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View Full Version : How to do away with old age social security?




sailor
11-02-2008, 04:31 PM
Lets say I am the president and want to do away with old-age social security, how can it be done?

I can tell everyone "though luck, but you aren`t getting any of your money back" but then I probably won`t get re-elected.

What else can be done? I suppose I could write everyone a big fat check to return them lets say half of the money they paid in. But from where is the money going to come for that? I mean the money they paid in doesn`t really exist. It has been spent on other people`s pensions long ago.

And what the heck do I do with the current retirees?

danberkeley
11-02-2008, 04:47 PM
Lets say I am the president and want to do away with old-age social security, how can it be done?

I can tell everyone "though luck, but you aren`t getting any of your money back" but then I probably won`t get re-elected.

What else can be done? I suppose I could write everyone a big fat check to return them lets say half of the money they paid in. But from where is the money going to come for that? I mean the money they paid in doesn`t really exist. It has been spent on other people`s pensions long ago.

And what the heck do I do with the current retirees?

Pay everyone back what they paid into social security and stop collecting new payments.

sailor
11-02-2008, 04:53 PM
Yeah, but with what money?

I need to return money 200 million people were paying in for 30 years.


Do I do a dirty one on them and just print a bunch of billion dollars?

Danke
11-02-2008, 04:57 PM
Yeah, but with what money?

I need to return money 200 million people were paying in for 30 years.


Do I do a dirty one on them and just print a bunch of billion dollars?

Sell off Federal property.

http://cafr1.com/

danberkeley
11-02-2008, 05:00 PM
Sell off Federal property.

http://cafr1.com/

Besides, it would defeat the entire purpose of returning the money if they tax people to pay of people who are owed money.

sailor
11-02-2008, 05:08 PM
Sell off Federal property.

http://cafr1.com/

Damn, you`re right. How come I didn`t think of that.

Not sell off since there is no "federal property". It is property of people who paid for it. So I just recognise that and give them stock which is righfuly theirs anyway!

I`d even first nationalise Boeing and other supposedly private but in reality crony buisinesses living at taxpayer`s expense and then hand over their stock to the retirees. :eek:

Problem solved innit?