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What are we going to do about social security.

So, according to the pie chart social security/medicare is taking up 30% of our taxes. The need is only going to increase as baby boomers begin to retire or loose their jobs. The 30% we pay towards social security/medicare isn't even paying for current costs so our reserve money is decreasing and we'll eventually run out. So, what should we do?

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smalltowngal

Asked by smalltowngal at 11:13 AM on Jun. 12, 2009 in Politics & Current Events

Level 1 (-9 Credits)
Answers (13)
  • Do what we are start saving. We shouln't have to save as much as we are since we pay in but that is just the way it is. We have three different retirement accounts and have 401k through my husbands employer we put 5 percent in each month they match it plus add an additional 5 percent. We are on track to have an income of 15k a month when we retire and we get to decided when that is through the investments we have. I wished we could opt of out Social Security since we won't ever collect it I could invest that far more wisely than our Gov could.   You have to take charge for yourself on this.

    Anonymous

    Answer by Anonymous at 12:18 PM on Jun. 12, 2009

  • Let Obama take care of it. He's really great at fixing all of our problems. He is, after all, god incarnate.
    Anonymous

    Answer by Anonymous at 12:23 PM on Jun. 12, 2009

  • You have to take charge for yourself on this.

    I'm not worried about DH. I'm worried that we're going to have a lot of elderly that won't be able to afford their medication and starving to death. I wonder if we're going to end up with large group homes that the elderly will move into even if they're in perfect health. I doubt a lot of them will be able to find jobs for a long time with real unemployment at 16.4%.
    smalltowngal

    Answer by smalltowngal at 12:35 PM on Jun. 12, 2009

  • I'm worried that we're going to have a lot of elderly that won't be able to afford their medication and starving to death.

    I worry too but this is what happens when we rely on the Government to make programs with our money when we can do it for ourselves.
    Anonymous

    Answer by Anonymous at 12:42 PM on Jun. 12, 2009

  • I'm sure we can just print more money like we do to solve all our other problems this year.

    Considering the majority of the Social Security fund is filled with IOU's from the government borrowing out of it, all we can do is plan on it not existing by the time most of us (under 50) retire.
    NotPanicking

    Answer by NotPanicking at 12:52 PM on Jun. 12, 2009

  • What can WE do? Hah. By the way ANON, its getting really disgusting when you guys try to slam President Obama every chance and call him names such as "god incarnate" and "Your savior"....you are reveaing how mean -spirited and ignorant you are. Grow up and don't pretend you are justified at all.
    Anonymous

    Answer by Anonymous at 12:54 PM on Jun. 12, 2009

  • Well, lets just allow people on foodstamps to buy steak dinners and think that is acceptable.

    That like my step-daughter's teacher's situation. She was TOLD to spend the extra money in their budget, so they could get the same amount, if not more, next year! That thinking and hoarding is totally irrational to me. Return the money so it can be properly used, or roll it over into next years money so the school can start SAVING money. We are lacking HONESTY AND ACCOUNTABILITY. That is small scale. Think of how much this happens in term of millions or billions. Sickening!

    As for the we pay taxes, so we are entitled to PA. Well, what about seniors who have been paying taxes for 50+ years and left with NOTHING???? People are being robbed! Paychecks withhold SOCIAL SECURITY for THAT purpose. Where is this money going??? steak dinners for abled, selfish people? infuriating and sad!
    thundernlight

    Answer by thundernlight at 1:00 PM on Jun. 12, 2009

  • I guess Grandma is going to have to sell that house that she raised 7 kids in and the kids are currently paying to have her lawn mowed, etc So she can whine about how bored and lonely she is and move in with one of them who could use the extra help at least getting the 7 yr old off the bus and keep him entertained for 2 hours before mom and dad get home. Take care of your family and stop expecting the government to do it for you!
    Anonymous

    Answer by Anonymous at 1:05 PM on Jun. 12, 2009

  • ANON: 54. This is ANON :23. I am a huge Obama fan. I went to his rallies, and wore shirts and carried signs on his behalf. I actually am not slamming him. I no longer have to worry about paying my mortgage or putting gas in my car. He is god incarnate.

    I don't know why you would say that I was slamming him. I support him 100%. I'm not mean-spirited in any way towards him. He is an AMAZING man, and is the best president EVER. Even Jesus couldn't be as good...
    Anonymous

    Answer by Anonymous at 1:09 PM on Jun. 12, 2009

  • So---this is really bizarre, anon :09. I have betterthings to do with my time so I'm signing off.
    Anonymous

    Answer by Anonymous at 1:27 PM on Jun. 12, 2009

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