03-11-2017, 10:37 AM
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Too old to care
Industry Role:
Join Date: Jun 2001
Location: On the sofa, watching TV or doing my jigsaws.
Posts: 52,943
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Quote:
Originally Posted by woj
^^^
problem is that SS/medicare/etc was supposed to be a trust fund where you put $$ in over 40 years, then when you reach old age $$ would be withdrawn... but some brilliant politician came along and figured "lets start spending this $$ now, and turn it into a ponzi scheme!"... you (or your parents) figured "brilliant idea, lets do it!", went along with the plan, enjoyed benefits of this scam for decades, and now 40 years later you are sitting here playing dumb "why are my benefits getting cut?", they are getting cut because for decades money was withdrawn from the trust fund and now there is insufficient level to let this ponzi scheme go on...
I don't blame you, I would be a bit pissed too, but lets not kid ourselves, everyone knows damn well why it's happening... it's not because some evil Republicans want to fuck you, it's because some idiot politicians decades earlier decided to spend the $$ in the trust fund...
and really, what are you complaining about? you are getting off easy, you will get back most of the $$ you put in, and maybe if you are lucky you will even come out ahead... younger generations on the other hand will almost certainly get fucked, they will get back only fraction of what they put in over the years...
"simple" would have been if this whole ss/medicare/etc bs didn't exist in the first place and instead you saved $$ into your own retirement account, you would know exactly where you stand, there would be no one to steal your funds for their own projects, there would be no cuts in benefits, etc... you would have saved up significant sums of money over your 40 year career, enabling you to have a quite comfortable retirement...
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Not just Governments are guilty of this. Private companies are just as guilty of raiding workers pension funds. However, Governments should have made pension pots both Public and Private ring fences and untouchable.
Add to it that pension funds invested in the financial markets and you have a perfect storm.
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