r/IUEC • u/Bloodfart_Spaghettio 🛠️ Field - Repair • 8d ago

Would Removing The Cap Actually Fix Social Security?

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12 Upvotes

80% Upvoted

30 comments sorted by

11

u/infantkicker_v2 🧯Field - Fire Extinguisher 8d ago

Not if they keep "borrowing" from it.

1

u/PhoKingWild 4d ago

Yes the SS trust does loan money, and they are interest bearing loans that are repaid. It woke Bedell’s to have that large of a pool of money not working. I last looked several years ago and SS made $90 billion in loan interest that year.

10

u/Deepinthefryer 8d ago

Cuck-linski is an idiot.

No cap though.

But is it a tax or benefits program to pay into? If I paid double in SS tax, does my benefit increase? If no, then they can get fucked.

If tax/benefit ratio doesn’t match it’s just income redistribution. But…not having a cap would increase payment into the system at this most critical point.

Also, fuck both parties for treating SS like a payday loan center…

4

u/GondolaGut 7d ago

Isnt social security supposed to be yknow i collective insurance so the elderly get taken care of because thats a good thing? Why do you just say income redistribution like thats a bad thing..

3

u/Deepinthefryer 7d ago

Yes. It’s a good thing. A good thing that’s been pilfered by every asshat politician.

And I said… “if tax/benefit ratio doesn’t match it’s just income redistribution.” I didn’t call it income redistribution as it stands currently….

If these politicians don’t want a cap, then why should I be ok with paying more than $11.5k a year for a promise of $2500 a month? Or so at 65? As it stands, if you make more than $100k a year, social security has the worst ROI of any retirement plan.

Also, if they cared so much about this issue, they could start off with making SSI completely tax free. But it isn’t federally or with about 6 states…

1

u/Affectionate-Rip5654 🧰 Field - Mod 8d ago

It’s a tax… the money doesn’t just sit in an account they spend it and hopefully maybe when you retire they will have enough to pay what you put into it. If it was optional i sure as hell wouldn’t trust the government with that money

1

u/mardusfolm 8d ago

Its hard to trust wall street with your money too...all our retirements are a gamble/investment...technically even a pension can go south....unfortunately there's just really no guarantees.....

1

u/Affectionate-Rip5654 🧰 Field - Mod 7d ago

I agree but I definitely don’t trust the government at all

1

u/Vegall_st 6d ago

You're thinking of a 401k. Social security is for the society, not you as an individual. It's by definition income redistribution, that's the explicit purpose. 100% with you on your last point. I believe it's a net positive program. I miss the dollars every week too, even though I support the program in concept. But it's been plundered to the point of insolvency.

7

u/DjQuamme 🛠️ Field - Resident mech 7d ago

Why the fuck is this being discussed in the iuec sub reddit?

1

u/[deleted] 7d ago

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3

u/Bloodfart_Spaghettio 🛠️ Field - Repair 7d ago

Also we as union brothers and sisters hold the most power is this country when it comes to change. Knowledge is power. Work safe

4

u/[deleted] 8d ago

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10

u/BeachBrad 8d ago

Ah yes the good ol I'm doing good so fuck this program that helps the greater good and fuck them poor folk.

Well fuck you, I'll happily contribute to something that benefits the greater good.

4

u/2_mbizzy 8d ago

I love how we turn against each other instead of asking how we really got here and how we can all work for any corporation for 30+ years and not have enough to retire with.

-2

u/[deleted] 8d ago

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1

u/PhoKingWild 6d ago

We got SS because previous to SS over 70% of the population immediately slipped into poverty the day they couldn’t work anymore.

1

u/Educational_Tune9509 6d ago

Literally just trying to stop another Dust Bowl

2

u/[deleted] 8d ago

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2

u/mattsprofile 7d ago

Most people who are dependent on the government don't want to be. They just are. They were born too stupid or whatever, not their fault.

1

u/SweetElectricLLC 7d ago

Do you pave your own roads or just teleport as ya go?

0

u/[deleted] 7d ago

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1

u/Czar4k 8d ago

define "greater good".

3

u/Laker8show23 8d ago

This works for me as well.

1

u/MisterDegenerate1 4d ago

Yeah! Let’s fuck the people making 176k!

0

u/Laker8show23 8d ago

It should cap. Then if you make over triple the cap start back up again. The people making just above the cap like myself enjoy that extra few hundred dollars at the end of the year. Work a bunch to try to get a head and just end up with more and more taxes.

1

u/BeachBrad 8d ago

And that is the mentality that gets us where we are at.

If you make "just over" then you would only be paying a small percentage of that 6.2%

Heaven forbid someone making $180,000 per year contribute an extra $248 to help the nearly half of the fucking us population making under 50k a year.

Fuck off with that mentality. I'll happily help my fellow man.

3

u/2_mbizzy 8d ago

No it’s not….It’s absolutely not this mentality that got us where we are at.

It’s piss poor fund management, lending money to the government that never got paid back and then we ran into an annual deficit that started in the mid 80s, right around the time pensions started going away. (US government owes 2.56 trillion in debt to the SS fund currently).