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Is social security a scam? Would you opt out of it if you could?
Is social security a scam? Would you opt out of it if you could?
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03-07-2023, 08:27 AM
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#1
- AmericanIncel
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- AmericanIncel
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Is social security a scam? Would you opt out of it if you could?
Social security is kinda a scam. I'm 22 and will never see the money.
Even if I did, I'd opt out.
Imagine how much you screwed up in life to not have saved up at least hundreds of thousands of dollars by the time you hit 65. Like you must've been financially dumb your entire life.
Even if I did, I'd opt out.
Imagine how much you screwed up in life to not have saved up at least hundreds of thousands of dollars by the time you hit 65. Like you must've been financially dumb your entire life.
03-07-2023, 08:55 AM
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#2
- AmericanIncel
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- AmericanIncel
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bump
03-07-2023, 09:02 AM
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#3
- kcadrenalin
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- kcadrenalin
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As an oldcel and knowing how much I have paid into Social Security, if I had the option to go back and have that money put into a 401k instead, I absolutely would.
Hell, if they would let me cash out a lump sum at 75% of what I paid, I would do it in a heartbeat. I can decide what is the best way to invest my money for retirement way better than the government can.
To answer your question 'is it a scam?'. Absolutely. Your money gets spent the minute it's deducted from your employer. It be put into a fund but instead, Zelinski gets a few billion more.
Hell, if they would let me cash out a lump sum at 75% of what I paid, I would do it in a heartbeat. I can decide what is the best way to invest my money for retirement way better than the government can.
To answer your question 'is it a scam?'. Absolutely. Your money gets spent the minute it's deducted from your employer. It be put into a fund but instead, Zelinski gets a few billion more.
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03-07-2023, 09:17 AM
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#4
- jamalfudge
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- jamalfudge
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Actually the whole idea of social security is based off of how the western monetary system works. There's actually a whole credit profile associated with your name that stays with you your whole life and is where all of your loans come from, where your school supplies as a child come from, where your social security comes from, and a whole chit load of other things. There is no such thing as money, only credit, at least in the US. There is a whole process or series of different processes you can do to check out/cash out, etc. I am taking first steps to opt out of income taxes.
This video explains how money works to give you a good idea of what you're looking out if you want to opt out of SS. What the vid doesn't explain is, you can actually CASH OUT of your whole SS profile but you gotta know what you're doing and have to explain yourself if a man in black pays you a visit:
This video explains how money works to give you a good idea of what you're looking out if you want to opt out of SS. What the vid doesn't explain is, you can actually CASH OUT of your whole SS profile but you gotta know what you're doing and have to explain yourself if a man in black pays you a visit:
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03-07-2023, 09:20 AM
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#5
- leafs43
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- leafs43
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You could opt out and put all that money that would have went to SS in treasury bonds, which pay out almost nothing compared to normal investments, are backed by the US gov't i.e. won't default and persist after you pass away and make 4 times as much money.
SS is a scam
SS is a scam
03-07-2023, 09:23 AM
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#6
Social Security started in 1935.
The life expectancy back then was 55. Yet the government wouldn't give you social security until 65. Life expectancy didn't go past that until 1950.
The life expectancy back then was 55. Yet the government wouldn't give you social security until 65. Life expectancy didn't go past that until 1950.
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03-07-2023, 09:24 AM
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#7
- MikeLowrrrey
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I don't know much about Social Security, but it seems it's on shaky legs for Millennials and Gen Z. For Boomers and Gen X it's a gravy train.
03-07-2023, 10:26 AM
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#8
- AmericanIncel
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- AmericanIncel
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Originally Posted By AmericanIncel⏩
SS is a scam periodSocial security is kinda a scam. I'm 22 and will never see the money.
Even if I did, I'd opt out.
Imagine how much you screwed up in life to not have saved up at least hundreds of thousands of dollars by the time you hit 65. Like you must've been financially dumb your entire life.
Even if I did, I'd opt out.
Imagine how much you screwed up in life to not have saved up at least hundreds of thousands of dollars by the time you hit 65. Like you must've been financially dumb your entire life.
03-07-2023, 10:31 AM
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#9
- PepperedAngus
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- PepperedAngus
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Its almost as if we are being taxed without representation these days... Its about time to dump some tea on our own government this time.
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03-07-2023, 10:37 AM
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#10
- MrFrogbottom
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- MrFrogbottom
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Would opt out of social security and medicare/medicaid if possible. All those programs are the largest chunk of government spending and are mismanaged to hell. You'd be way better off just putting money away into a personal "medical fund" investment account when you're younger and letting it grow than rely on the government's subpar healthcare.
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03-07-2023, 10:42 AM
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#11
- Destor
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- Destor
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There are ways to opt out of stuff like this, at least in Canada: I think CPP (Canadian Pension Plan) is our equivalent to the US Social Security.
Contributions to CPP are automatically deducted for regular employees but I don't pay into any of the socialized programs (EI is another one) because I route my income through a corporation and pay myself in dividends rather than regular income.
Contributions to CPP are automatically deducted for regular employees but I don't pay into any of the socialized programs (EI is another one) because I route my income through a corporation and pay myself in dividends rather than regular income.
03-07-2023, 10:43 AM
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#12
- crupiea
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- crupiea
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People have been saying its a scam and they will never see any payout since the program started.
It will be there when you get old. They need the votes. No politician in the world would get rid of it and alienate the all those voters.
Plus what will happen is people will opt out, **** away the money and come crying to the govt in old age because they were stupid their entire lives and didnt save anything. Just look at student loans. people in medical school and advanced mathmatics and accounting couldnt figure out simple interest and a return on investment for their massive loans and now are begging plumbers and roofers to pay it off for them.
My sil is a teacher and they dont pay into social security as they have their own system. She is old and cant retire for quite a while yet but if she was a regular employee could already be drawing it now while doing nothing but watching the price is right and drinking black coffee every day.
It will be there when you get old. They need the votes. No politician in the world would get rid of it and alienate the all those voters.
Plus what will happen is people will opt out, **** away the money and come crying to the govt in old age because they were stupid their entire lives and didnt save anything. Just look at student loans. people in medical school and advanced mathmatics and accounting couldnt figure out simple interest and a return on investment for their massive loans and now are begging plumbers and roofers to pay it off for them.
My sil is a teacher and they dont pay into social security as they have their own system. She is old and cant retire for quite a while yet but if she was a regular employee could already be drawing it now while doing nothing but watching the price is right and drinking black coffee every day.
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03-07-2023, 10:45 AM
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#13
- xxAchillesxx
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It's a giant ponzi scheme. Of course I'd opt out if I could.
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