Social Security: a positive note for Gen X/Y

[youbet]

Originally Posted by Rustic23

Congress closed the loophole that allows local governments to opt out of SS

DW works for a gov agency (school dist) today where she does not contribute to SS.

Perhaps the closing of the loophole you're refering to means that governments who aren't already opt'd out can't do so now?

[ziggy29]

Originally Posted by youbet

DW works for a gov agency (school dist) today where she does not contribute to SS.

Perhaps the closing of the loophole you're refering to means that governments who aren't already opt'd out can't do so now?

Yes, that's correct. When the opt-out provision was closed, those agencies which already opted out were grandfathered and allowed to continue to opt out. But no new additional entities could opt out.

[jnojr]

Originally Posted by chinaco

In my view SS is a necessity. Fortunately, it prepares for those who otherwise would not have anything. Even though it may be their fault for not preparing...

Before Socialist inSecurity, everyone knew they had to save and prepare for their own retirements. After, we have millions and millions of people who choose not to save... why should they, when Big Brother is going to be there to catch them and care for them? Same with welfare... it started as an idea of temporary assistance to people who were in between jobs, and today is a multigenerational way of life for millions.

Socialism is a complete, total, and abject failure. It's a parasite that is eating more and more of the host it lives on, and will continue to do so until that host dies. I can only hope that when the inevitable does happen, it's A) when I'm young enough to fight my way through, B) after I'm gone, and C) that the lessons learned will carry on into the future, so that nobody else is ever stupid enough to believe in that nonsensical claptrap.

[armor99]

Originally Posted by jnojr

Before Socialist inSecurity, everyone knew they had to save and prepare for their own retirements. After, we have millions and millions of people who choose not to save... why should they, when Big Brother is going to be there to catch them and care for them? Same with welfare... it started as an idea of temporary assistance to people who were in between jobs, and today is a multigenerational way of life for millions.

Socialism is a complete, total, and abject failure. It's a parasite that is eating more and more of the host it lives on, and will continue to do so until that host dies. I can only hope that when the inevitable does happen, it's A) when I'm young enough to fight my way through, B) after I'm gone, and C) that the lessons learned will carry on into the future, so that nobody else is ever stupid enough to believe in that nonsensical claptrap.

Truer words have never been spoken.... your post made my day! jnojr for president '08!!!!

[igsoy]

Originally Posted by jnojr

Socialism is a complete, total, and abject failure. It's a parasite that is eating more and more of the host it lives on, and will continue to do so until that host dies. I can only hope that when the inevitable does happen, it's A) when I'm young enough to fight my way through, B) after I'm gone, and C) that the lessons learned will carry on into the future, so that nobody else is ever stupid enough to believe in that nonsensical claptrap.

someone should tell those unlucky Swedes, Danes, and Norwegians to quit it with all the happiness, already, and realize that they are really abject failures...

[Lusitan]

Well, I didn't want to start another debate about SS, but I guess it is (understandably) inevitable given the problems with the current system. In any case, my main point is that us younger workers won't receive full benefits from SS, but at least many of us are receiving one benefit already: the "life insurance" benefit. That's no small thing.

And of course, it's a benefit that we all hope we won't ever need to use, but having there as part of the plan to care for your loved ones is still a benefit, even if you never receive a penny.