Rural America is in a bad shape.
" If you are talking about social security, or pension, it's nothing like insurance. The money you are paying today, goes directly into people's pockets and nothing is saved for later or invested. You are paying for people today, but you have zero assurances that someone else will pay for you in the future. So, better save for your retirement on your own, cause you do not know how broke will the state be in 30 or 40 years. When night falls She cloaks the world In impenetrable darkness Last edited by morbo on May 27, 2017, 8:48:11 AM
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" What? Do you not get your money back from social security? |
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" It is not "your" money anymore, as soon as you pay the taxes. The money is used immediately, the state doesn't save or invest part of it (I hear this used to be the case in the past). It's not an insurance, because there is no contract. You just have the "good word" of the government, that they will extort someone else in 40 years, to pay for your future social expenses. Now, if your government is already X trillion in debt right now, how much confidence do you have that it wont go broke in 40 years? Or how much guarantees do you have that the gov wont just keep extending the retirement age through the next decades? When night falls
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" How would that work? Lol. Its a tax. You pay in, the money gets used elsewhere. |
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" There used to be a fund, but it has been pillaged. Social Security Insolvency: When And What To Do " When night falls
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" I wish I am America, so I can borrow unlimited amount of money. Why do you need assets when you can sell debt for money? It is it is ingenious. :P |
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" USA is a strong economy and more importantly the dollar is a world currency. That's why they can afford to borrow massive amounts and still retain their credibility. But nothing can go on indefinitely. If you want to see what happens to smaller countries that get addicted to borrowing money, just study the case of Greece. They've had typical left-wing governments that gave out nice pensions, early retirements, lots of benefits, "free" stuff... and were paying for all this with borrowed money. This lasted for a while, until the creditors said: ok, no more heroin for you druggie, we don't trust you anymore. And now the future generations will have to pay back what the current generations over-consumed. You cannot live above your economic capabilities, this goes for individuals and for countries. Someone, someday will have to pay back your (collective) spending. Politicians (esp. on the left) are fast to promise money they don't have and most people are too ignorant or short-sighted to recognize the long-term negative effects of such policies. If yo are 20-30 yo with a job, then give the government the bare minimum you are forced to give, but do not assume that in 40 years the gov will be still able to take care of you. Save the money for your retirement yourself, plan long-term, don't waste $$$ on bullshit you don't need and never ever go into debt, for any reason. When night falls
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" The Government love to spend your money irregardless of who you vote for. You can pretend the right doesn't waste your money. |
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"At 21 people don't know shit. Youthful enthusiasm just makes them think they are smarter than anyone else. Your brain isn't even fully developed. But don't worry, you will improve with age. :) "Gratitude is wine for the soul. Go on. Get drunk." Rumi
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" Young people don't need to know shit. They'll learn what they need as they go. They just need a good work attitude at that age. There are so many lazy, entitled youths thinking the world will just fall into their lap that just having a great work ethic will definitely put you ahead of the curve. And don't underestimate a young person choosing to learn a trade skill vs going to 4+ years of college. There are a lot of good, secure opportunities for young people willing to learn and become proficient in a trade. |
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