Curmudgeonly & Skeptical presents Boned Jello: The Thunderdome Solution

Thursday, January 27, 2011

The Thunderdome Solution

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Do not fear the collapse of Social Security, slated for 2037. Yes, SS is "projected to collect $45 billion less in payroll taxes than it pays out in retirement, disability and survivor benefits" this year; and yes, "that figure swells to $130 billion when a new one-year cut in payroll taxes is included, though Congress has promised to repay any lost revenue from the tax cut." But we have a solution. Instead of privatizing SS (too risky!), or means-testing benefits (socialism!), Americans will have the option of being put on an icefloat and set adrift, or fighting for their retirement benefits in a post-apocalyptic cage match refereed by AARP member Tina Turner. The Thunderdome Solution solves the problem of too few people paying into a system being used by so many: Two social security recipients will enter, only one social security recipient will leave. [Social Security fund will be drained by 2037]

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Delicious idea and prose via DC Morning

Rodger the Real King of France 1/27/2011 10:14:00 AM 7 Comments

"If the number of Islamic terror attacks continues at the current rate, candlelight vigils will soon be the number-one cause of global warming. "
Argus Hamilton

7 comments:

Anonymous said...: Doesn't this assume its currently in the black? Nonsense.; 1/27/11, 11:30 AM
Anonymous said...: I did an interesting exercise the other day. Recall that when Bush proposed putting a small percentage of SS contributions into the private sector as investments rather than into the SS transfer and theft account, the Left howled about the evil of subjecting that tiny bit to the vagaries of the market, where surely Big Business would steal it and leave a retiree with nothing.
I took mine and my employer's SS contributions year by year from my first in 1961 until my last in 1998, treated it like a 401k/IRA in a spreadsheet using year by year S&P 500 returns, and ended up with $1.4 million. SS currently pays me about $16k/year. Under my private reinvestment plan, I could take ~$60k/year w/o touching the principal and the principal belongs to me and my heirs forever.
Under SS I get about 25% of what I could get and Chuck Schumer gets to spend the rest of my money. *spit*
Lt. Col. Gen. Tailgunner dick; 1/27/11, 2:02 PM
Anonymous said...: Tailgunner, at this point a sane government would then make it costly for you to touch the principal, and maybe even force it into a family trust. So statistically speaking of course, you "fly west" and your kids work another twenty years to increase the trust. And it continues, eliminating you and your heirs from the federal system. But Nooooooooooo! -Anymouse; 1/27/11, 2:23 PM
Anonymous said...: H G Wells saw the progressive future:

Sir, or Madam, now will you be kind enough to justify your existence?

http://www.youtube.com/watch?v=7WBRjU9P5eo&feature=related

Laurence; 1/27/11, 2:48 PM
toadold said...: Galvaston County took their employees off the Soc.Sec. system years ago. They invested in stocks and bonds and made out like bandits.
Chile privatized their pension fund and it is doing very well. The pension funds that haven't done well seem to have invested in stuff like direvitives, real estate, and stuff that promised sky high returns. Those that did the "prudent man" thing with stocks and bonds and/or kept the money balanced between them have done a lot better than Soc. Sec. despite the down turns.
As for myself, I'm one of those stupid old farts watching my ice flow melt out from under me due to the blast of hot air from Washington.; 1/27/11, 6:06 PM
Rodger the Real King of France said...: damned interesting toadold; 1/27/11, 7:03 PM
Anonymous said...: I did the same calculation as LtCG Dick only I only allowed myself certificate of desposit rates for each year.
If I paid myself the same as they are going to pay, I would not run out of money until age 99.
I'm sure they aren't counting on me living to 99.; 1/27/11, 9:02 PM

Thursday, January 27, 2011

The Thunderdome Solution

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