Re: Killing Social Security?
« Reply #20 on: September 04, 2020, 03:21:29 PM »
Thats a good point too Matador,
The cost of housing relative to pay is a good measure to compare  , likewise here in Ireland average house price has skyrocketed compared to income levels , back in the day typically the man went out to work ,women stayed at home and raised the kids . Now many houses need the second income just to break even , with child care costs taking another large chunk of change. Theres plenty of studies now showing downsides to sending kids to day care ,as opposed to being cared for by family .

Ive heard some say ,were the first generation to end up poorer than our parents in a long long time , along with that I'd imagine the gap between rich and poor is ever widening .

Many of my musician friends without second jobs are left dangling by a thread financially at this stage , of course way back when, we weren't to know  something called Youtube and the internet would kill income from record sales received by artists, covid virus has well and truly killed any possible income from gigs leaving many up sh!t creek without a paddle . The only side of the industry getting proper representation in the corridors of power is big P.A rental and events management companies.
Even the workingmans pint here is a thing of the past here now , a minimum of 9 euros must be spent on food before the pub will serve you a pint of beer,all non food pubs in Ireland are firmly shut still .    :(

Our health system here is so badly broke you'd probably have better odds of coming out alive playing Russian roulette .


crazydoc

Re: Killing Social Security?
« Reply #21 on: September 04, 2020, 03:55:56 PM »
The insurance concept doesn't meet the model, in that you are paid out based on what you pay in.
Car and property insurance work like that. You pay in less or more based on what your car or property is worth, or what coverage you want, so if a payout is needed,  it is based on what you paid in. Similarly, SS pays out more to those who paid in more (higher lifetime income.)

SS was never meant to allow retirees (or the disabled) to live high on the hog, vacation in foreign lands and whatever else the well-to-do use their money for. It was meant to allow those at the end of their lives to afford room and board, and not be a burden on their families.
Luckily, there is more than one way to skin a cat.
The secret of happiness is having low expectations.

Re: Killing Social Security?
« Reply #22 on: September 04, 2020, 05:27:22 PM »
Basic social security payments in Ireland amount to around 200 euros per week or 10K a year,
contrast that with what it costs to lock someone in prison for a year , probably something like 1500 a week or more.
On so many levels the simple in/out SS equation fails to add up , a career criminal costs the state vast amounts of cash to imprison yet they most likely will never have paid a penny in tax ever , if and when they do get out of jail there still entitled to the SS payments , Yeah, the rich guy who fleeced people for millions in business ,when he hits 65 passes Go and collects his state pension regardless of how much he has in the bank, high and low end get a good deal , man in the middle takes the hit  :(

rob_gould

Re: Killing Social Security?
« Reply #23 on: September 04, 2020, 05:50:38 PM »
you are paid out based on what you pay in.

Or not, in Brian's case  ;D
Studio furniture, modular synth cases and more...

www.gouldcaseworks.nl

scott2000

Re: Killing Social Security?
« Reply #24 on: October 04, 2020, 07:01:28 PM »
https://www.prb.org/wp-content/uploads/2019/06/PRB-PopBulletin-2020-Census.pdf

"Between 2020 and 2060, the number
of older adults is projected to increase by 69 percent, from
56.0 million to 94.7 million."

"In 2020, it is projected that the older adult
population could include 92,000 centenarians, and the number
could increase to nearly 600,000 by 2060"

"In 1960, there were 6.0 working-age adults for every
person age 65 or older.13 The ratio is projected to drop to 3.6
by 2020 and even further—to 2.4—by 2060. This projected
decrease in the number of workers relative to those who are
retired or can no longer work could have implications for the
old-age support systems currently in place."

scott2000

Re: Killing Social Security?
« Reply #25 on: October 18, 2020, 09:11:19 AM »
"3 ways that the U.S. population will change over the next decade"

https://www.pbs.org/newshour/nation/3-ways-that-the-u-s-population-will-change-over-the-next-decade

"Between 2020 and 2030, the U.S. is expected to gain an additional 18.6 million people."

"The U.S. is getting older and it’s going to keep getting older.

Today, there are over 74.1 million people under age 18 in the U.S. country. There are 56.4 million people age 65 and older.

Ten years from now, there will almost be as many old folks as there are young ones. The numbers of young people will have grown just a little to 76.3 million, but the numbers of old people will have increased a lot – to 74.1 million. A lot of these new elderly will be baby boomers. "

"the number of centenarians in the U.S. grew from over 53,000 in 2010 to over 90,000 in 2020. By 2030, there will most likely be over 130,000 centenarians in the U.S"


 

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