Please define "sustainable.
Nothing is forever.
Please define "sustainable.
Nothing is forever.
European countries are a decade or two ahead in terms of aging population and they are having to make cuts to their welfare states to sustain them especially as the ratio of recipients to payers has increased. We had better get people to save for their retirement and reduce the number who will need social security. Instead our policies are encouraging more borrowing and discouraging saving all to prop up short term economic "growth."
Liberalism = a mental disorder wrote:
We had better get people to save for their retirement and reduce the number who will need social security.
Funny statement.
The best way to "get people to save" is to increase the payroll tax deduction for social security.
Forced savings
L L wrote:
Liberalism = a mental disorder wrote:We had better get people to save for their retirement and reduce the number who will need social security.
Funny statement.
The best way to "get people to save" is to increase the payroll tax deduction for social security.
Forced savings
SS isn't savings by any definition. It's always been a PAYGO system.
paygo wrote:
L L wrote:Funny statement.
The best way to "get people to save" is to increase the payroll tax deduction for social security.
Forced savings
SS isn't savings by any definition. It's always been a PAYGO system.
Are you saying it was structured exactly like a Ponzi scheme?
Look at Kansas.
There really no difference between PAYGO, SS withholdings going straight to seniors now, and putting the money aside for 30-40 years to be paid back with interest.
Money isn't real. It's just trading numbers.
If you put a dollar in the bank today and withdrawal a dollar tomorrow, it won't be the same dollar. It will be someone else's dollar who just made a deposit.
recognizer of economytards wrote:
L L wrote:The more costly welfare is the tax loopholes that enable a wealthy person to pile onto their savings, which does nothing to help the economy.
What an idiot! do you think the wealthy hide their fortune in their mattresses? Wealthy people put their savings into stocks or banks which subsequently give rise to growing businesses or loans to startups or young people.
Banks give out loans, ok. But how does buying stock in Microsoft help small businesses or young people?
L L wrote:
There really no difference between PAYGO, SS withholdings going straight to seniors now, and putting the money aside for 30-40 years to be paid back with interest.
Except you don't your money back with interest. You get whatever the government decides you get which on the whole is WAY LESS than they could have made by investing.
Moose wrote:
recognizer of economytards wrote:What an idiot! do you think the wealthy hide their fortune in their mattresses? Wealthy people put their savings into stocks or banks which subsequently give rise to growing businesses or loans to startups or young people.
Banks give out loans, ok. But how does buying stock in Microsoft help small businesses or young people?
No one would put all their money in Microsoft stock, it would go lots of places. But in general selling stock helps them raise capital. Even if you're just trading stock with other investors, you're still creating the demand for the system that enabled them in the first place. Similarly buying a bunch of mortgages doesn't seem to directly help the buyer, but if more people buy them it will allow the buyers overall to get lower interest rates.
You don't know what you will get with investing.
You could lose money investing.
This is defined benefit.
L L wrote:
You don't know what you will get with investing.
You could lose money investing.
This is defined benefit.
Over 30-40 years, no, you will not lose money.
ohffs wrote:
L L wrote:You don't know what you will get with investing.
You could lose money investing.
This is defined benefit.
Over 30-40 years, no, you will not lose money.
Lots of people manage to lose money over the long haul. Sure if you are smart and boring and throw it all in some index mutual fund you will do just fine over 30-40 years. But there are boatloads of people who just don't get this and do too many stupid things to list here.