U.S. Deficit Commission Recommends Changes to Social Security

[thundley4]

Those IOUs are why I consider the system bankrupt.  The Fed just devalued the dollar again to the sum of some 600 billion.  IMO those IOUs will never actually be paid back into the system.

I for one am not planning on drawing a single dime of SSI even though I have been paying into it for about 30 years.  It simply will not exist in any meaningful fashion by the time I retire, yet I am still forced at virtual gun point to keep paying into it.

The government will issue you credits with which you can pay your taxes on the income you do have. 

[rich_t]

The government will issue you credits with which you can pay your taxes on the income you do have. 

DAMN IT!!!!!!

Don't give them any ideas.

[JohnnyReb]

How would you change the plan I listed?   

To get serious about a plan we'd both need to see some numbers and do some figuring on at what ages and amounts to use for cutoffs of paying into the system and when to phase it out altogether.

It would get very complicated but I think it could be worked out on less than 2,000 pages.

This should have been done 40+ years ago but the democrats would have lost the boogie man they used to scare people.

It's a known fact that DUmmies will not provide for themselves so some form of forced government retirement plan will have to be used but what we have now is....uh....uh....ain't gonna work.

 

[zeitgeist]

I never expected to see it anyway, that's what some pundits & my college professors told me years ago.  As long as they don't raise the age that you can withdraw from IRA's & 401(k)'s I should be fine without SS.  It would still be nice to get that money back.

Don't worry your pretty little head about that 401k/IRA Ralphie baby, they have plans for that too. Comrades in the Andes need your pesos!!  Redistribution now!  Soak the rich!!  You greedy capitalist pig!!  The barbecue and spits are being readied now.