portlandia
    Portland-transit
    Predictions
    President-bush
    President-feckless-odither
    President-obama
    Psychology
    Race-huckster
    Rape
    Recession
    Recipe
    Replace-the-un
    Republican
    Research-studies-are-always-wrong
    Reviews
    Russia
    Salafism
    Sanctions
    Science
    Science-versus-faith
    Self-defense
    Self-drive-vehicle
    Sex
    Shale-oil
    Shia
    Sjw
    Sleeper
    Smart-growth
    Socialism
    Sovereignty
    Sport
    Sunni
    Supreme-court
    Syria
    Tax
    Technology
    Terrorism
    The-fed
    The-house-of-saud
    The-last-economic-superpower
    Therapy
    Trade
    Transit
    True-believer
    Tvfilm-review
    Un
    Union
    Urban-planning
    Urinals-of-note
    Venezuela
    Voter-fraud
    Wages
    Wahhabism
    War
    War-crimes
    Weird
    Weird-science
    Welfare
    Whole-foods
    Work



    RSS Feed

​Maddog's Lair is copyright 2016-2018 by Mark Sherman. Please feel free to quote from this site provided you link back to the original article.
Proudly powered by Weebly
  • Blog
  • About
  • Contact