The inventor of the "DOGE dividend check" has said he believes that $5,000 payments for American taxpayers are within reach, once cuts are made to Social Security and Medicaid.
And no, for the 150th time--150-year-olds are not getting Social Security benefits. www.wired.com/story/elon-m ... #ElonMusk #FoxNews
-- WIRED (@wired.com) March 27, 2025 at 6:17 PM
[image or embed]
if you idiots hadn't stopped Bush from privatizing social security we'd all be [fudging] rich bc it would have been tied to the stock market. [...] Just look at any 20 year chart on the S&P 500 and you'll get your proof on the stupidity of trying to argue this.
#14 | Posted by Bluewaffles
And what happens when there's a recession and the market decreases in value? Or if we have to increase interest rates, such as for inflation, resulting in a decrease in stock values? And when a large portion of the populace retires at the same time, liquidating their assets and decreasing stock prices?
Peeps should hold off on retiring for another five-ten years until it recovers? And the folks who have already retired should get their 90 year old butts back into the workforce?
Chile's privatized social security system, beloved by U.S. conservatives, is falling apartSocial security isn't there to make people rich. It's there to prevent people from starving in the streets when they become old or disabled. Which used to happen with great frequency before it came into being.
www.latimes.com
when I say we'd all be rich, I'm referring to the fact that social security wouldn't be deep in the red and would be in the black. Instead, the program will not be able to fund itself here within 2 generations.
#26 | Posted by Bluewaffles
"Once the reserves are depleted, an estimated 77 percent of scheduled benefits would continue to be payable from tax receipts alone."
www.ssa.gov
Personally, I'd prefer to get 77% of my benefits under the current system, than 0% if and when the stock market crashes. All the while enriching stockbrokers with a cut, and who bring zero value to the process.
'SS brought to you by Tesla."
I think their goal is more akin to the most recent Space X launch.
www.naplesnews.com
@#20 ... By early summer the initiative was on life support, with congressional Democrats uniformly opposed and Republicans in disarray.After Hurricane Katrina inundated what remained of the President's support, congressional leaders quietly pulled the plug. By October, even the President had to acknowledge that his effort had failed. ...
Why the 2005 Social Security Initiative Failed, and What it Means for the Future (2007)
www.brookings.edu
... Following his successful 2004 reelection campaign, President George W. Bush designated fundamental Social Security reform as his top domestic priority. This was anything but an impulsive decision. As early as his 1978 congressional race, he had suggested that the Social Security System could not be sustained unless individuals were allowed to invest the payroll tax themselves. Overriding the doubts of some political advisors, he raised the issue while announcing his first presidential race, declaring that "We should trust Americans by giving them the option of investing part of their Social Security contributions in private accounts."[emphasis mine]
Toward the end of a first term dominated by international terrorism, President Bush renewed this call in his 2004 State of the Union address: "Younger workers should have the opportunity to build a nest egg by saving part of their Social Security taxes in a personal retirement account. We should make the Social Security system a source of ownership for the American people." He mentioned the issue repeatedly during the 2004 campaign and was able to argue that his reelection represented a mandate to move forward on what he called personal accounts (and his adversaries called partial privatization). ...
Having invested so much political capital in this issue, President Bush embarked on the first of what proved to be a long series of tours crammed with events at which he pitched his plan to the people. ...
By early summer the initiative was on life support, with congressional Democrats uniformly opposed and Republicans in disarray.After Hurricane Katrina inundated what remained of the President's support, congressional leaders quietly pulled the plug. By October, even the President had to acknowledge that his effort had failed....
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