5:1 Tesla stock split

[HaulingAss]

Social security is not plotted to be insolvent, just to have used up the head start that we've been putting into it to pay off the baby boom. Then it goes back to normal financing from payroll taxes.

Actually, it is projected to become insolvent by 2035 if the basic structure is not changed (meaning a reduction in benefits or an increase in SS taxes). This means SS would not be able to pay all their obligations without structural changes. That is the definition of insolvency.

Tiny fixes, like letting all income apply (or just let the cap float on inflation) would solve the financing problem. It's a pretty simple problem.

-Crissa

Yes, the solution is dead simple in theory. But, from a practical matter, it's going to be very difficult to get the Republicans to agree to raise SS taxes so it doesn't become insolvent. Their preferred solution is to cut benefits (or eliminate SS entirely). This is something I would not ignore if I was behind on my retirement savings.

It's easy to hope or dream that SS will be sufficient for retirement but that is unlikely to be the case by 2035. Even now, many retirees without sufficient savings are having difficulty making ends meet on current S.S. benefits.

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[dtruckman]

I would like to, but am not sure how to just buy a stock. Time to start researching.

No problem just send your money to me and I will take care of it. Trust me

 

[DryCabin]

I got it figured out. It just took a little time and effort.
I was just overwhelmed with the whole stock investment thing. I have jumped in the deepend.

 

[ajdelange]

Social Security: the world's biggest Ponzi scheme.

 

[Luke42]

Social Security: the world's biggest Ponzi scheme.

I was pretty critical of social security and medicare until I realized that social security keeps my crazy aunt from showing up at my house in desperate need. This is a pretty good value.

Also, medicare took care of at least $150k worth of my dad's medical bills near the end of his life. I had the most earning-power of any of his kids at the time, so the burden of paying for that naturally would have fallen on me. Considering how many aging relatives I have, paying into medicare for my entire career looks like a pretty good value.

Younger me was vehemently opposed to these programs. But, in my 40s, I've seen their value and have changed my mind.

 

[ajdelange]

Hey, as a beneficiary I am all for it. I'm taking much, much more out of Medicare than I ever put in. This is what makes it a Ponzi scheme. YOU are paying my medical bills (thanks). The question for you is as to whether it will have collapsed by the time you need it.

 

[FutureBoy]

I was pretty critical of social security and medicare until I realized that social security keeps my crazy aunt from showing up at my house in desperate need. This is a pretty good value.

Also, medicare took care of at least $150k worth of my dad's medical bills near the end of his life. I had the most earning-power of any of his kids at the time, so the burden of paying for that naturally would have fallen on me. Considering how many aging relatives I have, paying into medicare for my entire career looks like a pretty good value.

Younger me was vehemently opposed to these programs. But, in my 40s, I've seen their value and have changed my mind.

I've met a lot of people who have experienced a similar change. And I often hear politicians who are vehemently anti-gay till their own kid comes out of the closet. Or people who are diehard against poverty programs till they somehow end up being in a poverty stricken area for a while.

Seems like so many people lack the empathy and foresight to be understanding of other peoples situations till they have direct personal experience.

Then there are the people who are oblivious to their own situation. Who don't see the benefits that they themselves are taking advantage of that gives them a leg up. Things like infrastructure provided by the taxes and planning of others. Or community organizations that provide resources. Or small companies that provide the kinds of services that most would not be willing to do.

At the extreme are people who just outright deny the very things that they can see and experience themselves. As an example, recently a bunch of scientists did a demonstration of the curvature of the earth for a bunch of the flat earth society members and leaders. The demonstration was clear, understandable, and easily explained. After watching the whole thing play out right in front of them, the response was that what they saw just does not change their minds or make them question anything about their own view. They didn't have any contradictory evidence, alternative explanation of what they experienced, or questions that would need further investigation. The response was just a flat out exclamation of denial.

I really question if humanity has staying power. Extinction is a real possibility.

 

[Crissa]

Social Security: the world's biggest Ponzi scheme.

This is the most ignorant thing you've said. And you've said many whoppers, showing that you think much more highly of yourself than others outside your narrow education.

I suppose by that definition either Capitalism is a ponzi scheme or all insurance is a ponzi scheme. Social Security takes advantage of long time and actuarial adjustments to work. The economy makes more than enough surplus value to keep everyone fed, healthy, housed, educated, and with a new playstation. There is actual value to making sure everyone is taken care of, least of which is the anti-recession function of people being able to spend and work and eat even when Capitalism makes them unnecessary.

-Crissa

 

[Dids]

This is the most ignorant thing you've said. And you've said many whoppers, showing that you think much more highly of yourself than others outside your narrow education.

I suppose by that definition either Capitalism is a ponzi scheme or all insurance is a ponzi scheme. Social Security takes advantage of long time and actuarial adjustments to work. The economy makes more than enough surplus value to keep everyone fed, healthy, housed, educated, and with a new playstation. There is actual value to making sure everyone is taken care of, least of which is the anti-recession function of people being able to spend and work and eat even when Capitalism makes them unnecessary.

-Crissa

And those people always ignore that its an opt in. If they hate it so much why do they participate.

 

[Crissa]

And those people always ignore that its an opt in. If they hate it so much why do they participate.

Social Security works because it includes so many. The best insurance pool for general risk is, of course, everyone.

-Crissa

 

[FutureBoy]

Social Security works because it includes so many. The best insurance pool for general risk is, of course, everyone.

-Crissa

A big part of universal health care is the universality of it. The most accurate risk and cost assessments are based on everyone. Plus there are cost savings potential through shared administration, market bargaining power, and shared research.

But it can also crumble under mismanagement, unequal treatment, or outright abuse.

Personally I’m tired of the private sector approach to health care and the big money/government attacks on social security. But I’ve lived in other systems and have some experience to compare it to. There are many in the US who are strong willed about their views that oppose mine. So I doubt my desired setup will happen any time soon.

 

[ajdelange]

Had a comment here but my spider sense is telling me I've already said too much so I removed it.

 

[Sirfun]

Had a comment here but my spider sense is telling me I've already said too much so I removed it.

In the last year I've probably deleted more comments than EVER. Just a sign of the times I guess.

 

[FutureBoy]

But it can also crumble under mismanagement, unequal treatment, or outright abuse.

These are the very things that happen when government gets involved.

I was saying that about universal health care which generally is a government organization. But it is not just the government that can have these outcomes. There is every possibility of private enterprise doing the exact same things. The issue is that there are humans involved at every level of these organizations. Humans are flawed. Thus the organizations public or private are also flawed. And don't get your hopes up too high for AI based organizations either. AI is built and trained by humans. Plus AI nets are designed based on the brains of living organisms. At least with AI we have the possibility of training out some of the foibles of humans. But so far we seem to unconsciously add in some of our own foibles too.

But hey, you can continue to argue that all the government organizations are corrupt and all the private enterprises are so much better. That seems to be part of your human foibles. Celebrate it. It's a new year and you are still human. Just don't expect that my foibles will be convinced by your argument on that point.

 

[Sirfun]

I was saying that about universal health care which generally is a government organization. But it is not just the government that can have these outcomes. There is every possibility of private enterprise doing the exact same things. The issue is that there are humans involved at every level of these organizations. Humans are flawed. Thus the organizations public or private are also flawed. And don't get your hopes up too high for AI based organizations either. AI is built and trained by humans. Plus AI nets are designed based on the brains of living organisms. At least with AI we have the possibility of training out some of the foibles of humans. But so far we seem to unconsciously add in some of our own foibles too.

But hey, you can continue to argue that all the government organizations are corrupt and all the private enterprises are so much better. That seems to be part of your human foibles. Celebrate it. It's a new year and you are still human. Just don't expect that my foibles will be convinced by your argument on that point.

? AJ wasn't quick enough with the Edit button.