Something I've always wondered

[beowulf]

Quote:

Originally Posted by bmcgonig I meant only SS at 70. Medicare at normal age.

Never mind 😁.

[OldShooter]

Quote:

Originally Posted by pb4uski So says the guy who is big-time into government bonds (TIPS).... so a government bond is a totally suitable investment for you but a "political charade" in the case of the SS Trust Fund. Poppycock. ...

ROFL. Pray tell, do you have any strong feelings on this subject?

I am pretty sure that if I spend $1000, then write a $1000 IOU to myself and put it in my jeans pocket that I am not actually even on the deal. It's the self-dealing aspect that I think is phony.

Re political influence on a special purpose entity like a sovereign wealth fund, that is always a risk that must be guarded against. The politicians love to spend OPM. No news there.

[Paulz]

Quote:

Originally Posted by johnhkc You know that this stuff is bankrupting the country. Seriously - why not just ditch that crap and use your savings?

So this is the same argument phrased differently. Instead of lets tax the "rich" more, it's don't take these Government services you paid into and qualify for.

Does the OP also espouse not taking deductions on income tax as well?

[mickeyd]

How selfish of me for having taken my pension from Megacorp. If I would have declined to take the monthly check, there would have been more for others in the corporation. Wonder if it is too late to refund back to them about 10 years of receipts?

[Gumby]

Quote:

Originally Posted by mickeyd How selfish of me for having taken my pension from Megacorp. If I would have declined to take the monthly check, there would have been more for others in the corporation. Wonder if it is too late to refund back to them about 10 years of receipts?

I have long suspected the OP was trolling us, but it wasn't completely clear, so he is still with us. No need to feed him though.

[Sunset]

Quote:

Originally Posted by pb4uski An interesting viewpoint, but what else would you have had the SS Trust Fund invest the trillions of surplus (excess of taxes collected over benefits paid) in?

They could do like Canada does:

https://en.wikipedia.org/wiki/CPP_Investment_Board

"CPP Investments is one of the world's largest investors in private equity, having invested over US$28.1 billion between 2010 and 2014 alone.[3] Despite being a Crown corporation, CPPIB is not considered a sovereign wealth fund because it operates at arms-length from the Government of Canada and solely manages CPP contributions paid by workers and employers, not public funds.[4][5][6] As of December 31, 2019, the CPP Investment Board manages over C$420 billion in investment assets for the Canada Pension Plan on behalf of 20 million Canadians.[7][8]"

[beowulf]

$420 billion That's chicken feed in the US. The CDN dollar is now worth about .74 of a US dollar. Our deficit spending for just the month of April 2020 was $780 billion. Can't wait to see May's numbers .

[pb4uski]

Quote:

Originally Posted by OldShooter ...I am pretty sure that if I spend $1000, then write a $1000 IOU to myself and put it in my jeans pocket that I am not actually even on the deal. It's the self-dealing aspect that I think is phony. ...

Well in that case you are confusing form over substance... so it is a political charade since it is reported under the U.S. Government but if it was off to the side like the a Federal Reserve Bank it would be a-ok? At the end of the day they are both controlled by the government and government officials.

If the SS Trust Fund were as phony as you suggest then there would be no need to fret about a SS haircut in 2034 because any deficit between tax inflows and benefit outflows would just be paid out of the general fund... but the SS Trust Fund is prohibited by law from deficit spending... sort of proves that its not phony to me.