In response to:

If You’re a Moocher, Common Sense Should Tell You Not to Kill all the Producers

dahni Wrote: Jan 14, 2013 11:37 AM
I have paid into Social Security and Medicare my entire working life. First, of course, I have no choice in the matter, but secondly because I expect to get it back when I retire. Life expectancy in the US is about 79 years. So, if someone retires at age 65 they should get returns for about 14 years. But, since a lot of people die much earlier, and thus don't get to use their SS contibutions, it is available to those who do live longer. If our elected officials had kept that money for those who contributed, there would not be a SS/Medicare problem today. But they used, and are using, it to buy votes. Solve that issue and the SS/Medicare situation will resolve itself in a few years.
johnm h Wrote: Jan 14, 2013 11:45 AM
SS was originally designed as insurance against outliving ones savings so the age was set below life expectancy. The problem is not just that the government spent the money but people came to see it as retirement, not insurance, so they failed to save. So there was neither government savings nor private savings sufficient for our economy but since we could print dollars and force foreigners to hold them we did not correct the problem. There is far more wrong with SS. Medicare is a different issue. entirely. Few in Washington address the fundamentals of either program and until they do there is no fix.
Curtis108 Wrote: Jan 14, 2013 11:51 AM
You are mistaken. The original retirement age of 65 was set when life expectancy was 63.
dahni Wrote: Jan 14, 2013 12:12 PM
And your point is? "In the United States, Social Security refers to the Old-Age, Survivors, and Disability Insurance (OASDI) federal program.[1] The original Social Security Act (1935)..." Social Security is funded through payroll deduction taxes called FICA.

SS is not my only 'retirement' program, but I expect to get returns plus interest on my other non-governmental retirement funds. Nowhere does the initial program for SS indicate that it's purpose is to provide welfare for those who do not pay into it.
Mag14 Wrote: Jan 14, 2013 12:51 PM
I think the point is that it was a scam when it was created. Free money for the government since the majority of people who paid into it (the opt-out program involved jail time and still does) didn't get money out of it.

Which is par for the course in insurance - that's how it works and the excess money pays the salaries of the claims adjusters and the fraud investigators.

I suspect that the primary (salable) purpose of the SS was to aid widows and children of dead coal miners.

From the start the assumption was that few would collect. It wasn't built for that even when the money flowed in. It's certainly not going to work that way when the money doesn't even exist.
johnm h Wrote: Jan 14, 2013 1:11 PM
That is what I meant to say and got it backwards. Otherwise what I said makes no sense. It won't be the last time.